Traditional purchasers understand the risk/reward tradeoff and are prepared to manage it better to attain overall lower costs
a. True
b. False
Indicate whether the statement is true or false
False
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Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $10,700 of common stock for cash. 2) The company paid cash to purchase $6700 of inventory. 3) The company sold inventory that cost $4100 for $7900 cash. 4) Operating expenses incurred and paid during the year, $3600. Sanchez Company engaged in the following transactions during Year 2: 1) The company paid cash to purchase $9000 of inventory. 2) The company sold inventory that cost $8300 for $14,500 cash. 3) Operating expenses incurred and paid during the year, $4600. Note: Sanchez uses the perpetual inventory system.What is the amount of retained earnings that will be shown on the balance sheet at December 31, Year 2?
A. $1800 B. $1600 C. $6600 D. $9500
When athletes wear defective protective gear and are injured while using the equipment they may bring a suit for consortium against the manufacture and seller of the gear
Indicate whether the statement is true or false
Low-power distance cultures prefer that power be distributed uniformly where possible, in an egalitarian fashion.
Answer the following statement true (T) or false (F)
Letcher Corporation manufactures and sells one product. The following information pertains to the company's first year of operations: Variable costs per unit: Direct materials$89Fixed costs per year: Direct labor$616,000Fixed manufacturing overhead$3,472,000Fixed selling and administrative expenses$1,782,000 The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 56,000 units and sold 54,000 units. The company's only product is sold for $227 per unit.The company is considering using either super-variable costing or a variable costing system that assigns $11 of direct labor cost to each unit that is produced. Which of the following statements is true
regarding the net operating income in the first year? A. Variable costing net operating income exceeds super-variable costing net operating income by $22,000. B. Super-variable costing net operating income exceeds variable costing net operating income by $124,000. C. Variable costing net operating income exceeds super-variable costing net operating income by $124,000. D. Super-variable costing net operating income exceeds variable costing net operating income by $22,000.