Doakes Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 60,000Total fixed manufacturing overhead cost$378,000Variable manufacturing overhead per direct labor-hour$2.20 Recently, Job M843 was completed with the following characteristics: Number of units in the job 60Total direct labor-hours 120Direct materials$630Direct labor cost$2,400 The unit product cost for Job M843 is closest to:
A. $27.50
B. $50.50
C. $67.50
D. $33.75
Answer: C
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The president of a Mexican company recently remarked, "Business in Mexico is done on a consensus basis, very genteel and sometimes slow by U.S. standards." A few months later, the Mexican company and its U.S. joint venture partner parted company
Judging by the president's remark, one important reason for the "divorce" was: A) failure of one partner to live up to the terms of the contract. B) cultural differences. C) the cancellation of NAFTA. D) the U.S. government's insistence on quick negotiations. E) the language barrier.
A company pays for 25 percent of its purchases by credit terms n/60, 40 percent of its purchases by credit terms n/30, and the remaining 35 percent by a two-month advance payment. The sources for June's cash payments schedule for direct materials would not include which of the following?
A) June's schedule of expected cash payments for direct materials B) August's schedule of expected cash payments for direct materials C) May's schedule of expected cash payments for direct materials D) April's schedule of expected cash payments for direct materials
A limited partnership is not a security for purposes of federal securities law
Indicate whether the statement is true or false
Henry Ford is noted for his contributions to:
A) material requirements planning. B) statistical quality control. C) assembly line operations. D) scientific management. E) time and motion studies.