Gerstein Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $90,000, variable manufacturing overhead of $3.70 per direct labor-hour, and 50,000 direct labor-hours. The company recently completed Job M800 which required 150 direct labor-hours.The amount of overhead applied to Job M800 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $1,380
B. $825
C. $555
D. $270
Answer: B
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When merchandise is acquired on account and the perpetual system of inventory is used, the journal entry for the purchase would include
a. debiting Purchases and crediting Accounts Payable. b. debiting Accounts Payable and crediting Merchandise Inventory. c. debiting Merchandise Inventory and crediting Accounts Payable. d. debiting Accounts Payable and crediting Purchases.
The distinguishing feature of purchase and media panels is that the respondents record specific behaviors as they occur
Indicate whether the statement is true or false
Which of these is not a requirement of internal mechanisms for reporting wrongdoing within an organization?
A. They must allow anonymity. B. They must report to legal authorities. C. They must protect the rights of the accused. D. They must be effective.
Identify two actions other than the purchase of a good or service that could be measured through calculation of a conversion rate
What will be an ideal response?