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The adjusted trial balance of Faulk Company shows the following data pertaining to sales at the end of its fiscal year, October 31, 2012: Sales Revenue $800,000, Freight-out $12,000, Sales Returns and Allowances $24,000, and Sales Discounts $12,000.
Instructions
(a) Prepare the sales revenue section of the income statement.
(b) Prepare separate closing entries for
(1) sales revenue and
(2) the contra accounts to sales revenue.
The job costing system of Johnsons custom shop has five activities which are employed as indirect cost pools
Which alternative would you recommend that the company accept? Show all computations using the net present value approach. Prepare separate computations for each project.
Determine the best sales mix. Rank the services offered in order of their profitability and what would be the total contribution margin generated by Ortiz, assuming the weight-loss support group has the maximum number of patient billings?
Custom Metal Works produces castings and other metal parts to customer specifications. The company uses a job-ordercosting systemand applies overhead costs to jobs on the basis of machine-hours.
Major ethics systems (antinomianism, generalism, situationism, nonconflicting absolutism, conflicting absolutism
Demand for the company's products is very strong, with far more orders each month than the company can produce with the available raw materials.
Burlington Clock Works manufactures fine, handcrafted clocks. The firm uses a job-order costing system, and manufacturing overhead is applied on the basis of direct-labor hours.
Unit- and Batch-Level Cost Drivers. How much will the batch costs increase if the government raises the minimum wage to $10 per hour?
If the company wishes to earn an after-tax income of $3,000,000, what is the break even in units? Assume that the corporate income tax rate is 40%.
part 1 essay question worth 10 of total overall marks.explain the difference between the job descriptions of a
What are the benefits of risk management? What is the difference between hard and soft risk management benefits? Why would an organization choose one risk management benefit over another?
steve morgan controller for newton industries was reviewing production cost reports for the year. one amount in these
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