Windstar Corp purchased supplies at a cost of $6,000 during the year. At December 31, supplies on hand are $1,400 . Supplies expense for the year was $5,200 . How much were supplies on hand at January 1?
a. $ 2,200
b. $ 11,200
c. $ 1,400
d. $ 600
d
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Which of the following statements is true of fixed and variable costs?
A) Both costs are constant when considered on a total basis. B) Variable costs are constant in total, and fixed costs are constant per unit. C) Both costs are constant when considered on a per unit basis. D) Fixed costs are constant in total, and variable costs are constant per unit.
A firm with a conservative financial leverage ratio has _____
a. a lot of debt relative to assets b. little debt relative to assets c. no debt d. high return on net worth
Based on Table M1-1, what should be Jason's second choice?
A) MSU B) BC C) PC D) UM E) None of the above
On the basis of your answer to question 1, suggest some actions the company might have taken to help it survive.
What will be an ideal response?