A production run incurs a fixed cost of $10,000 plus a variable cost $15 per book printed. Books are sold for $130 per copy. Any demand that cannot be met incurs a penalty cost of $20 per book, due to the loss of goodwill. Up to 500 of any leftover books can be sold to a discount bookstore for $35 per book. The publisher is interested in maximizing expected profit. The following print run sizes are under consideration: 0 (no production run) to 16000 in increments of 2000. The publisher wants to determine the size of the print run through simulation. (That is, the publisher wants to determine how many copies of the current edition should be printed before the new edition comes out.)

Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

During 2016, nike inc., reported net income of $3,760 million. the company declared dividends of $1,022 million. the closing entry for dividends would include which of the following? select one: a. credit cash for $1,022 million b. credit dividends for $1,022 million c. debit net income for $1,022 million d. credit retained earnings for $1,022 million e. debit dividends for $1,022 million