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Candies Inc. manufactures and sells two products, marshmallowbunnies and jelly beans. The fixed costs are $350,000, and the sales mix is 70% marsh mallow bunnies and 30% jelly beans. The unit selling price and the unit variable cost for each product areas follows:
Products Unit SellingPrice Unit Variable Cost
Marshmallowbunnies 2.40 1.00
Jelly beans 1.80 0.90
Prepare the journal entries to record these transactions on the books of Harwicks Co. under a perpetual inventory system.
December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60%) and to goodwill (40 %). On a consolidated balance sheet as of January 2, what would be the amount for ea..
Building an Income Statement, During the year, the Senbet Discount Tire Company had gross sales of $1.06 million. The firm's cost of goods sold and selling expenses were $525,000 and $215,000, respectively. Senbet alo had note payable of $800,000...
Suppose all interest is paid at maturity and none of the notesare paid early. How much cash will be paid for the January 1 note, plusinterest, on October1?
ABC Corp distributed land to its sole shareholder, DEF Corp, in a liquidating distribution. At the time of the distribution, the land had a fair market value of $240,000 and ABC Corp's adjusted basis in the land was $200,000.
Nachman Industries just paid a dividend of D0 = $1.32. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 5% in year 3 and thereafter. The required return on this low risk stock is 9%. What..
evaluate the "Off the Balance Sheet Arrangements" reflected in the 10-Qs of Freddie Mae and Freddie Mac. Explain how these red flags were ignored by the SEC and its public accounting firm.
A company has installed a piece of machinery for a total of $76,000. In its third month of operation, repairs of $1,300 had to be made on the machine. This $1,300 would be:
Ferman Corporation's common stockholders' equity at the beginning and end of 2010 was $870,000 and $1,130,000, respectively. Ferman Corporation's payout ratio for 2010 was ?
The actual supplies cost for the month was $9,500. The supplies cost in the flexible budget for January would be closest to:
The inventory cost Yukon $260,000 and was sold to Ontario for $390,000. Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit which should be eliminated in the consolidation pr..
A bond with a five-year term to maturing, a 12 percent coupon (annual payments), and a market yield of 10 percent.
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