A mainframe computer is designed to meet the computing needs of hundreds of people in a large business environment. Mainframe computers are a step up in size, power, capability, and cost from minicomputers.
Answer the following statement true (T) or false (F)
True
A mainframe computer is designed to meet the computing needs of hundreds of people in a large business environment. Mainframe computers are a step up in size, power, capability, and cost from minicomputers.
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Which of the following statements is TRUE of absorption costing?
A) It considers variable selling and administrative costs as product costs. B) It considers fixed selling and administrative costs as product costs. C) It considers fixed manufacturing overhead cost as product costs. D) It considers variable manufacturing overhead cost as period costs.
Nissley Wedding Fantasy Corporation makes very elaborate wedding cakes to order. The owner of the company has provided the following data concerning the activity rates in its activity-based costing system:Activity Cost Pools Activity RateSize-related$1.13per guestComplexity-related 28.22per tierOrder-related$74.72per orderThe measure of activity for the size-related activity cost pool is the number of planned guests at the wedding reception. The greater the number of guests, the larger the cake. The measure of complexity is the number of tiers in the cake. The activity measure for the order-related cost pool is the number of orders. (Each wedding involves one order.) The activity rates include the costs of raw ingredients such as flour, sugar, eggs, and shortening. The activity rates do
not include the costs of purchased decorations such as miniature statues and wedding bells, which are accounted for separately.Data concerning two recent orders appear below: Tijerina WeddingTwersky WeddingNumber of reception guests 49 126Number of tiers on the cake 2 4Cost of purchased decorations for cake$28.60$54.64Assuming that the company charges $465.39 for the Twersky wedding cake, what would be the overall margin on the order? A. $80.77 B. $135.41 C. $384.62 D. $155.49
A U.S. company makes a sale to a foreign customer receivable in 30 days in the customer's currency. The sale would be recorded by the U.S. company on the date:
A. Of sale using the foreign currency value. B. Of sale using a projected estimate of the U.S. dollar value at payment date. C. Of sale using the current dollar value. D. When payment is received. E. Of sale using a 30-day average U.S. dollar value.