For Each of the Following Independent Situations, Solve for the Unknown

question 104

Short Answer

For each of the following independent situations, solve for the unknown amount.
$\begin{array}{lllll}&\text { CASE A }&\text { CASE B }&\text { CASE C }&\text { CASE D }\\\text { Current ratio } & \text { A } & 1.14 & 2.0 & 0.67 \\\text { Quick ratio } & 0.2 & \text { B } & 1.0 & 0.60 \\\text { Current liabilities } & 400 & 175 & 100 & 360 \\\text { Current assets } & 150 & 200 & \text { C } & 240 \\\text { Highly liquid assets } & 80 & 75 & 100 & \text { D }\end{array}$

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Definitions:

Market Selling Price

The price at which a product is sold to the public, determined by supply, demand, and other market factors.

Target Costing

The target cost is determined by subtracting a desired profit from a market-determined price. The resulting target cost is used to motivate cost improvements in design and manufacture.

Selling Price

The amount of money for which a product or service is sold.

Target Costs

The desired cost of a product for which a company aims in order to achieve a desired profit margin after considering the selling price and required profit.