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Materials used by Aro-Products Inc. in producing Division 3'sproduct are currently purchased from outside suppliers at a cost of$15 per unit. However, the same materials are available fromDivision 6. Division 6 has unused capacity and can produce thematerials needed by Division 3 at a variable cost of $12 per unit. A transfer price of $13 per unit is established, and 50,000 units of material are transferred with no reduction in Division 6'scurrent sales. How much would Division 3's income from operations increase?
a. $150,000
b. $50,000
c. $0
d. $100,000
Kent Company had 800 units of product in its work in process inventory at the beginning of the period. During the period 3,000 additional units of product were started.
Prepare journal entries for the transactions listed above. Prepare an updated Dec 31st trial balance, reflecting the unrecorded transaction-Prepare a multiple-step income statement for the year ending Dec 31st. Prepare a retained earnings statement f..
Risk aversion implies which some securities will go unpurchased in market even if a large risk premium is paid to investors.
A fire destroyed the inventory on January 20, 2011 except for purchases in transit, FOB shipping point of $6,000, and goods having a selling price of $4,700 that were salvaged from the fire. Compute the cost of the inventory lost in the fire.
If the standard deviation of back charges is $650, and alpha = 0.05, test the claim of the engineering firm. Perform an appropriate hypothesis test, showing the necessary calculations and/or explaining the process used to obtain the results.
Explain how accumulated retained earnings impact the book value of a firm's stock. Give two reasons why the market book share prices might be different. Be specific.
The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars):
Some, but not all, contributions of goods and services are given accounting recognition. In each of the following scenarios, an organization receives a contribution in kind. Prepare journal entries, as necessary, to give them accounting recognitio..
a. How many shares of common stock were issued during 2010? What was their average issue price? b. How many shares of preferred stock were issued during 2010? What was their average issue price?
At December 31, 2006, DePaul Corporation had a $16 million balance in its deferred tax asset account and a $68 million balance in its deferred tax liability account. The balances were due to the following cumulative temporary differences:
What amount of dividend income does Ted report as a result of the distribution and what is Ted's income tax basis in the land received from Sherburne?
assess the short- and long-term impact the disaster had to the business and stakeholders. Provide specific examples to support your response.
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