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slega [8]
3 years ago
7

Ricardo Company has predicted the following costs for this year for 50,000 units: Manufacturing Selling and Administrative Varia

ble $200,000 $ 25,000 Fixed 300,000 75,000 Total $500,000 $100,000 What is the manufacturing cost markup needed to obtain a target profit of $100,000
Business
1 answer:
Annette [7]3 years ago
6 0

Answer:

See below

Explanation:

Computation of manufacturing cost markup needed to obtain a target profit of $100,000

= ($300,000 + $75,000 + $100,000) / $200,000

= 4.75%

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Carow Corporation purchased on January 1, 2020, as a held-to-maturity investment, $60,000 of the 8%, 5-year bonds of Harrison, I
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Answer:

Entries are given below

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Requirement A.

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Entry                                                DEBIT   CREDIT

Held-to-maturity securities            $65,118

cash                                                                $65,118

Requirement B.

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cash (60,000 x 8% x 6/12)             $2,400  

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