Evidence-based management is originally from the field of ______.
A. management
B. psychology
C. medicine
D. science
C. medicine
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Firenze Company's fixed budget for the first quarter of the calendar year appears below. Prepare flexible budgets that show variable costs per unit, fixed costs and two different flexible budgets for sales volumes of 22,000 and 24,000.Sales (20,000 units)………………………………?$800,000Cost of goods sold:?? Direct materials………………………………$160,000? Direct labor……………………………………150,000? Variable overhead……………………………100,000? Fixed overhead………………………………… 120,000 530,000 Gross profit……………………………………?$ 270,000Selling expenses: ?? Sales commissions (all variable)……………… 40,000? Advertising (all
fixed)…………………………50,000?General and administrative expenses: ?? Salaries (all fixed)……………………………80,000? Rent (all fixed)…………………………………30,000? Depreciation (all fixed)……………………… 20,000 220,000Net income from operations……………………?$ 50,000 What will be an ideal response?
Which of the following is true?
a. Both the employer and the employee pay an unemployment tax; b. The cost of the unemployment tax is calculated on all gross earnings; c. In most states, the percentage used to calculate the unemployment tax is higher for the state's share than for the federal government's share; d. All payroll tax deposits must be made electronically; e. All of these statements are true.
Cost of goods purchased is calculated as:
a. Cost of goods sold ? Beginning inventory + Ending inventory. b. Cost of goods purchased + Beginning inventory ? Ending inventory. c. Cost of goods purchased + Beginning accounts payable ? Ending accounts payable. d. Cost of goods sold ? Beginning accounts payable + Ending accounts payable.
The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense reports the following selected amounts: Accounts receivable$440,000?DebitAllowance for Doubtful Accounts 1300?CreditNet Sales 2,150,000?CreditAll sales are made on credit. Based on past experience, the company estimates 3.0% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $6450; credit Allowance for Doubtful Accounts $6450. B. Debit Bad Debts Expense $13,200; credit Allowance for Doubtful Accounts $13,200. C. Debit Bad Debts Expense $14,500; credit Allowance for Doubtful Accounts $14,500. D. Debit Bad Debts Expense $11,900; credit Allowance for Doubtful Accounts $11,900. E. Debit Bad Debts Expense $16,450; credit Allowance for Doubtful Accounts $16,450.