Which of the following is a second-tier department store?
A. Saks Fifth Avenue
B. Nordstrom
C. Macy's
D. TJ Maxx
E. Neiman Marcus
Answer: C
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Blanton Corporation purchased 35% of the outstanding shares of common stock of Worton Corporation as a long-term investment. Subsequently, Worton Corporation reported net income and declared and paid cash dividends. What journal entry would Blanton Corporation use to record the dividends it receives from Worton Corporation?
a. debit Investment in Worton Corporation Stock; credit Cash b. debit Cash; credit Dividend Revenue c. debit Investment in Worton Corporation Stock; credit Income of Worton Corporation d. debit Cash; credit Investment in Worton Corporation Stock
The numbers of vendors, products, and engineering change orders are examples of
a. beneficial relationships. b. potential cost drivers. c. inputs to processing time. d. unavoidable overhead costs.
Which process does a service firm such as a credit card company use to process bills?
A. project process B. batch process C. repetitive process D. unique process
Rolling Hills Construction Rolling Hills Construction Co assigns overhead to specific jobs based on actual direct labor cost (dollars). The following information is available for the month of June: Estimated direct labor hours 2,000 hours Estimated direct labor cost per hour $12/hour Estimated overhead costs $3,000 Actual direct labor hours 2,300 hours Actual direct labor cost per hour $13/hour
Actual overhead costs $3,300 Refer to the Rolling Hills Construction information above. The predetermined overhead rate for the month of June is: A) $0.125 per direct labor dollar B) $1.250 per direct labor dollar C) $0.110 per direct labor dollar D) $8.000 per direct labor dollar