Perteet Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces and sells 5,000 units, its average costs per unit are as follows: AverageCost per UnitDirect materials$6.70 Direct labor$3.25 Variable manufacturing overhead$1.60 Fixed manufacturing overhead$3.00 Fixed selling expense$0.70 Fixed administrative expense$0.40 Sales commissions$0.50 Variable administrative expense$0.55 If 4,000 units are produced, the total amount of manufacturing overhead cost is closest to:
A. $28,000
B. $14,800
C. $21,400
D. $18,100
Answer: C
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Rosco, of Salem, New York, purchased 2,500 pounds of spaghetti from the Arco Corporation of Buffalo, New York, terms FOB Buffalo. Several boxes of spaghetti were lost in transit. Which statement concerning responsibility for the loss is correct?
a. The Arco Corporation will not suffer the loss because risk of loss passed to Rosco when the agreement was made. b. Rosco will suffer the loss because risk of loss passed to him when the goods were delivered to the common carrier at Buffalo. c. The Arco Corporation will suffer the loss because risk of loss did not pass to Rosco until the goods arrived at Salem. d. Rosco will not suffer the loss because risk of loss did not pass to him until the goods were delivered to his door.
The Clorox Company marketed a new product called Clorox Oxygen Action multipurpose stain reliever. This is an example of a brand extension.
Answer the following statement true (T) or false (F)
A reversing entry is ________
A) a journal entry used to close the temporary accounts after preparation of financial statements B) a special journal entry used to make the adjustments that took place after preparing the trial balance C) a special journal entry that eases the burden of accounting for transactions in the next period D) a journal entry prepared at the end of an accounting period to match assets with liabilities
A team with a high adaptive capacity brings what capability to their organization?
A) Knowledge capacity B) Ability to change or shift their strategy in the face of upheaval C) Team's capacity to assimilate new knowledge D) Team's capacity to apply new information and knowledge