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Question 1 The Bruning Company has the following budgeted income statement for the month of May 2014. Sales (40,000 units) $2,000,000 Cost of goods sold: Direct materials $300,000 Direct labour 400,000 Variable overhead 200,000 Fixed overhead 600,000 1,500,000 Gross profit margin 500,000 Selling & administrative costs: Sales commissions (2% of sales 40,000 Delivery costs 20,000 Sales salaries 120,000 Administrative salaries 100,000 Office rental 70,000 350,000 Operating income $ 150,000 The plant has a maximum capacity of 50,000 units. A company salesperson has brought an offer from a new customer to purchase the product at a price of $35.00 per unit. The customer will pick up the order at Bruning's factory. Required: 1. Analyse the consequences for the company if they accepted the new order and: a. the customer wished to purchase 8,000 units only. b. the customer wished to purchase 14,000 units only. 2. What qualitative factors should the company consider in making this type of decision?
Rick knew that this deal was too good to be true and so he took advantage of the offer before the station owner realized what a giveaway this was. How much should Mr. Z. include in his gross income? Explain your reasoning.
problem 1 during 2012 nova inc. made several treasury stock transactions. for each of the following give the entrys
siemens made sales in two successive years 7000 units and 9000 units respectively and has incurred a loss of 10000 and
study appendix 13. consider the following data regarding factory overhead variable fixed budget for actual hours of
borderbooks company has two locations downtown and at a suburban mall. during march the company reported net income of
Comment on the appropriateness of this viewpoint. Prepare a report outlining the need for regulation in accounting and why a free market for accounting information is not ideal.
a company produces 90 cars with vc of 9000 per vehicle and 200000 in fixed costs. lets also assume the cars selling
On May 1, 2010, Stanton Company purchased $50,000 of Harris Company's 12% bonds at 100 plus accrued interest of $2,000. On June 30, 2010, Stanton received its first semiannual interest. On February 1, 2011, Stanton sold $40,000 of the bonds at 103..
Write a formula reflecting the price estimate for a house based on the number of square feet that need to be painted. Assume that John can accurately estimate the painted area (in square feet) and the amount of time it takes to complete the prep-w..
when a credit customer returns merchandise to the seller under a perpetual inventory system the seller would debit
Written, Inc. has outstanding xxx,000 shares of $x par common stock and xx,000 shares of no-par x% preferred stock with a stated value of $x. The preferred stock is cumulative and nonparticipating.
Determine the budgeted manufacturing overhead rate for each department. Prepare the necessary journal entries to summarize the March transactions for Department 100.
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