On November 15, 2013, a U.S. company takes delivery of merchandise costing C$1,000,000 from a Canadian supplier and records an account payable. On the same date, the company enters a forward contract locking in the U.S. dollar purchase price of C$1,000,000, for delivery on April 15, 2014. The forward contract is closed and payment is made to the supplier on April 15, 2014. The company’s accounting year ends on December 31. Assuming the company still holds the merchandise at December 31, 2013, at what amount is the merchandise reported? a. $895,000 b. $905,000 c. $950,000 d. $965,000
On November 15 2013 a U S company takes delivery of
Using budget data, how many Apple iPhone 4’s would have to have been completed for Danshui Plant No. 2 to break even? 2. Using budget data, what was the total expected cost per unit if all manufacturing and shipping overhead (both variable and fixed) were allocated to...