Which of the following yields the standard direct material cost?
A) Multiplying the standard price of direct materials by the standard quantity for direct materials
B) Adding the standard price of direct materials to the standard quantity for direct materials
C) Multiplying the actual price of direct materials by the actual quantity for direct materials
D) Adding the actual price of direct materials to the actual quantity for direct materials
A
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Normal expenditures for repairs and maintenance to plant and equipment are accounted for by
a. debiting Equipment and crediting Cash and Supplies Inventory. b. debiting Repairs Expense and crediting Cash and Supplies Inventory. c. debiting Cash and Supplies Inventory and crediting Repairs Expense. d. debiting Cash and Supplies Inventory and crediting Equipment.
The U.S. Constitution ________.
A. cannot be amended B. has only been amended by the Bill of Rights C. provides that it may be amended and was last amended with the Fourteenth Amendment D. allows for amendments, and currently there are twenty-seven amendments
In its first year of operations, Grace Company reports the following: Earned revenues of $60,000 ($52,000 cash received from customers); Incurred expenses of $35,000 ($31,000 cash paid toward them); Prepaid $8,000 cash for costs that will not be expensed until next year. Net income under the cash basis of accounting is:
A. $21,000. B. $13,000. C. $25,000. D. $17,000. E. None of the answer choices is correct.
Agendas, minutes of meetings, progress reports, and procedures are usually organized by importance
Indicate whether the statement is true or false