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An internal transfer between two divisions is in the best economic interest of the entire organization when:
a. the variable costs plus the opportunity cost of the selling division is greater than the external price for the buying division.
b. the variable costs plus the opportunity cost of the selling division is less than the external price for the buying division.
c. there is excess capacity in the buying division with no alternative use.
d. there is no established market prices for the buying division.
A physical inventory on December 31 shows 2,000 units on hand. Holliday sells the units for $12 each. The company has an effective tax rate of 20%. Holliday uses the periodic inventory method. If the company uses FIFO, what is the gross profit for..
Shonen Knife Corporation has elected to use the fair value option for one of its notes payable. The note was issued at an effective rate of 11% and has a carrying value of $16,000. At year-end, Shonen Knife's borrowing rate has declined; the fair ..
The beginning inventory (Jan. 1, 2010) was $170,000; in the past Felt's gross profit has averaged 40% of selling price.
A is a fixed expense; B is a variable cost. During the current year the level of activity has reduced but is still within the relevant range.
Also during 2006 regional sells all the inventory pruchased in 2005 and 2006 to unrelated entities. What is the adjustment to cost of goods sold in the 2006 worksheet elimination?
Marketability Commercial banks use some funds to purchase securities and other funds to make loans. Why are the securities more marketable than loans in the secondary market?
Vincent's gifts for the year before considering the annual gift tax exclusion total
Of the several uses of standard costing, one of the most controversial is using these standards for performance evaluation of an individual, team, or unit. Consider the labor efficiency variance and assume it is one of the measures for a company's..
XYZ Company is building a new hockey rink at a cost of $1,500,000. It received a down payment of $500,000 from local businesses in support of the project and now needs to borrow $1,000,000 to complete the project. It therefore decides to issue $1,..
On march 2, the two 50% shareholders of a calendar year corporation decide to elect S status. One of the shareholders, Terry, purchased her stock from a previous shareholder (a nonresident alien) on January 18. Identify any potential problems for ..
Budgeting is an important internal activity. Preparing budgets involve forecasting sales and estimating costs. For this SLP, you will prepare a flexible budget for next year for the company of your choice. The budget needs to be realistic and base..
Name the steps in completing the accounting cycle and explain how they impact the financial statements. What happens is a step is missed? Explain.
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