What is the optimal profit?
The XYZ manufacturing company produces ball bearings. The annual fixed cost is $20,000 and the variable cost per ball bearing is $3. The price is related to demand according to the following equation: 1000 - 8p.
Answer: $9768
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Which financial statement would you analyze to determine if a company distributed any of its profits to its shareholders?
a. Balance Sheet b. Statement of Retained Earnings c. Income Statement d. Statement of Public Accounting
Suffolk Corporation issued $100,000 of 20-year, 6 percent bonds at 98 on one of its semi-annual interest dates. The straight-line method of amortization is to be used. The entry to record the bond interest expense on the next interest payment date is:
a. Bond Interest Expense 3,050 Unamortized Bond Discount 50 Cash 3,000 b. Bond Interest Expense 6,000 Unamortized Bond Discount 500 Cash 5500 c. Cash 6,050 Unamortized Bond Discount 6,050 d. Bond Interest Expense 3,000 Cash 3,000
Nonunion grievance procedures such as an open door policy or peer review panel typically lack ________ protections.
Fill in the blank(s) with the appropriate word(s).
The four steps necessary to determine the cost of goods completed and the ending inventory valuation in a process cost system are: 1. allocate costs to transferred and partially completed units 2. determine the units to be assigned costs 3. determine the cost per equivalent unit 4. calculate equivalent units of production The correct ordering of the steps is:
A) 2, 4, 3, 1 B) 4, 2, 3, 1 C) 2, 3, 4, 1 D) 2, 3, 1, 4