In a traditional volume-based cost system, total manufacturing costs are calculated by:
A. adding activity cost, direct material cost, and direct labor cost.
B. subtracting manufacturing overhead from selling price.
C. adding manufacturing overhead cost, direct materials cost, and direct labor cost.
D. adding direct material cost and direct labor cost.
Answer: C
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Which balanced scorecard perspectives helps top management's judgment to be better linked to measures of employee actions at lower levels?
A. Operational perspective B. Financial perspective C. Customer perspective D. Internal business perspective E. Innovation and learning perspective
Answer the following statements true (T) or false (F)
1. Sales through credit cards and debit cards are journalized in the same way as sales on account. 2. Proceeds from credit and debit card transactions are deposited on the day of the actual sale. 3. The two common methods of processing credit and debit card transactions are gross and net. 4. A business keeps cash in a bank account because banks have established practices for safeguarding the business's money.
From Jolier's year-end income statement, you observe that the finished goods inventory has doubled during the year. This would indicate that during the year Jolier
A) sold more goods than were produced. B) produced more goods than last year. C) produced more goods than were sold. D) sold more goods than last year.
The APA encourages agencies to use alternative dispute resolution
a. True b. False