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What makes a contribution income statement unique? Discuss how a contribution income statement could be used to improve planning in a company.
Zigs Industries had the following operating results for 2011: sales = $27,960; cost of goods sold = $19,360; depreciation expense = $4,940; interest expense = $2,190; dividends paid = $1,050.
Ramsey Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 60,000 subscriptions in January at $10 each. What entry is made in January to record the sale of the subscriptions?
The human resources department costs are allocated using the direct method and based on the number of employees, and the total amount of costs for the department is $187,000.
The Alperti Company manufactures surgical gowns for hospitals. Their controller, Ethell Hieken is preparing the variance analysis report for October. Standard Costs are as follows: What is the material price variance?
Is there a difference in approach to valuation by US GAAP and IFRS? Discuss and note two or three specific differences. In addition, briefly:
If Charming Confections Company charges each division 12% for capital employed, compute residual income for the Peanut and Plain divisions. Compute the ROI for each division.
Management at Breaker Corp. Expects an accounts receivable collecion pattern of 80 percent in the month of sale. 15 percent in the month after sale, and 5 percent in the second month after sale. All sales are on credit and Brker Corp.
Explain the accounting alternatives that Bonanza Trading Stamps, Inc. should consider for the recognition of its revenues and related expenses.
How much should Mr. Graff pay for a gold mine expected to yield an annual return of $20,000 and to have a life expectancy of 20 years, if he wants to have a 15% annual return on his investment and he can set up a sinking fund that earns 10% a year..
Pace Corporation had a taxable income of $300,000 in 2010. They had a taxable income of $1,200,000 in 2011. What is their federal income tax liability for the company for each year?
What are retained earnings? What items increase the balance in retained earnings? What items decrease the balance in retained earnings?
What was the total amount of manufacturing costs assigned to the 5,000 units in the ending work in process?
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