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Dempster Company reported the following results from the sale of 5,000 units in May: sales $300,000, variable costs $180,000, fixed costs $90,000, and net income $30,000. Assume that Dempster increases the selling price by 5% on June 1. How many units will have to be sold in June to maintain the same level of net income?
Williard Corporation regularly sells inventory items to its subsidiary, Petty, Inc. If unrealized profits in Petty's 20X1 year-end inventory exceed the unrealized profits in its 20X2 year-end inventory, combined
You are a senior auditor working on a client who holds a large portfolio of mortgage obligations. Due to the soft housing market, the client has established a fairly significant loan loss reserve.
a.in order to assist the managers and board of management you are compiling a resource which will define the various
harrison ford company has been approached by a new customer with an offer to purchase 10000 units of its model ij4 at a
the varone company makes a single product called a hom. the company has the capacity to produce 40000 homs per year.
During this past year Pat's collected $42,000 in tailoring fees, and paid $14,000 in expenses. Depreciation expense totaled $2,000. Accounts receivable increased $1,500, supplies increased $4,000, and accrued liabilities increased $2,500. Pat's ac..
One of the qualitative characteristics included in the revised framework is "faithful representation". Please evaluate the significance of faithful representation in the preparation of Financial Statements. You should Explain the term "faithful re..
Explain the following in a memo to your instructor. The comparative advantages and disadvantages of ideal versus normal standards.
What type of tax rate structure does the U.S. tax system apply? What are the individual tax forms, and what factors are used to determine which one to use? What is taxable income, and how is it determined?
Explain the concept behind the formulas of computing the variance analysis of direct materials, direct labor and factory overhead
the stockholders equity accounts of miley corporation on january 1 2014 were as follows.preferred stock 7 100 par
In the current year, Donna gives $50,000 cash and $30,000 of stock to Mike. She also gives $40,000 of tax-exempt bonds to Angela. Her husband, Andy, gives $200,000 of land to Angela. Assume the couple elects gift splitting for the current year.
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