The following data is given for the Taylor Company: Budgeted production 1,000 units Actual production 980 units Materials: Standard price per lb $2.00 Standard pounds per completed unit 12 Actual pounds purchased and used in production 11,800 Actual price paid for materials $23,000 Labor: Standard hourly labor rate $14 per hour Standard hours allowed per completed unit 4.5 Actual labor hours
worked 4,560 Actual total labor costs $62,928 Overhead: Actual and budgeted fixed overhead $27,000 Standard variable overhead rate $3.50 per standard labor hour Actual variable overhead costs $15,500 Overhead is applied on standard labor hours. The direct material price variance is:
A) 600F
B) 600U
C) 80F
D) 80U
A
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After establishing its South Africa social investment fund, what did the Lotus Corp. charge it’s newly hired manager to do?
a. Lower safety risks b. Work directly with Black-run information technology projects c. Hire more disabled employees d. Have monthly community stakeholder meetings
A licensor can recover lost profits caused by the licensee's failure to accept or complete
performance of the contract if the contract is a nonexclusive license. Indicate whether the statement is true or false
The Crestar Company reported net income of $112,000 on 20,000 average outstanding common shares. Preferred dividends total $12,000. On the most recent trading day, the preferred shares sold at $50 and the common shares sold at $95. What is this company's current price-earnings ratio?
A. 20 B. 17 C. 19 D. None of these answers is correct.
Barbara, an antique dealer, intentionally misrepresents the value of an antique chest of drawers, as $6,000 when she has reason to know the value is considerably less. Margaret agrees to buy it for $5,500 . It is worth $2,500 . In a state that uses the "out-of-pocket" rule, Margaret's damage award would be:
a. $3,500. b. $3,000. c. $500. d. $2,500.