The goal of selling strategies for mature and well-established products is to:
A) change buying habits
B) build desire for the product
C) maintain customer relationships
D) sell more units at a lower price
E) keep sales on an even level
C
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Island Promotional Services uses a job order system for costing and billing promotional services for dance and ballet performances. Island has four public relations specialists and office staff. At the beginning of the year, Island estimated the total cost of salaries and benefits for the public relations specialists at $684,000 and a total of 7600 billable hours for the year. The office and administrative costs were estimated at $418,000. The allocation base for office and administrative costs is billable hours. In June, Island signed a contract for a Russian ballet performance. It negotiated a price of $6800 for its services. When the job was complete, Island's records showed that it had logged 37.0 billable hours. What was the actual total cost of the job for Island?
A) $5365 B) $2035 C) $3330 D) $1295
Which of the following statements is true about successful efforts accounting?
a. It is a depreciation method b. All costs are recorded as assets and then depleted over the resource's useful life. c. The cost of a dry well would be written off immediately as a loss. d. The cost of successful exploration is recorded as an asset and is not written off.
Which of the following statements regarding sales returns and allowances is not true?
A. Sales returns and allowances do not have an impact on gross profit. B. Sales returns and allowances are rarely disclosed in published financial statements. C. A reduction in the selling price because of damaged merchandise is included in sales returns and allowances. D. Sales returns and allowances are recorded in a separate contra-revenue account. E. Sales returns and allowances are closed to the Income Summary account.
On January 1, a company issues bonds dated January 1 with a par value of $200,000. The bonds mature in 3 years. The contract rate is 4%, and interest is paid semiannually on June 30 and December 31. The market rate is 5%. Using the present value factors below, the issue (selling) price of the bonds is: n= i= Present Value of an Annuity(series of payments) Present value of 1(single sum)3 4.0% 2.7751 0.88906 2.0% 5.6014 0.88803 5.0% 2.7232 0.86386 2.5% 5.5081 0.8623
A. $205,607. B. $172,460. C. $194,492. D. $22,032. E. $200,000.