A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price$88Units in beginning inventory 0Units produced 5,200Units sold 4,900Units in ending inventory 300Variable costs per unit: Direct materials$12Direct labor$23Variable manufacturing overhead$2Variable selling and administrative expense$5Fixed costs: Fixed manufacturing overhead$161,200Fixed selling and administrative expense$63,700 The total contribution margin for the month under variable costing is:
A. $249,900
B. $98,000
C. $64,200
D. $225,400
Answer: D
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Songtress Company bought a machine on January 1 . 2012 . for $24,000, at which time it had an estimated useful life of eight years, with no residual value. Straight-line depreciation is used for all of Songtress' depreciable assets. On January 1 . 2014, the machine's estimated useful life was determined to be only six years from the acquisition date. Accordingly, the appropriate accounting change
was made in 2014 . Songtress' income tax rate was 40 percent in all the affected years. In Songtress' 2014 financial statements, how much should be reported as the cumulative effect on prior years because of the change in the estimated useful life of the machine? a. $0 b. $1,200 c. $2,000 d. $2,800
In comparing the isolated store to the unplanned business district and planned shopping center, the major disadvantage of the isolated store is _____
a. high rents b. the absence of flexibility in store operations c. the absence of affinities d. lack of convenience in planning
The first step in finding a foreign market for a product is to determine whether a market exists for a firm's products.
Answer the following statement true (T) or false (F)
Kate and Ashley report their manager to HR because they feel that they were denied a promotion because of their age. They are both 29 and William was promoted and he is 45. They are claiming age discrimination. HR informs them that the law does not apply to them based solely on their age, because it does not
A. allow for jury trials. B. permit promotions based on performance. C. allow punitive damages. D. protect younger workers. E. permit business necessity as a ground to avoid a guilty verdict.