Flagstaff company has budgeted production units of 7,900 for july and 8,100 for august. the direct materials requirement per unit is 2 ounces ( the company has determined that it wants to have safety stock of direct materials on hand at the end of each month to complete 20% of the units budgeted in the following month. there was 3,160 ounces of direct material in inventory at the start of july. the total amount of direct materials in ounces, to be purchased in july is: multiple choice 15,800 oz. 16,200 oz. 15,880 oz. 15,720 oz. 19,040 oz.

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

The sec has historically raised questions regarding the independence of firms that derive a significant portion of their total revenues from one audit client or group of clients because the sec staff believes this situation causes cpa firms to

On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?