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Fields Corporation has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Fields incurs $2,220,000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. The break-even point in dollars is:
A) $821,400.
B) $5,162,791.
C) $5,550,000.
D) $6,000,000.
A company estimates that ordering costs are $2.00 per order, picking costs are $1.00 per unique item ordered, packing costs are $0.07 per item, and return costs are $40.00 per return.
What worksheet entries are needed in connection with the consolidation of this asset? Assume that the parent applies the partial equity method.
On October 31, a company's Cash account had a normal balance of $7,000. During October, the account was debited for a total of $4,250 and credited for a total of $5,340. What was the balance in the Cash account at the beginning of October?
Smith Manufacturing's bank has just informed the company's CFO that an audit is required to obtain an operating line of credit (LOC). The company needs the LOC to maintain its cash flow.
Provide the journal entry to record the conversion of the bonds assuming Picard considers the conversion
Management's inventory policy is to have ending inventory equal to 1.4 times the cost of sales for the subsequent month, although it is estimated that the cost of inventory at March 31 will be $170,000.
Mary is evaluating the risk (return deviation) of a model stock portfolio she has constructed. She knows that an ex ante set of returns is a more useful approach. However, she decides to examine ex post returns because she knows that for a well-di..
Why is the audit of cash an important part of the audit? why is the cash account important to the decisions of investors and creditors?
The accountant in a factory that produces biscuits for fast-food restaurants wants to assign costs to boxes of biscuits. Which of the following costs can be traced directly to boxes of biscuits?
Jensen Company forecasts a need for 200,000 pounds of cotton in May. On April 11, the company acquires a call option to buy 200,000 pounds of cotton in May at a strike price of $0.3765 per pound for a premium of $814.
On that date, the market value of the common stock was $15 per share and the market value of each warrant was $2. Austere should record what amount of the proceeds from the bond issue as an increase in liabilities?
Your company's management immediately begins fighting off this hostile bid. Is management acting in the shareholders' best interests? Why or why not?
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