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A merchandising firm sells a single product. the companies revenues and expenses for the last three months are given below.
April May Junesales in units 4500 5250 6000sales revenue 630000 735000 840000COGS 252000 294000 336000Gross Margin 378000 441000 504000Selling & Admin Expenses:Shipping Exp 56000 63500 71000Adv. exp 70000 70000 70000sal and Comm 143000 161750 180500insurance exp 9000 9000 9000depreciation exp 42000 42000 42000total selling&admin exp 320000 346250 372500Net Operating Exp 58000 94750 131500
Required:
a) Determine which expenses are mixed and, by use of the high low method, seperate each mixed expense into its variable and fixed components. state the cost formula for each mixed expense.
b) Compute the company's total contribution margins for May.
On September 3, 2008, Jackson Corporation purchases goods for a U.S. dollar equivalent of $17,000 from a Swiss company. The transaction is denominated in Swiss francs (SFr). The payment is made on October 10.
Provide your manager a comparison of the current reporting for debt,explaining the requirements for each type (bond, mortgage, capital lease, andothers). Then, prepare the journal entries for the restructuring.
Sweet Dreams manufactures candy. Its records revealed the following.
some disclosure notes are not always applicable to every business. However some are required to be included with financial statements. Which disclosures are required?
Alternatively, ABC can sell 9.5 percent coupon bonds with a 2-year maturity and $1,000 par value at a price of $950.00. How many percentage points lower is the interest rate on the less expensive debt instrument?
Use the elements of the fraud triangle discussed in the chapter to identify internal control risks that should have influenced KPMG's position.
What are some of new tools information technology has provided that contribute to unethical behaviour?
Clyde agreed to surrender his Red stock in exchange for $600,000. clyde's basis in his shares was $143,000 and he held the shares for 17 years. the agreement made no explicit allocation of any of the $600,000 to clyde's agreement not to compete ag..
Ritz-Carlton is a management company for the underlying hotel owners. If the Ritz-Carlton Laguan Niguel had an unfavorable variance from budget greater than 5% allowed and greater than the othe rhotels, then the most probably cause for the shortfa..
Question: San Jose Company issued 5-year $200,000 face value bonds at 105 on January 1, 2012. The stated interest rate on these bonds is 9%. Use the straight line method to complete the amortization schedule given.
Define the term business combination and differentiate across various forms of business combinations. Describe when consolidation of financial information into a single set of statements is necessary.
"The production department started the month with the beginning goods in process inventory of $350,000. During the month, it was assigned the following costs: direct materials, $192,000; direct labor, $90,000; overhead applied at the rate of 30% o..
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