Comparing the master budget with the flexible budget creates a:
A. quantity variance.
B. spending variance.
C. volume variance.
D. price variance.
Answer: C
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Morgan Company reported the following information for the year ended December 31, 2015: Net income $ 600,000 Preferred dividends declared and paid 60,000 Common dividends declared and paid 90,000 Average common shares outstanding 90,000 Ending market price per share 45 Net sales 5,100,000 ? What was Morgan's earnings per share for 2015?
A) $6.67 B) $6.00 C) $5.11 D) $0.15
Which of the following specific measures of vendor quality would be used when evaluating vendors that supply a company with direct materials?
A) Defect-free material as a percentage of total materials received B) Number of customer complaints C) Time it takes to make a product D) All would be considered to assess vendor quality of direct materials.
In a job order cost accounting system used by a service business, which of the following items would normally not be included as part of overhead?
A) Materials B) Direct labor C) Rent D) Supplies
A major benefit of using event sponsorship is that it
A. enhances personal selling efforts. B. provides excellent support for advertisements. C. can provide large amounts of free media coverage. D. is cost-free. E. neutralizes the effects of unfavorable public relations.