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Sam Company has just received a special, one-time order for 1,000 units. Producing the order will have no effect on the production and sales of other units. The buyer's name will be stamped on each unit, at a cost of $2,000. Normal cost data, excluding stamping, follows:
Direct materials $10 per unit
Direct labor 16 per unit
Variable overhead 4 per unit
Allocated fixed overhead 12 per unit
Allocated fixed selling expense 8 per unit
What selling price per unit will this company require to earn $3,000 on the order?
Ron, a calendar year taxpayer subject to a 35% marginal tax rate, claimed a charitable contribution deduction of $500,000 for a sculpture that the IRS later valued at $150,000. The applicable overvaluation penalty is:
For the fiscal year,sales were $5,280,000,sales discounts were $100,000, sales returns and allowances were $75,000 and the cost of the merchandise sold was $3,000,000. (A) what is the amount of net sales?
Minne Corp is considering the purchase of a new piece of equipment. When discounted at a hurdle rate of 8%, the project has a net present value of $24,580. When discounted at a hurdle rate of 10%, the project has a net present value of ($28,940). ..
Capital stock is an important area of a corporation's equity section. Generally the term "capital stock" embraces common and preferred stock issued by a corporation.
Peyton's incremental borrowing rate was 12 percent throughout 2011, and the total amount of interest incurred by Peyton during 2011 was $204,000. What amount should Peyton report as capitalized interest at December 31, 2011?. $480,000
What amount of the bond issue proceeds should Evan record as an increase in equity?
At December 31, 2008, McGovern Company overstated ending inventory by $50,000. How does this error affect net income for 2009?
Discuss the use of job order costing for professional services businesses. What are the similarities and differences between service and manufacturing business job order costing?
The authorized stock of a corporation
On January 1, 2003, ABC co. purchased a building and machinery that have the following useful lives, salvage value, and costs-Prepare the journal entry necessary to record the depreciation expense on the building in 2008
What are the advantages and disadvantages of using a LIFO inventory system?
Compute the net present value and internal rate of return to determine the financial feasibility of this project.
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