Alerts are transaction based and are sent only if the transaction is committed.
Answer the following statement true (T) or false (F)
True
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Because of its relationship to dividends and market price, which ratio is important to investors?
a. current ratio b. debt-to-equity ratio c. price/earnings ratio d. asset turnover ratio
[The following information applies to the questions displayed below.] Red and White Company reported the following monthly data:Units produced 2,000unitsSales price$25per unitDirect materials$1per unitDirect labor$2per unitVariable overhead$3per unitFixed overhead$8,000in totalWhat is Red and White's net income under variable costing if 980 units are sold and operating expenses are $12,000?
A. $(2,000) B. $10,620 C. $(1,380) D. $2,700 E. $6,620
Wind Fall, a manufacturer of leaf blowers, began operations this year. During this year, the company produced 10,000 leaf blowers and sold 8,500. At year-end, the company reported the following income statement using absorption costing:Sales (8,500 × $45)$382,500 Cost of goods sold (8,500 × $20) 170,000 Gross margin$212,500 Selling and administrative expenses 60,000 Net income$152,500 Production costs per leaf blower total $20, which consists of $16 in variable production costs and $4 in fixed production costs (based on the 10,000 units produced). Fifteen percent of total selling and administrative expenses are variable. Compute net income under variable costing.
A. $237,500 B. $206,500 C. $246,500 D. $158,500 E. $146,500
Common law as a source of law for contracts:
A) Comes exclusively from state law. B) Comes primarily from state law. C) Comes equally from state and federal law. D) Comes primarily from federal law. E) Comes exclusively from federal law.