Match each of the following definitions of costs to the cost classifications.
1. This cost is the combined amount of all the other costs.
2. This cost remains constant over a limited range of volume; when it reaches the end of its limited range, it changes by a lump sum and remains at that level until it exceeds another limited range.
3. This cost has a component that remains the same over all volume levels and another component that increases in direct proportion to increases in volume.
4. This cost increases when volume increases, but the increase is not constant for each unit produced.
5. This cost remains constant over all volume levels within the productive capacity for the planning period.
6. This cost increases in direct proportion to increases in volume; its amount is constant for each unit produced.

Answer:

1. This cost is the combined amount of all the other costs. ⇒ TOTAL COST.

2. This cost remains constant over a limited range of volume; when it reaches the end of its limited range, it changes by a lump sum and remains at that level until it exceeds another limited range. ⇒ STEP-WISE COST.

3. This cost has a component that remains the same over all volume levels and another component that increases in direct proportion to increases in volume. ⇒ MIXED COST

4. This cost increases when volume increases, but the increase is not constant for each unit produced. ⇒ CURVELINEAR COST.

5. This cost remains constant over all volume levels within the productive capacity for the planning period.⇒ FIXED COST.

6. This cost increases in direct proportion to increases in volume; its amount is constant for each unit produced. ⇒ VARIABLE COST.

Blue Spruce Corp. reported net income of $377000 for the year. During the year, accounts receivable increased by $27000, accounts payable decreased by $12000 and depreciation expense of $59000 was recorded. Net cash provided by operating activities for the year is

A bailment is different from a gift because:___.
a. a gift requires consideration, but a bailment does not.
b. a gift is always a contract, but a bailment is generally not a contract.
c. a gift requires delivery, but a bailment does not.
d. in a bailment, only possession of the property is transferred to the bailee, whereas with a gift, both possession and ownership must pass to the donee.

Corporations differ from partnerships and other forms of business association in two ways. One of these is that:________.
a. they are regulated by the Federal Trade Commission.
b. they are formed simply by an agreement entered into among their members.
c. they must be publicly registered or in some way officially acknowledged by the law.
d. their shareholders are entitled to their share of the company's profits as soon as they are ascertained or determined.

Gantner Company had the following department information about physical units and percentage of completion: Physical Units Work in process, May 1 (60%) 60000 Completed and transferred out 180000 Work in process, May 31 (40%) 50000 If all materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May

Ayayai Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 69 units were sold.
Date Explanation Units Unit Cost Total Cost
May 1 Inventory 32 $8 $256
15 Purchase 25 9 225
24 Purchase 41 10 410
Total 98 $891
Calculate the weighted-average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
Weighted-average unit cost $____
Calculate the ending inventory at May 31 using the FIFO, LIFO and average-cost methods. (Round answers to 0 decimal places, e.g. 125.)
FIFO LIFO Average Cost
$____ $____ $_______

A newscaster earns $26600 and wants to invest 10% of his/her monthly salary to save for retirement in 28 years. if he/she invests this money at 4.2% compounded monthly, how much money will he/she have at retirement?
a) How much will be saved each year?
b) What will be the monthly deposit?
c) What will be the amount in the account after 28 years?

Health Scan, Inc. paid $50,000 for X-ray equipment four years ago. The equipment was expected to have a useful life of 10 years from the date of acquisition with annual operating costs of $35,000. Technological advances have made the machine purchased four years ago obsolete with a zero salvage value. An improved X-ray device incorporating the new technology is available at an initial cost of $43,000 and annual operating costs of $23,000. The new machine is expected to last only six years before it, too, is obsolete. Asked to analyze the financial aspects of replacing the obsolete but still functional machine, Health Scan's accountant prepared the following analysis. After looking over these numbers, the Center's manager rejected the proposal.
Six-year savings [($35,000 − $23,000) × 6] $72,000
Cost of new machine (43,000)
Undepreciated cost of old machine (30,000)
Advantage (disadvantage) of replacement $(1,000)
Calculate the net benefit (cost) of purchasing the new machine.

Identify the following is structural, frictional, cyclical and seasonal employment.

a. Andrew recently lost his job as an accountant for a large firm because he only knows how to perform the job using a general ledger (paper and pencil), and has been unwilling to learn how to use newly invented accounting software provided by the company.
b. Sam recently lost his job as an accountant for a large firm because he only knows how to perform the job a using a general ledger and has been unwilling to learn how to use newly invented accounting software provided by the company.
c. Teresa just graduated from college and is looking for a full time position with an investment banking firm.
d. A recent recession has reduced the number visitors to a local theme park. The park has had to lay off many of its employee, including Beth.

Harding Company is in the process of purchasing several large pieces of equipment from Danning Machine Corporation. Several financing alternatives have been offered by Danning: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 1. Pay $1,160,000 in cash immediately. 2. Pay $461,000 immediately and the remainder in 10 annual installments of $94,000, with the first installment due in one year. 3. Make 10 annual installments of $156,000 with the first payment due immediately. 4. Make one lump-sum payment of $1,730,000 five years from date of purchase. Required: Determine the best alternative for Harding, assuming that Harding can borrow funds at a 8% interest rate. (Round your final answers to nearest whole dollar amount.)

The ending inventory of finished goods has a total cost of $9,000 and consists of 600 units. If the overhead applied to these goods is $3,000, and the overhead rate is 75% of direct labor, how much direct materials cost was incurred in producing these units

The board of directors of Synergie Incorporation discussed a few goals for the new fiscal year. The chief goals included maximizing total sales revenue and improving the overall market position of the firm. These goals are categorized as:

In eight years, when he is discharged from the Air Force, Steve wants to buy a $30,000 power boat. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Required: What lump-sum amount must Steve invest now to have the $30,000 at the end of eight years if he can invest money at:

1-a. How much will net operating income increase (decrease) per month if the monthly advertising budget increases by $8,400, the monthly sales volume increases by 100 units, and the total monthly sales increase by $9,500? 1-b. Should the advertising budget be increased?

Consider a stock priced at $30 with a standard deviation of 0.3. The risk-free rate is 0.05. There are put and call options available at exercise prices of 30 and a time to expiration of six months. The calls are priced at $2.89 and the puts cost $2.15. There are no dividends on the stock and the options are European. Assume that all transactions consist of 100 shares or one contract (100 options). Suppose the investor constructed a covered call. At expiration the stock price is $27. What is the investor's profit

Your subscription to BusinessWeek is about to expire. You plan to subscribe to the magazine for the rest of your life. You can renew it by paying $50 annually, beginning immediately, or you can get a lifetime subscription for $500, also payable immediately. Assuming that you can earn 6.525% on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy?
a) 7.48.
b) 8.80.
c) 10.35.
d) 12.18.
e) 14.33.

SmartCorp sells 500 units, resulting in $75,000 of sales revenue, $32,000 of variable costs, and $20,000 of fixed costs. The number of units that must be sold to achieve $41,000 of operating income is: (Round intermediary calculations to two decimal places, and your final answer up to the nearest whole number.)

Carstow uses the periodic inventory method. (In the periodic method it is assumed that all sales occur the last day of the accounting period - or after all purchases during the period.) Carstow had the following inventory transactions in May, of the current year. On May 1, Carstow had 250 units in inventory that cost $8 each. On May 14, Carstow purchased 800 units at $10 each. On May 20, Carstow purchased 60 units at $13 each. On May 24, Carstow purchased 110 units at $14 each. Carstow sold 840 units on May 28th for $28 each. Do a computation for items 1-6 in the left column. Then, match the computations to the description. There may be extra choices in the right column that will not be used. Round the weighted average cost per unit to the nearest penny for those computations. (Final answer should be rounded to the nearest dollar.)
1. Sales revenue
2. Total cost of goods available for sale during the period
3. Cost of goods sold under FIFO
4. Cost of goods sold under LIFO
5. Cost of ending inventory under LIFO
6. Cost of goods sold under weighted average
A. $3,300
B. $3,838
C. $4,420
D. $7,900
E. $8,484
F. $9,020
G. $12,320
H. $23,520

The____________________ identifies the processes entailed in the business continuity plan and/or the disaster recovery plan.

Finley Company
End-of-Period Spreadsheet
For the Year Ended December 31
Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit
Cash 48,000 48,000
Accounts
Receivable 18,000 18,000
Supplies 6,000 6,000
Equipment 57,000 57,000
Accumulated Depreciation 18,000 18,000
Accounts Payable 25,000 25,000
Wages Payable 6,000 6,000
Common Stock 30,000 30,000
Retained Earnings 3,000 3,000
Dividends 3,000 3,000
Fees Earned 155,000 155,000
Wages Expense 63,000 63,000
Rent Expense 27,000 27,000
Depreciation
Expense 15,000 15,000
Totals 237,000 237,000 105,000 155,000 132,000 82,000
Net Income (Loss) 50,000 50,000
155,000 155,000 132,000 132,000
The entry to close Dividends would be:_____.
a. debit Retained Earnings, $3,000; credit Common Stock, $3,000.
b. debit Common Stock, $3,000; credit Retained Earnings, $3,000.
c. debit Dividends, $3,000; credit Retained Earnings, $3,000.
d. debit Retained Earnings, $3,000; credit Dividends, $3,000.

Generally Accepted Accounting Principles (GAAP), the accounting rule book. In the following scenario, please indicate which GAAP rule is being violated and why. Follow up with comments about why you think the rule exits and is important.
Scenario: XYZ Inc. was in the process of preparing its financial statements. XYZ is hoping to get approved for a loan from the First National Big Bank. XYZ's sole shareholder Slick, notices that the cash listed on the balance sheet is $4,000. Slick suggests that the balance sheet should include his personal current cash balance of $100,000. Slick convinces the company accountant to change cash on XYZ's balance sheet to $104,000. After all, he would gladly put his personal cash in if needed.

During the year, John (a self-employed management consultant) went from Columbus,OH to Seattle, WA on business. Preceding a five-day business meeting, he spent four days vacationing at the beach. Excluding the vacation costs, his expenses for the trip are:
Airfare $3,200
Lodging 1,100
Meals 1,000
Entertainment 600
Presuming no re-imbursement, deductible expenses are:_____.
a. $3,200.
b. $3,900.
c. $4,500.
d. $5,500.
e. none of these.

what the modern era quantiteve approach manegmet​

If a company is operating in a developing or less-developed country, which type of challenge can arise that would affect the shipping and movement of physical goods in a country

A health club has 3 employees who work on lead generation. Each employee contacts leads 20 hours a week and is paid $24 per hour. Each employee contacts an average of 210 leads a week. Approximately 8% of the leads become members and pay a onetime fee of $100. Material costs are $180 per week, and overhead costs are $1,000 per week. a. Calculate the multifactor productivity for this operation in fees generated per dollar of input

Suppose the market price of corn is​ $5.50 per bushel. Which of the following is not one of the three conditions that will need to be satisfied for the corn market to be in equilibrium at this​ price? A. Both the buyers and sellers of corn could benefit by making small changes to their market behaviors. B. The cost to corn farmers of growing the corn must be less than​ $5.50 per bushel. C. The quantity of corn produced by corn farmers will equal the quantity purchased by buyers. D. The buyers of corn will only use it for activities that they feel are worth at least​ $5.50 per bushel.

] Widget manufacturing Company began operations on January 1. All sales are on credit. Widget has sales budgeted as $160,000 for January and $290,000 for February. Accounts Receivable collections are expected to be 60% in the month of sale, 30% the next month, and 10% in the third month. Use this information to determine the dollar value of February Expected Cash Collections from Customers. Enter as a whole number (no cents). g

Using the probability approach to determine an inventory safety stock and wanting to be 95 percent sure of covering inventory demand, which of the following is the number of standard deviations necessary to have the 95 percent service probability assured?A) 1.28B) 1.64C) 1.96D) 2.00E) 2.18

Spanolia LLC is estimating its WACC. Its bonds have a 12 percent coupon, paid semiannually, a current maturity of 20 years, and sell for 1,000 USD. The firm's marginal tax rate is 40 percent. What is the after-tax cost of debt? Answer in % terms to 2 decimal places w/o the % sign.

By participating in _____, sellers can automate the fulfillment function of business-to-business (B2B) e-commerce.

If fixed costs are $288,000, the unit selling price is $75, and the unit variable costs are $49, the old and new break-even sales (units), respectively, if the unit selling price increases by $5 are a.3,840 units and 11,077 units b.11,077 units and 3,840 units c.11,077 units and 9,290 units d.5,878 units and 8,790 units