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Kramer Enterprises reports year-end information from 2015 as follows: Sales (160,000 units) $960,000 Cost of goods sold 640,000 Gross margin 320,000 Operating expenses 260,000 Operating income $60,000 Kramer is developing the 2016 budget. In 2016 the company would like to increase selling prices by 12.5%, and as a result expects a decrease in sales volume of 9%. All other operating expenses are expected to remain constant. Assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. What is budgeted sales for 2016?
The Windshield division of Fast Car Co. makes windshields for use in Fast Car's Assembly division.
Comment on amortization of NBA Franchise and other intangible assets - Would the discontinued operations be included in projecting the future?
1.Refer to Polaris financial statements in Appendix A. Compute its profit margin for the years ended December 31, 2011, and December 31, 2010.
Research and find financial statements for two companies of your choosing. Drawing on information from this module and the course, analyze the statements and write an essay summarizing which of the two is a better investment.
Prepare a statement of owner's equity for April. The statement of owner's equity for a proprietorship is similar to the retained earnings statement for a corporation.
According to Martin and Steele (2010, p.13), "The two principal professional associations in Australia - CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significanc..
Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold for last years accounts.Explain why some items have been excluded from the Schedules.
The company exercises the call option after the semiannual interest is paid on June 30, 2011. Record the entry to retire the bonds - Record the entry for the conversion of the bonds.
Yummy-Pop Ltd makes lollipops in two sizes, large and giant. The company sells these lollipops to convenience stores, fairs, schools for fundraisers, and in bulk on the Internet.
What would you include in a job description for a new cashier? How about a sales person? What is included on your job description? Are there functions you perform that are not in your job description?
Prepare its statement of cash flows under the indirect method.
The operating budget depends on key information developed in the..
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