Homework Answers
| d) Variable cost and contribution margin are the answer | |
| This is because both variable cost and contibution margin are directly proportional to sales and increase in same proportion | |
| Other answers are incorrect because | |
| Gross margin change in Different % | |
| Fixed costs remain same | |
| Net operating income will increase by more than 7% | |
| Sales | xxxx |
| Less Variable Expenses | xxxx |
| Contribution Margin | xxxx |
| e) | |
| Net operating income is the answer | |
| Other answers are incorrect because | |
| variable cost and contibution margin are directly proportional to sales and increase in same proportion | |
| Gross margin change in Different % | |
| Fixed costs remain same | |
| Sales | xxxx |
| Less Variable Expenses | xxxx |
| Contribution Margin | xxxx |
| Fixed cost | xxxx |
| Net operating income | xxxx |
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(d) When sales increase by 7%, which of the following should also increase by 7% in...
Please explain your choices? I wanted to double check to see if I understood the questions...
Please explain your choices? I wanted to double check to see if
I understood the questions correctly
(d) When sales increase by 21%, which of the following should also increase by 21% in a merchandising company? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left...
1. Now change all of the dollar amounts in the data area of your worksheet so...
1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this 1 Chapter 1: Applying Excel 3 Data 4 Sales $ 20,000 5 Variable costs: $10,000 $1000 800 6 7 8 9 Fixed costs: 10 Fixed selling 11 Fixed administrative Cost of goods sold Variable selling Variable administrative 2,500 $1,500 If your formulas are correct, you should get the correct answers to the following questions (a) What is the gross...
Knowledge Check 01 Which of the following are common principles of internal control? (You may select...
Knowledge Check 01 Which of the following are common principles of internal control? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) O Control environment Establish responsibility Reporting procedures Restrict access Segregate duties
A service company has the following costs
A service company has the following costs(You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)? direct materials? overhead costs? product costs? expensed in the period incurred
The Cash table below contains seven attributes. Which of those could possibly be foreign keys? (You may select more than one answer.
Required: The Cash table below contains seven attributes. Which of those could possibly be foreign keys? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with E the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Cash Receipt:
Select the items below which must be adjusted to the book balance: You may select more than one answer
Knowledge Check 01 Select the items below which must be adjusted to the book balance: You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect) deposits in transit book error break erroroutstanding checks interest earned on checking accountcollections of accounts receivable...
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one...
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Money market funds Supplies Three-month Treasury bills Accounts receivable Prepaid rent
Requirement 1: (a). Which of the following statements are true concerning the predetermined overhead rate when...
Requirement 1: (a). Which of the following statements are true concerning the predetermined overhead rate when the direct labor-hour requirement for the Deluxe model dropped from 5 hours to 2 hours? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will...
What are the two reasons that inventory must be estimated?
Knowledge Check 01 What are the two reasons that inventory must be estimated? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) A company uses the perpetual inventory system. A company experiences a casualty. Yearly financial statements are prepared Interim...
Knowledge Check 01 Which of the following explain why internal controls can never completely prevent and...
Knowledge Check 01 Which of the following explain why internal controls can never completely prevent and detect errors and frauds? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) The costs of controls always exceed...
Please explain your choices? I wanted to double check to see if
I understood the questions correctly
(d) When sales increase by 21%, which of the following should also increase by 21% in a merchandising company? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left...
1. Now change all of the dollar amounts in the data area of your worksheet so that it looks like this 1 Chapter 1: Applying Excel 3 Data 4 Sales $ 20,000 5 Variable costs: $10,000 $1000 800 6 7 8 9 Fixed costs: 10 Fixed selling 11 Fixed administrative Cost of goods sold Variable selling Variable administrative 2,500 $1,500 If your formulas are correct, you should get the correct answers to the following questions (a) What is the gross...
Knowledge Check 01 Which of the following are common principles of internal control? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) O Control environment Establish responsibility Reporting procedures Restrict access Segregate duties
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Money market funds Supplies Three-month Treasury bills Accounts receivable Prepaid rent
Requirement 1: (a). Which of the following statements are true concerning the predetermined overhead rate when the direct labor-hour requirement for the Deluxe model dropped from 5 hours to 2 hours? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will...
Knowledge Check 01 Which of the following explain why internal controls can never completely prevent and detect errors and frauds? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) The costs of controls always exceed...
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