A market where securities are are bought from or sold to a market maker is known as a
A) broker market.
B) dealer market.
C) exchange floor.
D) board of exchange.
Answer: B
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Each employee is responsible for limited functions under _____
a. independent ownership b. specialization c. centralization d. a branch-store system
Ordering costs include ______.
a. warranty costs b. the cost of inspecting goods received for quality and quantity c. costs of scrap d. costs of rework
Dixie Highway Corporation manufactures products J, K, and L in a joint process. The company incurred $480,000 of joint processing costs during the period just ended and had the following data that related to production:??Sales values and Additional cost if Processed Beyond Split-offProductSales Value at Split-offSales ValueAdditional costJ$400,000$550,000$130,000K350,000540,000240,000L850,000975,000118,000An analysis revealed that all costs incurred after the split-off point are variable and directly traceable to the individual product line.Required: A. If Dixie Highway allocates joint costs on the basis of the products' sales values at the split-off point, what amount of joint cost would be allocated to product J?B. If production of J totaled 50,000 gallons for the period,
determine the relevant cost per gallon that should be used in decisions that explore whether to sell at the split-off point or process further? Briefly explain your answer.C. At the beginning of the current year, Dixie Highway decided to process all three products beyond the split-off point. If the company desired to maximize income, did it err in regards to its decision with product J? Product K? Product L? By how much? What will be an ideal response?
Barbeau Corporation has two production departments, Milling and Customizing. 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 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: MillingCustomizingMachine-hours 17,000 13,000Direct labor-hours 2,000 5,000Total fixed manufacturing overhead cost$119,000$42,000Variable manufacturing overhead per machine-hour$1.60 Variable manufacturing overhead per direct labor-hour $4.30During the current month the company started and finished Job A492. The following data were
recorded for this job:Job A492:MillingCustomizingMachine-hours 90 20Direct labor-hours 20 50The amount of overhead applied in the Milling Department to Job A492 is closest to: (Round your intermediate calculations to 2 decimal places.) A. $144.00 B. $146,200.00 C. $756.00 D. $774.00