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1. How are the operating and cash cycles of the firm different? Why are they important? Can you provide some examples of transactions that affect the cash account? 2. What strategies can a firm use to optimize its cash cycle? How does the credit policy affect cash management? Other than discounts, how do you believe […]
During 2015, Wendy Company applied overhead using a job-order costing system at a rate of $16 per direct labor hour. Estimated direct labor hours for the year were 110,000, and estimated overhead for the year was $1,760,000. Actual direct labor hours for 2015 were 140,000, and actual overhead was $2,120,000. What is the amount of […]
Simpson Company produces and sells a single product whose selling price is $90.00 per unit and whose variable expense is $40.50 per unit. The company’s fixed expense is $1,138,500 per month. (a) What is the CM ratio (express your answer as a percentage to two decimal places)? (b) How many units must be sold to […]
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