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Bell Company manufactures a product that sells for $48 per unit. Variable cost per unit is $30 and total fixed costs $1,800,000 for the current production and sales of 120,000 units.Required: Complete each of the following requirements with supporting computations.a) Using the contribution margin ratio, compute the break-even point in dollars.b) Compute the margin of safety and margin of safety ratio.120,000 current unit sales x $48 per unit = $5,760,000c) The marketing department has suggested the price per unit be dropped to $45 and $250,000 per year be spent on an advertising campaign. The marketing group forecasts these changes will result in a 20% increase in sales volume. Should this change be made? Support your answer with computations.
During 2010 Silas Inc. had sales revenue $564,000, gross profit $264,000, operating expenses $99,000, cash dividends $45,000, other expenses and losses $30,000. Its corporate tax rate is 30%. What was Silas's income tax expense for the year?
A substantial number of hours was spent by Raleigh and Mincin in resolving relatively minor differences between the confirmation replies and the accounting records. Alternative audit procedures were used for supplier who did not respond to the con..
How do you determine the tax character of a recognized gain or loss? Would you rather have a realized gain or loss or a recognized gain or loss?
1. what are the low risk auditing ares for the home depots 2. If management of the Home Depot faced tremendous pressure regarding the entity's financial performance, what opportunities might exist for them to engage in fraudulent financial reporti..
At December 31,2010 the fair value of the Carlin, Inc. bonds was $318,000. What should Richman Co. report as other comprehensive income and as a separate component of stockholders' equity?
Compute the company's basic EPS for 2009. Compute the company's diluted EPS for 2009. Compute the company's book value per share at December 31, 2009. Compute the company's book value per share at December 31, 2009 assuming conversion of the preferr..
From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Big Thumbs Company manufactures portable flash drives for computers. Big Thumbs incurs monthly depreciation costs of $15,000 on its plant equipment and monthly advertising costs of $3,000 to place advertisements in magazines. Also, each drive requ..
Why is it possible for a company to show a profit on their income statements and still go bankrupt? If you were looking at the financial statements of a company, how would you go about satisfying yourself that a company was not having cash flow pr..
Which of the following describes the internal control component "risk assessment'?
The Footwear Department of Lee's Department Store had sales of $188,000, cost of goods sold of $132,500, indirect expenses of $13,250, and direct expenses of $27,500 for the current period. The Footwear Department's contribution to overhead as a p..
Indicate how much income Telephone Sellers should recognize in January, February, March, and April.
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