Baughn Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$115 Units in beginning inventory 0Units produced 6,600Units sold 6,400Units in ending inventory 200 Variable costs per unit: Direct materials$26Direct labor$46Variable manufacturing overhead$7Variable selling and administrative expense$9Fixed costs: Fixed manufacturing overhead$105,600Fixed selling and administrative expense$51,200What is the unit product cost for the month under variable costing?
A. $79 per unit
B. $88 per unit
C. $104 per unit
D. $95 per unit
Answer: A
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Ending inventory valued under the FIFO method will be the same regardless of whether the periodic system or the perpetual system is used
a. True b. False Indicate whether the statement is true or false
Which of the following is the best example of a desirable product?
A) breakfast cereal B) cigarettes C) effective but foul-tasting medicine D) junk food E) dental insurance
Firms sometimes acquire debt securities with the intention of holding these securities until maturity. U.S. GAAP and IFRS require firms to measure marketable securities for which firms have an intent and ability to hold to maturity by _____. A firm initially records these debt securities at acquisition cost. This acquisition cost will differ from the maturity value of the debt if the coupon rate
on the bonds differs from the _____. a. the imputed interest method; required market yield on the bonds at the time the firm acquired them b. the straight-line method; required market yield on the bonds at the time the firm acquired them c. the effective interest method; required market yield on the bonds at the time the firm acquired them d. the effective interest method; required market yield on the bonds at the time the bonds were originally issued. e. the straight-line method; required market yield on the bonds at the time the bonds were originally issued.
Answer the following statements true (T) or false (F)
1. In a persuasive request, it is not a good idea to anticipate and answer the possible objections the reader might raise. 2. When contacting a boss by memo or e-mail, strategic writers also should copy their immediate supervisors. 3. While notification and announcement memos are appropriate for groups, requests for action can be directed only to individuals. 4. A political device for internal correspondence is to “copy” in certain people.