Dewey, Cheatham, and How, Attorneys-At-Law, Specialize in Three Areas: Criminal

question 133

Multiple Choice

Dewey, Cheatham, and How, Attorneys-at-Law, specialize in three areas: criminal, civil, and family law.When specifications for a new IT system were established, the partners agreed to allocate fixed costs based on gigabytes needed by each department.The criminal law division needed 40% of the capacity, civil law needed 35%, and family law needed 25%.Variable costs for the IT department are allocated on the amount of bandwidth used by each division used.The IT department's budgeted monthly fixed costs are $640,000, and the budgeted monthly variable costs are $160,000.The firm estimates that 8,000,000 gigabytes of computer time will be used in June.The criminal law division actually used 3,040,000 gigabytes of bandwidth during June.The family law division used 2,100,000 and the civil law division used 3,100,000 gigabytes of bandwidth during June.What amount of the IT fixed costs will be allocated to the civil law division during June? (Compute cost allocation rates to 3 significant digits.)

• A)$224,000
• B)$248,000
• C)$241,984
• D)None of these answer choices are correct.

Analyze the impact of specific transactions on financial ratios and a firm’s financial condition.

Calculate net income based on given financial metrics including return on assets, total assets, and liabilities.

Understand the relationship between financial statements adjustments, such as depreciation and bad debt expense, and their impact on financial ratios.

Interpret the financial performance of companies through ratio analysis, including profitability, liquidity, and solvency ratios.

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Definitions:

Asymmetric Carbons

Carbon atoms bonded to four different groups, resulting in chirality or the existence of nonsuperimposable mirror images.

Chiral

Describes a molecule that cannot be superimposed on its mirror image, often resulting in different biological activities for each form.

Achiral

Lacking chirality; not having a non-superimposable mirror image.

Asymmetric Carbon

An asymmetric carbon, also known as a chiral carbon, is a carbon atom that is attached to four different groups, making its mirror image not superimposable on itself.