The difference between mortgages payable and notes payable is that notes payable are always secured by specific assets
Indicate whether the statement is true or false
FALSE
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Interim reports are usually audited
Indicate whether the statement is true or false
Regular, performance-related discussions with employees usually last
a. At least one hour b. At least forty-five minutes c. Not more than ten or fifteen minutes d. Five minutes
Certosimo Corporation has provided the following contribution format income statement. All questions concern situations that are within the relevant range.?Sales (7,000 units)$350,000?Variable expenses245,000?Contribution margin105,000?Fixed expenses97,500?Net operating income$7,500Required:a. If sales increase to 7,040 units, what would be the estimated increase in net operating income?b. If sales decline to 6,900 units, what would be the estimated net operating income?
What will be an ideal response?
Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its average costs per unit are as follows: AverageCost per UnitDirect materials$4.55?Direct labor$4.10?Variable manufacturing overhead$1.35?Fixed manufacturing overhead$7.00?Fixed selling expense$3.15?Fixed administrative expense$1.60?Sales commissions$0.40?Variable administrative expense$0.35? If the selling price is $21.00 per unit, the contribution margin per unit sold is closest to:
A. $4.00 B. $10.25 C. ($1.50) D. $12.35