KLM Corporation's quick assets are $6,095,000, its current assets are $13,245,000 and its current liabilities are $8,127,000. Its acid-test ratio equals:
A. 0.61.
B. 1.33.
C. 0.46.
D. 2.38.
E. 0.75.
Answer: E
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Generalized audit software packages perform all of the following tasks except
a. recalculate data fields b. compare files and identify differences c. stratify statistical samples d. analyze results and form opinions
After a trip to the Eiffel Tower Mrs. Golden and her daughter traveled by train to Germany
What will be an ideal response?
Swaps may be used to
A. protect against transaction and translation risks and to raise or transfer capital. B. acquire valuable local resources. C. establish international experience in the finance function. D. level out human resource issues.
Luchini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:a.The budgeted selling price per unit is $111. Budgeted unit sales for April, May, June, and July are 7,100, 10,100, 13,300, and 14,000 units, respectively. All sales are on credit. b.Regarding credit sales, 40% are collected in the month of the sale and 60% in the following month. c.The ending finished goods inventory equals 10% of the following month's sales. d.The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $5.00 per pound. e.Regarding raw materials purchases, 40% are paid for in the month
of purchase and 60% in the following month. f.The direct labor wage rate is $18.00 per hour. Each unit of finished goods requires 2.9 direct labor-hours. g.Variable manufacturing overhead is $7.00 per direct labor-hour. Fixed manufacturing overhead is zero. If 66,850 pounds of raw materials are required for production in June, then the budgeted raw material purchases for May is closest to: A. 87,785 pounds B. 56,525 pounds C. 52,100 pounds D. 72,155 pounds