5. value: 10.00 points Requirement 3: Assume that in the following year the company expects to produce 50,000 units and manufacturing overhead is fixed. What average cost per unit and total cost would you expect to be incurred for direct materials? For manufacturing overhead? (Assume that direct materials is a variable cost.) (Round your Per unit answers to 2 decimal places and use the same in the calculation of Total. Omit the “S” sign in your response.) Per unit Total Direct materials $ Manufacturing overhead References Leaming Objective: 02-04 Propare a schedul manufactured Learning Objective: 02-02 Understand cost classifications used to prepare financial statements product costs and period costs Worksheet Eearnina 0becive 02-05 Understand cost plas 60st bohvor Variable costs and iked cosis Leaming Cbjective: 02-03 Prepare nincome statement including caloulation of he cost of goods sold Learning Objective: 02-01 Identify and give examples of each of the three basic manufacturing cost 60

1. Thecollective attitudes that citizens have about political issues, events andpeople are calleda. political gossipb. political valuesc. public opiniond. political agendas2. The set of beliefs and values as awhole forming a person’s beliefs about what government should be like iscalleda. political ideologyb. political valuesc. public opiniond. political3. What are reasons people participate inpolitics?a. influence policies made by government.b. affect the outcome of elections.c. protest a government decision.d. All of these are correct.4. Acts of political participationa. are allowed by law.b. include voting and writing letters toone’s representative.c. are not sanctioned by law.d. Both a and b are correct.5. An Exit Poll would be a(n)a. sample using a target population thatis split into subgroups.b. form of telemarketing disguised as apoll intended to give information (usually false) with the goal of influencing public opinion.c. poll conducted on election day to tryand predict election outcomes before the votes are counted.d. nonprobability sample in which theresearcher randomly invites respondents to participatein the survey.e. unscientific mechanism to gauge publicopinion.6. Usually one of the least expensive waysto get an accurate sample is aa. random sampleb. cluster samplec. raw data sampled. none of the above7 One of the most infamous inaccurate pollsever due to the method of conducting the poll wasthe_______________ ?a. Literary Digest Pollb. Harris Pollc. Gallop Polld. None of the above8. Peoples political party preferences areacquired froma. their familiesb. the region of the country they live inc. their educationd. all of the above9. The term gender gap refers todifferences between men and women ina. political opinionsb. income levelc. moralityd. education10. What are agents of socializationa. family networksb. peersc. social networksd. all of the above11. The term which refers to the collectivepolitical opinions of a societya. popular opinionb. majority opinionc. public opiniond. neither of the above12. Generally accepted American valuesinclude:a. Libertyb. Democracyc. Equality of opportunityd. all of the above13. The outcome of a poll can be effected bya. the phrasing of the questionsb. the order of the questionsc. the interviewerd. all of the abovee. a and b only14. Parents, Peers, Religion ,andDemographics are alla. irrelevantb. responsible for the problemsindividuals facec. are agents of political socializationd. unrelated a person’s political opinions15. The poll tax wasa. a fee to be paid to register to vote.b. intended to discriminate againstblacks.c. declared unconstitutional in state andlocal elections with the passage of the Twenty Fourth Amendment.d. Both a and b are correct.16. Political action committeesa. are financial arm of corporations,labor unions and special interest groups.b. can contribute maximum of $5,000 percandidate per election if they contribute to at least five levels of federal candidates each year.c. have declined in the 1990s.d. Both a and b are correct.17. When P.R. firms try to create theimpression in Congress that a political position has tremendous grassroots support byhiring people to cause constituents to make contact with congress, that is referred to asa. skimming the Congressb. scamming the Congressc. groundswell politicsd. Astroturf18. Cesar Chavez organized thea. National Farm Workers Association/UFWb. Teamsters Unionc. AFL-CIOd. none of these are correct19. A magazine as a benefit given to membersof an interest group would be considered closestto which type of benefit?a. Purposive benefitb. Solidary benefitc. Materialbenefitd. Neither20. Whichof the following is not a group or faction that has an large impact on the government?a. themediab. interestgroupsc. politicalparties d. politicalscientists21. Anorganized group that seeks to influence the government through winningelections.a. politicalparty b. government corporation c. interest groupd. political faction22. Thetwo major political parties in the United States area. Independent and Conservative. b. Democrats and Republicans.c. Liberal and Conservative.d. Intellectual and Independent.23. Thefounders’ viewed political parties asa. necessary for good government.b. constructive entities. c. selfish groups.d. the fourth branch of government.24. Thenation’s first two parties can be traced to thea. Liberals and Conservatives. b. Moderates and Extremists. c. Federalists and Anti-Federalists.d. Democrats and Whigs.25. Accordingto the text, which of the following evolved into today’s Republican Party?a. Jacksonians.b. Federalists. c. Libertarians.d. Tories.26. TheLibertarian Party is an example ofa. a radical third party.b. an issue-based third party. c. an interest group.d. an ideological third party.27. Inboth 2008 Senate Races Candidates the average winner spenta. 1 million dollars b. 2 million dollars c. 3 million dollarsd. 4 million dollars28. A(n)______________consistsof people who share a cause or concern and organize into a group in an attempt to influencelegislation.a. political party. b. interestgroup.c. political faction.d. lobbyist group.29. Theyare hired by interest groups to communicate with government authorities.a. consultants. b. lobbyists. c. media advisors.d. committee chairs.30. Most lobbyists are formera. used car salesmen.b. political scientists. c legislators. d. judges.31. Thekey to being a successful lobbyist is havinga. connections with the courts.b. the support of the media. c. access to the lawmakers.d. a celebrity endorsement.32 The case of Citizens United v. FEC (2010) has had great impact upona. voter IDb. voter registrationc. campaign financed. none of the above33. Thisfeature of our system hampers 3rd Parties chances of successa. Winner Take All (plurality) systemb. Single member district system, forallocation of seatsc. a and bd. neither a nor b35. Thesegroups are not covered by campaign spending restrictionsa. 501 c(4) sb. 527s c. SUPER PACS/Independent expenditurecommitteesd. all are exempt from campaign spendingrestrictions36. TheWhig Party changed its name during thea. Progressive Era.b. Civil Rights Era. c. Great Depression.d. Civil War Era.37. TheNAACP and MADD are examples ofa. political parties.b. extremist fringe groups. c. anti-government factions. d. interest groups.38. The1996 presidential candidate of the Reform Party wasa. Ross Perot.b. Colin Powell.c. George Bush.d. Al Gore.39. Interestgroups hire these people to communicate with government authorities.a. campaign managers b. lobbyists c. media consultants d. retirees40. Whichof the following do interest groups lobby?a. the courts b. the executive branch c. the Congress d. all of the above41. TheNAACP has been most known for usinga. the executive branch.b. the media. c. the courts. d. the private businesses.42. Whichof the following is forbidden from contributing to a PAC?a. a corporation b. a member of a political party.c. a private US citizen. d. all of the above.43. Incumbentsare more likely to win elections becausea. of name recognition. b. they campaign harder.c. of their high ethics. d. fewer people know them well.44. Thisagency has authority to regulate federal elections.a. Federal Political Commission. b. Federal Election Commission. c. Federal Communications Commission. d. Federal Equal Time Commission.45. America’sfirst parties were formeda. due to differences in race. b. due to opinions about the function of anational government. c. due to the Women’s suffrage movement. d. due to foreign policy differences.46. Whichof the following third (minor) Parties has been most successful in presidential elections.a. Libertarian Party. b. Reform Party/ United We Stand Party. c. Democratic Party. d. Green Party.47. Theright of interest groups to gather and speak is protected bya. the Declaration of Independence. b. the Magna Carta. c. the First Amendment.d. the 27th Amendment.48. Thisinterest group formed to educate the public about drunk drivers.a. NAACP b. Mothers Against Drunk Driving c. American Medical Association d. American Distilleries Alliance49. A”friend of the court” brief is calleda. ad valorem. b. corpus delecti.c. amicus curiae.d. habeas corpus.50. People participate in politics in ordertoa. influence policies made by government.b. affect the outcome of elections.c. protest a government decision.d. All of these are correct.51. All of these are considered to besignificant reasons for voting excepta. It gives government politicallegitimacy.b. It links individuals to the politicalsystem.c. It protects individuals and groups fromgovernmental abuses.d. It reduces individual benefits at theexpense of public good.52. The major source of restrictions on voterparticipation in the past was thea. federal government.b. state government.c. city government.d. county government.53. Which Article to the Constitution givesstates the power to determine voter qualifications?a. Ib. IIc. IIId. IV54. Who intervened to remove state imposedrestrictions on participation?a. Members of Congress.b. Members of the Supreme Court c. Members of State Legislatured. Both a and b are correct.55. Which statement is correct?a. The greatest number of amendments tothe Constitution on any issue deal with voting rights.b. The greatest number of amendments dealwith change in the structure of federal government.c. The limitations on voting rights wereset aside by the Fifteenth Amendment.d. Both a and c are correct.56. The legal devices created by many statesto prevent blacks from voting became known asa. Jim Crow Laws.b. Jim Wells Laws.c. State’s Rights Laws.d. None of these are correct.57. All of these are examples of Jim CrowLaws excepta. Black Primaryb. White Primaryc. Literacy Testd. Grandfather Clause58. The poll tax wasa. a fee to be paid to register to vote.b. intended to discriminate againstblacks.c. declared unconstitutional in state andlocal elections with the passage of the Twenty Fourth Amendment.d. Both a and b are correct.59. What Supreme Court case declared thegrandfather clause unconstitutional?a. Guinn v. U.S.b. Smith v. Allwrightc. Harper v. Virginia Board of Electionsd. Brown v. Board of Election60. The congressional act that suspended theliteracy test as a condition for voting is called thea. Voting Rights Act of 1965.b. Civil Rights Act of 1964.c. Universal Suffrage Rights of 1910.d. None of these are correct.61. All of these are requirements for voterqualifications excepta. 21 Years of Ageb. American Citizenc. Registered Voterd. Residency62. The reason for registration requirementis toa. avoid electoral fraud.b. make sure he/she is a citizen.c. make sure he/she is a partisan voter.d. Both a and b are correct.63. The major reason for the passage of theNational Voter Registration Act of 1993 wastoa. identify those who were naturalizedAmerican citizens.b. determine why minority voters tend tovote less frequency.c. encourage greater electoralparticipation.d. reduce the frequency of electoralparticipation.64. In which state are voters not required todeclare their party preference in the primary until at they arrive at the polls? and not before?a. Texasb. Tennesseec. Virginiad. All of the above65. _______________was spent in National,state and local elections in 2012?a. $5 Billionb. $ 2 Billionc. $1 Billiond. $300 million67. Which statement is correct?a. 527 committees and super PACs weredesigned to get around the restrictions of McCain- Feingold b. McCain-Feingold was designed to reducethe power PACs.c. 501c(4)s and 527s and super PACs canspend far more that PACs.d. All of these are correct.68. Voter turnout rate is lower in Americanthan most of other industrial democracies becausea. the frequency of election is higher inAmerican than Europe.b. more party choices are given toEuropean voters than American voters.c. the American party system lacks a majorleft-wing socialist party.d. All of these are correct.69. Which country has had the highest turnoutin recent elections?a. Switzerlandb. Australiac. Great Britaind. South Africa70. Primary election is helda. prior to the general election.b. after the convening of generalelection.c. to allow voters who identify themselveswith a particular party to select nominees.d. Both a and b are correct,71. Which device, in nominating candidates,is considered to be democratic?a. Caucusb. Conventionc. Primaryd. Both a and b.72. The dual primarya. is prevalent only in most of thesouthern states.b. requires a candidate to receive aplurality of votes in order to be nominated.c. requires a candidate to receive amajority of votes in order to be nominated.d. Both a and c are correct.73. Which election is used to determine whowill occupy an elected office?a. general electionb. special electionc. primary electiond. recall election74. Which Supreme Court case decided thatgiving money to one’s own campaign is a form of free speech?a. Buckley v Valeob. McCulloch v. Marylandc. Brown v. Board of Educationd. None of these.75. How much can an individual contribute perelection to any candidate’s campaign?a. $20,000b. $1,000c. $2,000d. unlimited

Discuss property the importance of earnings management, and the role that ethics plays in its reporting. What policies and internal procedures would you consider being the minimum necessary to instill confidence in earnings reports? How and why would you supplement those?

Balanced Books Bookkeeping Case

Case Study 21-2, p 769

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Case study

212 Balanced Books Bookkeeping Jessica and David are student
interns at Balanced Books Bookkeeping They have taken several business math
and accounting classes and are now applying what they have learned to real-
life situations They enjoy their internship, but they are sometimes surprised
by the assignments they are given Luckily, they work together, so they share
the assignments and learn from each other Their most recent assignment is to
take a listing of accounts provided by one of Balanced Books’ clients and turn
them into a balance sheet and income statement David suggests that their
client might appreciate it if they also performed a vertical analysis of each
statement Jessica suggests that they should also compute the current ratio and
the acid- test ratio 1 Create the financial statements for December 31, 2011,
depict them in vertical format, and compute the current and acid test ratios
Account title Amount Account title Amount Cash $ 4,000 Accounts payable $ 3,500
Depreciation 2,000 Merchandise inventory 15,000 Carlton, equity 34,500 Accounts
receivable 6,000 Cost of goods sold 85,000 Net sales 120,000 Rent expense
15,000 Insurance payable 500 Wages payable 1,500 Equipment 15,000 Utilities
6,500 Wages 8,000 Miscellaneous expenses 1,500