Knowledge check 01 provided below is summary income statement data for freedom corporation. amount sales $ 800,000 cost of goods sold 350,000 operating expenses 180,000 other expense 30,000 income tax expense 20,000 net income $ 220,000 using vertical analysis, what percentage is applicable to cost of goods sold? multiple choice 35.0% 43.8% 56.2% 62.9%

Turrubiates corporation makes a product that uses a material with the following standards standard quantity 8.0 liters per unit standard price $2.50 per liter standard cost $20.00 per unit the company budgeted for production of 3,800 units in april, but actual production was 3,900 units. the company used 32,000 liters of direct material to produce this output. the company purchased 20,100 liters of the direct material at $2.6 per liter. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for april is:

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.

Which investment has the liquidity and can be converted into cash easily?