Caplico Company has prepared the following sales budget
Month Budgeted Sales
March $400,000
April 207,000
May 241,000
June 248,000
Cost of goods sold is budgeted at 40% of sales, and the inventory at the end of February was $34,000. Desired inventory levels at the end of each month are 10% of the next month's cost of goods sold. What is the desired beginning inventory on June 1?
A) $24,800
B) $9,640
C) $96,400
D) $9,920
D .D)
Calculation of beginning inventory on June 1:
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Unlimited liability refers to
A) a claim to the partners' personal assets by creditors if the partnership cannot pay its debts. B) the ability of any partner to bind the partnership to a business agreement as long as he or she acts within the scope of the company's normal operations. C) co-ownership of partnership property. D) the method of income distribution.
The attorney-client privilege can be raised ________.
A. only by the defendant B. only by the attorney C. by either the defendant or the attorney D. only jointly by both the defendant and the attorney
Hayes Inc. provided the following information for the current year:Beginning inventory 100unitsUnits produced 750unitsUnits sold 800unitsSelling price$150/unitDirect materials$35/unitDirect labor$16/unitVariable manufacturing overhead$15/unitFixed manufacturing overhead$24,000/yearVariable selling/administrative costs$8/unitFixed selling/administrative costs$15,500/yearWhat is the unit product cost for the year using variable costing?
A. $98 B. $95 C. $66 D. $74 E. $96
Relocating to a nonunion site (e.g., in the south or in another country), by subcontracting or by working toward union decertification is a change strategy for unionized companies known as:
A. Fostering B. Escape C. Forcing D. Avoiding