A plumber starts the day having 1,250 feet of copper tubing on his truck. During the morning he uses pieces 123, 86, 215, and 396 feet long. At lunch he goes to a plumbing supply house and buys another 850 feet of tubing. During the afternoon he uses pieces of 513, 426, and 92 feet of tubing. How many feet of copper tubing are still on the truck at the end of the day?
249 feet
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At the end of an accounting period, the balance in the Finished Goods Inventory account is the sum of costs of products completed and the cost of goods sold as of that date
Indicate whether the statement is true or false
Raffles Company routinely bids on construction jobs. Raffles first determines the budgeted product cost of the job and then applies a markup of 50%. If a bid of $15,000 is submitted for a new job, which of the following is true?
A) budgeted product cost is $15,000 B) $5,000 is pure profit C) all costs pertaining to the job total $15,000 D) $5,000 includes fixed overhead, selling and administrative expense, and profit E) $5,000 includes selling and administrative expense, and profit
________ franchising is a form of licensing in which franchisees in the targeted countries are allowed to use the franchisor's name in exchange for a percentage of the gross profits
A) Profit-sharing B) Targeted C) International D) Multinational
A policy that reimburses you for losses at actual cash value will pay you an amount equal to
A) replacement cost. B) replacement cost plus depreciation. C) replacement cost minus depreciation. D) depreciation.