The richness of qualitative data can often supplement the facts gathered through other primary data collection techniques.
Answer the following statement true (T) or false (F)
True
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Evenrude Corporation is a new company about to issue stock. The corporation sells 2,000 shares of common stock (par value $2) at $10 per share. The journal entry to record this transaction is:
a. Cash 2,000 Common Stock 2,000 b. Cash 20,000 Common Stock 4,000 Additional Paid-in Capital 16,000 c. Cash 20,000 Owners' Liability 16,000 Common Stock 4,000 d. Cash 20,000 Accounts Payable 20,000 e. Cash 20,000 Notes Payable 20,000
J & J Products uses operational costing. One of their customers has requested 1,000 units of an identical product. J & J estimates the following will be incurred to fulfill the customer order: Total direct materials $2,000 Total direct labor hours 50
hours Direct labor cost per hour $20 per hour In addition, J & J allocates overhead based on direct labor cost. At the beginning of this year, they estimated overhead costs would total $800,000 and direct labor would cost a total of $3,200,000. Required: A. What will be the predetermined overhead rate used during the year? B. What will be the total manufacturing costs for the above customer's order?
Which of the following is a full-service merchant wholesaler?
A. Cash-and-carry wholesaler B. General merchandise wholesaler C. Drop shipper D. Mail-order wholesaler E. Truck wholesaler
Incentive plans usually tie management compensation to ________
A) share price B) dividends C) coupon payments D) inventory turnover