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Fahrenheit Co. manufactures a product that requires the use of a considerable amount of natural gas to heat it to a desired temperature. The process requires a constant level of heat, so the furnaces are maintained at a set temperature for 24 hours a day. Although units are not continuously processed, management desires that the variable cost be charged directly to the product and the fixed cost to the factory overhead. The following data has been collected for the year:
Month Units Cost
Jan 2,400 4,400
Feb 2,300 4,300
Mar 2,200 4,200
Apr 2,000 4,000
May 1,800 3,800
Jun 1,900 3,900
Jul 2,200 4,400
Aug 2,100 4,100
Sep 2,000 3,800
Oct 1,400 3,400
Nov 1,900 3,700
Dec 1,800 4,050
Total 24,000 $48,050
1. Separate the variable and fixed elements, using the high-low method.
2. Determine the cost to be charged to the product for the year.
3. Determine the cost to be charged to factory overhead for the year.
Identify some additional control procedures that the company might implement to reduce the monthly loss from theft of office supplies by employees.
Garrison Co. owns 20,000 of the 50,000 outstanding shares of Steele, Inc. common stock. During 2011, Steele earns $800,000 and pays cash dividends of $640,000. If the beginning balance in the investment account was $500,000, the balance at Decembe..
Browne and Red, both C corporations, formed the BR partnership on january 1, 2009.neither Browne nor Red is a personal service corporation, and BR IS NOT A TAX SHELTER. BR'S GROSS RECEIPTS WERE $4.6 million, $5 million, $6 million, and $7 million ..
Now assume that eh interaction is sequential where Holland Sweetener chooses to enter and if so they face the pricing problem in the second stage. Should Holland Sweetener enter?
Short term debt has a few advantages such as the economical advantages of obtaining it at a short notice, the flexibility of being able to meet financial needs, and the possibility of renewal by extension.
A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $43,500. The stock has no stated value.
Risk aversion implies which some securities will go unpurchased in market even if a large risk premium is paid to investors.
This is the data table about my city that I live in 1990 and 2000 and difference 1990 2000 Difference-What information from this table do you find to be most interesting? Give 2 to 4 sentences of explanation.
O'Bria Service Company purchased a copier on January 1, 2012, for $17,000 and paid an additional $200 for delivery charges. The copier was estimated to have a life of four years or 800,000 copies.
Explain the steps to take for a money market hedge. You need to describe clearly the amounts which are related to the actions to take.
On December 31, 2013, the child crisis center establishes an endowment fund with a $5 million gift of securities. Income from the endowment is to be used exclsuively to support a nutrition program.
A small business owner holds $4,000 in cash; $1,200 in materials; $10,000 in land and $32,000 in plant and equipment. His accounts payable total $9,000 and he has an outstanding bank loan totaling $18,800. what is the owners equity?
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