Based on past experience, Moss Company has developed the following budget formula for estimating its shipping expenses:Shipping costs = $16,000 + ($0.50 × lbs. shipped). The company's shipments average 12 lbs. per shipment.The planned activity and actual activity regarding orders and shipments for the current month are given in the following schedule: PlanActualSales orders 800 780 Shipments 800 820 Units shipped 8,000 9,000 Sales$120,000 $144,000 Total pounds shipped 9,600 12,300 The actual shipping costs for the month amounted to $21,000. The appropriate monthly flexible budget allowance for shipping costs for the purpose of performance evaluation would be: (CMA adapted)
A. $22,150.
B. $20,680.
C. $20,920.
D. $20,800.
Answer: A
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Weaver Corporation was organized on January 1 . 2013 . at which date it issued 100,000 shares of $10 par common stock at $15 per share. During the period January 1 . 2013 . through December 31 . 2015, Weaver reported net income of $450,000 and paid cash dividends of $230,000 . On January 10, 2015, Weaver purchased 6,000 shares of its common stock at $12 per share. On December 31 . 2015, Weaver
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Answer the following statement true (T) or false (F)
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