Houseal Corporation has provided the following data from its activity-based costing system:Activity Cost PoolTotal CostTotal ActivityAssembly$613,25055,000machine-hoursProcessing orders$46,1701,500ordersInspection$146,1101,900inspection-hoursData concerning one of the company's products, Product W58B, appear below:? Selling price per unit$113.70Direct materials cost per unit$48.14Direct labor cost per unit$11.62Annual unit production and sales 360Annual machine-hours 1,040Annual orders 60Annual inspection-hours 30According to the activity-based costing system, the product margin for product W58B is:
A. $3,668.60
B. $19,418.40
C. $5,975.60
D. $5,515.40
Answer: A
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A contract that promises to pay a given amount of money to the owner of a security at specific dates in the future is known as
A. a debt security. B. an equity security. C. stock. D. an option.
The Lawrence Company records its trade accounts payable net of any cash discounts. At the end of 2016, Lawrence had a balance of $300,000 in its trade accounts payable account before any adjustments related to the following items: 1. Goods shipped to Lawrence FOB shipping point were in transit on December 31. The invoice price of the goods was $50,000, with a 2% discount allowed for prompt
payment. 2. Goods shipped to Lawrence FOB destination on December 29 arrived on January 2, 2017. The invoice price of the goods was $9,000, with a 4% discount allowed for payment within 20 days. 3. On December 10, Lawrence had recorded a shipment received. The recorded invoice price was $24,750, net, with a 1% discount allowed for payment within 14 days. At the end of the year, payment had not been made. At what amount should Lawrence report trade accounts payable on its December 31, 2016 balance sheet? A) $349,000 B) $349,250 C) $357,680 D) $357,930
An internal issue to be considered when setting a price is
a. whether there is a sole source or heavy competition. b. total demand for the product or service. c. the quality of material and labor. d. the number of competing products or services.
Discuss the consequences of the Michigan State Supreme Court case of Poletown Neighborhood Council v. City of Detroit and the Detroit Economic Development Corporation
What will be an ideal response?