Which of the following would not decrease owner's equity?
a. sales;
b. withdrawals of cash by the owner; c. more expenses than revenues
during the period; d. expenses incurred; e. none of these.
A
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The five original members of the Central American Common Market (CACM) are El Salvador, Honduras, Guatemala, Panama, and Cost Rica
Indicate whether the statement is true or false
How do courts deal with the situation in which an offeror tries to revoke an offer for a unilateral contract after the offeree has begun acceptance, but he has not completely accepted the offer?
What will be an ideal response?
Magpie Corporation uses the total cost concept of product pricing. Below is cost information for the production and sale of 60,000 units of its sole product. Magpie desires a profit equal to a 25% rate of return on invested assets of $700,000. Fixed factory overhead cost $38,500 Fixed selling and administrative costs 7,500 Variable direct materials cost per unit 4.60 Variable direct labor cost
per unit 1.88 Variable factory overhead cost per unit 1.13 Variable selling and administrative cost per unit 4.50 The markup percentage on total cost for the company's product is: A) 21.0% B) 22.7% C) 15.8% D) 24.0%
Forrester Company is considering buying new equipment that would increase monthly fixed costs from $120,000 to $150,000 and would decrease the current variable costs of $70 by $10 per unit. The selling price of $100 is not expected to change. Forrester's current break-even sales are $400,000 and current break-even units are 4,000. If Forrester purchases this new equipment, the revised contribution margin ratio would be:
A. 70%. B. 10%. C. 30%. D. 60%. E. 40%.