Fixed overhead was budgeted at $84,000 and 10,000 direct labor hours were budgeted. If the fixed overhead volume variance was $3,200 unfavorable and the fixed overhead spending variance was $1,200 favorable, fixed overhead applied must be
A) $85,200
B) $87,200
C) $82,800
D) $82,000
E) $80,800
E
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Which of the following is a policy a store can adopt to make low-profit customers more profitable?
A) 2Wheels sends birthday greetings to its best customers and gives them discounts on merchandise. B) 2Wheels has a club for its regular customers, organizing cycling events and parties for them. C) Though 2Wheels previously offered free delivery, it now charges for deliveries made outside the city. D) 2Wheels allows existing customers to upgrade to a newer model at less than the sticker price by trading in their older model. E) 2Wheels encourages customers to send in their suggestions for product improvement.
An intangible asset with a determinable useful life should be amortized over that useful life
Indicate whether the statement is true or false
The income statement shows net sales, which is equal to
A) net sales minus cost of goods sold. B) earnings before taxes minus taxes. C) operating income minus operating expenses. D) operating income minus interest. E) gross revenues minus returns and allowances.
Tim received a letter from his state college stating that he had been expelled from the school. The letter stated his finance professor reported him to the Dean's office for cheating and that a committee had decided to expel him. He was reminded in the letter he had been disciplined earlier that same year for plagiarizing a term paper. Tim believes his due process rights have been violated by the college. Discuss what factors should be considered to determine the validity of Tim's claim.
What will be an ideal response?