Selected information from the accounting records of Espy Company is as follows: Net sales for 2014 ................................... $900,000 Cost of goods sold for 2014 .......................... 600,000 Inventory at December 31 . 2014 ....................... 180,000 Inventory at December 31 . 2014 ....................... 156,000 Espy's inventory turnover for 2014 is
a. 5.36 times.
b. 3.85 times.
c. 3.67 times.
d. 3.57 times.
D
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In an activity-based costing (ABC) system, what should be used to assign departmental manufacturing overhead costs to products produced in varying lot sizes?
A. Multiple cause-and-effect relationships. B. A product's ability to bear cost allocations. C. Relative net sales values of the products. D. A single cause-and-effect relationship.
The predetermined overhead rate for manufacturing overhead for 2020 is $4.00 per direct labor hour. Employees are expected to earn $5.00 per hour and the company is planning on paying its employees $100,000 during the year. However, only 75% of the employees are classified as "direct labor." What was the estimated manufacturing overhead for 2020?
A. $60,000. B. $80,000. C. $93,750. D. $75,000.
The final arbiter as to the constitutionality of laws passed by Congress or by the legislature of a state is the Supreme Court of the United States
a. True b. False Indicate whether the statement is true or false
One of the main reasons why foreign firms are interested in buying U.S. companies is to gain entrance to the U.S. market. A decline in the value of the dollar relative to most foreign currencies makes this competitive strategy especially attractive.
Answer the following statement true (T) or false (F)