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Toy Box Inc. is contemplating expanding their sales of their children's toys. The have an opportunity to stock and sell the X toy that has been a big hit with children everywhere. They need to order the X toys from the manufacturer in a minimum order of 100 at a cost of $12 each. They could resell the X toy in their store for $22 each. Due to anticipated demand, Toy Box Inc. will need to hire an additional part-time cashier at $600 a month which will be classified as a fixed-cost attributable to the X toy. Also, they have offered a $1 sales commission per toy to their floor sales representative. They will also include a package of trading cards with every purchase of an X toy, which will cost them an additional $2 each. Required:To make the project worthwhile, Toy Box Inc. would require a $5,000 profit per month. What level of sales in units and in dollars would be required to reach this target profit? Show all computations. Assume that the venture is undertaken and an order is placed for 100 X toys. What would be Toy Box's break-even point in units and in sales dollars? Show computations and explain the reasoning behind your answer. You can ignore the fixed cost of $600 for this part.
In your opinion, should the other partners allow the problem partner to re-establish their level of compensation when there was originally an issue? Why/why not?
stock optionsprepare the necessary entries from 1110-2112 for the following events using the fair value method. if no
Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2015?
Eagle Tools, Inc., the manufacturer of the gun, for product liability, on the ground of strict liability. What are the elements for an action based on strict liability? In whose favor is the court likely to rule?
What is meant by the net realizable value for accounts receivable? What is aging of accounts receivable, and how is it used to account for uncollectible accounts? How is the accounts receivable turnover computed? What information does this ratio prov..
The incremental borrowing rate for the lessee is 10%; the lessor's implicit rate is 8% and is known by the lease. The present value of an annuity due of 1 for six years at 10% is 4.79079. The present value of an annuity due of 1 for six years at 8..
The following cost card was found in the Inventory ledger for part AAA. Direct Materials $600, 20 hours of Direct Labor at $20 per hour $400, manufacturing overhead is applied at $15 per direct labor hour, one third of the overhead is fixed the re..
Presented below is information related to Greene Company. Compute the inventory by the conventional retail inventory method.
When moving from the changes in fund balances in the Statement of Revenues, Expenditures and Changes in Fund Balances to the changes in net assets in the Statement of Activities, what will be the adjustment?
Which of the following is not an expense recognition approach recognized by the FASB as an expense recognition principle to properly match expenses against revenues?
What are the limitations of using break-even point and how would you incorporate this point with management strategic planning? 100-200 words please.
Assume that a company purchases land for $1,000,000, paying $400,000 in cash and borrowing the remainder with a long-term notes payable. How should this transaction be reported on a statement of cash flows?
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