Answer:
Production= 45,000 units
Explanation:
Giving the following information:
Raw materials, June 1: 46,000 units
Raw materials, June 30: 51,000 units
Purchases of raw materials during June: 185,000 units
<u>First, we need to calculate the raw material used in production:</u>
<u></u>
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 46,000 + 185,000 - 51,000
Direct material used= 180,000
<u>Now, the production for the period:</u>
Production= 180,000/4
Production= 45,000 units
Groups of related business activities such as the acquisition of merchandise and payment of vendors are called transaction cycles.
A transaction cycle is an interlocking set of business transactions. Most of those transactions may be aggregated into a comparatively small number of transaction cycles associated with the sale of products, payments to suppliers, payments to employees, and payments to lenders.
A transaction cycle is a set of accounting transaction that happens in a very normal sequence as an example a sales transaction is followed by shipping transaction, a billing transaction, and a cash receipts transaction.
Therefore, there are four transaction cycles which are the following:- Financial cycle, expenditure cycle, revenue cycle, conversion cycle.
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Answer: C. narrow-based calls
Explanation:
Narrow based calls would include calls from one industry. The mutual fund is an "High technology" firm which means that it is a narrow based fund for instance as it is interested only in one industry being the High Tech industry.
The manager should invest in Narrow based calls that focus on the sector if he anticipates that the market will remain flat for the sector. Narrow based Calls are more volatile because they are specific and with the volatility comes higher premiums to be charged.
Should he wish to make income against the portfolio, he should sell these knowing that the options will not be called as the market will remain flat.
Answer:
LEWIS Co.
Flexible budget performance report
For month ended May 31
Flexible budget Actual results Variances Result
Sales $420,000 $435,000 $15,000 Fav
(1400*$300)
Variable expense $168,000 $172,000 $4,000 Unfav
(1400*$120)
Contr. margin $252,000 $263,000 $11,000 Fav
Fixed cost $125,000 $122,000 $3,000 Fav
Net Income $127,000 $141,000 $14,000 Fav
