Administrative laws are also referred to as ________
A) ordinances
B) regulatory statutes
C) default judgments
D) statements of policy
B
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Morris Company makes one product, and it expects to incur a total of $600,000 in indirect (overhead) costs during the current year. Production of the product for the year is expected to be:
Required:1) Calculate a predetermined overhead rate based on the number of units of product expected to be made during the current year.2) Assuming that direct materials and direct labor costs are $10 and $15, respectively, determine the total cost per unit using the overhead rate you calculated in part (1).
What will be an ideal response?
Swola Company reports the following annual cost data for its single product.Normal production level 75,000unitsDirect materials$1.25per unitDirect labor$2.50per unitVariable overhead$3.75per unitFixed overhead$300,000in total This product is normally sold for $25 per unit. If Swola increases its production to 200,000 units, while sales remain at the current 75,000 unit level, by how much would the company's income increase or decrease under absorption costing?
A. There will be no change in income. B. $187,500 increase. C. $187,500 decrease. D. $112,500 decrease. E. $112,500 increase.
A 65 year-old man is retiring and can take either $500,000 in cash or an ordinary annuity that
promises to pay him $50,000 per year for as long as he lives. Which of the following statements is MOST correct? A) The higher the interest rate, the more likely the man will prefer the $500,000 lump sum. B) If the man expects to live more than 10 years, then he will prefer the annuity. C) If the man is certain the company will not default on its future payments, he should select the $50,000 per year. D) Because of the time value of money, the man will always be better off taking the $500,000 up front.
CERCLA is an Act that:
A) regulates current and future generation, transportation, and disposal of hazardous waste. B) granted to state governments the authority to take removal action in response to a release of hazardous substances. C) requires the federal government to establish a National Contingency Plan. D) All of these.