The following data relate to the Torrence Company for May and August of the current year: May AugustMaintenance hours 25,000 29,000 Maintenance cost$1,175,000 $1,247,000 May and August were the lowest and highest activity levels, and Torrence uses the high-low method to analyze cost behavior. Which of the following statements is true?
A. The fixed maintenance cost is $725,000 per month.
B. The variable maintenance cost is $47 per hour.
C. The variable maintenance cost is $43 per hour.
D. The variable maintenance cost is $45 per hour.
E. More than one of the other answers is true.
Answer: A
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a. credit to Interest Receivable for $4,500 b. credit to Interest Revenue for $4,500 c. debit to Interest Receivable for $4,500 d. debit to Interest Revenue for $4,500
Because of the small screen size, messages designed to be read on mobile devices should include specific and detailed information
Indicate whether the statement is true or false.
The acquisition and payment process consists of each of the following phases except which of the following?
a. Receipts of goods and services. b. Approval of items for payment. c. Application of cash receipts. d. Authorized request for goods and services.
Brian makes a material misrepresentation of fact regarding his horse to Rosalind while out riding one day. Later that day, Rosalind makes an offer to buy the horse which Brian accepts, without correcting his earlier misrepresentation of fact. In this case:
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