The authority to accept incoming goods in receiving should be based on a(n):
A. bill of lading.
B. materials requisition.
C. approved purchase order.
D. vendor's invoice.
Answer: C
You might also like to view...
The primary purpose of the trial balance is to test the
A) recording of transactions. B) analysis of transactions. C) equality of debit and credit balances in the ledger. D) equality of debit and credit balances in the journal.
In a(n) ________ proposal situation, your audience will not be considering any offers other than yours
A) solicited B) noncompetitive C) unsolicited D) competitive E) external
Plant life that is severed from the land is considered ________
A) intangible property B) immovable property C) real property D) personal property
Carattini Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted manufacturing overhead$360,000 Budgeted hours 36,000labor-hoursStandard hours allowed for the actual production 34,200labor-hoursTotal actual manufacturing overhead$340,376 Actual hours 37,200labor-hoursThe total amount of manufacturing overhead applied is closest to:
A. $340,376 B. $372,000 C. $312,900 D. $342,000