Which of the following statements regarding the manufacturing overhead budget is incorrect?
A) Both fixed and variable manufacturing overhead costs are budgeted.
B) The manufacturing overhead budget calculates the budgeted overhead costs for the year and also the predetermined overhead allocation rate for the year.
C) The cost accountant and the production manager work together to project variable and fixed manufacturing costs.
D) Depreciation on manufacturing equipment is not included because the production manager has no control over that cost allocation.
D
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Metro Facilities, Inc, contracts to sell a parking garage to Nouveau Property Company. The contract pro¬vides that if Metro does not close the deal by September 15, it must pay Nouveau one-half of the contract price. This provision isnot enforceable because it is
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