Murie Corporation makes one product and has provided the following information: Budgeted selling price per unit$98per unit soldBudgeted unit sales, February 11,000unitsRaw materials requirement per unit of output 5poundsRaw materials cost$3.00per poundDirect labor requirement per unit of output 2.5direct labor-hoursDirect labor wage rate$18.00per direct labor-hourPredetermined overhead rate (all variable)$11.00per direct labor-hourVariable selling and administrative expense$2.70per unit soldFixed selling and administrative expense$80,000per monthThe estimated net operating income (loss) for February is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $42,000
B. $85,800
C. $5,800
D. $35,500
Answer: C
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In November and December 2013 . Bee Company, a newly organized newspaper publisher, received $72,000 for 1,000 three-year subscriptions at $24 per year, starting with the January 2, 2014, issue of the newspaper. How much should Bee report in its 2013 income statement for subscription revenue?
a. $0 b. $12,000 c. $24,000 d. $72,000
Customer order cycle time is the agreed upon time between the purchase of a product and the delivery of the product.
Answer the following statement true (T) or false (F)
The Foreign Sovereign Immunities Act broadly defines com¬mercial activity
Indicate whether the statement is true or false
Repatriation is concerned with the:
a. removal of a company's products to its home nation b. removal of a company's products to foreign nations c. ability of a business to return money earned in a foreign nation to its home nation d. ability of a foreign company to transfer assets on a stock exchange other than its home exchange e. ability of a business to relocate to a foreign nation