Determine the adjusted cash balance per bank for Sam's Packaging on November 30, from the following information:
Cash balance on the bank statement $3,350
Customer's check returnedNSF 500
Customer's note collected by the bank 600
Deposits in transit, November 30 1,400
Outstanding checks, November 30 3,650
A) $1,100
B) $1,250
C) $1,550
D) $1,350
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The final step in the accounting cycle is:
A) preparing the financial statements.
B) posting the adjusting entries.
C) preparing the post-closing trial balance.
D) posting the closing entries.
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________ is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.
A) Marketing communications
B) Internal marketing
C) Marketing research
D) Market segmentation
E) Marketing planning
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How many units would have to be sold to yield a target income of $11,000 assuming variable costs are $30 per unit, total fixed costs are $1,000, and the unit selling price is $40?
A) 1,200 units
B) 1,100 units
C) 1,000 units
D) 900 units
E) 300 units
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Uniformly assigning the costs of resources to cost objects when those resources are actually used in a non-uniform way is called
A) activity-based costing.
B) menu-based costing.
C) full product-cost allocation.
D) variable product-cost allocation.
E) broad averaging or peanut butter costing.
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Which of the following is one of the steps used in assigning manufacturing overhead costs to individual jobs?
A) combine different cost objects into pools
B) assign direct costs to the cost object
C) identify the direct cost pools associated with the job
D) calculate the direct cost allocation rate for each direct cost pool
E) select the cost-allocation base to use in allocating indirect costs to the cost object
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A production budget expressed in units is equal to
A) budgeted sales plus beginning finished goods inventory plus targeted ending finished goods inventory.
B) budgeted sales less beginning finished goods inventory less targeted ending finished goods inventory.
C) budgeted sales less beginning finished goods inventory plus targeted ending finished goods inventory.
D) budgeted sales plus beginning finished goods inventory less targeted ending finished goods inventory.
E) last year's sales plus beginning finished goods inventory plus targeted ending finished goods inventory.
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The legal document specifying all the provisions attached to a bond issue is called a(n)
▸ indenture.
▸ trust deed.
▸ loan contract.
▸ covenant.
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An annuity with periodic payments made at the end of each payment period is called:
A) ordinary
B) simple
C) annuity due
D) general
E) none of the above
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SDM sells eggs at $2.80/dozen. How many eggs can be bought for $2.10?
A) None
B) 6
C) 9
D) 12
E) 15
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