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Sam Company has just received a special, one-time order for 1,000 units. Producing the order will have no effect on the production and sales of other units. The buyer's name will be stamped on each unit, at a cost of $2,000. Normal cost data, excluding stamping, follows:
Direct materials $10 per unit
Direct labor 16 per unit
Variable overhead 4 per unit
Allocated fixed overhead 12 per unit
Allocated fixed selling expense 8 per unit
What selling price per unit will this company require to earn $3,000 on the order?
Briefly describe when the petty cash fund should be replenished. Because there is cash on hand, is there a need to replenish the fund at year end on December 31? Explain.
nbspyear ending december 2012year ending december 2011year ending december 2010revenues400003500033000operating
Venz Company's net income for 20x1 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issued during 20x0, each exercisable for one share at $6. None has been exercised, and 10,000 shares of common were outstanding ..
Identify and briefly explain both a theory of corporate governance that supports a formal regulatory approach and a theory that supports a voluntary, self -regulation approach.
What property interest did Dollars & Sense register under the Torrens system and how did it acquire that interest?
Arnold Corp has a selling price of $20, variable costs of $15 per unit, and fixed costs of $25,000. If Arnold sells 12,000 units, the contribution margin ratio will equal:
From the foregoing information, indicate in what section of the income statement or retained earnings statement these items should be classified. Provide a brief rationale for your position.
Determine the adjusted ending balance in the Estimated Liability for Warranties account. Example: You invest $1,000 for 3 years earning 9% simple interest. How much will you have at the end of three years?
The Abbott Corporation sells merchandise on the installment basis, and the uncertainties of cash collection make the use of the installment sales method of accounting acceptable. The following data relate to two years of operations.
Prepare a schedule indicating cash collections from sales for May, June, and July.
Cost incurred: $280,000, Billings: $400,000, Collections: $350,000. Calculate the amount of gross profit Muscle Construction should recognize in 2006, using the percentage-of-completion method.
Oxford Corporation began operations in 2012 and reported pretax financial income of $220,800 for the year. Oxford's tax depreciation exceeded its book depreciation by $36,800. Oxford's tax rate for 2012 and years thereafter is 30%.
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