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Question
Match each of the following terms with the appropriate definitions.(a) Discount on bonds
(b) Callable bonds
(c) Annuity
(d) Debt-to-equity ratio
(e) Sinking fund bonds
(f) Secured bonds
(g) Carrying value
(h) Premium on bonds
(i) Bond indenture
(j) Contract rate
| __________ | (1) Bonds that have specific assets of the issuer pledged as collateral. |
| __________ | (2) A series of equal payments at equal time intervals. |
| __________ | (3) The amount by which the bond issue (selling) price exceeds the bond par value. |
| __________ | (4) Bonds that give the issuer an option of retiring them at a stated dollar amount prior to maturity. |
| __________ | (5) The interest rate specified in the bond indenture. |
| __________ | (6) The contract between the bond issuer and the bondholder(s) that identifies the rights and obligations of the parties. |
| __________ | (7) Bonds that require the issuer to create a fund of assets at specified amounts and dates to repay the bonds at maturity. |
| __________ | (8) The net amount at which bonds are reported on the balance sheet. |
| __________ | (9) The ratio of total liabilities to total stockholders' equity. |
| __________ | (10) The amount by which the bond par value exceeds the bond issue (selling) price |
Answer
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Direct labor X X
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Variable manufacturing overhead
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Direct materials
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Match the following
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Total fixed overhead $85,000
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Cost of goods sold (18,000 $14) 252,000
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Given the Cool Pools Company data, what is net income using absorption costing?
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