Whenever total supply is less than total demand in a transportation problem, the LP model does not determine how the unsatisfied demand is handled
a. True
b. False
Indicate whether the statement is true or false
True
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The stakeholders determine the decision-making process.
a. True b. False
On January 1, Year 1, the organizers of Fredonia Corporation obtained their charter authorizing 400,000 shares of $2 par common stock. Fredonia issued 30,000 shares of $2 par common stock for $8 per share. During Year 1, the corporation earned $820,000 in cash revenue and paid $700,000 in cash expenses, not including income tax. The company declared and paid cash dividends totaling $28,000. Fredonia Corporation is in the 30% tax bracket. Required:Using the above information, prepare an income statement and a balance sheet for the Fredonia Corporation.
What will be an ideal response?
Rocher Corporation has two production departments, Casting and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Finishing 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:??CastingFinishing?Machine-hours17,00013,000?Direct labor-hours4,0006,000?Total fixed manufacturing overhead cost$124,100$52,200?Variable manufacturing overhead per machine-hour$2.30??Variable manufacturing overhead per direct labor-hour?$4.00During the current month the company started and finished Job A394. The following data were
recorded for this job:?Job A394:CastingFinishing?Machine-hours8020?Direct labor-hours1040Required:a. Calculate the estimated total manufacturing overhead for the Casting Department.b. Calculate the predetermined overhead rate for the Casting Department.c. Calculate the amount of overhead applied in the Casting Department to Job A394. What will be an ideal response?
A transportation firm that is available for hire by one or several shippers is a private carrier.
Answer the following statement true (T) or false (F)