(Points : 5) sales under $1,000,000 no accountants on staff insignificant receivables and payables all sales and purchases on account 5. (TCO D) Two companies report the same cost of goods available for sale, but each employs a different inventory costing method. If the price of goods has increased during the period, then the company using _____. (Points : 5) LIFO will have the highest ending inventory FIFO will have the highest cost of goods sold FIFO will have the highest ending inventory LIFO will have the lowest cost of goods sold 6. (TCOs A, E) Equipment with a cost of $192,000 has an estimated salvage value of $18,000 and an estimated life of 4 years or 12,000 hours.
Margin of Safety (DOLLARS) Budgeted – break even = 100,000-62500= 37500 (Percentage) 37.500/100.000= 37.5% (Units) 37500/250= 150 3.Compute the company’s margin of safety in units assuming the proposal is accepted. Margin of Safety (Dollars) 137500-58929= 78571 (Units) 78571/275= 286 4. Compute the increase or decrease in profit assuming the proposal is accepted, show the contribution Income Statement for current and proposed. Present Proposed Sales 100,000 137500 Variable expense 64000 80000 CM 36000 57500 Fixed cost 22500 244750 Net income 13500 32750 difference: 19250 4a. What is the operating leverage for the current and proposed?
• Competitors like Marvel are wooing customers with low cost per click-through • Condition-specific websites like cholesterol.com has a better chance of converting a visitor to a customer. • Setting a price competitive to Marvel’s would drop MedNet’s revenue by 80% • Since advertisements are the only source of revenue, MedNet’s has to rethink their revenue generation strategy to sustain their business. • It is considered as a product problem because they may have to change the value proposition Note that technology is fragmenting the market and disrupting the business model What are the decision options? • Charging for the content, treating site visitors as patients. • Extend coverage of alternative health information • Develop and manage corporate websites What does he/she need to know to make a decision?
Answer a. employee actions; customers and creditors b. employee actions; customers, vendors, and regulators c. management actions; all corporate constituents d. employee actions; all corporate constituents On its 2010 balance sheet, Barngrover Books showed $510 million of retained earnings, and exactly that same amount was shown the following year. Assuming that no earnings restatements were issued, which of the following statements is CORRECT? Answer a. If the company lost money in 2010, they must have paid dividends. b.
Law and Analysis The taxpayer relief act of 1997 exempted from taxation the profits on the sale of a personal residence of up to $500,000 for married couples filing jointly and $250,000 for singles. This exemption applies to residences the taxpayer(s) lived in for at least two years over the last five. Taxpayers can only claim the exemption once every two years Under § 1.121-1 Exclusion of gain from sale of principle residence of the Internal Revenue Code, the sale of the home of Mr. Junkiewicz and his wife in 2013 is not a taxable transaction as
The completed production journal entry is as follows: Finished goods inventory 15,761,800 Work in process inventory 15,761,800 There is no work in process at year end so it must be transferred to finsihed goods inventory by adding the beginning balance of work in process inventory of $156,000 to additions to the work in process inventory of $15,605,000. 5.There was a total of $5,655,000 of overhead applied . $4,350,000 x 130% Actual overhead wa $5,554,000 which resulted in overapplied overhead of $101,000 Indirect materials 65,000 Indirect labor 2,860,000 Factory depreciation 1,740,000 Factory
Wk 3 Learning Team Consider the use of performance incentives and merit pay to recognize and engage employees. At Landslide Limousine you pride your company on extraordinary customer service to your clients and a leader in taking care of your employee’s by providing the best performance incentives and merit pay to recognize and engage employees. In Indeed salaries, the salary for Limo drivers in Austin TX ranges between $19,000 and $23,000 (Indeed, 2013). We recommend a performance incentives and merit pay on top of hourly base pay and gratuity. We recommend performance incentives that you could use to not only engage your employees, but also keep your insurance premiums low are semi and annual bonuses.
BUS 245-03 Assignment 1 Fall 2013 Finance/Business in the news Elizabeth Johnson Bailout of the Auto Industry-Toyota There have been so many incidents of large corporations needing bailouts within the auto industry and Toyota is just one of the many that have needed government assistance because of financial troubles. Some people may wonder if it was or is ethically right to do something like this because of all the controversy behind it like the CEO's and the higher ups misusing the money the government gave them to bailout and help their companies. The government can not predict that so in their own way it is justified to keep the economy up and running. With the economic troubles in the US still at a high, the auto industry has taken
While theft and low income consumers bring the possibility of providing only moderate revenue gains, if not a loss, operating in impoverished areas can also be a source of growing potential for the business. Many companies advertise philanthropic missions, such as donating to charities every year or helping to provide for the families of their employees. While these are messages that consumers hear, a more powerful message can be the one that the consumers themselves see. Rather than closing down those stores, Company Q should focus on the reasons for the high crime, and offer ways to reduce that crime rate. Offering work programs that help prepare young people for management or skilled positions is a good way to take crime off of the streets while showing to the community that the business cares about the welfare of the population.
In Path to Prosperity, Paul Ryan offers an 80% cut in discretionary spending - the largestgutting of governmental public services in our lifetime - and FEMA finds itself stuck on the chopping block. Although exact numbers aren't given to how much disaster funds would be cut, it's safe to say that calling 211 might be the only option left in a nation starved for cash flow. This was the point made by Senate Majority Leader Harry Reid yesterday when he chastised Mitt and Paul for even thinking that they could show sympathy for the hurricane victims. A bit harsh? Yes.