Unit variable costs vary with changes in productive output, whereas total variable costs remain constant
Indicate whether the statement is true or false
False
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The static budget, at the beginning of the month, for New England Furniture Company follows:
Static budget: Sales volume: 1000 units; Sales price: $71.00 per unit Variable costs: $33.00 per unit; Fixed costs: $36,200 per month Operating income: $1800 Actual results, at the end of the month, follows: Actual results: Sales volume: 960 units; Sales price: $74.00 per unit Variable costs: $35.00 per unit; Fixed costs: $35,000 per month Operating income: $2440 Calculate the sales volume variance for fixed costs. A) $1920 U B) $1200 F C) $1520 U D) $0
On January 1, a company issues 8%, 5-year, $300,000 bonds that pay interest semiannually. On the issue date, the annual market rate of interest is 6%. The following information is taken from present value tables: Present value of an annuity for 10 periods at 3%8.5302Present value of an annuity for 10 periods at 4%8.1109Present value of 1 due in 10 periods at 3%0.7441Present value of 1 due in 10 periods at 4%0.6756What is the issue (selling) price of the bond?
A. $300,010 B. $402,362 C. $325,592 D. $420,000 E. $308,107
A business invitee is legally entitled to higher duty of protection by the possessor of premises (usually the owner) than is a social licensee
Indicate whether the statement is true or false
The probability Pete will catch fish when he goes fishing is .8 . Pete is going fishing 3 days next week. The variance of the number of days Pete will catch fish is _____
a. .16 b. .48 c. .8 d. 2.4