If a company has no Salaries and Wages Payable on its balance sheet, then one may conclude that:
A. Salaries and Wages Expense was greater than the cash paid for wages during the period.
B. no salaries and wages are owed for the current period.
C. there are salaries and wages to be paid in next period.
D. the salaries and wages were paid in advance.
Answer: B
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Theo’s boss is often described as friendly, cooperative, diplomatic, and sensitive. Theo would be most accurate in saying his boss is high in which major leadership trait?
A. sociability B. intelligence C. conscientiousness D. drive
Gardner Machine Shop estimates manufacturing overhead costs for the coming year at $318,000. The manufacturing overhead costs will be allocated based on direct labor hours. Gardner estimates 5000 direct labor hours for the coming year. In January, Gardner completed Job A33, which used 70 machine hours and 23 direct labor hours. What was the amount of manufacturing overhead allocated to Job A33? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
A) $1463 B) $4452 C) $5915 D) $4543
An advantage of functional departmentalization is that
A. economies of scale can be realized. B. employees are able to focus exclusively on customer satisfaction. C. it encourages managers to become generalists. D. there is increased coordination between different functions. E. managers care more about the company as a whole than just their departments.
A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations:1. The company uses the units-of-production method and the machine produces 70,000 units of product during its first year.2. The company uses the double-declining-balance method.3. The company uses the straight-line method.
What will be an ideal response?