The three basic types of cash-related activities that every business faces are:
A) investing, working capital management, and financing.
B) financing, operations, and investing.
C) working capital management, financing, and budgeting.
D) capital budgeting, investing, and cash management.
B
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Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates: MoldingAssemblyTotalEstimated total machine-hours (MHs) 4000? 6000? 10,000.00?Estimated total fixed manufacturing overhead cost$18,000?$33,000?$51,000?Estimated variable manufacturing overhead cost per MH$3.00?$6.00? During the period, the company started and completed two jobs--Job E and Job M. Data concerning those two jobs follow: Job EJob MDirect materials$16,000?$9400?Direct labor cost$22,700?$9700?Molding machine-hours 1250? 2750?Assembly machine-hours 1250? 4750?Required:a. Assume that the company uses a plantwide predetermined manufacturing overhead
rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.)b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.)c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job E. (Do not round intermediate calculations.)d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 80% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2 decimal places.)f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. What is the departmental predetermined overhead rate in the Assembly department? (Round your answer to 2 decimal places.)g. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. How much manufacturing overhead will be applied to Job E? (Do not round intermediate calculations.)h. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.)Predetermined overhead rate?per MHManufacturing overhead applied??Manufacturing cost??Selling price??Forming predetermined overhead rate?per MHCustomizing predetermined overhead rate?per MHManufacturing overhead applied job L??Selling price for job L?? What will be an ideal response?
What type of efficiency exists when competition among individual producers drives all but the lowest-cost producers of goods or services out of the market?
a. Allocative b. Economic c. Strategic d. Productive
Which of the following is NOT a strength of OD practice today?
a. The systemic orientation that practitioners bring b. The techniques and processes used c. Different definitions d. Humanistic values
Because fraud actions necessarily involve wrongful conduct, courts may award punitive damages
Indicate whether the statement is true or false