On April 24 of the current year, The Memphis Pecan Company experienced a tornado that destroyed the company's entire inventory. At the beginning of April, the company reported beginning inventory of $228,350. Inventory purchased during April (until the date of the tornado) was $199,400. Sales for the month of April through April 24 were $644,100. Assuming the company's typical gross profit ratio is 50%, estimate the amount of inventory destroyed in the tornado.
A. $322,050
B. $213,875
C. $105,700
D. $158,588
E. $216,350
Answer: C
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McGill University's Prof. Mintzberg, writing about leaders and strategy, had observations which
A. "projected the past into the future." B. said strategic control systems fail to detect changes in consumer demand. C. encourage rigid planning and goal-setting processes. D. cast doubt on the value of rigid planning and goal-setting processes.
Bendas Company, a manufacturer of small appliances, had the following activities, allocated costs, and allocation bases
Activities Allocated Costs Allocation Base Account inquiry (hours) $71,000 2,800 hours Account billing (lines) $40,000 16,000 lines Account verification (accounts) $12,000 21,000 accounts Correspondence (letters) $11,000 1,200 letters The above activities are carried out at two of its regional offices. Activities Northeast Office Midwest Office Account inquiry (hours) 120 hours 250 hours Account billing (lines) 16,000 lines 9,000 lines Account verification (accounts) 1,100 accounts 650 accounts Correspondence (letters) 80 letters 150 letters How much of the account verification costs will be assigned to the Northeast Office? (Round any intermediate calculations to the nearest cent and your final answer to the nearest dollar.) A) $371 B) $86 C) $627 D) $68
Which of the following statements is CORRECT?
A. The constant growth model is often appropriate for evaluating start-up companies that do not have a stable history of growth but are expected to reach stable growth within the next few years. B. If a stock has a required rate of return rs = 12% and its dividend is expected to grow at a constant rate of 5%, then the stock's dividend yield is also 5%. C. The stock valuation model, P0 = D1/(rs - g), can be used to value firms whose dividends are expected to decline at a constant rate, i.e., to grow at a negative rate. D. The price of a stock is the present value of all expected future dividends, discounted at the dividend growth rate. E. The constant growth model cannot be used for a zero growth stock, wherein the dividend is expected to remain constant over time.
The probability of a failure in a binomial experiment is denoted by ____________________
Fill in the blank(s) with correct word