To compute a product's profit or product margin, the product's sales and direct costs are needed in addition to the overhead costs computed in an activity-based costing system.
Answer the following statement true (T) or false (F)
True
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The Frozen Products Department of GoodThings, Inc shows net sales of $465,000, cost of goods sold of $173,000, and operating expenses of $62,000 . What is the gross profit for the department?
a. $403,000; b. $230,000; c. $292,000; d. $111,000; e. none of these
Which of the following is the most common target regarding asset misappropriation?
a. inventory b. cash c. equipment d. valuable information
XD7, Inc. has 50,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock has a $1.00 par value. The preferred stock has a $100 par value, a 5% dividend rate, and is noncumulative. On October 31, 2018, the company declares the annual preferred dividend and dividends of $0.25 per share for common. Prepare the journal entry for the declaration of dividends. Omit explanation.
What will be an ideal response?
Who is a prominent proponent of scenario planning?
a. Oliver Freeman b. Carl Perkins c. Gene Vincent d. Vince Taylor