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The Butterfly Corporation had the following information that pertained to its March budget:• Budgeted sales are $200,000 for February.• Collections of sales are 50% in the month of sale and 50% the next month.• Cost of goods sold averages 70% of sales.• Merchandise purchases total $150,000 in February.• Marketing costs are $3000 each month.• Administrative costs are $15,000 each month.What is the amount budgeted for nonmanufacturing costs in February?What is the budgeted net income for February?
Celia and Amos, who are married filing jointly, have one dependent and do not itemized deductions. They have taxable income of $82,000 and tax preferences of $53,000 in 2010. What is their AMT base for 2010?
The material price variance was 1370 favorable and find the standard price per kilogram for raw material?
Having a problem with an accounting question: J.P. Max is a department store carrying a large and varied stock of merchandise. Management is considering leasing part of its floor space for $72 per square foot per year to an outside jewelry company..
At December 31, 2008, the trial balance of Worcester Company contained the following amounts before adjustment. Based on the information given, which method of accounting for bad debts is Worcester Company using-the direct write-off method or the a..
What amount of the bond issue proceeds should Evan record as an increase in equity?
Variable costs as a percentage of sales for Leamon Inc. are 66%, current sales are $612,750. and fixed costs are $189,751. How much will operating income change if sales increase by $49,790?
Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31.
On May 10, 2007, Wiley, Inc remitted $91,450 to the state tax division for April 2007 sales. Calculate the amount of Wiley's April 2007 sales subject to sales tax, and, record the journal entry that would be made when the tax is paid:
Milton Company provides this information for the month of November, 2007: sales on credit $150,000; cash sales $50,000; sales discount $2,000; and sales returns and allowances $8,000. Prepare the sales revenues section of the income statement base..
Determine the direct labor rate and time variance for the (1) Cutting Department and (2) Sewing Department.
Harris moves and Hoyt refunds $1,050 of the deposit and keeps the remainder to cover $750 which is spent for repairs to the office space and one week of unpaid rent that amounts to $600. How would this information be reflected on Hoyt's tax ret..
Janie graduates from high school in 2012 and enrolls in college in the fall. her parents pay $4,000 for her tutiion and fees and assuming janie's parents have agi of 170,000, what is the american opportunity credit they can claim for janie?
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