Lancaster Bakery Has Net Fixed Assets of $329,700,current Assets of $87,200,a

question 17

Multiple Choice

Lancaster Bakery has net fixed assets of $329,700,current assets of $87,200,a price-earnings ratio of 12.8,a debt-equity ratio of 0.42,and earnings per share of $1.97.What is the market-to-book ratio if there are 36,000 shares of stock outstanding?

• A)3)09 times
• B)2)79 times
• C)2)24 times
• D)3)46 times
• E)3)80 times

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Definitions:

Standard Cost Per Mip

Standard cost per MIP refers to the benchmark or predetermined cost assigned to manufacturing one unit of measurement or milepost in production, used for budgeting and performance evaluation.

Direct Labour

Compensation for employees who are directly involved in manufacturing products or providing services.

Direct Materials

Raw materials that can be directly traced to the production of a specific product.

Materials Price Variance

The difference between the actual cost of raw materials and the expected cost at standard prices.