In some cities, advertisers gain complete domination by buying a total bus, meaning all the inside space on a fleet of buses.
Answer the following statement true (T) or false (F)
False
The term total bus refers to all the exterior space on a bus, including the front, rear, sides, and top.
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Using bar codes to take a physical inventory is considered poor accounting practice
Indicate whether the statement is true or false
JAX Inc In early 2012, JAX Inc had budgeted for the production and sales of 5,000 units at a sales price of $15 per unit. The following information is available regarding the standard cost for each unit: Direct materials: 1.50 pounds at $2.50 per lb Direct labor: 30 minutes of assembly at $.20 per minute Actual results for 2012 were determined to be as follows: Number of units produced and sold:
5,600 units Sales revenue: $100,800 ($18 per unit) Direct materials cost: $ 22,848 (9,520 lbs purchased and used at $2.40 per lb) Direct labor cost: $ 38,192 (173,600 minutes at $.22 per minute) Refer to the JAX Inc information above. What was JAX Inc's sales price variance for 2012? A) $15,000 F B) $15,000 U C) $16,800 F D) $16,800 U
A discount merchandiser is likely to have a higher inventory turnover than more upscale stores with higher merchandise prices.
Answer the following statement true (T) or false (F)
Gardner Sail Makers manufactures sails for sailboats
The company has the capacity to produce 37,000 sails per year and is currently producing and selling 30,000 sails per year. The following information relates to current production: Sales price per unit $185 Variable costs per unit: Manufacturing $62 Selling and administrative $22 Total fixed costs: Manufacturing $675,000 Selling and administrative $250,000 Assume that a special pricing order is accepted for 5,500 sails at a sales price of $150 per unit. This special order requires both variable manufacturing and variable selling and administrative costs, as well as incremental fixed costs of $400,000. What will be the impact on operating income? A) Operating income decreases by $363,000. B) Operating income decreases by $37,000. C) Operating income increases by $363,000. D) Operating income increases by $37,000.