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If a firm in a purely competitive industry is confronted with anequilibrium price of $5, its marginal revenue:; ACC 561Final Exam.; ACC 561Final Exam.; ACC 561Final Exam.; A+ ANSWERS; 1) According to the Financial Executives Institute, one functionof the treasurer is _____.Â; 1) Department performance reports can be used to help departmentheads determine _____.Â; A+ ANSWERS; 1) Department performance reports can be used to help departmentheads determine _____.Â; 1) According to the Financial Executives Institute, one functionof the treasurer is _____.Â; Visit the website of your favorite U.S. Company. Find thecompany’s financial statements in the section of the website forinvestors. Post a link to the statements. What did you findinteresting about each of the four financial statements, whichinclude balance sheets, income statements, statements of cashflows, and statements of owners’ equity? How could the informationin those statements be useful to an investor and to a manager? Which one of the four financial statements is your favorite andwhy?; Question 2; For Turgo Company, variable costs are 63% of sales, and fixed costs are $180,300. Management’s net income goal is $60,903.; Compute the required sales in dollars needed to achieve management’s target net income of $60,903.; A. Required sales: $; ; Question 5; **Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs.; **Polk Company sells the fishing lures for $27.00. During 2012, the company sold 80,900 lures and produced 95,200 lures.; Variable Cost per Unit; Direct materials $8.10; Direct labor $2.65; Variable manufacturing overhead $6.21; Variable selling and administrative expenses $4.21; Fixed Costs per Year; Fixed manufacturing overhead $254,184; Fixed selling and administrative expenses $259,308; Assuming the company uses variable costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.); A:; Assuming the company uses absorption costing, calculate Polk’s manufacturing cost per unit for 2012. (Round answer to 2 decimal places, e.g.10.50.); A:; POLK COMPANY; Income Statement; For the Year Ended December 31, 2012; Absorption Costing; ; Question 7; Gundy Company expects to produce 1,318,080 units of Product XX in 2012. Monthly production is expected to range from 78,450 to 124,470 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $8, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $2.; Prepare a flexible manufacturing budget for the relevant range value using 23,010 unit increments. (List variable costs before fixed costs.); GUNDY COMPANY; Monthly Flexible Manufacturing Budget; For the Year 2012;

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