Which of the following do not serve as a source of data while preparing a cash budget?
A) A sales budget
B) Collection records
C) A budgeted balance sheet
D) A budgeted income statement
C
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Orangewood Industries bought a new cash register for $7,500. Orangewood originally planned to use the cash register for 4 years and then sell it for $600. After 4 years, Orangewood had recorded $6,900 of depreciation. If the company continues to use the cash register, still planning to sell it eventually for $600, then Orangewood should record:
A. $1,725 of additional depreciation. B. the removal of the cash register from its books because it is fully depreciated. C. no additional depreciation. D. $600 of additional depreciation.
Lemon Yellow Company produces children's clothing that requires two processes, cutting and sewing, to complete. The company is concerned about one product, a hooded jacket, which hasn't been selling as well as it had in past years. Information related to the 20,000 jackets produced annually is shown in the following table:Direct materials$26,000Direct labor? Cutting Department (200 DLH x $20 per DLH)$4,000 Sewing Department (2,000 DLH x $22 per DLH)$44,000Machine hours? Cutting Department160 MH Sewing Department 1,500 MHLemon Yellow's total expected overhead costs and related overhead data are shown below. The company uses departmental overhead rates based on direct labor hours in the Cutting Department and machine hours in the Sewing Department.?Cutting
DepartmentSewingDepartmentDirect labor hours16,000 DLH175,000 DLHMachine hours3,200 MH30,000 MHManufacturing overhead costs $480,000$240,000Assume this jacket currently sells for $10. How much profit does the company make per jacket? What will be an ideal response?
Although in recent years certain developed countries, such as the United States, have made significant progress in controlling pollutants, this is not the case worldwide
Indicate whether the statement is true or false
TopKnotch Mfg. Co. has a production cost of $280. It sells its product to a wholesaler for $400. The wholesaler then sells the item to retailers for $500 and the retailers sell the item for $1,000. Which of the following is true about this markup chain?
A. The retailers' markup is 100 percent. B. The wholesaler's markup is 25 percent. C. The manufacturer is taking a markup of 30 percent. D. None of these answers is correct.