Answer the following statements true (T) or false (F)
1. The budgeted multi-step income statements of both manufacturing and merchandising companies
include the calculation of gross profit.
2. Use of advanced technology makes it more cost effective for managers to conduct sensitivity analysis.
3. Sensitivity analysis is a what-if technique.
4. Budgeting software is often designed as a component of the company's Enterprise Resource Planning
(ERP) system.
1. TRUE
2. TRUE
3. TRUE
4. TRUE
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What is the cost of the land, based upon the following data? Land purchase price $178,000 Broker's commission 15,000 Payment for the demolition and removal of existing building 5,000 Cash received from the sale of materials salvaged from the demolished building 2,000
A blueprint slide should:
a. look like the body slides b. avoid the distraction of checkmarks or other indicators c. both of the above d. none of the above
It is not a violation of United States law for a domestic company to pay money to a foreign governmental official in order to obtain a contract with the foreign government if this type of "commission" is commonly paid in that foreign country
a. True b. False Indicate whether the statement is true or false
A company purchased a weaving machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. It is estimated that the machine could produce 75,000 bolts of woven fabric over its useful life. In the first year, 15,000 bolts were produced. In the second year, production increased to 19,000 units. Using the units-of-production method, what is the amount of depreciation expense that should be recorded for the second year?
A. $81,600. B. $45,600. C. $48,133. D. $23,750. E. $22,500.