The following information is available for Fordham Corp for its most recent year: Net sales ............................................. $3,600,000 Freight-in ............................................ 90,000 Purchase discounts .................................... 50,000 Ending inventory ...................................... 240,000 The gross margin is 40 percent of net sales. What is the
cost of goods available for sale?
a. $1,680,000
b. $1,920,000
c. $2,400,000
d. $2,440,000
C
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Indicate whether the statement is true or false
_______________ communication is the ability to transmit messages through e-mail, Skype, videoconferencing, blogs, fax, instant messaging, texting and social networking.
a. Oral b. Nonverbal c. Written d. Electronic
With reference to #51, what if the owner of the land had taken title with a general warranty deed from the seller?
A)?Then the seller would be required to cover the cost of the mortgage because the lack of a permit is a breach of the warranty of possession. B)?The seller would be required to cover the cost of the mortgage because the property cannot be used for what was warranted to the buyer. C)?The warranty deed does not cover zoning issues with the property. D)?The seller would have to cover damages only if it was a special warranty deed.
The management of Furrow Corporation is considering dropping product L07E. Data from the company's budget for the upcoming year appear below:Sales$830,000Variable expenses$365,000Fixed manufacturing expenses$291,000Fixed selling and administrative expenses$166,000In the company's accounting system all fixed expenses of the company are fully allocated to products. Further investigation has revealed that $186,000 of the fixed manufacturing expenses and $106,000 of the fixed selling and administrative expenses are avoidable if product L07E is discontinued. The financial advantage (disadvantage) for the company of eliminating this product for the upcoming year would be:
A. $8,000 B. ($173,000) C. $173,000 D. ($8,000)