Author: Anonymous

How many of the following costs related to a company truck would be considered a capital expenditure? The cost to replace a fan belt The cost to replace an air filter The cost to wash the van The cost to replace a tire

The Morissette Corporation developed standards for the manufacture of its product such that each unit should have three pounds of direct materials purchased at $6 per pound and each unit should be produced in two hours at a direct labor cost of $16 per hour. Actual production was 18,000 units using 50,000 pounds of direct materials at a total cost of $286,000 and required 580 direct labor hours at a total cost of $10,400. What was the total direct materials variance for the company?  Use a positive number to indicate a favorable variance or a negative number to indicate an unfavorable variance.

If a company planned on purchasing some equipment next month which budgets would be immediately impacted?

The Armstrong Company currently has a return on assets ratio of 15 percent and is trying to improve interest by investors.  How many of the following actions would worsen the ratio? Buying equipment Selling inventory at a profit Paying off some current liabilities Obtaining a long-term loan

The Kiedis Company reported the following:   Year 3 Year 2 Year 1 Revenue 32,000   28,000   26,000 Cost of goods sold 28,400   25,600   22,500 Cash 3,200   2,920   3,500 Net income 3,558   2,340   3,465 Accounts receivable 640   710   600 Notes payable 18,000   21,000   19,000 Inventory 1,700   2,020   1,800 Tax expense 30   40   20 Equipment 18,800   19,400   20,000 Interest expense 12   20   15 Accounts payable 1,200   900   1,000 For a horizontal analysis, what is the percent change in cost of goods sold for year 3?  Convert your final answer to a percentage, round to one decimal place and enter without the “%” sign (e.g. a final answer of 0.105678 would be entered as 10.6).  

The Stipe Company had period costs of $45,000 and product costs of $98,000 when it produced 900 units. If the company sold 820 units, what dollar amount would it report as cost of goods sold for the period?  Round your final answer to the nearest whole dollar.

The Kiedis Company reported the following:   Year 3 Year 2 Year 1 Revenue 32,000   28,000   26,000 Cost of goods sold 28,400   25,600   22,500 Cash 3,200   2,920   3,500 Net income 3,558   2,340   3,465 Accounts receivable 640   710   600 Notes payable 18,000   21,000   19,000 Inventory 1,700   2,020   1,800 Tax expense 30   40   20 Equipment 18,800   19,400   20,000 Interest expense 12   20   15 Accounts payable 1,200   900   1,000 What is the company’s current ratio for year 3?  Round your final answer to two decimal places.

Which of the following time value of money tables would likely be the best to use to help determine the amount of interest you would have to pay over the life of a home loan?

If a company recorded the payment of a dividend in a tabular analysis, the transaction would include (Cash) as a(n) [response1] activity as well as [reponse2] in the [response3] column.

The O’Connor Company borrowed $40,000 from a local bank on January 1, 2024 at an interest rate of six percent that will be repaid in full at the end of the three-year term.  How much interest expense should be accrued for 2025?  As needed, round your final answer to the nearest whole dollar and enter as a positive number.