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Data below for the year ended December 31, 2009, relates to Houdini Inc. Houdini started business January 1, 2009, and uses the LIFO retail method to estimate ending inventory.
Cost RetailBeginning Inventory 66,000 104,000Net Purchase 280,000 420,000Net Markups 20,000Net Markdowns 40,000Net Sales 375,000Estimated ending inventory at retail is?On July 8, a fire destroyed the entire merchandise inventory on hand of Larrenaga Wholesale Corporation. The following information is available:Sales January 2 through July 8 700,000Inventory January 1 130,000Purchase January 1 - July 8 640,000Gross Profit Margin 30%What is the estimated inventory on July 8 immediately prior to the fire?
Consider the alternative to trashing is choosing the more profitable of the two alternatives (that the new employee looked at and did not like). Find effect will the trashing option (that the new employee wants) have on net income
The beginning inventory for Packaging consisted of 10,000 units that were 50% complete as to conversion costs and fully complete as to materials and journalize the October transactions.
Calculate the Direct material price variance and direct material quantity variance
Evaluate that the degree of operating leverage is 2.90. The output rises to 78,000 units - Find what will the percentage change in operating cash flow ?
Claire uses her own small tools, however the compan supplies a riding lawn mower for her use. Her contract at the company is the Facilities Manager who signs her monthly invoices for processing by Accounts Payable.
Explain the following four levels of outcome evaluation. Provide one example of how every evaluation is performed, and one factor that influences the outcome at each level.
Evaluate the machine capability
What is the amount of unrestricted Cash and Investments at 9/30/15 and what is the total amount of Net Position at 9/30/15?
Evaluate the payback period for each project and evaluate the net present value for each project
Calaveras Tire exchanged machinery for two pickup trucks. The book value and fair value of the machinery were $20,000 (original cost of $65,000 less accumulated depreciation of $45,000) and $17,000, respectively. To equalize fair values, Calaveras..
What is the profit or loss that Alicia should report (again, ignore any gift tax that will have been paid on the transfer from Batista to Alicia) Determine the maximum capital loss amount that Abena can use to offset her other income?
Use the absorption costing approach to evaluate the markup required to make the desired return on investment based on the subsequent information.
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