In its initial year of operation, Montoya Manufacturing started and completed 4,000 identical widgets and had 1,000 widgets that were 40% complete in work-in-process at the end of the year. Total production costs for the year were $55,000. What is the cost per equivalent unit?
A) $12.50
B) $11.00
C) $11.96
D) $13.75
A
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Meta Inc pays $18,000 to buy stock in another company and an additional $350 in commissions. Three months later, Meta sells the stock for $19,000 . At the time of sale, Meta will recognize a:
a. A $650 loss b. A $1,000 gain c. A $350 loss d. A $650 gain
Leah Co reported $7,000 of net income for 2016. The following errors were then discovered: · Ending 2015 accrued expense was understated by $800. · Ending 2016 unearned revenue was overstated by $75. · Ending 2015 unearned revenue was overstated by $380. Ignoring income taxes, what is the correct amount of 2016 net income?
A) $6,505 B) $5,895 C) $7,495 D) $6,655
_______ inventory is used to stockpile inventory to protect against potential price increases. Ans: Hedge
What will be an ideal response?
Answer the following statements true (T) or false (F)
1. If employees decide to join together to complain to an employer, but they do not legally form a union, the employer is under no obligation to negotiate with them. 2. Most U.S. unions are organized through secret ballot elections administered by the National Labor Relations Board. 3. A certification election determines whether employees will give a union permission to act as their representative in negotiations with their employer to determine their wages, hours, and working conditions. 4. Employer-initiated unionization drives, though rare, are legal. 5. When the Teamsters Union, one of the largest unions representing truck drivers and other cargo handlers, aggressively tries to organize semi-drivers who are nonunion, their campaign would be best described as strategic, rather than opportunistic, in nature.