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Abigail's Bake Shop produces cheese bread sticks. The company expects to sell 3,000 packages of the cheese bread sticks in January, 2,800 packages in February, and 3,200 packages in March. There are 300 packages in the beginning inventory on the first of January. Also, the company wishes to maintain an ending inventory of 10 percent of the next month's sales.
How many packages should Abigail's produce in January?
How many packages should Abigail's produce in February?
Caculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 430 units occurred on June 15 for a selling price of $8 and a sale of 370 units ib June 27 for..
Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO and (3) average-cost.
The income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580, and income tax expense of $13,920.
Dolan Manufacturing Company's accounting records reflect the following inventories:
Foreaker LLC sold a piece of land that it uses in its business for $52,000. Foreaker bought the land two years ago for $42,500. What is the character of Foreaker's gain?
Calculate the amount of additional investment that the stockholders made during 2011. Assuming that the corporation declared and paid $10,000 in dividends during 2011, calcuate the amount of net income earned by the corporation during 2011.
During the past several years the annual net income of Avery Company has averaged $540,000. At the present time the company is being offered for sale. Its accounting records show the book value of net assets (total assets minus all liabilities) to..
Cash sales are 30% of total sales and all credit sales are expected to be collected in the month after the sale. What is the total amount of cash expected to be received from customers in May?
Management's inventory policy is to have ending inventory equal to 1.4 times the cost of sales for the subsequent month, although it is estimated that the cost of inventory at March 31 will be $170,000.
In each of the following independent situations, determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2010.
Burwinkel Corporation is considering a project that would require an investment of $252,000 and would last for 7 years. The incremental annual revenues and expenses generated by the project during those 7 years would be as follows:
If 15,000 units of the part are normally purchased during the year but could be manufactured using unused capacity, what would be the amount of differential cost increase or decrease from making the part rather than purchasing it?
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