In the current year, the New Products Division of Testar Company had operating income of $8,000,000 and operating assets of $44,800,000. Testar has set a target return on investment (ROI) of 16% for each of its divisions. Which of the following statements is correct?
A. The New Products division yielded no residual income.
B. Residual income for the New Products division was $832,000.
C. The New Products division yielded ROI that was lower than the target ROI.
D. All of these answers are correct.
Answer: B
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The individuals you are most likely to in?uence with your persuasive presentation are referred to as your
A) target audience B) peer audience C) general audience D) leading audience
Traditionally, the most popular companywide base for allocating overhead to products was:
A. number of units produced. B. direct labor hours or costs. C. number of units sold. D. machine hours.
The AIO items used in lifestyle analysis include
A. attitudes, interests, and opinions. B. activities, interests, and opinions. C. attitudes, intentions, and opinions. D. attitudes, income, and opinions. E. activities, intentions, and opinions.
Job no. C12 was completed in November at a cost of $28,500, subdivided as follows: direct material, $13,500; direct labor, $6,000; and manufacturing overhead, $9,000. The journal entry to record the completion of the job is:
A.
| Cost of Goods Sold | 28,500 | |
| Finished-Goods Inventory | 28,500 |
B.
| Finished-Goods Inventory | 28,500 | |
| Work-in-Process Inventory | 28,500 |
C.
| Work-in-Process Inventory | 28,500 | |
| Finished-Goods Inventory | 28,500 |
D.
| Work-in-Process Inventory | 28,500 | |
| Wages Payable | 6,000 | |
| Raw-Material Inventory | 13,500 | |
| Manufacturing Overhead | 9,000 |
E.
| Finished-Goods Inventory | 28,500 | |
| Cost of Goods Sold | 28,500 |