Here are simplified financial statements of Phone Corporation from a recent year: INCOME STATEMENT
(Figures in millions of dollars)
Net sales 12,900
Cost of goods sold 3,910
Other expenses 4,132
Depreciation 2,428
Earnings before interest and taxes (EBIT) 2,430
Interest expense 670
Income before tax 1,760
Taxes (at 35%) 616
Net income 1,144
Dividends 846

BALANCE SHEET
(Figures in millions of dollars)
End of Year Start of Year
Assets
Cash and marketable securities 86 155
Receivables 2,232 2,430
Inventories 172 223
Other current assets 852 917
Total current assets 3,342 3,725
Net property, plant, and equipment 19,943 19,885
Other long-term assets 4,186 3,740
Total assets 27,471 27,350
Liabilities and shareholders' equity
Payables 2,534 3,010
Short-term debt 1,404 1,558
Other current liabilities 796 772
Total current liabilities 4,734 5,340
Long-term debt and leases 7,765 7,370
Other long-term liabilities 6,148 6,119
Shareholders' equity 8,824 8,521
Total liabilities and shareholders' equity 27,471 27,350
Phone Corp.'s cost of capital was 8.0%.
What was Phone Corp.'s economic value added? (Enter your answer in millions rounded to 2 decimal places.)

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.

Manipulation manufacturing's (amm) standards anticipate that there will be 5 pounds of raw material used for every unit of finished goods produced. amm began the month of maymay with 8,000 pounds of raw material, purchased 25,500 pounds for $ 15,300 and ended the month with 7,400 pounds on hand. the company produced 4,9004,900 units of finished goods. the company estimates standard costs at $ 1.10 per pound. the materials price and efficiency variances for the month of maymay were:

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.