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During 2012, Rafael Corp. produced 54,300 units and sold 38,010 for $14 per unit. Variable manufacturing costs were $7 per unit. Annual fixed manufacturing overhead was $114,030 ($3 per unit). Variable selling and administrative costs were $3 per unit sold, and fixed selling and administrative expenses were $18,710. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 54,300 units to allocate the fixed overhead rate rather than the actual production volume of 38,010 units. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs.
Calculate the manufacturing cost per unit.
moore corportation follows a policy of a 10 depreciation charge per year on all machinery and a 5 depreciation charge
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the information on the following page is available for barkley company at december 31 2003 regarding its
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Jasmine made a $50,000 interest-free loan to her son, Jason, who used the money to retire a mortgage on his personal residence. Jason's only sources of income were a salary of $75,000 and $1,500 interest income on a savings account. The releva..
A machine that originally cost $25,000 and was depreciated on a straight line basis has one year of its expected 5-year life remaining. Its current value is $12,000. The corporate tax rate is 34%.
Assuming everything else is the same, is this simple concentration on the dividend payout of the company a good valuation technique? Take the FALSE approach with your answer.
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Fleming Company has the following items: write-down of inventories, $240,000; loss on disposal of Sports Division, $370,000; and loss due to an expropriation, $226,000. Ignoring income taxes, what total amount should Fleming Company report as extr..
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