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Computation and evaluation of activity ratios. The following data relate to Alaska Products, Inc:
20X5 20X4Net credit sales $832,000 $760,000Cost of goods sold 530,000 400,000Cash, Dec. 31 125,000 110,000Average Accounts receivable 205,000 156,000Average Inventory 70,000 50,000Accounts payable, Dec. 31 115,000 108,000
Instructionsa. Compute the accounts receivable and inventory turnover ratios for 20X5. Alaska rounds all calculations to two decimal places.
Calculate the companies predetermined overhead application rate and calculate the additions to the work-in-process inventory account for the direct material used, direct labor and manufacturing overhead.
Evaluate the point price elasticity of demand for Richardson's Stores, Inc and evaluate the company's optimal shoe price if marginal cost is $10 per unit
Evaluate the overhead rates for Dept A and B and evaluate the contract cost using the rates is in question 1 and the subsequent information
Was the free furniture in the form of a discount or rebate taxable, or should the furniture company hand the customers a Form 1099-MISC?
Prepare a schedule of equivalent units and a cost of production report for Century Corporation for April. There was zero beginning work in process; 4,200 units were started; and 4,000 units were completed and transferred out
Manufacturing overhead applied to Work in Process for month was $69,450 and manufacturing overhead transferred from Finished Goods to Cost of Goods Sold through the month was $69,450.
Which of the subsequent properly portrays the components of net position for proprietary funds?
Stigler's 'private interest theory' proposes that regulatory bodies (including accounting standard setters) are made up of individuals who are self-interested, and these individuals will introduce regulation that best serves their own self-interest.
Evaluate what return should she expect anticipate on her portfolio? Determine the portfolio beta and then apply the SML.
advertising activities can be related to products by using activity-based costing. Would allocating these activities to products for financial statement reporting be acceptable according to GAAP?
Determine Sarah's deductible transportation expense, using the actual expense method.
Describe four potential problems with a traditional overhead allocation system and describe the differences between unit-related, batch-related, and product-sustaining activities. Give one example of each type of activity.
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