Piechocki corporation manufactures and sells a single product. the company uses units as the measure of activity in its budgets and performance reports. during may, the company budgeted for 7,400 units, but its actual level of activity was 7,350 units. the company has provided the following data concerning the formulas used in its budgeting and its actual results for may: data used in budgeting: fixed element per month variable element per unitrevenue - $ 34.90direct labor $0 $ 5.50direct materials 0 13.40manufacturing overhead 31,000 2.40selling and administrative expenses 26,200 0.20total expenses $ 57,200 $ 21.50 actual results for may: revenue $ 257,800direct labor $ 39,870direct materials $ 99,890manufacturing overhead $ 47,000selling and administrative expenses $ 30,54the activity variance for direct labor in may would be closest to:

Should the government be downsized? which functions should be cut back? which ones should be expanded?

Exercise 8-6 goods in transit [lo8-2] the kwok company's inventory balance on december 31, 2016, was $190,000 (based on a 12/31/16 physical count) before considering the following transactions: 1. goods shipped to kwok f.o.b. destination on december 20, 2016, were received on january 4, 2017. the invoice cost was $35,000. 2. goods shipped to kwok f.o.b. shipping point on december 28, 2016, were received on january 5, 2017. the invoice cost was $22,000. 3. goods shipped from kwok to a customer f.o.b. destination on december 27, 2016, were received by the customer on january 3, 2017. the sales price was $45,000 and the merchandise cost $27,000. 4. goods shipped from kwok to a customer f.o.b. destination on december 26, 2016, were received by the customer on december 30, 2016. the sales price was $25,000 and the merchandise cost $18,000. 5. goods shipped from kwok to a customer f.o.b. shipping point on december 28, 2016, were received by the customer on january 4, 2017. the sales price was $30,000 and the merchandise cost $17,000. required: determine the correct inventory amount to be reported in kwok's 2016 balance sheet.

In its 2016 annual report, caterpillar inc. reported the following (in millions): 2016 2015 sales $38,537 $47,011 cost of goods sold 28,309 33,546 as a percentage of sales, did caterpillar's gross profit increase or decrease during 2016? select one: a. gross profit increased from 26.8% to 28.6% b. gross profit decreased from 28.6% to 26.5% c. gross profit increased from 71.4% to 73.2% d. gross profit decreased from 73.2% to 71.4% e. there is not enough information to answer the question.