The Mason Company has a process cost system. All materials are added when the process is first begun. At the beginning of September, there were no units of product in process. During September, 50,000 units were started; 5,000 of these were still in process at the end of September and were 3/5 finished. The equivalent number of units of material in September was A. 40,000. B. 45,000. C. 48,000. D. 50,000. QUESTION: A restaurant has 100 seats with an average turnover of 2.5, and an average check of $14.75. If the restaurant is open 260 days/year, what is the annual sales revenue? Number of seats 100 Seat turnover/day Average check 2.5 $14.75 Estimate annual revenue 260
The Mason Company has a process cost system. All materials are added when the process is first begun. At the beginning of September, there were no units of product in process. During September, 50,000 units were started; 5,000 of these were still in process at the end of September and were 3/5 finished. The equivalent number of units of material in September was A. 40,000. B. 45,000. C. 48,000. D. 50,000. QUESTION: A restaurant has 100 seats with an average turnover of 2.5, and an average check of $14.75. If the restaurant is open 260 days/year, what is the annual sales revenue? Number of seats 100 Seat turnover/day Average check 2.5 $14.75 Estimate annual revenue 260
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:The Mason Company has a process cost system. All materials
are added when the process is first begun. At the beginning
of September, there were no units of product in process.
During September, 50,000 units were started; 5,000 of these
were still in process at the end of September and were 3/5
finished. The equivalent number of units of material in
September was
A. 40,000.
B. 45,000.
C. 48,000.
D. 50,000.
QUESTION:
A restaurant has 100 seats with an average turnover of 2.5, and an
average check of $14.75. If the restaurant is open 260 days/year, what
is the annual sales revenue?
Number of seats
100
Seat turnover/day
Average check
2.5
$14.75
Estimate annual revenue 260
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