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Seasons manufacturing manufactures a product with a unit variable cost of $100 and a unit sales price of $ 176. Fixed manufacturing costs were $480,000 when 10,000 units were produced and sold. The company has a one-time opportunity to sell an additional 1,000 units at $140 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:
A. Income would increase by $8000
B. Income would increase by $140,000
C. Income would decrease by $8000
D. Income would increase by $40,000
Briefly describe three strategies for testing internal controls when information technology is used for significant accounting processing.
Axel Corporation acquires 100% of the stock of Wheal Company on December 31, Year 4. The following information pertains to Wheal Company on the date of acquisition:
When assessing risk factors due to errors and fraud, what are some types of examples of these? Have you seen this occur in the workplace past/present/familiar with a situation? - Answer 150-200 words.
Cost allocation is the process of assigning costs to departments that generate charges that include those costs. An example of this would be allocating the cost of electricity to the pediatric unit of a hospital. Provide an example of how a cost i..
On January 1, a company issued and sold a $394,000, 9%, 10-year bond payable, and received proceeds of $389,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The journal ..
Tanner Company was acquired for cash in a transaction that created goodwill. At what amounts will the building and land be reported in the consolidated balance sheet immediately following the purchase?
Product X can be sold for $5 and Product Y for $4. Joint costs for the two products totaled $4,000 for January for 600 units of X and 500 units of Y. What are the respective joint costs assigned each unit of products X and Y if the sales value at ..
Kelly does not want to be out of stock on more than 1% of his orders. There is a one-day delivery time. The standard deviation of demand is five plugs per day. Assume a normal distribution of demand during lead time and a 7-day work week.
ABC Company has a beginning Work-in-Process Inventory of 25,000 units (40% complete). During the period, 110,000 units were started and the ending Work-in-Process Inventory consisted of 20,000 units (80%). What are the equivalent units for convers..
William County opted to account for its duplication service center in the internal service fund. Previously the center had been accounted for in county's general fund. During first month in which it was accounted for as an internal service fund cent..
Due to an increase in demand, the company estimates that sales will increase by $53,000 during the next year. By how much should net operating income increase (or net loss decrease) assuming that fixed costs do not change?
What is the inventory turnover for 2014?
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