A company’s product sells at $47.50 per unit and has a $22.50 per unit variable cost. The company’s total fixed costs are $97,500.10. The contribution margin per unit is: A. $22.50B. $47.50C. $25.00D. $20.00 E. $32.5011. The break-even point in units is: (round up to a whole unit for example, 1.1 units is 2) A. […]
Date: June 15th, 2022
Assume that the required reserve rate is ten percent (0.1). Hold as a given that the public does not change their currency holdings and that banks do not hold any excess reserves. What will be the change in deposits resulting from a $50 million open market purchase by the Federal Reserve Bank? (8 Points)
Date: June 15th, 2022
Zonker Inc purchases 500 units of an item at an invoice cost of $30,000. What is the cost per unit? If the goods are shipped f.o.b. shipping point and the freight bill was $1,500, what is the cost per unit if Zonker Inc pays the freight charge? If these items were bought on 2/10, n/30 […]
Date: June 15th, 2022
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/10,000. The marginal cost is constant and equal to 0.30. The fixed cost is 3,000. Variable cost is 0.30Q. Find the monopolist’s profit-maximizing quantity.(Format: answers must be within 2 of the true value to be counted […]
Date: June 15th, 2022
Record the following transactions for Pro Line Communications Inc in the general journalMay 30: Accepted a 60-day, 12% note for $11,000 from Photo Master as payment on an accounts receivableMay 29: Received interest due on Photo Master note. The note is renewed for 45 days at 13% interestMay 28: Received full payment of the Photo […]
Date: June 15th, 2022
Bradford Company budgeted 4,500 pounds of material costing $5.25 per pound to produce 2,000 units. The company actually used 5,500 pounds that cost $5.37 per pound to produce 2,000 units.21. What is the direct materials quantity variance? A. $660 unfavorableB. $540 unfavorableC. $2,500 unfavorableD. $5,250 unfavorable E. $5,370 unfavorable22. What is the direct materials price […]
Date: June 15th, 2022
The relationships among population size, sample size, precision, and confidence levelare such thatA. Sample size will increase proportionally to increases in population size while precisionand confidence level are held constant.B. Precision will increase when confidence level increases while sample size andpopulation size are held constant.C. Confidence level will increase when sample size decreases and population […]
Date: June 15th, 2022
You have discovered a magical elixir that will allow you to live forever. You subsequently sold the rights to that elixir for $15,000,000 and have invested that money at 10% interest. The expected inflation rate is 2.5% forever. Finally, you wish to pay for your daughterâs wedding which you estimate will occur in 25 years. […]
Date: June 15th, 2022
Tiffany Company has two divisions, Gold and Silver. Gold produces a unit that Silver could use in itsproduction. Silver currently is purchasing 50,000 units from an outside supplier for $25. Gold isoperating at less than full capacity and has variable costs of $13.50 per unit. The full cost tomanufacture the unit is$20. Gold currently sells […]
Date: June 15th, 2022
Which of the following statements is false?Notes receivable are initially entered in the accounting records via a debitPrincipal is the amount on which interest is figuredThe interest on a note is deemed to be revenue to the maker of the noteInterest revenue is recorded as it is received and as a year-end adjustmentNone of the […]
Date: June 15th, 2022
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