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XYZ Inc. sells photoframes for $20 each. The fixed costs are $60,000, and variable costs are $7 per photoframe. What is the firm's gain or loss at sales of 6,000 photoframes? At 15,000 photoframes? How would the break-even point be affected if the selling price was raised to $25? How is this analysis significant? If the selling price was raised to $25 but variable costs rose to $13 a unit, what would happen to the break-even point?
Twin Towns,Inc., was authorized to issue 300,000 shares of common stock and oringinally issued 100,000 shares of $10 par value stock at $18 per share. Subsequently, 25,000 shares were repurchased at $20, of which 10,000 were subsequently resold at $2..
Journalize the entries to record the operations, identifying each entry by letter. For a compound transaction, if an amount box does not require an entry, leave it blank.
Georgia pays a $3,800 premium for high-deductible medical insurance for herself and her family. In addition, she contributes $3,400 to a Health Savings Account. Georgia is self-employed What amount qualifies as an expense deductible for AGI.
Prepare consolidation journal entry at the date of acquisition. Prepare consolidation worksheet. Prepare the consolidated statement of financial position as at 1 July 2011 (immediately after the acquisition).
Given that production was greater than planned, should Cyril expect that all actual costs will be greater than budgeted? Which costs would you expect to increase, and which costs would you expect to remain relatively constant?
The Morgan Corporation has two different bonds currently outstanding. Bond M has a face value of $30,000 and matures in 20 years. The bond makes no payments for the first six years, then pays $800 every six months over the subsequent eight years, and..
If you received $120.50 in interest payment, you may round this off and ener $120 on your tax return? The same filing requirements that apply to individuals determine if a final return must be filed for a person who dies during the year?
A cost that is common to more than one cost objective is a(n): a. indirect cost b. product cost c. direct cost d. period cost
Rossetter, Inc., has 10 employees. Jan and Fred are each paid a salary of $4,000 per month. Joe, Betty, Frankie, and Donita are paid $10 per hour. Abby, Norman, Bill, and Erika are paid on a commission basis at a rate of 2 percent of their indi..
Grand Devices Corporation assembles handheld computers that have scaled-down capabilities of laptop computers. Each handheld computer takes 6 hours to assemble. Post the entries in requirement 1 to T-accounts for applicable Materials and In- Process ..
The 2014 balance sheet of Sugarpova's Tennis Shop, Inc., showed long-term debt of $3.3 million, and the 2015 balance sheet showed long-term debt of $3.4 million. The 2015 income statement showed an interest expense of $155,000. What was the firm’s 20..
Widmer Watercraft’s predetermined overhead rate for year 2015 is 200% of direct labor. Information on the company’s production activities during May 2015 follows. Prepare a job cost sheet for each job worked on during the month. Prepare a report sho..
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