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With possibility of the US Congress relaxing restrictions on cutting old growth timber, a local lumber company is considering an expansion of its facilities. The company believes it will sell lumber for $0.18/board foot. A board foot is a unit of measure for lumber. The tax rate for the company is 30 %. The company has the subsequent two opportunities: • Build Factory A with annual fixed costs of $20 million and variable costs of $0.10/board foot. • Build Factory B with annual fixed costs of $10 million and variable costs of $0.12/board foot. Required: a. Find the break-even point in board feet for Factory A and Factory B? b. If the company wants to create an after-tax profit of $2 million with Factory B, how many board feet would the company have to process and sell? c. If demand for lumber is uncertain, which factory is riskier and Why?
Prepare the entry record any adjustments required due to the income tax rate increase.
The interest rate charged the lessee was 10 percent. Under the new ASU, the balance in the right-of-use asset after 2 years will be:
Write the adjusting entry needed to reconcile the difference between actual and normal cost
The bank will charge a 2 % finance charge on the amount of receivables transferred. The bank will collect receivables straight from customers. The sale criteria are met.
Evaluate the carrying value of inventory on each year-end balance sheet - The Ryan Hunt Company uses the dollar-value LIFO method of computing inventory
Explain the following four levels of outcome evaluation. Provide one example of how every evaluation is performed, and one factor that influences the outcome at each level.
Calculate the overall effects of these transactions on the store's reported income for 2014
Explain how much gift card revenue related to with the August 2013 gift card sales would Lizzie get to recognize in 2013 and 2014?
As the company accountant you must give the necessary information to support your recommendation to Board of Directors.
Evaluate the cost of Finished goods inventory and Work-in-process inventory. Ron requires the ending inventory balances to report first quarter numbers
Evaluate the cost of the property to be recorded in the accounts. Prepare journal entries to reflect the revaluation for both building and land of the property.
How much advertising expense could be allocated to each department and Make the required journal entries to record the above transactions and events.
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