Boward Corporation has two production departments, Milling and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Assembly 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: MillingAssemblyMachine-hours 18,000 12,000Direct labor-hours 2,000 7,000Total fixed manufacturing overhead cost$120,600$76,300Variable manufacturing overhead per machine-hour$2.00 Variable manufacturing overhead per direct labor-hour $4.30 During the current month the company started and finished Job T818. The following data were recorded
for this job: Job T818:Milling AssemblyMachine-hours50 30Direct labor-hours10 40 The total amount of overhead applied in both departments to Job T818 is closest to:
A. $608
B. $435
C. $1,651
D. $1,043
Answer: D
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A. headline B. body copy C. logo D. visual E. subhead
An oil well cost $1,782,500 and is calculated to hold 150,000 barrels of oil. There is no residual value. Which journal entry is needed to record the expense for the extraction of 40,000 barrels of oil during the year? All 40,000 barrels were sold during the year. (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)
A) Cost of Goods Sold - Oil Reserve 475,200 Accumulated Depletion - Oil Reserve 475,200 B) Depletion Expense - Oil Reserve 475,200 Oil Revenue 475,200 C) Depletion Expense - Oil Reserve 475,200 Accumulated Depletion - Oil Reserve 475,200 D) Oil Reserve Inventory 475,200 Accumulated Depletion - Oil Reserve 475,200
Which of the following accounts is most likely to appear on the balance sheet as a current liability?
A) Accumulated Depreciation B) Bonds Payable C) Mortgage Payable D) Wages Payable
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A. The constant growth model takes into consideration the capital gains investors expect to earn on a stock. B. Two firms with the same expected dividend and growth rate must also have the same stock price. C. It is appropriate to use the constant growth model to estimate a stock's value even if its growth rate is never expected to become constant. D. If a stock has a required rate of return rs= 12%, and if its dividend is expected to grow at a constant rate of 5%, then the stock's dividend yield is also 5%. E. The price of a stock is the present value of all expected future dividends, discounted at the dividend growth rate.