In 2015, Fargo Corporation began construction work under a three-year contract. The contract price is $4,800,000. Fargo uses the percentage-of-completion method for financial accounting purposes. The income to be recognized each year is based on the proportion of costs incurred to total estimated costs for completing the contract. The financial statement presentations relating to this contract at December 31, 2015, follow:
Balance Sheet
Accounts receivable—construction contract billings: $200,000
Construction in progress: $600,000
Less contract billings: 480,000
Costs and recognized profit in excess of billings: 120,000

Income Statement
Income (before tax) on the contract recognized in 2015 $120,000
~How much cash was collected in 2015 on this contract?
a. $200,000
b. $280,000
c. $40,000
d. $480,000

Fanning company is considering the addition of a new product to its cosmetics line. the company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. relevant information and budgeted annual income statements for each of the products follow. skin cream bath oil color gel budgeted sales in units (a) 110,000 190,000 70,000 expected sales price (b) $8 $4 $11 variable costs per unit (c) $2 $2 $7 income statements sales revenue (a × b) $880,000 $760,000 $770,000 variable costs (a × c) (220,000) (380,000) (490,000) contribution margin 660,000 380,000 280,000 fixed costs (432,000) (240,000) (76,000) net income $228,000 $140,000 $204,000 required: (a) determine the margin of safety as a percentage for each product. (b) prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. (c) for each product, determine the percentage change in net income that results from the 20 percent increase in sales. (d) assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? (e) assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line?

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine

Will give brainliest and 100 to best and correct project: benefit analysis study: small business expansion you are the owner of a small business that offers advertising services for your local homebuilding professionals. originally you were the only employee, working at your desktop at home. now your business is growing and you need to add more workers. the first assessment of your current situation: one worker, one desktop computer, one modem, one printer/scanner, one phone line (dsl). you also created a draft situation of what technology you will need if you add two more workers (three workers including yourself): three computers, one router, one printer/scanner, one phone line (wireless). do a one-page benefit analysis study that: compares the cost of adding two desktops vs. one or two laptops compares the cost of replacing the modem with a router/modem. compares the cost of building a wan vs. a lan or a vpn summarizes the total cost of maintaining your home office as the only computing space for your three-worker company. compare this cost with the option of building a network that includes your home office and two satellite locations. here are some questions you may want to consider: do i need a firewall to protect my company's data? are my two new workers' job responsibilities primarily mobile? are they going to be doing enough work in the field to justify owning laptops? what software needs to be installed in their computers for network connections (desktop vs. laptop)?! i will give 100 points and ! !