As a team leader, you should define what success means for you and your group. _________________________
Answer the following statement true (T) or false (F)
True
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Klothing Company, a U.S. clothing designer, manufacturer, and retailer, reported a balance in prepaid insurance of $90.7 million, based on its financial reports dated March 31, 2013, the end of its fiscal year. Assume that of this balance, $24 million relates to an insurance policy with two remaining months of coverage. Select the correct journal entries that Klothing would make on April 30, 2013
(Assume that the firm closes its books monthly. Klothing applies U.S. GAAP, and reports its results in millions of U.S. dollars.) a. Insurance Expense $ 24 million Prepaid Insurance $24 million b. Prepaid Insurance $24 million Insurance Expense $24 million c. Insurance Expense $12 million Prepaid Insurance $12 million d. Prepaid Insurance $12 million Insurance Expense $12 million e. none of the above
A retail strategy must anticipate and adapt to the changing business
Indicate whether the statement is true or false
Dynamo Engines Inc., has an ROA of 10%, a profit margin of 6%, an assets to equity ratio of 1.30 and a retention ratio of 0.70. What is the firm's sustainable growth rate?
What will be an ideal response?
Grubber Candy Corporation has developed cost standards for the production of its new chocolate, ChocO. The variable cost standards below relate to each 10 gallon batch of ChocO: Standard Cost Per BatchMilk chocolate (2 pounds × $0.85 per pound)$1.70 Direct labor (1.25 hours × $12.00 per hour)$15.00 Variable overhead (1.25 hours × $44.00 per hour)$55.00 Variable manufacturing overhead at Grubber is applied based on direct labor-hours. The actual results for last month were as follows: Number of batches produced 3,800Direct labor-hours incurred 4,510Pounds of chocolate purchased 9,000Pounds of chocolate used in production 7,880Cost of chocolate purchased$7,200Direct labor cost$53,218Variable manufacturing overhead cost$205,700What is ChocO's variable overhead efficiency
variance? A. $7,260 Unfavorable B. $39,050 Unfavorable C. $10,560 Favorable D. $31,240 Unfavorable