Under a contract with Fresh Farm LLC for a delivery of vegetables, Growers Mart refuses to pay for some of the produce. The buyer contends that the practice in the trade with respect to payment for spoiled produce justifies its refusal to pay. Growers Mart is arguing that the court should take into account

A) course of dealing.
B) course of performance.
C) usage of trade.
D) none of the choices.

The Clayton Act exempted ________________ from prosecution under the Sherman Act.

Materials costs of $600000 and conversion costs of $642600 were charged to a processing department in the month of September. Materials are added at the beginning of the process while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process 100000 units were started into production in September and there were 8000 units in ending work in process that were 40% complete at the end of September. What was the total amount of manufacturing costs assigned to the 8000 units in the ending work in process?

A) $48000.
B) $21600.
C) $40800.
D) $69600.

Jay Inc. owns 80% of Tesla Inc. and uses the cost method to account for its investment. The 2020 income statements of both companies are shown below. $$\begin{array}{lrr}& \text{ Jay }& \text{ Tes1a }\\ \text{ Gross Profit }& \$100,000& \$50,000\\ \text{ Miscellareous }& \$30,000& \$20,000\\ \text{ Reverues/Losses }& & \\ \text{ Depreciation Expense }& \$20,000& \$15,000\\ \text{ Income Tax Expense }& \$20,000& \$6,000\\ \text{ Net Income }& \$30,000& \$9,000\end{array}$$ On January 1, 2020, Tesla sold equipment to Jay at a profit of $3,000. The equipment had a remaining useful life of twenty years on that date. Both companies are subject to an effective tax rate of 40%.
The amount of deferred taxes appearing on Jay's 2020 Consolidated Statement of Financial Position would be:

A) nil.
B) $1,000.
C) $1,140.
D) $2,550.

Income from operations divided by invested assets

A) Controllable revenues
B) Profit margin
C) Investment turnover
D) Return on investment
E) Residual income

Profit per unit is maximized when the difference between ________ and ________ is at a maximum.