Suppose that you work for a lawyer who is just starting his or her practice. What would you do to ensure that the attorney has a presence on the Internet?
What will be an ideal response?
Obtain a unique domain name and a website.
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Aaron, Inc. estimates direct labor costs and manufacturing overhead costs for the coming year to be $750,000 and $550,000, respectively. Aaron allocates overhead costs based on machine hours. The estimated total labor hours and machine hours for the coming year are 18,000 hours and 7000 hours, respectively. What is the predetermined overhead allocation rate? (Round your answer to the nearest cent.)
A) $107.14 per machine hour B) $30.56 per labor hour C) $1.36 per labor hour D) $78.57 per machine hour
Suppose the cycling store uses the LIFO cost-flow assumption. The cost of goods sold is _____, and the ending inventory is _____
a. $2,900; $5,500 b. $2,500; $5,900 c. $3,000; $5,400 d. $2,800; $5,600 e. cannot be determined with the information given
Prior period adjustments ________
A) always increase the beginning balance of retained earnings B) are shown on the statement of retained earnings as corrections to the beginning balance C) can be ignored because the financial statements have already been issued D) must be recorded in the period in which the error occurred
Horizon Corporation makes cell phones. Gina files a product liability suit against Horizon, alleging a design defect. In deciding whether to hold Horizon liable, the court may consider the "reasonableness" of
a. the manufacturer's intentions. b. the seller's method of accounting. c. the manufacturer's quality control efforts. d. an available alternative design.