If beginning merchandise inventory is $25,000, ending merchandise inventory is $30,000 and net purchases are $50,000, the cost of goods available for sale is:
a. $75,000.
b. $20,000.
c. $5,000.
d. $25,000.
a
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Averette & Averette Averette & Averette, a local dental practice, currently makes its own dentures for customers. The dental practice has one part-time employee who comes in weekly to make dentures. The employee is paid $150 per denture set. The direct materials and variable overhead cost per set of dentures is $75 and $25, respectively. In addition, the practice allocates $10,000 of fixed
overhead to the denture-making department. The practice makes 1,000 sets of dentures per year. An outside company who specializes in the making of dentures has offered to make each set of dentures for Averette & Averette for $255 per set. Refer to the Averette & Averette information above. If Averette & Averette outsources the making of dentures, the net income will: A) decrease by $15,000. B) increase by $5,000. C) increase by $15,000. D) decrease by $5,000.
An owner who also works as a technician and serves as manager expects compensation for which of the following?
A. Technician wages B. Return on money invested C. Manager’s salary D. All of the above
Too much e-mail communication can lead to information ______.
A. breakdown B. think C. effect D. overload
Mercury Corporation acquired 100 percent of the stock of Jupiter Company when the book value of Jupiter's net assets was $250,000. The fair value of Jupiter's net assets was $280,000 on the acquisition date.Based on the preceding information, what amount of goodwill will be reported in consolidated financial statements presented immediately following the combination if Mercury paid $275,000 for the acquisition?
A. $5,000 B. ($5,000) C. $25,000 D. $0