Define indirect service
Used in situations where freight is moving long distances between continents or facilities that are not directly accessible by the mode of choice. In this type of service, freight flows are interrupted by interim stops and transfers of freight between carriers and modes.
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What will be an ideal response?
The Harold Corporation just started business in January of 2010. They had no beginning inventories. During 2010 they manufactured 12,000 units of product, and sold 10,000 units. The selling price of each unit was $20. Variable manufacturing costs were $4 per unit, and variable selling and administrative costs were $2 per unit. Fixed manufacturing costs were $24,000 and fixed selling and
administrative costs were $6,000. What would be the Harold Corporations Net income for 2010 using absorption costing? A) $114,000 B) $110,000 C) $4,000 D) $106,000
In a process cost system, the cost of completed production in Department A is transferred to Department B by which of the following entries?
A) Debit Work in Process--Dept. B; credit Work in Process--Dept. A. B) Debit Work in Process--Dept. B; credit Finished Goods--Dept. A. C) Debit Work in Process--Dept. B; credit Cost of Goods Sold--Dept. A. D) Debit Finished Goods; credit Work in Process--Dept. B.
The fixed overhead cost variance measures the difference between actual fixed overhead and budgeted fixed overhead to determine the controllable portion of total fixed overhead variance
Indicate whether the statement is true or false