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Hinrich Entertainment distributes a DVD which sells for $12 per unit. Hinrich pays $7 per unit to buy the product. Selling cost of $1 per unit is incurred to deliver the product to the customer. This is paid in cash when the product is sold. Additionally, Hinrich has $50,000 per month in fixed selling and administrative expenses, which are paid half in the month incurred and half in the next month. It is Hinrich's policy to maintain an inventory at the end of each month equal to 30% of the next month's projected cost of sales. Hinrich makes 30% of sales in cash, and the rest are on credit. Credit sales are collected in the month after sale. Budgeted monthly sales in units for the first five months?
the final exam covers modules 01-10 and consists of a series of short answers to given questions or statements. in a
knox company begins operations on january 1. because all work is done to customer specifications the company decides
which of the following statements concerning audit evidence is true?a clients accounting data can be sufficient audit
on august 31 2012 daisy floral supply had a 155000 debit balance in accounts receivable and a 6200 credit balance in
Compute the rate variance, the efficiency variance, and the total direct labor cost variance for each of these two months. (Input all amounts as a positive value.
e3-8 adjusting entries andy roddick is the new owner of ace computer services. at the end of august 2014 his first
The human resources department costs are allocated using the direct method and based on the number of employees, and the total amount of costs for the department is $187,000.
What amount should White report as Cost of Goods Sold in the 2011 income statement?
on june 8 alton co. issued an 76466 7 120-day note payable to seller co. assuming a 360-day year for your calculations
Wheeler Corporation had retained earnings of December 31, 2008 of $ 12 million. During 2009, Wheeler's net income was $ 4 million. The retained earnings balance at the end of 2009 was equal to $ 13 million. Therefore, _________
question 21 figure 4-1. foster company makes power tools. the budgeted sales are 420000 budgeted variable costs are
Each product may be sold at the split-off point or processed further. Joint production costs of $95,000 per year are allocated to the products based on the relative number of units produced.
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