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Ellen Electric has an offer from a potential supplier to provide 40,000 units at $65 each that Ellen Electric now manufactures at a total cost of $75 per unit. The manufacturing costs for 40,000 units are: direct materials $900,000; direct labor $450,000; variable overhead $900,000; and fixed overhead $750,000. All costs except $500,000 in fixed overhead will be avoided if the parts are purchased.
Required:
(A) What should Ellen Electric do in this situation? Explain fully and show your computations.
(B) Would your answer change if Ellen Electric could use the capacity that would become available to produce additional income of $125,000? Explain.
At the end of the period it is necessary to close all temporary accounts. (1) Explain why this process is required and (2) provide an example of the closing of an expense account, Rent Expense in the form of a journal entry.
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Mark Wilson, chief of personnel, has been instructed to increase the hiring of women at the Morton Cement Company.
August 31 falls on a Thursday. On Friday, September 1, the part-time employee John J. Jones was paid $250 or $50 per day for a five-day work week which ended that Friday.
In August direct labor was 60% of conversion cost. If the manufacturing overhead for the month was $54000 and the direct materials cost was $34000, the direct labor cost was:
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The stock has a beta equal to 0.75. The risk-free rate is 5.0%, and the market risk premium is 5.5%. The stock's dividend is expected to grow at some constant rate g. The stock currently sells for $50 a share. Assume that the market is in equilibr..
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