Santa Fe Production sells a single product to wholesalers. The company's budget for the upcoming year revealed anticipated unit sales of 31,600, a selling price of $20, variable cost per unit of $8, and total fixed costs of $360,000. If Santa Fe's unit sales are 300 units more than anticipated, its break-even point will:
A. decrease by $8 per unit sold.
B. decrease by $12 per unit sold.
C. increase by $8 per unit sold.
D. increase by $12 per unit sold.
E. not change.
Answer: E
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A purchase order is sent from a company's
a. requesting department to the supplier. b. treasurer to the supplier. c. requesting department to its accounting department. d. purchasing department to the supplier.
Stock categorized as trading securities is purchased for $52,000. At year end, when the market value of the stock is $61,000, the adjusting entry that would be recorded is:
A) Allowance to Adjust Short-Term Investments to Market 9,000 Unrealized Gain on Short-Term Investments 9,000 B) Unrealized Loss on Short-Term Investments 9,000 Allowance to Adjust Short-Term Investments to Market 9,000 C) Allowance to Adjust Short-Term Investments to Market 9,000 Short-Term Investments 9,000 D) Realized Gain on Investments 9,000 Short-Term Investments 9,000
The maximum authorized inventory for this part is _____
a. less than 25 parts b. more than 25 butless than or equal to 50 parts c. more than 50 butless than or equal to 100 parts d. more than 100 butless than or equal to 150 parts
The interest on $6,000 at 6% compounded semiannually for eight years is (use table in the handbook):
A. $13,628.20 B. $3,682.02 C. $362.82 D. $3,628.20 E. None of these