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The following costs results from the production and sale of 4,000 drum sets manufactured by Vince Drum Company for the year ended Dec. 31,2011. The Drum sets sell at 250 each. The company has a 25% income tax rate.
Variable production costs Plastic for casing ........................................$68,000 Wages of assembly workers........................328,000 Drum stands.................................................104,000 Variable selling costs Sales commissions........................................60,000 Fixed manufacturing cost Taxes on factory...........................................10,000 Factory maintenance....................................20,000 Factory machinery depreciation....................80,000 Fixed selling and administrative cost Lease of equipment for sales staff...............20,000 Accounting staff salaries...............................70,000 Administrative management salaries...........150,000 Prepare a contribution margin income statement for the company compute its contribution margin per unit and its contribution margin ratio.
adam smith is a self-employed artist and is married with four children. on 1 april 2013 he borrowed a sum of money to
Mary is an employee of Robert's CPA business who has earned a $50,000 bonus. GR Systems pays Mary $50,000 and also issues Mary Form 1099-Misc. How much gross income is reported by Robert? By Mary?
heather company uses the weighted-average method in its process-costing system. operating data for the first processing
Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with remaining 40% collected in the following month. What is the total cash collected (both from accounts receivable and for cash sales) in the month of January?
1. the budget procedure that requires all levels of management to start from zero in estimating sales production and
Now FASB required that all employee stock options should be expensed on income statement. On Jan. 2005, AA company granted total $100,000 (fair value) of stock options to the employee.
Select a scholarly empirical journal article* in Business and craft a response that adheres to the following: Please do not use quotes or copy definitions. You must also place a reference list at the end of your work containing the textbook and the ..
many accounting writers have emphasized the effect that the allocation of fixed overhead can have on managerial
the comparative statements of villa tool company are presented below. villa tool company income statement for the year
at the beginning of the current period griffey corp. had balances in accounts receivable of 232200 and in allowance for
the standard cost card for a product indicates that one unit of the product requires 8 kilograms of a raw material at
on january 1 2014 hammer company listed the following shareholders equity section of its balance sheetcontributed
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