Chef Susan has developed a great new recipe for homemade ice cream that she serves at her restaurant. She would like to keep the recipe secret and prevent anyone else from using it. What four areas should a trade secret program cover?
A trade secret program should cover the following four areas: (1) notification, (2) identification, (3) security, and (4) exit interviews.
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A company had the following purchases and sales during its first year of operations: PurchasesSalesJanuary:12 units at $1506 unitsFebruary:22 units at $1555 unitsMay:17 units at $1609 unitsSeptember:14 units at $1658 unitsNovember:12 units at $17015 unitsOn December 31, there were 34 units remaining in ending inventory. Using the perpetual LIFO inventory costing method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
A. $4528. B. $4773. C. $5310. D. $4114. E. $7280.
The Engine Division of Magnificent Motor Corporation uses 5,000 carburetors per month in its production of automotive engines. It presently buys all of the carburetors it needs from two outside suppliers at an average cost of $100 . The Carburetor Division of Magnificent Motor Corporation manufactures the exact type of carburetor that the Engine Division requires. The Carburetor Division is
presently operating at its capacity of 15,000 units per month and sells all of its output to a foreign car manufacturer at $106 per unit. Its cost structure (on 15,000 units) is: Variable production costs $70 Variable selling costs 10 All fixed costs 10 Assume that the Carburetor Division would not incur any variable selling costs on units that are transferred internally. Refer to Magnificent Motor Corporation. What is the maximum of the transfer price range for a transfer between the two divisions? a. $106 b. $100 c. $90 d. $70
Cash flows from interest received on loans are reported in the statement of cash flows as part of:
A. This is not reported in the statement of cash flows. B. Noncash activities. C. Financing activities. D. Investing activities. E. Operating activities.
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