The following budget information is available for Crescent Company for January Year 2: Sales$800,000 Cost of goods sold 540,000 Utilities expense 2,500 Administrative salaries 100,000 Sales commissions 5% of SalesAdvertising 20,000 Depreciation on store equipment 50,000 Rent on administration building 60,000 Miscellaneous administrative expenses 10,000 Percentage of sales on credit 80% All operating expenses are paid in cash in the month incurred. The amount of expected cash outflow for selling and administrative expenses would be:
A. $232,500.
B. $247,500.
C. $312,500.
D. $262,500.
Answer: A
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) Carbamate Manufacturing produces a pesticide chemical and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, the Refining Department had 2000 gallons of partially processed product in production. During January, 31,000 gallons were transferred in from the Mixing Department, and 32,000 gallons were completed and transferred out. At the end of the month, 1000 gallons of partially processed product remained in the Refining Department. The weighted-average method is used. See additional details below.
Refining Department, ending balance at January 31 Percent completed for materials cost: 90% Percent completed for conversion cost: 76% What was the total number of equivalent units of production for conversion costs for the month of January for the Refining Department? A) 760 units B) 32,760 units C) 32,000 units D) 900 units
Match the following definitions and terms.
A. Credit B. Balance column account C. Trial balance D. Debt ratio E. Ledger F. Journal G. Note payable H. Account balance I. Debit J. Chart of accounts
Under the Equal Credit Opportunity Act, lenders can:
a. not discriminate on religion even if people of that religion frequently default on their loans b. discriminate against persons who receive welfare c. discriminate against persons because of race d. not discriminate against persons with low income e. not discriminate by charging different debtors different interest rates
Which IPS response to an attack is the most effective in stopping attacks?
A) Dropping packets B) Limiting suspicious traffic to a certain percentage of the total bandwidth C) Both A and B are equally effective D) Neither A nor B