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Burns Industries currently manufactures and sells 30,000 power saws per month, although it has the capacity to produce 45,000 units per month. At the 30,000-unit-per-month level of production, the per-unit cost is $85, consisting of $50 in variable costs and $35 in fixed costs. Burns sells its saws to retail stores for $90 each. Allen Distributors has offered to purchase 6,000 saws per month at a reduced price. Burns can manufacture these additional units with no change in its present level of fixed manufacturing costs.
Assume that Allen Distributors offers to purchase the additional 6,000 saws at a price of $57 per unit.
If Burns accepts this price, Burns' monthly gross profit on sales of power saws will: Increase by $42,000. Increase by $342,000. Decrease by $168,000. Decrease by $198,000.
Prepare a production cost worksheet using the FIFO method. What is the difference between a weighted-average method of process costing and a first- in, first-out method of process costing?
Fitzgerald Company wrote checks adding $17,080 during October and $18,650 through November. - Find what was amount of outstanding checks on 30th November?
What are some methods used to detect a shell company?
A 1-year, $19,800, 12 percent note is signed on April 1. If the note is repaid on December 1 of the same year, how much interest expense is incurred? (Do not round intermediate calculations.)
The remaining hours are worked on a contingency basis. The lawyer wins $300,000 in settlements for his clients of which he receives half. Illustrate what does the lawyer earn during the year after expenses?
Visit several companies with which you are familiar to locate their annual report. Illustrate what type of audit report did these companies receive in their most recent annual report?
Generally accepted accounting principles identify two narrow criteria that must be met in order for an event or a transaction to be classified as an extraordinary item.
On the basis of this agreement, what price should the investor offer? A normal return on the fair value of net assets in this industry is 15 percent.
Whiteside Corporation issues $603,000 of 9% bonds, due in 12 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the bonds
budgeting involves computation of cash budget.eddies bar and restaurant supplies expects its revenues and payments for
Why not use trial balance to report financial information internally and externally? What limitations does it have over formal financial statements?
An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.
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