Zhang Industries budgets production of 300 units in June and 310 units in July. Each finished unit requires 4 pounds (lbs.) of raw material K, which costs $5 per pound. Each month's ending inventory of raw materials should be 30% of the following month's budgeted production. The June 1 raw materials inventory has 360 pounds of raw material K. Compute the budgeted purchases for raw material K in pounds for June.
A. 1,200 lbs.
B. 1,220 lbs.
C. 880 lbs.
D. 1,212 lbs.
E. 1,240 lbs.
Answer: D
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Interim financial statements refer to financial reports:
A. Where the adjustment process is used to assign revenues to the periods in which they are earned and to match expenses with revenues. B. That cover less than one year, usually spanning one, three, or six-month periods. C. That show the assets above the liabilities and the liabilities above the equity. D. That are prepared before any adjustments have been recorded. E. Where revenues are reported on the income statement when cash is received and expenses are reported when cash is paid.
Dingo Boot Company uses the direct method to prepare its statement of cash flows. The company had the following cash flows during 2014: Cash receipts from the issuance of common stock ......... $400,000 Cash receipts from customers ............................ 200,000 Cash receipts from dividends on long-term investments ... 30,000 Cash receipts from repayment of loan made to another company
............................................... 220,000 Cash payments for wages and other operating expenses .... 120,000 Cash payments for insurance ............................. 10,000 Cash payments for dividends ............................. 20,000 Cash payments for taxes ................................. 40,000 Cash payment to purchase land ........................... 80,000 See information regarding Dingo Boot Company above. The net cash provided by (used in) operating activities is a. $60,000. b. $40,000. c. $30,000. d. $(20,000).
Internal communications is likely to be an in-demand skill because so many organizations have broken promises made to their employees
Indicate whether the statement is true or false
A major problem associated with increasing the number of store entrances is the _____
a. creation of dead areas b. closeness to parking facilities c. vehicular traffic control d. pilferage control for employees, customers, and vendors