On January 1, 2007, the ledger of Global Corporation correctly showed supplies inventory of $1,000. During 2007, supplies purchases amounted to $5,000. A count (inventory) of supplies on hand at December 31, 2007, showed $1,200. The 2007 income statement should report supplies expense amounting to

Which is NOT a way to terminate a contract?

a. Rescission b. Release c. Verification d. Novation

The actual margin per unit and margin per unit estimated in the plan are $6 and $8, respectively. The actual volume and the volume estimated in the plan are 5,000 units and 10,000 units, respectively. What is the margin variance of the business?

A) -$10,000 B) $10,000 C) -$20,000 D) $20,000 E) $5,000