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Traded the old company equipment for a new truck issuing a check to complete the transaction. The old used truck cost $3,800 and on September 30, the end of the quarter, had depreciated $2,200. Straight-line depreciation on the old truck is $40 per month. The new truck listed for $19,950 with an allowed $3,000 trade-in allowance on the purchase of the new vehicle. This trade has no commercial and no gain or loss will be recognized on this transaction.
Red Corporation manufactures hand tools in the United States. For the current year, the QPAI derived from the manufacture of hand tools was $1 million. Red's taxable income for the current year was $1.5 million. Last year, Red had an NOL of $800,0..
The following data relate to direct materials costs for November: Actual costs 4,600 pounds at $5.50 Standard costs 4,500 pounds at $6.00 What is the direct materials quantity variance?
Bayani Company is planning to sell 100,000 units for $3 a unit and will just breakeven at this level of sales. The contribution margin ratio is 40%. How much are the company's fixed costs?
Consider your health care organization or another health care organization with which you are familiar. What are the steps to develop a budget in that organization?
If ending WIP is $18,000 and ending finished goods is $15,000, how much were the cost of goods manufactured and the current manufacturing costs?
Evaluate the proposed change in credit standards and make a recommendation to the firm.
Robinson Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's sole product. According the production specifications, each completed unit requires five pounds of direct material at ..
Evaluate the reasons for the selection of the cost drivers in the discussion above and the potential impact the cost drivers will have on accurately reflecting costs and overall performance of the business.
Cost Behavior when costs are semivariable: Data from the payroll department of Dominguez Company for the past two months follow: What is the apparent variable cost per employee paid?
A company had net income of $242,000. Depreciation expense is $26,000. During the year, accounts receivable and inventory increased $15,000 and $40,000, respectively. Prepaid expenses and accounts payable decreased $2000 and $4000, respectively. T..
Linda is a qualifying tax widow in 2010. In 2010, she reported $75,000 of taxable income (all ordinary). What is her gross tax liability using the tax rate schedules?
Discuss the key factors that determined the company's financial performance during the year. Discuss what the primary assets held by the company are. Demonstrate how management portrays the internal control environment of NIKON.
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