Felix, Inc., which has excess capacity, received a special order for 5,000 units at a price of $15 per unit. Currently, production and sales are anticipated to be 10,000 units without considering the special order. Budget information for the current year follows. Sales $210,000 - Cost of goods sold 155,000 Gross margin 55,000 Cost of goods sold includes $30,000 of fixed manufacturing cost. If the special order is accepted, will the company's income be increased or decreased
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The retained earnings account has a credit balance of $24,650 before closing entries are made. if total revenues for the period are $77,700, total expenses are $56,900, and dividends are $13,050, what is the ending balance in the retained earnings account after all closing entries are made?
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On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?
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Felix, Inc., which has excess capacity, received a special order for 5,000 units at a price of $15 p...
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