Remo Company and Angelo Inc. are separate companies that operate in the same industry. Following are variable costing income statements for the two companies showing their different cost structures: Remo Co. Angelo Inc. Sales revenue $ 275,000 $ 275,000 Less: Variable cost 200,000 125,000 Contribution margin $ 75,000 $ 150,000 Less: Fixed cost 35,000 110,000 Net operating income $ 40,000 $ 40,000 Required: Calculate the break-even sales revenue for each company. (Round your "Contribution Margin Ratio" percentage to 2 decimal places (i.e. .1524 = 15.24%) and final answers to 2 decimal places.)

The price of crude oil during the period 2000-2010 can be approximated by P(t) = 6t + 18 dollars per barrel (0 <= t <= 10) in year t, where t = 0 represents 2000. Russia's crude oil production over the same period can be approximated by Q(t) = ?0.08t2 + 1.2t + 5.5 million barrels per day (0 <= t <= 10). † Use these models to estimate Russia's daily oil revenue and also its rate of change in 2008. (Round your answers to the nearest $1 million.) daily oil revenue _________million rate of change in 2008 _______million per year

Presented below is information related to Armaco Company. Retained earnings, December 31, 2017 $ 650,000 Sales revenue 1,600,000 Selling and administrative expenses 290,000 Discontinued operations loss (pre-tax) 290,000 Cash dividends declared on common stock 33,600 Cost of goods sold 880,000 Gain resulting from computation error on depreciation charge in 2016 (pre-tax) 520,000 Other revenue 120,000 Other expenses 100,000 Instructions Prepare in good form a multiple-step income statement for the year 2018. Assume a 30% tax rate and that 80,000 shares of common stock were outstanding during the year.

The following trial balance was taken from the books of Fisk Corporation on December 31, 2014.

            Account                                                                                         Debit                 Credit     

Cash                                                                                                        $ 9,000

Accounts Receivable                                                                                 40,000

Notes Receivable                                                                                      10,000

Interest Revenue                                                                                                                       500

Allowance for Doubtful Accounts                                                                                      $   1,800

Inventory                                                                                                    44,000

Insurance expense                                                                                      2,000

Prepaid Insurance                                                                                       4,800

Equipment                                                                                               110,000

Accumulated Depreciation--Equip.                                                                                      17,000

Accounts Payable                                                                                                                 10,800

Common Stock                                                                                                                     44,000

Retained Earnings                                                                                                                55,000

Sales Revenue                                                                                                                   280,000

Cost of Goods Sold                                                                                 126,000

Salaries and Wages Expense                                                                   50,500

Rent Expense                                                                                            12,800                             

                                                                                                Totals    $409,100             $409,100

Prepare Closing Entries:

Suppose that the demand for cigarettes in a hypothetical country is given by Q^D= 2,000 – 200*P, where P is the price per pack of cigarettes and Q^D is the number of packs demanded. The supply is given as Q^S=P*200.

1. Find the equilibrium price and quantity of cigarettes assuming that the market is competitive
2. In an effort to reduce smoking, the government levies a tax of $2 per pack. Compute the quantity of cigarettes (packs) bought after the tax, the price paid by consumers, and the price received by producers. How much revenue does the tax raise for the government? How much of this revenue comes from consumers? How much from producers?

At the beginning of 2017, the Mini Construction Company received a contract to build an office building for $1.2 million. Mini will construct the building according to specifications provided by the buyer, and the project is estimated to take four years to complete. The cost breakdown is as follows. Determine the amount of revenue and gross profit to be recognized each year. (do not include $ in your answer, round to 4 decimal places).