For a security interest to attach, there must be an agreement
a. True
b. False
Indicate whether the statement is true or false
True
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Credit terms of 2/10, n/30 imply that the seller offers the purchaser a 2% cash discount if the amount is paid within 10 days of the invoice date. Otherwise, the full amount is due in 30 days.
Answer the following statement true (T) or false (F)
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:a.The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. b.Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. c.The ending finished goods inventory equals 30% of the following month's sales. d.The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $4.00 per pound. e.Regarding raw materials purchases, 40% are paid for in
the month of purchase and 60% in the following month. f.The direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 2.6 direct labor-hours. g.Manufacturing overhead is entirely variable and is $8.00 per direct labor-hour. h.The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $70,000. The budgeted required production for February is closest to: A. 17,380 units B. 10,600 units C. 11,020 units D. 14,200 units
The 48th percentile is most closely associated with which of the following z-scores?
a. z = -.05 b. z = .32 c. z = .05 d. z = -.32
How does a firm determine the number of units they must sell to pay for fixed and variable costs?
A) break-even point B) cost structure C) price elasticity D) price sensitivity point E) break-even analysis