a rock group assigns its payment under a performance contract to the costume shop, a business that has supplied the group with outrageous stage outfits, and to which the group owes a great sum of money. This is:
What will be an ideal response?
a valid assignment because this is a simple transfer of the right to receive money
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If a company mistakenly counts more items during a physical inventory than actually exist, how will the error affect their bottom line?
A) No change to net income. B) Net income will be overstated C) Net income will be understated. D) Only gross profit will be affected.
Clay Corporation manufactures two styles of lamps—a Bedford Lamp and a Lowell Lamp
The following per unit data are available: Bedford Lamp Lowell Lamp Sales price $27 $35 Variable costs $17 $22 Machine hours required for one lamp 2 4 Total fixed costs are $30,000, and Clay can sell a maximum of 10,000 units of each style of lamp annually. Machine hour capacity is 25,000 hours per year. What is the contribution margin per machine hour for the Bedford Lamp? (Round your answer to the nearest cent.) A) $5.00 per machine hour B) $3.25 per machine hour C) $13.50 per machine hour D) $17.50 per machine hour
Which is the decimal equivalent of 175%?
A) 17.5 B) 1.75 C) 0.175 D) 0.0175
If the profit on the Cityscape increases to 35, will any of the Cityscape bikes be ordered?
A large sporting goods store is placing an order for bicycles with its supplier. Four models can be ordered: the adult Open Trail, the adult Cityscape, the girl's Sea Sprite, and the boy's Trail Blazer. It is assumed that every bike ordered will be sold, and their profits, respectively, are 30, 25, 22, and 20. The LP model should maximize profit. The store needs to worry about several conditions. One of these is space to hold the inventory. An adult's bike needs two feet, but a child's bike needs only one foot. The store has 500 feet of space. There are 1200 hours of assembly time available. The child's bikes need 4 hours of assembly time, the Open Trail needs 5 hours, and the Cityscape needs 6 hours. The store would like to place an order for at least 275 bikes.