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The following data apply to Gordon Company for 2012:
Sales revenue (120 units at $35 each) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,200Variable selling expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 630Variable administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 425Fixed selling expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 620Fixed administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310Direct labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .750Direct materials. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .840Fixed manufacturing overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150Variable manufacturing overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37
1. Prepare a contribution margin income statement. Assume there were no beginning or ending inventories in 2012.
2. How much would Gordon Company have lost if only 80 units had been sold during 2012?
What do you think may have been the underlying reason for Nortels behavior relative to the manipulation of the valuation allowance?
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axis corporations inventory transactions for the present monthjune 1 balance 300 units 65 each june 16 sale 400 units
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biando corporation began operations on 1st may 2010 and completed the subsequent transactions during its first month of
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