A _____ is a statement of how many finished items are to be produced and when they are to be produced
a. capacity requirements plan (CRP)
b. master production schedule (MPS)
c. material requirements plan (MRP)
d. shop floor control
B
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A $310 credit to Supplies was credited to Fees Earned by mistake. By what amounts are the accounts under- or overstated as a result of this error?
A. Supplies, understated $620; Fees Earned, overstated $310. B. Supplies, understated $310; Fees Earned, overstated $310. C. Supplies, overstated $620; Fees Earned, understated $310. D. Supplies, overstated $310; Fees Earned, overstated $310. E. Supplies, overstated $310; Fees Earned, understated $310.
Which inventory cost flow assumption is allowed under U.S. GAAP but not under IFRS? Explain why some U.S. companies will lobby strongly to keep this method as an allowable alternative.
What will be an ideal response?
The process cost summary is an important managerial accounting report prepared for each process or production department.
Answer the following statement true (T) or false (F)
Judicial review can best be described as the power of federal courts to
a. abstain from adjudicating major issues and to leave such matters to legislatures. b. take it upon itself to decide issues on constitutional grounds. c. declare a statue or governmental action unconstitutional and void. d. take private property for public use.