31.The Cineplex Movie Theater has invested in a snack bar for its store, where individual pizzas would be prepared and sold. The investment cost the company $45,000. The company expects a sales volume for the new product to be 12,000 pizzas a year. Variable materials, preparation, and marketing costs are expected to be $1.50 per unit and fixed costs are estimated at $15,000 […]

    31.Anton believes his company’s overhead costs are driven (affected) by the number of machine hours because the production process is heavily automated. During the period, the company produced 3,000 units of Product A requiring a total of 100 machine hours and 2,000 units of Product B requiring a total of 25 machine hours. What allocation rate should be used if the company incurs […]

  117.Which of the following is considered a source of general revenue in the Government-wide Statement of Activities? A)  Charges for Services B)  Sales Taxes C)  Operating Grants D)  None of the Above 118.Which of the following is true concerning infrastructure assets? A)  Capitalization of infrastructure is optional B)  Capitalization of infrastructure is required C)  Governments must depreciate infrastructure assets D)  Governments rarely possess infrastructure […]

  SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 73) Tripp Company sells three products with the following seasonal sales pattern:   Products Quarter XYZ 1 40% 30%    10% 2 30% 20% 40% 3 20%  20%    40% 4 10%  30%  10% The annual sales budget shows forecasts for the different products and their expected selling […]

    81. An individual that works in a country other than his/her country of origin is called a(n):  A. nonpatriate. B. repatriate. C. expatriate. D. inpatriate. The most frequently selected location for expatriate assignments include the United States, China, United Kingdom, Singapore, Germany, and Japan.     82. Which one of the following is not true of cross-culture preparation?  A. Most U.S. companies send employees overseas only after educating employees and […]

  41. The amount of increase or decrease in revenue that is expected from a particular course of action as compared with an alternative is termed: A. manufacturing marginB. contribution marginC. differential costD. differential revenue 42. The amount of increase or decrease in cost that is expected from a particular course of action as compared with an alternative is termed: A. period costB. product costC. differential costD. discretionary cost 43. A cost that will not be affected by […]

  91. Land costing $47,000 was sold for $78,000 cash. The gain on the sale was reported on the income statement as other income. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?  A. $78,000 B. $47,000 C. $109,000 D. $31,000 92. Equipment with an original cost of $50,000 and accumulated depreciation of $20,000 was sold at a loss of […]

  81) Brown Laundry has a variable demand. The daily demand ranges from 100 to 140 customers a day with an average of 5 items. The average daily demand is 110 customers. The laundry operates 10 hours a day. Each order takes approximately 5 minutes.   Required:   a.What is the average customer waiting time in minutes? b.What is the cycle time for an order? […]

  25) On December 31, 2011, Bill’s Hooks, Inc. issued $10,000 worth of 8% bonds at 88. The market rate of interest at the time of issue was 10%. These are 10-year bonds with interest paid annually at December 31. The company uses the effective-interest method to amortize the discount. For each item listed below, fill in the correct dollar amount in the column that […]

  101. The International Accounting Standards Board (IASB)  A. Hopes to create harmony among accounting practices of different countries. B. Is the government group that establishes reporting requirements for companies that issue stock to the public. C. Has the authority to impose its standards on companies. D. Is the only source of generally accepted accounting principles (GAAP). E. Only applies to companies that are members of the European Union. 102. The Maxim […]