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1.Chuck s Brokerage Service (CBS) is a discount financial services firm offering clients investment advice, trading services, and a variety of mutual funds for investment. Chuck has collected the following information for October:Advertising and marketing .......... $ 270,000Brokerage commissions (revenues)....... 9,000,000Building rent and utilities.......... 525,000Fees from clients for investment advice...... 4,500,000Fees paid to execute trades.......... 2,400,000Labor cost for advice............. 900,000Managers salaries............. 750,000Sales commissions to brokers......... 1,275,000Training programs for brokers......... 6,000,000Required:Prepare an income statement for October for CBS.
Does the CVP assumption of linearity make sense within the relevant range? Has this assumption changed based on the current economy?
Calculate the total contribution margin for 2000 and contribution margin percentage. Describe why the contribution margin differs from the gross margin.
NPV of each project, and determine which should be undertaken by the company. IRR of projects A, C and E and recommendation with reasons whether each project should be undertaken based on IRR computed.
Prepare the bank reconciliation for company as of April 30 and calculate the amount of over- or under-applied overhead and what is the significance of this over- or under-applied amount of overhead?
Diablo Company applies the direct write-off method in accounting for uncollectible accounts. Prepare journal entries to record the following selected transactions of Diablo.
The company treats all fringe benefits relating to direct labor as added direct labor cost and the remainder as part of manufacturing overhead. The allocation of Becky's wages and fringe benefits for the week between direct labor cost and manufac..
This is a Harvard Case Study that related to Accounting, mainly to Management Accounting. In this case, Hallstead Jewelers is facing decrease in margin of safety through decrease in sales, compared to last year
Joint costs should not be allocated to individual products for decision purposes. For what purposes are such costs allocated to products?
The trial balances before and after adjustment for Matthews Company at the end of its fiscal year are presented on the next page - Prepare the adjusting entries that were made.
Compare and contrast various cost classifications, behaviors, and drivers. You may want to consider what types of financial and nonfinancial performance metrics you will be recommending to be sure we are collecting appropriate costs
The Coastal Landscaping and Snow Removal company employs normal costing to assign overhead costs to firm's various jobs. Labor is charged to jobs at $25 per hour and for upcoming winter session, overhead is estimated at $200,000 for $10,000 hours ..
Curtis Corporation is beginning to manufacture Mighty Mint, a new mouthwash in a small spray container. The product will be sold to wholesalers and large drugstore chains in packages of 30 containers for $19 per package.
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