Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production$65,000Wages paid to the workers who paint the figurines$90,000Wages paid to the sales manager's secretary$22,000Cost of junk mail advertising$47,000 What is the total of the direct costs above?
A. $112,000
B. $202,000
C. $155,000
D. $65,000
Answer: C
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Carlton, Inc presented the following information in a note to its financial statements for the year ending December 31, 2016: The company has a loan agreement with Beachside Bank that states: 1 . The current ratio should remain at least 2.0 to 1 at all times. 2 . The debt-to-equity ratio should not exceed .7 to 1 at any time. 3 . The times-interest-earned should be 5.0 or better. 4 . The
inventory-turnover should be 4.0 or better. The ratios at year-end are: current ratio, 2.3 to 1; debt-to-equity ratio, .6 to 1; times-interest-earned, 7.1; and inventory-turnover, 3.7 . Which of the following statements is true? a. Carlton was in default because of the inventory turnover. b. Carlton was in default because of the current ratio. c. Carlton was in default because of the debt-to-equity ratio. d. Carlton was in default because of the times-interest-earned.
Debits to Cost of Goods Sold typically represent the
a. transfer of completed items to Finished Goods Inventory. b. costs of items sold. c. selling price of items sold. d. the cost of goods manufactured.
The use of precedent to reach legal conclusions is so common that legal reasoning can be characterized as predominantly analogical reasoning
Indicate whether the statement is true or false
Blue Nile is an online retailer of diamonds that has used responsive transportation to ship diamonds to customers in the United States, Canada, and several countries in Europe and Asia. Which is the mode of transportation used with this strategy?
A) Sea B) Rail C) Internet D) Air