As of December 31, 2021, Warner Corporation reported the following: Cash dividends payable$39,000 Treasury stock 790,000 Paid-in capital—share repurchase 39,000 Common stock and other paid-in capital accounts 5,900,000 Retained earnings 4,900,000 During 2022, half of the treasury stock was resold for $278,000; net income was $790,000; cash dividends declared were $1,690,000; and stock dividends declared were $690,000. The 2022 sale of half of the treasury stock would: Multiple Choice Reduce income before tax by $117,000 Increase total shareholders' equity by $395,000 Reduce retained earnings by $117,000 Reduce retained earnings by $78,000

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

Which one of the following statements is true? ddt does not prevent disease from passing from agricultural animals to humans. cost was a major factor in the united states government's decision to ban ddt. many african governments concluded that the potential long-term health effects of ddt were not as serious as the immediate problem of insect control. ddt cannot accumulate in the fat of animals. the ddt ban in the united states has made it very difficult to control agricultural insect pests.

Which of the following would not generally be a motive for a firm to hold inventories? a. to decouple or separate parts of the production process b. to provide a stock of goods that will provide a selection for customers c. to take advantage of quantity discounts d. to minimize holding costs e. all of the above are functions of inventory.