If all of a resource represented by a slack variable is used, that slack variable will not be in the production mix column of a linear programming simplex tableau
Indicate whether the statement is true or false
TRUE
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Answer the following statements true (T) or false (F)
1. Managers should look at any variance that is significant. 2. A direct labor efficiency variance is favorable if laborers actually work more hours than the flexible budget calls for to produce the actual quantity of output. 3. A direct labor cost variance is unfavorable if the employer pays workers more per hour than budgeted. 4. When investigating variable overhead variances, management needs to determine whether cost increases were controllable or if the cost standard needs to be updated. 5. In a standard cost system, the standard overhead allocation rate replaces the predetermined overhead allocation rate but the concept is the same.
Speaking from memory is also known as ______ and requires considerable skill and speaking expertise.
a. rhetoric b. extemporaneous speaking c. oratory d. monologue
Because it is a necessary financial statement, the work sheet must be prepared according to specified accounting procedures.
Answer the following statement true (T) or false (F)
Martin purchased an annuity contract at the beginning of 2002 for $84,000. The contract specifies that he will receive $2,000 per month for life. Martin receives his first payments on July 1, 2014, when he was 67 years old. Martin dies on August 15, 2019 (the August payment was received prior to his death). What amount, if any, should be deducted on Martin's 2019 tax return as a result of failing to receive his expected return on the annuity contract?
A. $54,400 can be claimed as a deduction on his final return. B. $59,200 can be claimed as a deduction on his final return. C. $1,600 can be claimed as a deduction on his final return. D. No deduction is reported because a decedent is not required to file a final return.