Louise, Inc. has a cash balance of $20,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:
Apr May Jun
Cash collections $22,000 $22,000 $24,000
Cash payments:
Purchases of direct materials 4,600 5,000 6,800
Operating expenses 6,000 4,600 6,000
There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May.
A) $48,400
B) $43,800
C) $53,400
D) $22,000
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Felix Time Company manufactures and sells watches for $40 each. Times Products Company has offered Felix Time $25 per watch for a one-time order of 5,000 watches. The total manufacturing cost per watch is $28 per unit and consists of variable costs of $20 per watch and fixed overhead costs of $8 per watch. Assume that Felix Time has excess capacity and that the special pricing order would not adversely affect regular sales. What is the change in operating income that would result from accepting the special sales order?
A) decrease of $125,000
B) decrease of $25,000
C) increase of $25,000
D) increase of $125,000
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Knapp Roofing Company has estimated the following amounts for its next fiscal year:
Total fixed costs $840,000
Sale price per unit 80
Variable cost per unit 30
If the company spends an additional $35,000 on advertising, sales volume would increase by2,500 units. What effect will this decision have on the operating income of Evans?
A) Operating income will increase by $90,000.
B) Operating income will decrease by $90,000.
C) Operating income will increase by $200,000.
D) Operating income will increase by $125,000.
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Helga works as a nurse in a private hospital. She is paid an hourly wage. Helga is typically required to work 40 hours per week, from 10 p.m. until 6 a.m. Monday through Friday. Due to the recent resignation of another nurse, Helga's supervisor has offered her the opportunity to work additional hours each week. Which of the following is true in terms of Helga's prospects for overtime pay?
A) Helga cannot receive overtime pay, since federal law conclusively presumes that health care workers are paid on a salaried basis.
B) Helga can receive overtime pay only if she works more than 60 hours per week, due to the federal overtime pay restrictions imposed on the health care sector.
C) Helga cannot receive overtime pay, as federal law prohibits overtime pay for health care workers.
D) Helga is entitled to overtime pay if she works the additional hours.
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Shares that are repurchased by a corporation are called unissued shares.
[True or False]
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Interests in oil, gas, and mineral rights are classified as ________.
A) statutorily defined securities
B) implicit securities
C) investment contracts
D) common securities
This is for my business law class, anything will help
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The ________ rule states that acceptance is effective when it is dispatched, even if it is lost in transmission.
A) silence-as-acceptance
B) mirror image
C) mailbox
D) mutual assent
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Explain open delivery term.
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What is a homestead exemption?
A) investment in realty that a debtor must forfeit
B) equity in a home that a debtor is permitted to retain
C) remainder of the debtor's interest in commercial property that is returned to him after fulfilling creditors' claims
D) all of the debtor's assets converted to cash
This is for my business law class, anything will help
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The manufacturer or seller is not liable if a product is materially altered or modified after it leaves the seller's possession and the alteration or modification causes an injury.
[True or False]
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