When using an index number, one sets the first (oldest) number in a series equal to 100
Indicate whether the statement is true or false
T
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The following data relates to Spurrier Company's estimated amounts for next year.Estimated:Department 1Department 2Manufacturing overhead costs$1,100,000 $3,300,000 Direct labor hours 540,000DLH 790,000DLHMachine hours 90,000MH 24,000MH What is the company's plantwide overhead rate if direct labor hours are the allocation base? (Round your answer to two decimal places.)
A. $3.31 per direct labor hour. B. $2.04 per direct labor hour. C. $0.30 per direct labor hour. D. $3.43 per direct labor hour. E. $0.50 per direct labor hour.
Ernie Company acquired Bert Company in January of Year 1. Bert's balance sheet included $700,000 of assets, $250,000 of liabilities and stockholders' equity of $450,000. Ernie agrees to assume the liabilities and pay $480,000 to acquire Bert. An independent appraiser assessed the fair value of Bert's assets to be $630,000. Indicate whether each of the following statements about this transaction is true or false.________ a) Ernie's entry to record the transaction includes a debit to the assets for $700,000.________ b) Ernie's entry to record the transaction includes a debit to liabilities for $250,000.________ c) Ernie will recognize $100,000 of goodwill in recording the acquisition of Bert.________ d) It is impossible for Ernie to estimate the length of life for goodwill.________ e) The
goodwill will be amortized in the same manner as patents. What will be an ideal response?
Target market identification isolates consumers with similar lifestyles, needs, and the like, and increases the knowledge of their specific requirements.
Answer the following statement true (T) or false (F)
A(n) ________ is a contract a principal and agent enter into that says the principal cannot employ another agent other than the one stated.
A. exclusive agency contract B. implied agency contract C. express agency contract D. durable power of attorney