Neef Corporation has provided the following data for its two most recent years of operation: Selling price per unit$84Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$12Direct labor$5Variable manufacturing overhead$4Fixed manufacturing overhead per year$432,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold$5Fixed selling and administrative expense per year$61,000 Year 1 Year 2Units in beginning inventory0 3,000Units produced12,000 9,000Units sold9,000 10,000Units in ending inventory3,000 2,0000 The net operating income (loss) under variable costing in Year 2 is closest to:
A. $75,000
B. $630,000
C. $580,000
D. $87,000
Answer: D
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If X and Y are mutually exclusive events with P(A) = 0.295, P(B) = 0.32, then P(A|B) =
A. 0.0944. B. 0.6150. C. 1.0000. D. 0.0000.
Ernest has a high paying, low-stress job as a buyer at a warehouse facility. Most people are envious of Ernest, but he is not happy. Ernest would rather work in a park or forest where he could help the environment and preserve nature, because that is more important to him than his high salary. Ernest's longing to work with nature is a ________ need.
A. self-regard B. relatedness C. self-actualization D. responsibility E. control
When a nation that belongs to WTO imposes a tariff or quota on imported products, it is supposed to do so within the guidelines established by GATT. If it does not do so within GATT's guidelines: A) the offending nation may suffer military retaliation by the other GATT members
B) the offending nation may be subject to a proceeding pursuant to the WTO's Dispute Settlement Understanding. C) the offending nation may end up in the World Court being sued for breach of its GATT contract. D) none of the above.
Denny Crane was an agent for Mutual of Florida Insurance, but his agency contract was recently revoked. One of his clients, Shirley Schmidt, has not yet been informed that he no longer represents Mutual of Florida
She drops by his office to deliver a premium payment, which he accepts and deposits into his own account. When Mutual of Florida does not receive Shirley Schmidt's premium, it sends her a cancellation notice. Before receiving her cancellation notice, she suffers a loss and expects Mutual of Florida to pay her claim. What will likely happen in this scenario? A) Mutual of Florida will likely have to pay the claim. B) Mutual of Florida will not have to pay the claim, but Denny Crane likely will. C) Neither Mutual of Florida, nor Denny Crane, will have to pay the claim. D) The claim will be paid by the court, and it will then sue Mutual of Florida.