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sorenson inc has sales of $5,119,000 , a gross profit margin of 32.18 percent and inventory of 1,017,000. what are the companys inventory tirn over ratio and days' sales inventory ?
All of the following are project classifications used by Bayside Memorial Hospital except
Widmer Watercraft’s predetermined overhead rate for year 2015 is 200% of direct labor. Information on the company’s production activities during May 2015 follows. Prepare a job cost sheet for each job worked on during the month. Prepare a report sho..
Lexton began operations in 2015. The company sometimes sells used warehouses on an installment basis. In those cases, Lexton reports income in its income statement in the year of the sale. Prepare the appropriate journal entry to record Lextons 2015 ..
Three years ago, Marissa Moore started a business that creates and delivers holiday and birthday gift baskets to students at the local university. Marissa sells the baskets for $27 each, and her variable costs are $17 per basket. She incurs $12,600 i..
Newscaster: We’re going to turn next night that controversial cruise ship lawsuit; the passenger hit in the head by a sliding glass door, winning $21 million for the pain and suffering that followed. Here is ABC’s Matt Gutman. If you favor a requirem..
For each of the situations above, prepare the journal entry that should be recorded as of December 31, 2014, or explain why an entry should not be recorded. Show supporting computations in good form.
In February, one of the processing departments at Manger Corporation had beginning work in process inventory of $25,000 and ending work in process inventory of $34,000. During the month, $290,000 of costs were added to production and the cost of unit..
Mark Company builds swimming pools. Mark budgets that they will build 14 pools during the month of April at a price of $20984 per pool. Actual pools built by Mark during April were 12 pools at a price of $21919 per pool. What is the Flexible Budget V..
During 2016, Ambiance Company reported net revenue of $4,088,000. The company reported net fixed assets of $640,000 on January 1, 2016 and net fixed assets of $820,000 on December 31, 2016. Calculate the fixed asset turnover ratio.
What is (a) the date of declaration, (b) the date of record, and (c) the date of payment? If Glenco Company were to prepare a balance sheet on January 30, 2007, how would it report the dividends (if at all)?
The condensed income statement for the year ended December
Birdle Company instituted a vacation and sick pay policy on 1-1-10. Thirty employees averaging $100 per day per employee were coveret under plan. The policy allows each employee 5 days of sick pay and 12 days of vacation per year. Prepare the 1/31/10..
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