Which of the following standard-setting bodies was the first to address translation of foreign-based operations and holdings into U.S. dollars?
a. CAP
b. APB
c. FASB
d. SEC
ANSWER: A
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Sue is very aggressive at her job, and her coworkers complain that she often manipulates them and her boss in order to get ahead. She attempts to direct everything and everyone, regardless of the consequences to others or even the organization itself. Sue is expressing what type of need for power?
A. legitimate B. autonomous C. personal D. organizational E. institutional
In ethical terms, a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on individuals.
Answer the following statement true (T) or false (F)
A company made the following merchandise purchases and sales during the month of May:May 1Purchased380 units at$15 eachMay 5Purchased270 units at$17 eachMay 10Sold400 units at$50 eachMay 20Purchased300 units at$22 eachMay 25Sold400 units at$50 eachThere was no beginning inventory. If the company uses the LIFO periodic inventory method, what would be the cost of the ending inventory?
What will be an ideal response?
Drucker Corporation manufactures and sells one product. In the company's first year of operations, the variable cost consisted solely of direct materials of $84 per unit. The annual fixed costs were $288,000 of direct labor cost, $1,728,000 of fixed manufacturing overhead expense, and $782,000 of fixed selling and administrative expense. The company does not have any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, the company produced 24,000 units and sold 17,000 units. The company's only product is sold for $249 per unit.Required:a. Assume the company uses super-variable costing. Compute the unit product cost for the year.b. Assume the company uses super-variable costing. Prepare an income statement for the year.
What will be an ideal response?