At January 1, 2014, Foxmore Company Had 80,000 Shares of Common

question 18

Multiple Choice

At January 1, 2014, Foxmore Company had 80,000 shares of common stock outstanding and no preferred stock. During the year, they issued 40,000 additional shares of common stock. At December 31, 2014, Foxmore had 120,000 shares of common stock outstanding, and no preferred stock. In addition, Foxmore reported the following results for the year 2014: At December 31, 2014, how much is the earnings per share for total net income (loss) ?
(Please round all calculations to the nearest cent.)

• A)$(1.20)
• B)$7.85
• C)$10.65
• D)$(2.80)

Calculate the Cost of Goods Sold (COGS) for manufacturing companies.

Distinguish between product and period costs, including classifications of prime and conversion costs.

Calculate prime and conversion costs in a manufacturing setting.

Identify and describe the three types of inventories held by manufacturers.

---

Definitions:

Rote Learning

A strategy for remembering by repeatedly going over the material, typically without grasping its deeper meaning.

Phonetic Learning

The process of learning how to recognize, produce, and manipulate the sounds within a language.

Kohlberg's Theory

A theory of moral development that outlines how individuals progress through different stages of moral reasoning from childhood through adulthood.

Moral Judgments

Evaluations or decisions based on considerations of right and wrong or good and bad behavior.