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The Gorga Corporation produces 15,000 units of item QT34 annually at a total cost of $600,000. Direct materials $60,000 Direct labor 165,000 Manufacturing overhead 375,000 Total $600,000 Manufacturing overhead is 36% variable. The Roseland Corporation has offered to supply all 15,000 units of QT34 per year for $35 per unit. If Gorga accepts the offer, $8 per unit of the fixed overhead would be avoided. In addition, some of Gorga's leased facilities could be vacated, reducing lease payments by $90,000 per year. Requirements By how much would Gorga's profits change if 15,000 of part QT34 are purchased from Roseland? At what price would Gorga be indifferent to Roseland's offer?
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Create a forecast of the units and cost of raw material that will be required for February, March, and April. The expected cost per pound of raw material is expected to be $2 in February, $2.30 in March, and $2.40 in April.
Cheatam Enterprises has a 4.2% merit rate on unemployment (top state rate is 5.4%). During the first week of the payroll tax year, Cheatam pays $20,000 in wages (no one employee earns over $7,000 during the week). What are the TOTAL payroll taxe..
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High Air reported a $15,000 loss for its X9 calendar year. Explain how much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation?
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The expansion will cost two million dollars, and is expected to increase operating earnings to $2,100,000. What factors should Turners manager and her supervisor, the VP of operations, consider in deciding whether to go forward with the expansion?..
On audit, an IRS agent determines that $90,000 of the amount paid to each of the shareholders is unreasonable compensation. What effect will the IRS agent's finding have on the taxable income of the shareholders and the C corporation?
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In 2011, the estimates are revised. Holt now feels the computer will be used until December 31, 2012, when it can be sold for $500. Compute the 2011 depreciation.
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