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The following information is available for Dunworth Canoes, a company that builds inexpensive aluminum canoes:
In its first year of operation, the company produced 18,000 units but was able to sell only 16,000 units, In its second year, the company needed to get rid of excess inventory (the extra 2,000 units produced but not sold in 2011) so it cut back production to 14,000 units.
Required:
a. Calculate profit for both years using full costing.b. Note that profit has declined in 2012. Is company performance actually worse in 2012 compared to 2011?c. Calculate profit for both years using variable costing.d. Does variable costing profit present a more realistic view of firm performance in the two years?Explain.
Selected comparative financial statements of Tripoly Company follow.
Summarize five arguments often used to justify trade restrictions, and describe some unintended consequences of protecting certain industries from international competition
Suppose that your team is going to form the company that will manufacture chocolate chip cookies. The team is responsible for preparing list of all product components and costs necessary to make this product.
Prepare journal entries to record the November transactions, post the journal entries to general ledger accounts - prepare a trial balance at November 30.
Prepare job cost sheets for each of the five catering jobs.
performance drinks llc is owned by dave n. port. performance drinks produces a variety of sports centered drinks. they
Identify events as asset source asset use (ua) asset exchange or claims exchange Prepare an income statement, a statement of changes in stockholders equity, a balance sheet and a statement of cash flows.
Prepare the necessary journal entry, assuming the decline in value was immaterial.
Determine the cash disbursement for manufacturing overhead for the quarter and determine the predetermined overhead rate for the quarter.
If the company wishes to earn an after-tax income of $3,000,000, what is the break even in units? Assume that the corporate income tax rate is 40%.
Further information was determined by examining the company's 2014 income statement.
Shown here are annual financial data at December 31, 2013, taken from two different companies.
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