Dapper Hat Makers is in the business of designing and producing specialty hats. The material used for derbies costs $4.50 per unit, and Dapper pays each of its two full-time employees $250 per week. If Employee A makes 15 derbies in one week, what is the variable cost per derby? (Round to two decimal places where necessary.)
a. $4.50
b. $15.00
c. $16.67
d. $21.17
A
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On May 15, 2016, January Company acquired a new forklift in exchange for an old forklift that it had acquired in 2006. The old forklift was purchased for $20,000 and had a book value of $5,000. On the date of the exchange, the old forklift had a market value of $6,000. In addition, Retread paid $18,000 cash for the new forklift, which had a list price of $25,000. It is expected that future cash
flows will not change. At what amount should Retread record the new forklift for financial accounting purposes? A) $23,000 B) $24,000 C) $20,000 D) $25,000
A humorous toast about your best friend would be considered a speech to
a. mock. b. inform. c. persuade. d. entertain.
In a surety arrangement, the party who benefits from the bond if the bonded party fails to perform is the
A) principal. B) obligee. C) fidelity. D) surety.
Horizontal analysis:
A) Is a method used to evaluate changes in financial data across time. B) Is also called vertical analysis. C) Is the presentation of financial ratios. D) Is a tool used to evaluate financial statement items relative to industry statistics. E) Evaluates financial data across industries.