Mungo Pet Supplies makes cat trees for several pet store chains. They order rolls of carpet (used to cover the trees) from a supplier. Mungo’s management has decided to use an EOQ model. The annual demand for carpet is estimated to be 1,000 rolls. The purchase price per roll is $20 and estimated inventory carrying cost rate is 25%. The cost to place an order from the supplier is $30. What is the maximum inventory amount that Mungo can expect to hold at any one time?
a. 54.7
b. 1000
c. 109.5
d. 500
c. 109.5
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Forces which may permit fraud to occur do not include
a. a gambling addiction b. lack of segregation of duties c. centralized decision making environment d. questionable integrity of employees
Use this information to answer the following question. The selected accounts and balances for Keystone Market appear as follows: Advertising Expense $ 14,000 Common Stock 100,000 Dividends 21,000 Freight-In 7,000 Freight-Out Expense 10,000 Interest Income 24,000 Merchandise Inventory (Jan. 1) 70,000 Merchandise Inventory (Dec. 31) 56,000 Purchases 60,000 Purchases Returns and Allowances 4,000
Rent Expense 9,000 Retained Earnings 40,000 Sales 151,000 Sales Returns and Allowances 19,000 Wages Expense 32,000 Gross margin from sales would be a. $62,000. b. $55,000. c. $74,000. d. $68,000.
Which of the following calculations can be used to measure a company's degree of operating leverage?
A. Sales ÷ contribution margin. B. Sales ÷ fixed costs. C. Contribution margin ÷ sales. D. Contribution margin ÷ income. E. Sales ÷ income.
Answer the following statements true (T) or false (F)
1. Character size is standard across most typeface styles. 2. Choosing red as the main color of a presentation and green as an accent color creates a pleasing combination with strong contrast that will be visible to most readers. 3. Information in larger size characters is usually interpreted as more important than information in smaller size characters. 4. Negative space suggests sloppy or lazy design and should be filled with text or graphics.