Norton Inc. Could Improve Its Current Ratio Of 2 By: Multiple Choice Purchasing Inventory On Credit. Selling Merchandise On Credit At A Profit. Writing Off An Uncollectible Receivable. Paying A Previously Declared Stock Dividend. The Following Accounts Are From Last Year’s Books At Sharp Manufacturing:
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Norton Inc. could improve its current ratio of 2 by:

Multiple Choice

purchasing inventory on credit.

selling merchandise on credit at a profit.

writing off an uncollectible receivable.

paying a previously declared stock dividend.

The following accounts are from last year’s books at Sharp Manufacturing:

Raw Materials
Bal 0 (b) 156,600
(a) 170,500
13,900
Work In Process
Bal 0 (f) 520,400
(b) 133,300
(c) 170,600
(e) 216,500
0
Finished Goods
Bal 0 (g) 473,000
(f) 520,400
47,400
Manufacturing Overhead
(b) 23,300 (e) 216,500
(c) 27,300
(d) 158,600
7,300
Cost of Goods Sold
(g) 473,000
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year?

Multiple Choice

$520,400

$465,700

$473,000

$256,550

The Tolar Corporation has 400 obsolete desk calculators that are carried in inventory at a total cost of $576,000. If these calculators are upgraded at a total cost of $120,000, they can be sold for a total of $180,000. As an alternative, the calculators can be sold in their present condition for $40,000.

What is the financial advantage (disadvantage) to the company from upgrading the calculators?

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Multiple Choice

$20,000

($60,000)

$140,000

($580,000)

When using a flexible budget, a decrease in activity within the relevant range:

Multiple Choice

increases variable cost per unit.

increases total costs.

decreases variable cost per unit.

decreases total costs.