CONNECT ONLINE ACCESS FOR INTERMEDIATE
10th Edition
ISBN: 9781264798834
Author: SPICELAND
Publisher: MCG
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Braylon Manufacturing has beginning work in process inventory of $125,000 and total manufacturing costs of $740,000. If the cost of goods manufactured is $710,000, what is the cost of the ending work in process inventory?
Taxpayer has a warehouse where she acquired equipment for $24,000. Over time, depreciation of $15,000 was claimed. In the current year, taxpayer sells the asset for $28,000. What is the amount and nature of the gain/loss from the sale? A. $15,000 of ordinary income, $4,000 long term capital gain B. $19,000 longterm capital gain C. $4,000 of long-term capital gain, 12,000 of ordinary income D. $19,000 ordinary income
Estefan, Inc. produces a product that has a variable cost of $8.00 per unit. The company's fixed costs are $75,000. The product is sold for $12.50 per unit and the company desires to earn a target profit of $45,000. What is the amount of sales that will be necessary to earn the desired profit?
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