Float is best described by which of the below?
A) the time that is required to receive payment on a zero balance account
B) the term used to describe payment for the purchase of raw materials that are needed to
complete production of a luxury liner
C) investing excess cash balances
D) the time required for a deposited check to clear through the commercial banking system and
be available for payment
D
You might also like to view...
Cultural branding is essential for small firms, but ineffective for large companies
Indicate whether the statement is true or false
In a marketing plan, the ________ state what the marketing function must accomplish to achieve overall business objectives
A) situation analyses B) strategic plans C) marketing objectives D) market development strategies E) marketing controls
Which ratio measures the length of time between the purchase of inventory and the eventual collection of cash from sales?
A) Quick ratio B) Cash-to-cash operating cycle ratio C) Accounts receivable turnover ratio D) Inventory turnover ratio
Gage Company reports the following information for its first year of operations:Units produced this year 7,000unitsUnits sold this year 6,500unitsDirect materials$22per unitDirect labor$30per unitVariable overhead ?in totalFixed overhead$56,000in totalIf the company's cost per unit of finished goods using variable costing is $63, what is total variable overhead?
A. $19,500 B. $21,000 C. $77,000 D. $16,590 E. $71,500