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Reese’s Tot Toy Boxes uses variable costing to manage its internal operations. The following data relate to the company’s first year of operation, when 25,000 units were produced and 21,000 units were sold. Variable cost per unit Direct material $50 Direct labor $30 Variable overhead $14 Variable selling costs $12 Fixed Costs Selling and administrative $750,000 Manufacturing $500,000 How much higher (or lower) would the company’s first-year net income have been if absorption costing had been used rather than variable costing? Show computations.
The expected return on plan assets and the settlement rate were both 8%. Determine the pension expense to be reported in 2011. Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2011.
Illustrate who discovered the fraud? Did external auditors discover or fail to discover the fraud? Were external auditors implicated in the fraud?
Prepare the suitable journal entry to record the year-end discount amortization on December 31, 20X7 and prepare the suitable journal entry to record the payment of the note on 31 st March, 20X8.
What is the target cost for the new price if target operating income is 20% of sales? and What is the change in operating income for the year if $18.00 is the new price and costs remain the same?
Evaluation of Current price per share and Supernormal Growth Dividend
Purpose Direct materials Price Variance Efficiency varianceLabor rate variance Labor Efficiency Variance and pass necessary comments.
Purpose Smart Toys income statement performance report for 2009, including both flexible budget variances and sales volume variances.
Finding the changes of annual profits be increased or decreased - If the order is accepted, by how much will annual profits be increased or decreased?
Illustrate what amount should Unruh report in its 2007 income statement for unrealized holding loss? What steps do I follow to get $25,000.
Shortly thereafter, Brenda sells 10 shares to Aquarius for $200.00 in an exchange that had been agreed to in the preceding year. What result to both Ann and Brenda? What if Brenda sold 11 shares versus 10 shares?
Elucidate how the use of the losses in Part a would change if instead Raider were a partnership, and Monte and Allie were partners who shared profits, losses, and liabilities equally.
white corporation, a closesly help personal service corporation has $150000 of passive losses, $120000 of active business income and $30000 of portfolio income. Explain how much of the passive loss may white corporation deduct
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