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Innova Company produces golf discs which it normally sells to retailers for $7each. The cost of manufacturing 20,000 golf discs is:
Materials $ 10,000Labor 30,000Variable overhead 20,000Fixed overhead 40,000Total $100,000
Innova also incurs 5% sales commission ($0.35) on each disc sold. Mudd Corporation offers Innova $4.75 per disc for 5,000 discs. Mudd would sell the discs under its own brand name in foreign markets not yet served by Innova. If Innova accepts the offer, its fixed overhead will increase from $50,000 to $55,000 due to the purchase of a new imprinting machine. No sales commission will result from the special order.
Instructions(a) Prepare an incremental analysis for the special order.(b) Should Innova accept the special order? Why or why not?(c) What assumptions underlie the decision made in part (b)?
Explain generally accepted accounting principles applied to the health care industry and how they are applied to your Operating Budget Projection.
The ledger of Salizar Company at the end of the current year shows Accounts Receivable $110,000, Sales $840,000, and Sales Returns and Allowances $40,000.
Journalize the following selected transactions completed during the current fiscal year:
In the current year, David and Debbie Wayland, both successful physicians, made cash investment for a limited partnership interest in a California berry farm. In addition to the cash obtained from the investors-Identify the tax issues facing the W..
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Seton Company manufactures a single product that sells for $360 per unit and whose total variable cost are $270 per unit. The company's annual fixed costs are $1,125,000. (1) Use this info to compute the company's (a) contribution margin, (b)contribu..
The use of accounting databases enables researchers to obtain data to help answer their questions more efficiently. Using the FASB Codification database and other sources such as the SEC Web site as guides, answer the following questions:
Make journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases
What makes a CPA license valuable? a. Time, effort and education it takes to get the license. b. Continuing education after receiving the license. c. Monopoly on public accounting services.
Which of the following expenses related related to effecting the business combination should enter into the determination of net income of the combined corpation for the period in which the expense are incurred?
Bent Co. reports a $20,000 increase in inventory and a $5,000 decrease in accounts payable during the year. Cost of Goods Sold for the year was $170,000. Using the direct method of reporting cash flows from operating activities, cash payments made..
How should you account for the difference between the carrying value and the purchase price in the consolidated financial statements for 2011?
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