A financing statement must be authorized to be valid
Indicate whether the statement is true or false
True
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On the government-wide statement of activities, depreciation expense for assets that essentially benefit all functions, such as the city hall, may be reported as a separate line item or on the same line as the General Government or similar function.
Answer the following statement true (T) or false (F)
Miguez Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 2.3liters$7.00per liter$16.10 Direct labor 0.7hours$22.00per hour$15.40 Variable overhead 0.7hours$2.00per hour$1.40 The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed
when the materials are purchased.The variable overhead rate variance for September is: A. $175 F B. $168 F C. $168 U D. $175 U
A product's purchase cost plus the discounted cost of maintenance and repair less the discounted salvage value is known as the product's activity cost
Indicate whether the statement is true or false
Jupiter Services sells service plans for commercial computer maintenance. The price for each service plan is $1,650 per year, paid in advance. On October 1, 2018, a service plan was sold to a new customer for cash. Prepare the journal entry to record this transaction. Omit explanation.
What will be an ideal response?