Net profit, when used alone, shows a company's true financial health
Indicate whether the statement is true or false
FALSE
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Which of the following is true of a land contract?
A. The trustee holds legal title to the property put up as security. B. The buyer agrees to pay the purchase price over a period of time. C. If a buyer defaults, the seller does not have the right to declare forfeiture. D. The lender holds legal title to the property put up as security.
Details of the manufacturing activity in Amy Corporation's Assembly Department for the month of December is given below: Number of UnitsLabor and Overhead Percent CompleteWork in process inventory, Dec. 110,00070%Started in assembly during the month80,000 Work in process inventory, Dec. 3115,00040%All materials are added at the beginning of processing in the Assembly Department.The equivalent units for material for the month, using the FIFO method, is:
A. 90,000 B. 74,000 C. 70,000 D. 80,000
Harrison Company expects to incur $600,000 in manufacturing overhead for the coming year. The company makes two products, A and B, and it has accumulated the following budget information for the products:
Required:1) Use direct labor hours as the cost driver to compute the allocation rate. Determine the amount of budgeted overhead to be allocated to each unit of product A. (Round to the nearest cent.)2) Use machine hours as the cost driver to compute the allocation rate. Determine the amount of budgeted overhead to be allocated to each unit of product A. (Round to the nearest cent.)3) How should Harrison decide between machine hours and direct labor hours
as the cost driver for its manufacturing overhead? What will be an ideal response?
The greater the distance and formality between a reader and writer, the more need there is to _____________________ the ideas of the document
a. obfuscate b. highlight c. introduce d. ignore