Under the periodic inventory system, Village Fabrics purchases navy plaid fabric used in its fabric-selling business in the following lots: June 5 ? 4 yards at $2.50 per yard; June 12 ? 7 yards at $3.00 per yard; June 17 ? 8 yards at $3.50 per yard. What is the periodic average cost of the fabric per yard?
a. $3.00 per yard
b. $3.11 per yard
c. $2.50 per yard
d. $3.05 per yard
b
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Mia is meeting a potential customer to give a sales presentation and is concerned about what to wear. Which of the following would most likely enable Mia to convey a professional image?
A) brightly colored dress B) loose fitting shirt C) layers of jewelry D) scuffed shoes E) tailored skirt
The investment function of finance helps in_____.
A. taking decisions regarding the cash flow of the investment corporation B. determining the expenses incurred on ensuring the socially acceptable behavior of the investment corporation C. determining the values, risks, and returns associated with such financial assets as stocks and bonds D. ensuring that 50 percent of investments are in environment-friendly corporations E. ensuring that the corporations pay out maximum dividends per share
An isoprofit line represents a line whereby all profits are the same along the line
Indicate whether the statement is true or false
Moskowitz Corporation has provided the following data for its two most recent years of operation: Selling price per unit$91 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$13Direct labor$7Variable manufacturing overhead$3Fixed manufacturing overhead per year$480,000Selling and administrative expenses: Variable selling and administrative expense per unit sold$6Fixed selling and administrative expense per year$84,000 Year 1Year 2Units in beginning inventory03,000Units produced during the year12,00010,000Units sold during the year9,00010,000Units in ending inventory3,0003,000 The unit product cost under variable costing in Year 1 is closest to:
A. $63.00 B. $23.00 C. $69.00 D. $29.00