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Jordan and Taylor became friends after meeting on a reality cooking show. They have recently decided to start an Internet business to sell their delicious chocolate brownies. Their knowledge of business, unlike their totally awesome culinary skills, is questionable. Knowing that you are accounting students, they will be asking you advice now and then. You received a text that Jordan and Taylor were on their way. When they arrived, you could smell the aroma of fresh baked brownies. You are glad that you purchased a gallon of milk earlier in the day. Jordan hands you a list of ingredients for their special recipe. Meanwhile, Taylor is concerned that more than just their labor and ingredients should be taken into consideration to properly gauge a selling price. An Internet gourmet foods company, “Yumminess”, will be including “Chocolate Attack Brownies” (CAB) in their online catalog. CAB will be sold in square tins and captioned with personal greetings. Jordan negotiated a selling price to Yumminess at $10 per tin. The product cost is $8 per tin, which includes $6 of direct material and $1.50 of direct labor. Annual manufacturing overhead is estimated at $100,000 for the expected sales of 200,000 tins. Operating expenses are projected to be a fixed annual amount of $80,000. If 200,000 tins are sold, was is the total Gross Profit?
What is the purpose of notes to financial statements? If a firm does a good job presenting its financial statements, why are notes necessary?
the franc zeppo venture manufactures a product that goes during two processing departments. information relating to the
Material cost variances, use of variances for performance evaluation. Katharine Johnson is the owner of Best Bikes, a company that produces high- quality cross- country bicycles. Best Bikes participates in a supply chain that consists of suppliers, m..
The desired ending inventory of units is 15% higher than the beginning inventory of 1,000 units. total June sales are anticipated to be:
assume that you have $200,000 invested in a stock that is returning 14%, $300,000 invested in a stock that is returning 18%, and $400,000 invested in stock that is returning 15%. illustrate what is the expected return of your portfolio?
You are presented with the histories of two different ethnic groups: the Navajo and the Hopi. These two groups have been locked in a legal battle over land for decades as a result of US policy making and corporate interests (Black Mesa). Take a pos..
questionnbspjoint ventures and partnerships please respond to the subsequent from the e-activity compute a major factor
In the 1970s, a leader in the accounting profession proposed that there really needed to be only one underlying standard to govern the establishment of generally accepted accounting principles. What would be managment's most serious problem in applyi..
Fuqua Company's sales budget projects unit sales of part 198Z of 10,000 units in January. Prepare a production budget for January and February 2017. Prepare a direct materials budget for January 2017.
Prepare a table with the headings below (and a row for each type of raw material) and determine the proper balance in the Allowance to Reduce Inventory to Market account at December 31, 2009.
Describe general characteristics in an internal control structure that would increase an auditor’s assessment of control risk. Is there a quick list of some of these somewhere?
Create an argument that growth in the European market can have a significant impact on current earnings and profit for Amazon.com. Provide support for your rationale.
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