1. True
2. False
3. True
4. False
5. False
6. True
7. True
8. True
9. False
10. True
QUESTION 1 Choose "true" or "false" as applicable for the following items as they pertain to...
Instructions: Choose the best answer (True or False) for record a "T" for True or a "F" for False corresponding letters on the line to the lef "A" for True or a "B" for False on the SCANTRON sheet for rows 16 thru 50 21. In incremental analysis, total variable costs will always change under alternative courses of action, and total fixed costs will always remain constant. Decision-making involves choosing among altemative courses of action. 22. 23. A special one-time...
Choose "true" or "false" as applicable for each of the following items as they pertain to disposals of plant assets. [Choose] I Choo If the asset is sold, a gain will occur if the sell price of the asset exceeds the book value of the asset. I Choose1 If the asset is sold, a loss will occur if the book value of the asset exceeds the sell price of the asset. If the asset is discarded or retired, a a...
Assume Division A has provided the following information regarding the one product that it manufactures and sells on the outside market: Selling price per unit (o the outside market) Variable cost per unit Fixed costs per unit (based on capacity) Capacity in units S101 $63 $10 30,000 Division A has been offered the opportunity to sell 5,000 units of its only product to Division B within the same company. Division B can either agree to a transfer price with Division...
The following selected transactions were completed during August between Summit Company and Beartooth Co.: Aug. 1 Summit Company sold merchandise on account to Beartooth Co., $48,000, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $28,800. 2 Summit Company paid freight of $1,150 for delivery of merchandise sold to Beartooth Co. on August 1. 5 Summit Company sold merchandise on account to Beartooth Co., $66,000, terms FOB shipping point, n/45. The cost of the merchandise sold was...
25. Which of the following is management’s challenge when setting transfer prices? a. Ensuring the buyer has goal congruence with respect to the organization’s goals. b. Ensuring the seller has goal congruence with respect to the organization’s goals. c. Ensuring either the buyer or the seller, but not both, has goal congruence with respect to the organization’s goals. d. Ensuring both the buyer and seller have goal congruence with respect to the organization’s goals. 26. Which of the following transfer pricing procedures...
i need explanations 4 questions thank you 1. Suppose a human life is worth $10 million. Installing a better lighting system in the city park would reduce the risk of someone being murdered there from 3.5 to 2.9 percent over the life of the system. The city should install the new lighting system if its cost does not exceed a. $60,000. b. $290,000 c. $350,000 d. $600,000 Figure 8-7 The vertical distance between points A and B represents a tax...
1. Which of the following statement is not true regarding sales tax: a)Sales tax is a consumption tax b)Sales tax applies to the sale of certain goods and services c) Sales tax is levied at the point of sale d)Sales tax is collected by the retailer and passed on to the government e)Consumers pay sales tax directly to the state f) If a business fails to collect sales tax from a consumer, they are still responsible for paying the uncollected...
A. Credit period B. Credit terms C. Discount period D. FOB destination E. FOB shipping point F. General and administrative expenses G. Gross profit H. Inventory shrinkage 1. Merchandise inventory J. Multiple-step income statement K. Periodic inventory system L. Perpetual inventory system M. Purchase allowance N. Purchases discounts O. Sales discount P. Selling expenses Q. Shrinkage R. Single-step income statement S. Trade discount __A cash discount granted from the view of the seller, indicated in the credit terms on the...
1. To compete on the basis of price, the seller must carefully manage Select one: A. operating and maintenance costs. B. communications between buyer and seller. C. timely delivery and customer support. D. the degree to which products or services meet customer's needs. 2. Joliet Division has the capacity to make 1,500 units of an intermediate good that is sold both internally and on the open market for a price of $32 each. To make the product, Joliet incurs $7...
Question 1 Swifty Inc. has two divisions. Division A makes and sells student desks. Division B manufactures and sells reading lamps. Each desk has a reading lamp as one of its components. Division A can purchase reading lamps at a cost of $11 from an outside vendor. Division A needs 10,000 lamps for the coming year. Division B has the capacity to manufacture 46,200 lamps annually. Sales to outside customers are estimated at 36,200 lamps for the next year. Reading...