Operating budgets for the DiP Company reveal the following information: net sales, $400,000; beginning materials inventory, $23,000; materials purchased, $185,000; beginning work in process inventory, $64,700; beginning finished goods inventory, $21,600; direct labor costs, $34,000; overhead applied, $67,000; ending work in process inventory, $61,200; ending materials inventory, $18,700; and
ending finished goods inventory, $16,300. Compute DiP Company's budgeted gross margin.
A) $299,800
B) $293,800
C) $150,900
D) $100,900
D
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The concept of reasonable assurance suggests that
a. the cost of an internal control should be less than the benefit it provides b. a well-designed system of internal controls will detect all fraudulent activity c. the objectives achieved by an internal control system vary depending on the data processing method d. the effectiveness of internal controls is a function of the industry environment
Many companies have to monitor closely certain ratios, such as the current ratio, due to debt covenants. Selected transactions are provided below for a company that uses a perpetual inventory system; sells its merchandise at a selling price that exceeds cost; and had a current ratio of 1.85 and a quick ratio of 1.19 before the event occurred.
Required:In the above table, indicate whether each transaction would increase (+), decrease (?), or not affect (0) the company's current ratio and quick ratio.
What will be an ideal response?
Which of the following is NOT a technique used by governments or central banks to impact domestic currency valuation?
A) Indirect Intervention B) Direct Intervention C) Capital Controls D) All of the above are techniques used to control currency valuation.
What is a coding process that takes a digital map feature and assigns it an attribute that serves as a unique ID (tract number, node number) or classification (soil type, zoning category)?
A. Geocache B. Geocoin C. Geocoding D. All of the above