Michard Corporation Makes One Product and It Provided the Following

question 43

Multiple Choice

Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit.Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month.The ending finished goods inventory equals 20% of the following month's sales.The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound.Regarding raw materials purchases, 30% are paid for in the month of purchase and 70% in the following month.The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-hours.The variable selling and administrative expense per unit sold is $3.40. The fixed selling and administrative expense per month is $80,000.The budgeted sales for May is closest to:

• A) $1,725,000
• B) $950,000
• C) $1,312,500
• D) $1,612,500

Comprehend the significance of tolerance zones in profile tolerancing.

Identify the use cases for profile-of-a-line versus profile-of-a-surface tolerancing.

Understand the fundamental concepts of actual authority and how it enables agents to bind principals in contracts.

Grasp the principle of estoppel and its impact on the liability of principals based on the reasonable beliefs of third parties.

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Definitions:

Audience Behavior

Patterns or actions exhibited by an audience, often influenced by various factors such as cultural background or personal preferences.

Sentiment Analysis

The process of computationally identifying and categorizing opinions expressed in a piece of text, especially to determine whether the writer's attitude is positive, negative, or neutral.

Language Analysis Software

Digital tools designed to examine and interpret human language, often used for text analytics, sentiment analysis, or linguistic research.

Email Message

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