Pinecrest Company Use the Selected Data from Pinecrest Company's Financial Statements to Statements

question 53

Multiple Choice

Pinecrest Company
Use the selected data from Pinecrest Company's financial statements to answer the following question.
-Refer to the data for Pinecrest Company.
The current ratio for 2016 is

• A)0.60 to 1
• B)0.99 to 1
• C)1.34 to 1
• D)1.68 to 1

---

Definitions:

Standard

Accepted criteria or expected specifications established as a model for measuring quality, performance, or compliance.

Budgeted

The process of creating a plan for a company's spendings and incomes over a specific period, typically including projected revenues, expenses, and net income.

Direct Labor Time Variance

The difference between the actual hours worked and the standard hours allowed for the work done, multiplied by the standard labor rate.

Direct Labor

The cost of wages for employees who directly manufacture or produce goods.