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MEGA offers a includes 1 coupon in each box of soap powder that it packs, 8 coupons being redeemable for a premium consisting of a kitchen utensil. In 2010, Moon Company purchased 12,000 premiums at $1.50 each, purchased 800000 boxes of soap powder at 0.20 and sold 225,000 boxes of soap powder @ $50 per box. Based on past experience, it is estimated that 80% of the coupons will be redeemed. During 2010, 80,000 coupons were presented for redemption. During 2011, 40000 premiums were purchased at $2 The company purchased 6000000 at 0.20, sold 275,000 boxes of soap at 0.50 and 120,000 coupons were presented for redemption. Instructions Prepare all the entries that would be made relative to sales of soap powder and to the premium plan in both 2010 and 2011. Assume a FIFO inventory flow.
overhead allocation computation the unit cost of product uses an abc system cost drivers machine hours materials
Which of the following is an example of a variable cost and Which one of the following statements best explains why companies want to distinguish between direct and indirect costs
BTW Corporation has taxable income in the current year that can be offset with an NOL from a previous year. Illustrate what is the nature of the book-tax difference created by the net operating loss deduction in the current year?
all firms are earning zero economic profits but are operating below their minimum efficient scale. Explain the long-run adjustments that will create equilibrium with firms operating at their minimum efficient scale.
a firms total cost and marginal cost functions are TC = 10 Q2 +2 Q-2 MC = 20 Q +2 Assuming the market price is 42 and that the marginal revenue is also 42 is constant at all output levels how much output will this firm sell produce to maximize ..
questionhendricks has run the produce club for the first 10-week season. beforehand becoming a farmer harvey had been a
Increase the mortgage amount to include the $18,000, bringing the total amount financed to $187,100. Calculate the total interest paid over the life of the loan for each of these options.
Why would reclassifying period costs and product costs increase this period's reporting earnings and do you believe Smith's actions are ethical?
King Company owns a 90 percent interest in the outstanding voting shares of Pawn Company. No excess fair-value amortization resulted from the acquisition. Pawn reports a net income of $110,000 for the current year. Intra-entity sales occur at regu..
the bennington company uses the perpetual inventory system and the fifo inventory cost method. the bennington company
target cost for the new price and change in operating income for the year.we-catch corporation manufactures fishing
product x-47 is one of joint products in a joint manufacturing process. management is studying whether to sell x-47 at
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