Question
59. Production and sales estimates for March for the Robin Co. are as follows: Estimated inventory (units), March 1 18,000 Desired inventory (unit), March 31
59.
Production and sales estimates for March for the Robin Co. are as follows:
Estimated inventory (units), March 1 | 18,000 |
Desired inventory (unit), March 31 | 21,600 |
Expected sales volume (units): | |
Area M | 7,000 |
Area L | 8,000 |
Area O | 9,000 |
Unit sales price | $15 |
The number of units expected to be manufactured in March is
a.24,000
b.27,000
c.27,600
d.21,600
66.
Conversion costs consist of product costs and period costs.
True
False
70. Which of the following should be added to net income in calculating net cash flow from operating activities using the indirect method?
a. an increase in inventory
b. a gain on the sale of equipment
c. depreciation expense
d. dividends declared and paid
78.
For February, sales revenue is $700,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising expenses are $90,000; shipping expenses total 2% of sales; and miscellaneous selling expenses are $2,500 plus 1/2 of 1% of sales. Total selling expenses for the month of February are
a.$237,500
b.$161,000
c.$241,000
d.$235,000
85.
Foreign currency translation adjustment is an example of an item that would be included in other comprehensive income.
True
False
87.
If Division Inc. expects to sell 200,000 units in the current year, desires ending inventory of 24,000 units, and has 22,000 units on hand as of the beginning of the year, the budgeted volume of production for the year is 202,000 units.
True
False
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