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Real Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning next month's budget appear below:
Selling price $25 per unit
Variable expenses $15 per unit
Fixed expenses $8,500 per month
Unit sales 1,000 units per month
Required:
1) Compute the company's margin of safety.
2) Compute the company's margin of safety as a percentage of its sales.
Phoenix Corporation has a joint process that produces three products: X, Y, and Z. Each product may be sold at split-off or processed further and then sold. Joint- processing costs for a year amount to $100,000. Other relevant data are as follows:
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Evaluate and discuss how the under billings should have been accounted for in the original financial statements.Should the under billings be treated as gain contingencies? Explain your position.
Prepare a report of net cash flow from operating activities.
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On January 1, 2009, Mania Enterprises issued 12% bonds dated January 1, 2009, with a face amount of $20 million. The bonds mature in 2018 (10 years).
What percentage of istock s needed to have one of her friends elected under the cumulative voting rule? (Do not round intermediate calculations and round your final answer to 2 decimal places.
On july 2, 2010 Redford issued a 10% stock dividend on its common stock, and paid a cash dividend of $2.00 per share on its preferred stock. Net income for the year ended December 31, 2010 was $780,000. What should be Redford's 2010 basic earnings..
Gladys owns a retail hardware store in Tangipahoa. She is considering opening a business in Hammond, a community located 25 miles away. She incurs expenses of $60,000 in 2010 in investigating the feasibility and desirability of doing so. What amou..
The market value of the common stock at the date of the conversion was $30 per share. What total amount should be credited to additional paid-in capital from common stock as a result of the conversion of the preferred stock into common stock?
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