On june 1, 2017, micro corp. received an order for parts from a mexican customer at a price of 1,000,000 mexican pesos with a delivery date of july 31, 2017. on june 1, when the u. s. dollar–mexican peso spot rate is $0.115, micro corp. entered into a two-month forward contract to sell 1,000,000 pesos at a forward rate of $0.12 per peso. micro designates the forward contract as a fair value hedge of the firm commitment to receive pesos, and the fair value of the firm commitment is measured by referring to changes in the peso forward rate. micro delivers the parts and receives payment on july 31, 2017, when the peso spot rate is $0.118. on june 30, 2017, the mexican peso spot rate is $0.123, and the forward contract has a fair value of $2,400. problem 9-19 (lo 9-8) what is the net impact on micro's net income for the quarter ended september 30, 2017, as a result of this forward contract hedge of a firm commitment?

What is the difference between secure bonds and naked bonds?

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.

Kimberly has been jonah in preparing his personal income tax forms for a couple of years. jonah's boss recommended kimberly because she had done a good job setting up the company's new accounting system. jonah is very satisfied with kimberly's work and feels that the fees she charges are quite reasonable. kimberly would be classified as a(n) (a) independent auditor (b) private accountant (c) public accountant (d) accounting broker