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The section on cash from operating activities in the statement of cash flows for Marismo Services contained the following information:Operating Activities
Net income ..............$260,000Depreciation ...............$15,000Changes in current assets and liabilitiesAccounts receivable ............$16,000Inventories ..............$17,000Other current assets ............$8,200Accounts payable ............$13,000Short-term notes payable ..........$7,000Income taxes payable............$8,000Other current liabilities ..........$5,000Net cash provided by operating activities ...$301,200
Required:
For each of the current asset and liability accounts indicated in the operating portion of the statement of cash flows, determine whether the account increased or decreased during the year.
Larcker Manufacturing's cost accountant has provided you with the following information for January operations:
Jack's Outdoor World is the company which manufactures and sells garden furniture. They've been operating for past ten years and have the comfortable share of market.
Consider the information in Problem.
Calculate the total direct labor cost for the quarter if the company follows its no lay-off policy, but pays time-and-a-half for every hour worked in excess of 960 hours in a month?
Calculate the Degree of Operating Leverage and Margin of Safety where referenced in the answer template.
Manchester Foundry produced 45,000 tons of steel in March at a cost of £1,150,000. In April, the foundry produced 35,000 tons at a cost of £950,000. Using only these two data points, determine the cost function for Manchester following the instruc..
Estimate the company's total variable cost per unit and its total fixed costs per year and compute the company's contribution margin for July.
apnea video rental store is considering the purchase of an almost new minivan to deliver and pick up video tapes from
Suppose that the company decided to assign the accounting costs directly to the product lines using the number of transactions as the activity driver. What is the accounting cost per unit of backpacks?
Journalize the annual adjusting entries that were made - prepare an income statement and a retained earnings statement for the year ending December 31, 2011, and a balance sheet at December 31.
Precious Stones, Ltd., is a retail jeweler. Most of the firm's business is in jewelry and watches.
Prepare a revised income statement assuming the envelope product line is eliminated. Assume that a pro rata amount of advertising is avoidable, product line supervisor salaries are avoidable, depreciation and general overhead are unavoidable.
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