Bryans Corporation has provided the following data for its two most recent years of operation: Selling price per unit$53Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$13Direct labor$6Variable manufacturing overhead$5Fixed manufacturing overhead per year$63,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold$4Fixed selling and administrative expense per year$71,000 Year 1 Year 2Units in beginning inventory0 3,000Units produced9,000 7,000Units sold6,000 7,000Units in ending inventory3,000 3,0000 The unit product cost under variable costing in Year 1 is closest to:
A. $31.00
B. $28.00
C. $35.00
D. $24.00
Answer: D
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A firm is considering adding a second secretary to answer phone calls and make appointments. The cost of the secretary will be $10/hour and she will work 200 hours each month
If each new client adds $400 of profit to the firm, how many clients must the secretary arrange for the firm to break even?
Luke owns a farm near Marshalltown, Iowa, with stands of trees serving as windbreaks. Luke grows corn on the property. When Luke sells the farm to Nina, if the contract does not specify otherwise, the sale includes
A. neither the crops nor the trees. B. the crops and the trees. C. the crops only. D. the trees only.
Branin Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $160,000, variable manufacturing overhead of $3.40 per direct labor-hour, and 80,000 direct labor-hours. The company has provided the following data concerning Job A578 which was recently completed: Total direct labor-hours 250Direct materials$715Direct labor cost$9,000The amount of overhead applied to Job A578 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $850 B. $2,200 C. $500 D. $1,350
To determine the optimal risky portfolio in the Treynor-Black model, macroeconomic forecasts are used for the _________, and composite forecasts are used for the __________.
A. passive index portfolio; active portfolio B. active portfolio, passive index portfolio C. expected return; standard deviation D. expected return ; beta coefficient E. alpha coefficient; beta coefficient