Which of the following costs is classified as both a prime cost and a conversion cost?
A. Variable overhead.
B. Direct materials.
C. Fixed overhead.
D. Direct labor.
Answer: D
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A ________ is designed to reach things belonging to the debtor that are in the hands of third parties.
A. writ of mandamus B. writ of quo warranto C. writ of garnishment D. writ of certiorari
Define the term “demarketing.” What circumstances dictate the choice of demarketing strategy?
What will be an ideal response?
A binding promise or agreement requires that the parties to the agreement have contractual capacity
a. True b. False Indicate whether the statement is true or false
Pangle Corporation has two production departments, Forming and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:??FormingCustomizing?Machine-hours16,00012,000?Direct labor-hours4,0009,000?Total fixed manufacturing overhead cost$91,200$99,000?Variable manufacturing overhead per machine-hour$2.10??Variable manufacturing overhead per direct labor-hour?$3.10During the current month the company started and finished Job M109. The following data
were recorded for this job:?Job M109:FormingCustomizing?Machine-hours5030?Direct labor-hours2050?Direct materials$915$355?Direct labor cost$620$1,550Required:Calculate the total job cost for Job M109. What will be an ideal response?