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During its first year of operations, The Catazaro Company paid $20,000 for direct material and $50,000 for production workers' wages. Lease payment and utilities on the production facility amounted to $12,000. General, selling and administrative expenses amounted to $6,000. The company made 20,000 units and sold 18,000 units for $6.50 each. What was the amount of the company's net income for the first year?
Evans made an installment sale on 2-1-2012 totaling $200,000. The merchandise cost $140,000. Ignore interest. Collections totaled $40,000 in 2012, $80,000 in 2013 and $30,000 in 2014. Using the cost recovery method, how much profit would be shown ..
Which of the following is a non-cash transaction that should be disclosed in a schedule accompanying the statement of cash flows?
Proceeds from expected equipment sales each year are expected to amount to $10000. Annual payments of $81171 on the loan also begin in 2010. The beginning cash balance in 2010 was $20000.
Prepare a sales budget in units and dollars for the first quarter of 2008 and prepare a schedule of expected cash collections from Customers for the first quarter of 2008
Motor has no market for the 20,000 motors if they are not transferred to Assembly. Variable selling and administrative costs are incurred on both internal and external sales.
An investor buys shares in a mutual fund for $20 per share. At the end of the year the fund distributes a dividend of $0.58, and after the distribution the net asset value of a share is $23.41. What would be the investor's percentage return on the..
Determine whether the shoe department should be closed - often purchased shoes and feel strongly about "one-stop shopping," clothing sales are expected to fall by 15% if the shoe department is closed.
Campus Package Delivery (CPD) provides delivery services in and around Paradise.
Prepare the journal entry to record use of direct material, prepare the journal entry to record direct labor
All sales are on credit. Recent experience shows that 40% of credit sales is collected in the month of the sale, 35% in the month after the sale, 23% in the second month after the sale, and 2% proves to be uncollectible.
What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as is as scrap and what is the relevant cost of the 880 liters of the raw material when deciding how much to bid on th..
What is the cost of the asset being depreciated? What amount, if any, was used in the depreciation calculations for the salvage value for this asset? Which method will produce the highest charge to income in Year 1?
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