The advent of satellite radio has proven to be an advantage for radio advertising.
Answer the following statement true (T) or false (F)
False
The popularity of satellite radio presents a challenge for radio advertising since music stations on satellite radio are commercial-free.
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For which of the following accounts would a related Accumulated Depreciation account be recorded?
a. Office Equipment b. Land c. Office Supplies d. Prepaid Rent
Which of the following statements is true about accession?
A. Under accession, the owner of the original property generally doesn't become the owner of the improvements. B. Accession is the intermixing of goods belonging to different owners in such a way that the goods cannot later be separated. C. Even if a person improves personal property without the consent of its owner, he has to be reimbursed by the owner. D. A person who mistakenly improves property in good faith assuming that he is its owner is usually entitled to recover the cost of the improvement.
Additional funds needed (AFN) will be negative if:?
A. ?assets that can be acquired only in large, discrete amounts are acquired. B. ?the plant and equipment of the firm is increased to achieve additional growth. C. ?the amount of internal financing expected is decreased because of an increase in operations of the firm. D. ?there are economies of scale in the use of many types of assets. E. ?the amount of internally generated funds is more than sufficient to support the forecasted increase in sales.
Mirabile Corporation uses activity-based costing to compute product margins. Overhead costs have already been allocated to the company's three activity cost pools--Processing, Supervising, and Other. The costs in those activity cost pools appear below: Processing$5880?Supervising$33,600?Other$12,100?Processing costs are assigned to products using machine-hours (MHs) and Supervising costs are assigned to products using the number of batches. The costs in the Other activity cost pool are not assigned to products. Activity data appear below: MHs(Processing)Batches(Supervising)Product M011,400?800?Product M5600?800?Total12,000?1600??Finally, sales and direct cost data are combined with Processing and Supervising costs to determine product margins. Product M0Product
M5Sales (total)$86,300?$98,400?Direct materials (total)$30,200?$33,100?Direct labor (total)$29,500?$43,400??What is the product margin for Product M5 under activity-based costing? A. $4214 B. $21,900 C. $4806 D. $26,600