To Answer,refer to the Following: "At Huffy's

question 58

Multiple Choice

To answer,refer to the following: "At Huffy's ...bicycle factory,1,700 employees turn out 15,000 bicycles a day in 1987) .Five years before,it required 2,200 workers to make 10,000 bikes daily." The Wall Street Journal) .
Holding all else equal,we can conclude that,over those years,

• A)Huffy's average variable cost decreased.
• B)Huffy's average variable cost increased.
• C)Huffy's marginal cost decreased.
• D)Huffy's marginal cost increased.
• E)both a and c

Recognize the effects on financial statements of omitted adjustments.

Classify items correctly as prepaid expenses, unearned revenues, accrued expenses, and accrued revenues.

Journalize adjusting entries for various scenarios including payroll, prepaid insurance, and license taxes.

Analyze and reconstruct adjusting entries from trial balances to determine net income.