Sunn Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During November, the company budgeted for 6,100 units, but its actual level of activity was 6,050 units. The company has provided the following data concerning the formulas to be used in its budgeting: Fixed Element per MonthVariable element per unitRevenue - $33.70 Direct labor$0 $5.90Direct materials 0 10.90Manufacturing overhead 48,400 1.20Selling and administrative expenses 24,800 0.50Total expenses$73,200 $18.50?The direct materials in the flexible budget for November would be closest to:
A. $66,490
B. $66,614
C. $65,945
D. $67,720
Answer: C
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Suppose you buy an inflation-indexed bond that will adjust with inflation and thus pay you $1,500 in real (inflation-adjusted) terms in one year. The nominal interest rate is 4 percent and the expected inflation rate is 2 percent. What is the present value of the bond? (Round off your answer to the nearest dollar and pick the answer closest to the one you calculate.)
A. $1,415 B. $1,442 C. $1,471 D. $1,530
For fatty acids to enter the citric acid cycle of aerobic respiration, the fatty acids must be
A. deaminated. B. converted to acetyl groups. C. converted into five-carbon sugars. D. combined with ATP. E. combined with glycerol.
Answer the following statements true (T) or false (F)
1. A company cannot report a gain or loss when buying or selling its own stock. 2. When a corporation issues no-par stock, it debits the asset received and credits the stock account. 3. Paid-in capital in excess of par is recorded when no-par stock is issued. 4 Accounting for stated value common stock is identical to accounting for par value stock. 5. A corporation issues 16,000 shares of its $3 stated value common shares. The issue price is $9 per share. The credit to the Common Stock account is $144,000.
What is a strength of local mass media as a recruiting source?
A. Useful in short-term shortages B. Good for semiskilled or skilled line employees C. Targets specific recruits D. Self-selected recruits E. The company can target their recruiting much better than using other methods