Pedregon Corporation has provided the following information: Cost per Unit Cost per PeriodDirect materials$6.35 Direct labor$3.75 Variable manufacturing overhead$1.50 Fixed manufacturing overhead $15,000Sales commissions$0.50 Variable administrative expense$0.55 Fixed selling and administrative expense $4,500If 4,000 units are sold, the total variable cost is closest to:
A. $50,600
B. $58,400
C. $46,400
D. $66,200
Answer: A
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When people or firms that are worse than average risks are most likely to enter a contract that is offered to everyone, the problem is called
A. irrational expectations. B. adverse selection. C. opportunity cost. D. moral hazard.
Leo's company produces a high volume of bicycle helmets, yet they come in a high variety of distinctive styles. The company is engaging in
A. mass production. B. individual customization. C. flexible production. D. mass customization. E. individual production.
Gloria Catering provided $1,000 of catering services and billed its client for the amount owed. Determine the general journal entry that Gloria Catering will make to record this transaction.
A.
| Accounts Receivable | 1,000 | |
| Unearned Catering Revenue | 1,000 |
B.
| Unearned Catering Revenue | 1,000 | |
| Catering Revenue | 1,000 |
C.
| Catering Revenue | 1,000 | |
| Accounts Receivable | 1,000 |
D.
| Accounts Receivable | 1,000 | |
| Catering Revenue | 1,000 |
E.
| Accounts Payable | 1,000 | |
| Catering Revenue | 1,000 |
Do not use a thesaurus ___________________
a. to find bigger words than you can think of b. if you cannot spell a word c. to locate antonyms d. to improve your vocabulary