When a manufacturing company uses a standard cost system, an unfavorable variance is a contra expense
Indicate whether the statement is true or false
FALSE
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A surprise observation by an auditor of an entity's regular distribution of paychecks is primarily designed to satisfy the auditor that:
A. all unclaimed payroll checks are properly returned to the cashier. B. all employees have in their possession proper employee identification. C. names on the company payroll are those of bona fide employees presently on the job. D. the paymaster is not involved in the distribution of payroll checks.
Which of the following is not one of the pension expense components that a company recognizes?
A) expected return on plan assets B) service cost C) amortization of prior service cost D) administrative cost
If Department K had 2,000 units, 45% completed, in process at the beginning of the period, 12,000 units were completed during the period, and 1,200 units were 40% completed at the end of the period, what was the number of equivalent units of production for the period if the first-in, first-out method is used to cost inventories?
A) 11,580 B) 11,280 C) 13,680 D) 10,000
The executive branch of the U.S. government has the power to pardon federal offenders
Indicate whether the statement is true or false