Elison Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$111 Units in beginning inventory 0Units produced 7,500Units sold 7,200Units in ending inventory 300 Variable costs per unit: Direct materials$24Direct labor$34Variable manufacturing overhead$1Variable selling and administrative expense$5Fixed costs: Fixed manufacturing overhead$217,500Fixed selling and administrative expense$115,200 What is the net operating income for the month under absorption costing?
A. $(12,000)
B. $14,400
C. $8,700
D. $5,700
Answer: B
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Iconoclastic names:
A) reveal what the company does B) capture the essence of the idea behind the brand C) contain recognizable words or word parts that imply what the company is about D) do not reflect the company's goods or services, but instead something that is unique, different, and memorable
When a corporation has only one class of stock, the stock is called:
A. Common stock. B. Par value stock. C. Preferred stock. D. No-par value stock. E. Stated value stock.
A company can help its cash flows by:
a. purchasing merchandise from suppliers with longer payment terms. b. reducing credit terms for sales. c. reducing its financing period. d. all of these will help a company's cash flows.
Contributions to a Roth IRA: I.are rolled over from a regular IRA in a nontaxable transaction.II.are tax-deductible.III.are not taxed at the time of distributions if the IRA plan has been established for five years and the taxpayer attains age 591/2before withdrawals are made.?
A. Only statement I is correct. B. Only statement II is correct. C. Only statement III is correct. D. Statements I, II, and III are correct.