6. maria’s food service provides meals that nonprofit organizations distribute to handicapped and elderly people

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6. maria’s food service provides meals that nonprofit organizations distribute to handicapped and

elderly people. Here is her forecasted income statement for April, when she expects to produce and sell 3,000 meals:

Sales revenue $18,000 $6.00 per unit

Costs of meals produced $13,500 4.50 per unit

Gross profit $4500$1.50 per unit

Administrative costs $ 2,100 0.07

Operating profit $2,400 $0.80

Fixed costs included in this income statement are 4,500 for meal production and $600 for administrative costs. Maria has received a special request from an organization sponsoring a picnic to raise funds for the Special Olympics. This organization is willing to pay $3.50 per meal for 300 meals on April 10. Maria has sufficient idle capacity to fill this special order. These meals will incur all of the variable costs of meals produced, but variable administrative costs and total fixed costs will not be affected.

a.What impact would accepting this special order have on operating profit?

b.Should Maria accept the order?

 
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why is it important from an accounting perspective to classify a lease into operating or capital lease?

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why is it important from an accounting perspective to classify a lease into operating or capital lease? What is

the criteria to classify the lease into operating and capital lease ?  Do you think the lessee tends to prefer an operating lease or a capital lease? Why?

 
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What are the fraud risk factors in a high turn over rate of high level audit personnel

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What are the fraud risk factors in a high turn over rate of high level audit personnel

 
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Misty Company reported the following before-tax items during the current year: Sales – $600Operating expenses – $250Restructuring charges – $20Extraordinary loss – $50Misty’s effective tax rate is 40%, and there were 1,000 shares of common stock outstanding.

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Please see the file. I have an hour to complete this.

Thanks!

1. Misty Company reported the following before-tax items during the current year: Sales – $600Operating expenses – $250Restructuring charges – $20Extraordinary loss – $50Misty’s effective tax rate is 40%, and there were 1,000 shares of common stock outstanding. What would be Misty’s net income for the current year? 2.  Listed below are account balances (in millions of dollars) taken from the records of Symphony Stores. All of these are permanent accounts, except the last two that have yet to be closed. The installment receivables are current. Symphony uses a perpetual inventory system.    Debit CreditAccounts receivable-trade680  Building and equipment920  Cash-checking34  Installment receivables50  Interest receivable30  Inventory16  Land150  Note receivable (long-term)450  Petty cash funds5  
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