Which of the following is subtracted from weighted average EUP to derive FIFO EUP?
a. beginning WIP EUP completed in current period
b. beginning WIP EUP produced in prior period
c. ending WIP EUP not completed
d. ending WIP EUP completed
B
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For the year ended December 31, a company has revenues of $330,000 and expenses of $202,500. The company paid $55,200 in dividends during the year. The balance in the Retained earnings account before closing is $94,000. Which of the following entries would be used to close the dividends account?
A. Debit Income Summary $55,200; credit Retained earnings $55,200. B. Debit Dividends $55,200; credit Retained earnings $55,200. C. Debit Retained earnings $55,200; credit Dividends $55,200. D. Debit Retained earnings $94,000; credit Income Summary $94,000. E. Debit Income Summary $94,000; credit Dividends $94,000.
Answer the following statements true (T) or false (F)
The income statement for Eideldown, Inc. is divided by its two product lines, blankets and pillows, as follows:
If total fixed costs remain unchanged and Eideldown, Inc. drops the pillows line, operating income will decrease by $270,000.
Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 1,700 units were 95% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450
and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was: A) 14,365 B) 13,615 C) 12,000 D) 15,865
A disadvantage of the concentrated targeting strategy is that
A. the firm's financial condition is tied to a single and specialized marketing mix. B. large sales volumes cannot be generated. C. production costs may be higher than with other strategies. D. marketing personnel may become dissatisfied with the limited opportunities provided by this approach. E. marketing costs are often higher than for other strategies.