One of the employees of Davenport Corporation recently was i…

One of the employees of Davenport Corporation recently was involved in an accident with one of the corporation’s delivery vans. The corporation is either going to repair the damaged van or sell it as is and buy a comparable used van. Information related to this decision is provided below: Initial cost of the damaged van $30,000 Accumulated depreciation to date on van $18,000 Salvage value of van immediately before crash $9,000 Salvage value of van immediately after crash $1,000 Cost to repair damaged van $5,000 Cost of a comparable used van $10,000 Based on the information above, Davenport would be financially better off: 

All of Brayland Corporation’s sales are on account. Thirty-f…

All of Brayland Corporation’s sales are on account. Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale. The following are budgeted sales data for the company:   January February March April Total sales $50,000 $60,000 $40,000 $30,000 What is the amount of cash that should be collected in March?

Rylie Corporation applies manufacturing overhead to products…

Rylie Corporation applies manufacturing overhead to products on the basis of standard machine-hours. The company’s standard variable manufacturing overhead rate is $2.40 per machine-hour. The actual variable manufacturing overhead cost for the month was $5,240. The original budget for the month was based on 2,100 machine-hours. The company actually worked 2,270 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 2,280 machine-hours. What was the variable overhead efficiency variance for the month?

Jasmine Corporation is studying a project that would have a…

Jasmine Corporation is studying a project that would have a ten-year life and would require a $450,000 investment in equipment which has no salvage value. The project would provide net operating income each year as follows for the life of the project (Ignore income taxes.): Sales     $ 500,000 Less cash variable expenses       200,000 Contribution margin       300,000 Less fixed expenses:         Fixed cash expenses $ 150,000     Depreciation expenses   45,000   195,000 Net operating income     $ 105,000   The company’s required rate of return is 12%. The payback period for this project is closest to: