The Bacon Company acquired new machinery with a price of $15,200 by trading in similar old machinery and paying $12,700. The old machinery originally cost $9,000 and had accumulated depreciation of $5,000. In recording this transaction, Bacon Company should record
A) the new machinery at $16,700
B) the new machinery at $12,700
C) a gain of $1,500
D) a loss of $1,500
D
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The degrees of freedom for the t statistic to test the hypothesis about two independent samples is ________
A) n B) n - 1 C) n1 + n2 D) n1 +n2 - 2
Magpie Corporation uses the total cost concept of product pricing. Below is cost information for the production and sale of 60,000 units of its sole product. Magpie desires a profit equal to a 25% rate of return on invested assets of $700,000. Fixed factory overhead cost $38,500 Fixed selling and administrative costs 7,500 Variable direct materials cost per unit 4.60 Variable direct labor cost
per unit 1.88 Variable factory overhead cost per unit 1.13 Variable selling and administrative cost per unit 4.50 The dollar amount of desired profit from the production and sale of the company's product is: A) $175,000 B) $67,200 C) $73,500 D) $96,000
Relevant costs:
A) are sunk costs. B) are costs that differ among alternatives. C) are unavoidable. D) can not be opportunity costs.
Jeffrey was just named Employee of the Month. To decide who would receive this honor, management must have used the ________ method of performance appraisal.
A. ranking B. management by objectives C. graphic rating D. behaviorally anchored rating E. qualitative ranking