Chapter 6, Problem 7C

A new production equipment with a purchase price of $125,000, freight costs of $12,500, setup costs of $8,500, and testing fees of $4,000, would have a cost basis of what?

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If 2019 is the base year, what is the percentage increase in the cost of goods sold from 2019 to 2022?

Vampire Co. reports total sales of $610,000. Variable costs are 58% of sales, and fixed costs are $135,000. What is the contribution margin ratio?(a) 42% (b) 46% (c) 40% (d) 44% (e) 48%

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At the beginning of the year, Evergreen Corporation has assets of $250,000 and equity of $180,000. During the year, assets increase by $90,000, and liabilities increase by $40,000. What is the equity at the end of the year?