Salomon Marketing, Inc., a merchandising company, reported sales of $1,555,500 and cost of goods sold of $1,025,100 for December. The company's total variable selling expense was $96,900; its total fixed selling expense was $34,300; its total variable administrative expense was $71,400; and its total fixed administrative expense was $100,100. The cost of goods sold in this company is a variable cost. The contribution margin for December is:
A. $362,100
B. $1,252,800
C. $530,400
D. $227,700
Answer: A
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The personnel involved in the physical control of materials includes all of the following except the:
a. Purchasing agent. b. Receiving clerk. c. Cost accountant. d. Production department supervisor.
Bradley Corporation has three production departments A, B, and C. Bradley Corporation also has two service departments, Administration and Personnel. Administration costs are allocated based on value of assets employed, and Personnel costs are allocated based on number of employees. Assume that Administration provides more service to the other departments than does the Personnel Department. Dept
Direct Costs Employees Asset Value Admin. $900,000 25 $450,000 Personnel 350,000 10 600,000 A 700,000 15 300,000 B 200,000 5 150,000 C 250,000 10 800,000 Refer to Bradley Corporation. Using the step method, what amount of Administration costs is allocated to Personnel (round to the nearest dollar)? a. $72,973 b. $291,892 c. $145,946 d. $389,189
GR8 Fashion, Inc., complains to the Federal Trade Commission (FTC) about an ad broadcast by Hy-Time Clothes Company, GR8's competitor. The FTC investigates and concludes that the ad is deceptive. The FTC's next step is to
A. conduct negotiations between the competitors. B. draft a formal complaint. C. issue a cease-and-desist order. D. permit GR8 to broadcast similarly deceptive counteradvertising.
What happens when you default on a car loan where your Title is held as collateral?
A) You damage your credit history but you keep the car. B) You lose the car and damage your credit history. C) You face liability under the deficiency payments clause. D) Only choices B and C are correct. E) All of the above choices are correct.