Norton Inc. Could Improve Its Current Ratio Of 2 By: Multiple Choice Purchasing Inventory On Credit. Selling Merchandise On Credit At A Profit. Writing Off An Uncollectible Receivable. Paying A Previously Declared Stock Dividend. The Following Accounts Are From Last Year’s Books At Sharp Manufacturing:
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Norton Inc. could improve its current ratio of 2 by:
Multiple Choice
purchasing inventory on credit.
selling merchandise on credit at a profit.
writing off an uncollectible receivable.
paying a previously declared stock dividend.
The following accounts are from last year’s books at Sharp Manufacturing:
Raw Materials
Bal 0 (b) 156,600
(a) 170,500
13,900
Work In Process
Bal 0 (f) 520,400
(b) 133,300
(c) 170,600
(e) 216,500
0
Finished Goods
Bal 0 (g) 473,000
(f) 520,400
47,400
Manufacturing Overhead
(b) 23,300 (e) 216,500
(c) 27,300
(d) 158,600
7,300
Cost of Goods Sold
(g) 473,000
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?
Multiple Choice
$520,400
$465,700
$473,000
$256,550
The Tolar Corporation has 400 obsolete desk calculators that are carried in inventory at a total cost of $576,000. If these calculators are upgraded at a total cost of $120,000, they can be sold for a total of $180,000. As an alternative, the calculators can be sold in their present condition for $40,000.
What is the financial advantage (disadvantage) to the company from upgrading the calculators?
Garrison 16e Rechecks 2017-12-15
Multiple Choice
$20,000
($60,000)
$140,000
($580,000)
When using a flexible budget, a decrease in activity within the relevant range:
Multiple Choice
increases variable cost per unit.
increases total costs.
decreases variable cost per unit.
decreases total costs.
