Multinational corporations do not have the responsibility nor the incentive to follow international accounting standards as there still is no particular set of global standards that are generally accepted worldwide.
Answer the following statement true (T) or false (F)
False
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Nesbit Co. has two operating (production) departments supported by a number of service departments. The following information was collected for a recent period: ? Direct Costs ??MachiningDepartmentAssemblyDepartmentIndirect CostSalaries$122,400$ 85,700$36,700Insurance 20,20011,0005,500Utilities 23,90013,9002,000Depreciation 20,70011,50013,800Maintenance 7,0004,70029,400Office expenses -0--0-71,100Cost of goods sold 327,600121,200?Indirect costs are allocated as follows: salaries on the basis of sales, office expenses on the basis of the number of employees, and all other costs on the basis of square footage. Additional information about the production departments follows:SquareNumber
ofFootageEmployees Machining14,53578Assembly4,84552Sales for the Machining Department are $724,404 and sales for the Assembly Department are $356,796. Determine the departmental contribution to overhead and the departmental net income for each production department. What will be an ideal response?
How does the “Ethical Culture” survey method of assessing an organization’s ethical performance differ from the assessment method using a code of ethics?
a. It has employees share results of their assessments in small groups. b. It has employees use a Likert scale. c. It has employees independently rate the organization. d. It is only used for organizations that lack a code of ethics.
The cost of merchandise inventory is limited to the purchase price less any purchase discounts
Indicate whether the statement is true or false
To set x-bar chart upper and lower control limits, one must know the process central line, which is the:
A) average of the sample means. B) total number of defects in the population. C) percent defects in the population. D) size of the population. E) average range.