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At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted to $6,000. Using the high-low method, the estimated fixed cost element of power costs is:
A) $12,000.
B) $6,000.
C) $3,600.
D) $8,400.
Olsen Company uses the periodic inventory method and had the following inventory information available for the month of November.
Prepare a statement of retained earnings for the year.
Olgas proprietorship earned a net profit of $95,000 during the year and she withdrew $70,000 of this profit. Olga must report $70,000 net income from the proprietorship on her individual income tax return.
You have been hired as a consultant for Jones Inc. The company manufactures high-density compact disks and sells them to a wide variety of business clients.
Discuss the rationale underlying the design of the performance report you chose.
Assume that the fair value of the Dryer division is $1,100,000 instead of $1,250,000. Prepare the journal entry to record the impairment loss, if any, on December 31, 2004.
It is estimates that 16% of the cost of goods sold represents fixed factory overhead costs and that 20% of the operating expenses are fixed. Since Royal Cola is only one of many products, the fixed costs will not be materially afected if the produ..
After reading an article about activity-based costing in a trade journal for the furniture industry, Santana Rey wondered if it was time to critically analyze overhead costs at Business Solutions.
Conduct research on the selected securities (Ford and UPS) Analyze the organizations' 10K and investment reports, general economic data, and Federal Reserve data.
Prince Corporation purchased 960,000 shares of Smithtown Corporation's common stock (an 80% interest) for 21,200,000 on January 1, 2006. The 2,000,000 excess of investment cost over book value acquired was allocated to goodwill-Calculate the balan..
Land was given to the company by the State of Florida to use as a manufacturing facility site. The market value of the land at the time of the donation was $102,000. Prepare journal entries for Overland Company to record the above transactions
Gilkey Corporation began the year with retained earnings of $155,000. During the year, the company issued $210,000 of common stock, recorded expenses of $600,000, and paid dividends of $40,000. If Gilkey's ending retained earnings was $165,000, wh..
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