A company has goods available for sale of $250,000 at retail and $175,000 at cost. It also had sales of $210,000 for the period. What is the estimated cost of ending inventory, using the retail method?
a. $38,000
b. $28,000
c. $40,000
d. $63,000
B
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Current information for the Healey Company follows: Beginning raw materials inventory$15,200 Raw material purchases 60,000 Ending raw materials inventory 16,600 Beginning work in process inventory 22,400 Ending work in process inventory 28,000 Direct labor 42,800 Total factory overhead 30,000 All raw materials used were traceable to specific units of product. Healey Company's direct materials used for the year is:
A. $75,200. B. $76,600. C. $61,400. D. $58,600. E. $60,000.
The primary document needed to incorporate a business is the articles of incorporation.
Answer the following statement true (T) or false (F)
Scenario 3.2 Use the following to answer the questions. Clayton Homes, a mobile home manufacturer since 1934, introduced its new i-House in 2007. The i-House is one of the first of its kind, designed as an updated, modern version of the modular home, offered as a base home plus add-ons known as "pods." The base home is a one-bedroom, one-bath, 734-square-foot version at a price of around $80,000. There is also a 1,000-square-foot version for around $100,000. All versions may add on the additional one-room pods, which are shipped to your location and constructed on site. The homes offer galvanized metal roofing, corrugated steel siding, VOC-free paints, and a "butterfly" roof that collects rainwater. The i-House uses 30% less energy than a similar square-foot home and offers "green"
characteristics of solar panels, tankless water heaters, and low-flow faucets. In addition, it comes with bamboo flooring, a renewable resource. The modular, prefabricated design offers endless options for creating the customer's home, and its engineered building system cuts down on construction waste. Due to the "green effects" of the i-House, the state governments have given it a tax abatement for any sales taxes. Refer to Scenario 3.2. Clayton Homes is revising its marketing strategy for the i-House due to the recent recession. Which of the following is the best action for promoting the i-House in the near future? A. Emphasize the technology of the i-House. B. Focus on the "green" qualities of the home and target environmentally-conscious individuals. C. Significantly reduce advertising expenditures to create an exclusive image. D. Decrease production until the economy improves. E. Significantly reduce the prices on the company's product offerings.
The best way to reduce overall distribution costs is to
A. use a total-cost approach to analyze and evaluate the entire system. B. minimize the costs associated with materials handling and transportation. C. reduce the number of distribution functions that are necessary. D. find the cheapest price for each function and use them to create the system. E. lower the service standards that the company has.