_________ are the principles and standards that guide our behavior toward other people.
Fill in the blank(s) with the appropriate word(s).
Ethics
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A used machine with a purchase price of $77,000, requiring an overhaul costing $8,000, installation costs of $5,000,and special acquisition fees of $3,000, would have a cost basis of
a. $82,000 b. $90,000 c. $85,000 d. $93,000
Singh Enterprises manufactures picture frames. Its production operations are divided into two departments — Assembly and Finishing. The company uses a process costing system. Singh incurred the following costs during the year to produce 6000 picture frames:
If Singh can only sell 5100 picture frames during the year, what will be the cost per unit of the picture frames produced? (Round your answer to the nearest cent.)
A) $2.34
B) $1.99
C) $1.62
D) $1.90
__________focuses on maximizing the surplus of income over costs
Fill in the blanks with correct word.
Which of the following is not an advantage of after-tax income as a performance measure?
A. It is financial income computed differently from the income of the firm. B. It reflects the results of decisions under the division manager's control. C. It makes comparison of divisions easy because they use the same measure, dollars of income. D. It summarizes the results of decisions affecting revenues and costs.