A major disadvantage of the high-low method of analyzing cost behavior is:
a. It bases its solution on only two possibly extreme observations, rather than all of the data points.
b. It results in its analyzed cost being treated as either fixed or variable, based on which type of behavior it more closely resembles.
c. Two persons could draw different lines through the data points.
d. It enables non-representative points, called outliers, to be identified.
a
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Mike is a bartender. Every day he pockets $20 or so by not ringing up some sales when paid in cash. Mike, because he is stealing from his employer while on the job, is guilty of embezzlement.
Answer the following statement true (T) or false (F)
What is the cost per box of dry fruits if Crabapples sold 4000 boxes of dry fruit during the year? (Round your answer to the nearest cent.)
Crabapples, Inc. purchases and sells boxes of dried fruit. The following information summarizes its
operating activities for the year:
A) $8.00
B) $42.00
C) $32.13
D) $24.13
When dealing with the number of occurrences of an event over a specified interval of time or space, the appropriate probability distribution is a _____ distribution.
A. Binomial B. Poisson C. Normal D. Hypergeometric probability
A $140 petty cash fund has cash of $18 and receipts of $120. The journal entry to replenish the account would include a credit to
A) Cash for $120. B) Cash Over and Short for $2. C) Petty Cash for $122. D) Cash for $122.