Assuming That Luther Has No Convertible Bonds Outstanding,then for the Year

question 95

Multiple Choice

Assuming that Luther has no convertible bonds outstanding,then for the year ending December 31,2009 Luther's diluted earnings per share are closest to:

• A)$1.01
• B)$1.04
• C)$1.28
• D)$1.33

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Definitions:

Finished Goods

Items that are fully manufactured but remain unsold and undistributed to the final consumer.

Raw Materials

The basic materials from which products are made, used at the start of the production process.

Requisitioned

The process of formally requesting or acquiring goods or services needed for business operations or production.

Direct Labor

The wages and related benefits for employees directly involved in the production of goods or services, considered a variable cost as it typically changes with production levels.