Witten Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Customer Served Revenue $ 6,600 Employee salaries and wages $ 55,100 $ 1,000 Travel expenses $ 600 Other expenses $ 43,100 A total of 27 customers were actually served during January. The revenue in the company's flexible budget for January would have been closest to:

Which of the following statements is correct? a. the managers of established, stable companies sometimes attempt to get their state legislatures to remove rules that make it more difficult for raiders to succeed with hostile takeovers. b. hostile takeovers are most likely to occur when a firm's stock is selling below its intrinsic value as a result of poor management. c. stockholders in general would be better off if managers never disclosed favorable events and therefore caused the price of the firm's stock to sell at a price below its intrinsic value. d. the efficiency of the u.s. economy would probably be increased if hostile takeovers were absolutely forbidden. e. in general, it is more in bondholders' interests than stockholders' interests for a firm to shift its investment focus away from safe, stable investments and into risky investments, especially those that primarily involve research and development. icon key question 6 of 10 b multiple choice 01-060