The company maintains several standards for the allocation of indirect labor to factory overhead. 70% of Stockhandlers wages are allocated to Stamping and 30% to Finishing. Supervisors are allocated at 60% to Stamping and 20% to Finishing while the balance is left as a period expense due to activities outside production. Because of the ratio of production equipment to office equipment 40% of
depreciation is allocated to Stamping, 30% is allocated to Finishing while the balance is left as a period expense representing office equipment. If the stockhandlers wages are $2,750, the supervisors wages are $4,550, and the depreciation for the period is $15,000, the proper journal entry would be:
A) Oct 31 Factory Overhead - Stamping 10,655Factory Overhead - Finishing 6,235Wage Expense 6,390Depreciation Expense 10,500
B) Oct 31 Factory Overhead - Stamping 10,655Factory Overhead - Finishing 6,235Cash 16,890
C) Oct 31 Factory Overhead 16,890Cash 16,890
D) Oct 31 Accounts Payable 16,890Wage Expense 6,390Depreciation Expense 10,500
A
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Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1.According to Ricardian theory, comparative advantage depends on relative differences in labor productivity. 2.The Heckscher-Ohlin theory asserts that relative differences in labor productivity underlie comparative advantage. 3.The factor-endowment theory highlights the relative abundance of a nation's resources as the key factor underlying comparative advantage. 4.According to the factor-endowment theory, a country will export that good which intensively uses the country’s relatively scarce resource. 5.According to the factor-endowment theory, a country will import that good which intensively uses the country’s relatively abundant resource.
Errors in the approach, research design, sampling, data collection, analysis, and reporting stages of the project refer to the ________ criteria for evaluating secondary data
A) nature B) objective C) error/accuracy D) currency
When using the indirect method to calculate and report net cash provided or used by operating activities, which of the following is subtracted from net income?
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