Korsak Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per MonthVariable Element per Customer ServedRevenue $5,500Employee salaries and wages$43,700 $1,100Travel expenses $500Other expenses$43,200 ?The planning budget for October was based on serving 23 customers, but a total of 19 customers were actually served during October.?The activity variance for net operating income for October would have been closest to:
A. $15,600 F
B. $12,500 F
C. $12,500 U
D. $15,600 U
Answer: D
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Ibarra Carpet traded cleaning equipment with a cost of $27,000 and accumulated depreciation of $5,250 for new equipment with a fair market value of $14,500 . Assuming the exchange lacks commercial substance, Ibarra should record the new equipment at
a. $14,750. b. $13,750. c. $14,500. d. $7,500.
Stock not assigned a value per share by the corporate charter, allowing it to be issued at any price, is called ________.
What will be an ideal response?
Pluto, Inc. sells tickets in advance for its weekly productions and records the proceeds as Unearned Revenue. At the end of each month, the company makes an adjusting entry to account for the tickets used during the month (ticket revenue) On March 1, the Unearned Revenue account had a credit balance of $5,000. During March, it sold 600 tickets at $40 each, and 550 tickets were used during the month. What is the balance in Unearned Revenue at the end of March?
A) credit balance of $7,000 B) debit balance of $5,000 C) credit balance of $5,000 D) debit balance of $7,000
Efforts to design high-performance work systems in line with vertical fit issues, such as competitive challenges and company values, help in
A. creating empowerment in workers. B. focusing the design on strategic priorities. C. improving horizontal fit accordingly. D. making the implementation stage easier.