Schwiesow Corporation has provided the following information: Cost per UnitCost per PeriodDirect materials$7.05 Direct labor$3.50 Variable manufacturing overhead$1.65 Fixed manufacturing overhead $11,000Sales commissions$1.00 Variable administrative expense$0.40 Fixed selling and administrative expense $5,500 If the selling price is $18.70 per unit, the contribution margin per unit sold is closest to:
A. $1.80
B. $8.15
C. $4.30
D. $5.10
Answer: D
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Which of the following best describes lapping?
a. applying cash receipts to a different customer's account in an attempt to conceal previous thefts of funds b. inflating bank balances by transferring money among different bank accounts c. expensing an asset that has been stolen d. creating a false transaction
Ted Catering received $800 cash in advance from a customer for catering services to be provided in three months. Determine the general journal entry that Ted Catering will make to record the cash receipt. Assume the company's policy is to initially record prepaid and unearned items in balance sheet accounts.
A.
| Unearned Catering Revenue | 800 | |
| Catering Revenue | 800 |
B.
| Cash | 800 | |
| Unearned Catering Revenue | 800 |
C.
| Cash | 800 | |
| Accounts Receivable | 800 |
D.
| Accounts Receivable | 800 | |
| Catering Revenue | 800 |
E.
| Cash | 800 | |
| Catering Revenue | 800 |
Listing them in the proper order, what are the stages in the buyer decision process? Describe each
What will be an ideal response?
Mango Corporation believes that Melon Corporation engages in anticompetitive behavior in an attempt to drive Mango and its other competitors out of the market. Antitrust laws can be enforced against Melon by
a. Mango and its competitors only. b. Mango, its competitors, and the Federal Trade Commission only. c. Mango, its competitors, the Federal Trade Commission, and the U.S. Department of Justice. d. the Federal Trade Commission and U.S. Department of Justice only.