In the work sheet, if the income statement's total debits exceed the total credits, net income has occurred
Indicate whether the statement is true or false
F
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At the beginning of a research project, you need to
A) develop a formal outline that you plan to stick to throughout your researching and writing. B) familiarize yourself with the subject. C) just jump in by finding resources on the Internet and taking notes. D) develop the conclusion you want to reach and start looking for evidence that supports that conclusion. E) try Google to see if it provides enough information, and if not proceed to databases and other sources.
San Juan Minerals (SJM) has two service departments and two operating departments. Operating data for these departments for last year are as follows: Service DepartmentsOperating Departments MaintenanceCafeteriaMiningProcessingDepartmental costs$48,000$45,000$70,000$130,000Machine hours 2,000 1,000 11,000 9,000Number of employees 40 30 400 360 Costs of the Maintenance Department are allocated on the basis of machine hours. Cafeteria costs are allocated on the basis of number of employees. SJM does not distinguish between variable and fixed overhead costs. Assume that SJM uses the step-down method to allocate service department costs, starting with Maintenance. The total overhead allocated from Maintenance to Mining would be closest to:
A. $22,957 B. $25,143 C. $16,800 D. $51,150
Which of the following costs would be incurred even if no units were produced?
A) raw material costs B) direct labor costs C) transportation costs D) building rental costs E) purchasing costs
One potential rationale for paying dividends is that the payment of dividends indirectly results in a
closer monitoring of management's investment activities, hence lowering agency costs. Indicate whether the statement is true or false