Goals should be set as high as possible regardless of reality because they may eventually be obtainable
Indicate whether the statement is true or false.
Answer: FALSE
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The failure of decision makers to notice gradual variations over time is known as ________.
A. change blindness B. inattentional blindness C. conscious incompetence D. rational ignorance
Joey is planning to invest his savings in a fixed income fund. He manages to deposit $700 at the end of the first year, $500 at the end of the second year, $300 at the end of the third year, and $600 at the end of the fourth year. If the fund earns 6 percent interest each year, the terminal value of this uneven cash flow stream at the end of Year 4 is _____.
A. $2,314 B. $1,855 C. $2,097 D. $2,355 E. $1,784
Exhibit 15.1 Zorn Corporation is deciding whether to pursue a restricted or relaxed working capital investment policy. The firm's annual sales are expected to total $4,400,000, its fixed assets turnover ratio equals 4.0, and its debt and common equity are each 50% of total assets. EBIT is $150,000, the interest rate on the firm's debt is 10%, and the tax rate is 40%. If the company follows a restricted policy, its total assets turnover will be 2.5. Under a relaxed policy its total assets turnover will be 2.2. Refer to Exhibit 15.1. If the firm adopts a restricted policy, how much lower would its interest expense be than under the relaxed policy? Do not round intermediate calculations. ?
A. $13,320 B. $14,520 C. $12,000 D. $11,400 E. $13,920
The Focus Company does not maintain backup documents for its computer files. In June, some of the current data were lost, and you have been asked to help reconstruct the data. The following beginning balances are known: Direct materials inventory$24,000 Work-in-process inventory 9,000 Finished goods inventory 22,000 Manufacturing overhead control 33,000 Accounts payable 12,000 Reviewing old documents and interviewing selected employees have generated the following additional information:The production superintendent's job cost sheets indicated that materials of $5,200 were included in the June 30 Work-in-Process Inventory. Also, 300 direct labor-hours had been paid at $12.00 per hour for the jobs in process on June 30.The Accounts Payable account is only for direct
material purchases. The clerk remembers clearly that the balance in the Accounts Payable on June 30 was $16,000. An analysis of canceled checks indicated payments of $80,000 were made to suppliers during June.Payroll records indicate that 5,200 direct labor-hours were recorded for June. It was verified that there were no variations in pay rates among employees during June.Records at the warehouse indicate that the Finished Goods Inventory totaled $32,000 on June 30.Another record kept manually indicates that the Cost of Goods Sold in June totaled $168,000.The predetermined overhead rate was based on an estimated 60,000 direct labor-hours for the year and an estimated $360,000 in manufacturing overhead costs.Required:(a) Compute the Cost of Goods Manufactured.(b) Compute the ending Work-in-Process Inventory balance.(c) Compute the ending Direct Materials Inventory balance. What will be an ideal response?