Which of the following businesses is most likely to use process costing?
A) chemical plant
B) architectural firm
C) dentist's office
D) manufacturer of fine furniture
A
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Which of the following is a governmental audit type that has a primary concern with providing reasonable assurance about whether financial statements are presented fairly?
A. Performance Audit. B. Financial Audit. C. Attestation Engagement. D. Nonaudit services.
Write the model that is suitable for this scenario
What will be an ideal response?
Preparing a bank reconciliation is a control activity.
Answer the following statement true (T) or false (F)
ABS specializes in repair and maintenance of industrial machines. One repair technician has been assigned to five identical grinding machines for repair and maintenance. The machine breaks down after about 20 hr of use, and breakdowns have a Poisson probability distribution. It takes 6 hr to repair a machine, and repair times follow an exponential distribution. Machine downtime costs the company $250 an hour, and the technician is paid $50 an hour. Determine the total cost per hour.
A. $550.34 B. $582.50 C. $284.50 D. $725.50