Alexander Consumer Products has a small car division that operates as a profit center
Below is a partially completed responsibility report for the first quarter.
Responsibility Report
Actual Flexible
Budget Flexible
Budget Variance U/F Percentage Variance U/F
Sales
Revenue $688,000 $703,000
Variable
Expenses 309,000 320,000
Contribution
Margin 379,000 383,000
Traceable
Fixed
Expenses 371,000 368,000
Division
Margin $8,000 $15,000
Compute the percentage variance for the flexible budget variance for traceable fixed expenses. (Round your answer to two decimal places.)
A) 0.82% F
B) 0.82% U
C) 1.04% U
D) 1.04% F
B .B) Calculation of percentage variances of traceable fixed expenses:
Actual Flexible
Budget Flexible
Budget
Variance U/F Percentage Variance U/F
Traceable Fixed
Expenses $371,000 $368,000 $3,000 U 0.82% U
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After the December 31, 2019 adjusting journal entries have been posted, Sinclair Enterprises has the following account balances (all accounts have normal balances):
What is the net realizable as of December 21, 2019?
A) $158,700
B) $146,000
C) $141,300
D) $149,300
Under the Bankruptcy Code, exemptions are only available to ________.
A. corporations B. nonprofit organizations C. individual debtors D. loan associations
The easiest method of determining the advertising budget is the competitive budget method
Indicate whether the statement is true or false
The primary function of marketing and the entire organization, in a broader context, is to ________.
A. focus on short-term benefits B. offer highly customized products C. increase employee turnover D. eliminate barriers to market entry E. deliver value to the customer