Mini-Case Question. What is the total amount of Carbon Footwear's net marketing contribution?
A) $10 million
B) $20 million
C) $30 million
D) $40 million
E) $50 million
C
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Opal Manufacturing Company established the following standard price and cost information: Sales price$50per unitVariable manufacturing cost 32per unitFixed manufacturing cost$100,000totalFixed selling and administrative cost$40,000total Opal expected to produce and sell 25,000 units. Actual production and sales amounted to 26,500 units.Required:(a) Determine the sales volume variances, including variances for number of units, sales revenue, variable manufacturing cost, fixed manufacturing cost, and fixed selling and administrative cost. (b) Classify the variances as favorable (F) or unfavorable (U). (c) Comment on the usefulness of the variances with respect to performance evaluation. (d) Explain why the fixed cost variances are zero.
What will be an ideal response?
Revenue and expense accounts
a. are permanent accounts. b. are temporary accounts. c. reflect cumulative changes in each account since the organization of the firm. d. record all cash receipts and cash disbursements. e. none of the above
Which of the following would constitute an implied warranty?
A) affirmation of the facts of the goods B) description of the goods C) model or sample of the goods D) adequate packaging and labeling of the goods
Angela is determining the media plan for her tax accounting business. She is currently selecting an advertising medium and is looking for a medium that is not expensive, allows for a short lead time, has large reach, and provides frequent communication. Based on these, Angela should avoid
A. direct mail. B. television. C. radio. D. outdoor advertising. E. magazines.