The profit margin and asset turnover ratios are important measures, but they have a limitation. Describe these limitations and discuss the ratio that can be used to overcome these deficiencies
The profit margin ratio does not consider the assets necessary to produce income, and the asset turnover ratio does not take into account the amount of income produced. The return on assets ratio overcomes these deficiencies by relating net income to average total assets.
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Underfoot Products uses standard costing. The following information about overhead was generated during May: Standard variable overhead rate $2 per machine hour Standard fixed overhead rate $1 per machine hour Actual variable overhead costs $390,000 Actual fixed overhead costs $175,000 Budgeted fixed overhead costs $190,000 Standard machine hours per unit produced 10 Good units produced 18,000
Actual machine hours 195000 Compute the variable overhead efficiency variance. a. $50000 (F) b. $50000 (U) c. $40000 (F) d. $30000 (U)
If a company purchases equipment costing $4,500 on credit, the effect on the accounting equation would be:
A. One asset increases $4,500 and another asset decreases $4,500. B. Assets increase $4,500 and liabilities decrease $4,500. C. Assets increase $4,500 and liabilities increase $4,500. D. Equity increases $4,500 and liabilities decrease $4,500. E. Equity decreases $4,500 and liabilities increase $4,500.
Under which of the following circumstances is a warrantless search permitted?
A. if there is no probable cause B. if the suspect has been previously convicted C. if evidence is not in plain view D. if evidence is likely to be destroyed
The goal of the maximal flow problem is to maximize the amount of flow of items from an origin to a destination
Indicate whether this statement is true or false.