Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the first year of operations, Jackson produced 4,100 tons of plastic and sold 3,280 tons. In 2017, the production and sales results were exactly reversed. In each year, the selling price per ton was $2,400, variable manufacturing costs were 17% of the sales price of units produced, variable selling expenses were 11% of the selling price of units sold, fixed manufacturing costs were $3,075,000, and fixed administrative expenses were $500,000. a. Prepare income statements for each year using variable costing. b. Prepare income statements for each year using absorption costing. c. Reconcile the differences each year in net income under the two costing approaches.
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Dominic is the founder of an innovative "impromptu catering" business that provides elegant, healthy party food and decorations on less than 24 hours' notice. the company has grown by over 150 percent in the past year. dominic credits some of the company's success to studying the strategies of prominent social entrepreneurs, such as wikipedia's jimmy wales. what can dominic do to exemplify the social entrepreneurship model?
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Warren company plans to depreciate a new building using the double declining-balance depreciation method. the building cost $870,000. the estimated residual value of the building is $57,000 and it has an expected useful life of 20 years. assuming the first year's depreciation expense was recorded properly, what would be the amount of depreciation expense for the second year?
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Max maxwell's property is assessed at $412,500. he pays $5775.00 in property taxes, what is the property tax rate in his city?
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Jackson Company produces plastic that is used for injection-molding applications such as gears for s...
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