Consider the Demand for Microwave Ovens data set. What is the total demand corresponding to random numbers 11, 94, 58, 49, 35, and 14?
A. 9
B. 12
C. 10
D. 11
B. 12
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Check 21 contains a special refund procedure, called "expedited recredit," for a customer who suffers a loss because of ________ check.
A. a substitute B. a cashier's C. the original D. a fraudulent
Which of the following types of companies would be most likely to benefit from activity-based costing?
A) Companies with a low potential for cost distortions B) Companies that have a large proportion of unit-level costs C) Companies that have a relatively high proportion of overhead compared to direct materials and direct labor D) None of these
Which of the following variables is considered random or probabilistic?
A) future interest rates B) last year's advertising budget C) last week's sales data D) historical stock prices E) historical interest rates
Clarion Company, a new firm, manufactures two products, J and K, in a common process. The joint costs amount to $80,000 per batch of finished goods. Each batch results in 20,000 liters of output, of which 80% are J and 20% are K.The two products are processed beyond the split-off point, with Clarion incurring the following separable costs: J, $2 per liter; K, $5 per liter. After the additional processing, the selling price of J is $12 per liter, and the selling price of K is $15 per liter.Required:A. Determine the proper allocation of joint costs if the company uses the net-realizable-value method.B. Assume that Clarion sold all of its production of K during the current accounting period. Compute K's sales revenue, cost of goods sold, and gross margin.C. Is the firm's cost-of-goods-sold
figure influenced by the choice of a joint-cost allocation method? Briefly explain. What will be an ideal response?