When depreciation rates are revised, an adjustment for previous years' depreciation must be recorded
Indicate whether the statement is true or false
False
You might also like to view...
Benefit Pillow Company projected sales of 79,000 units for the year at a unit sales price of $12.00. Actual sales for the year were 73,000 units at $14.00 per unit. Variable costs were budgeted at $4.00 per unit, and the actual variable cost was $5.00 per unit. Budgeted fixed costs totaled $375,000 while actual fixed costs amounted to $415,000. What is the flexible budget variance for operating income?
A) $209,000 unfavorable B) $33,000 favorable C) $33,000 unfavorable D) $73,000 favorable
People's orientation to their society does not impact their consumption patterns and attitudes toward the marketplace
Indicate whether the statement is true or false
The total fixed overhead variance is comprised of the
a. variable overhead efficiency and fixed variances. b. fixed overhead budget and volume variances. c. labor efficiency and rate variances. d. variable overhead spending and efficiency variances.
On May 1, there were 500 units in production in the framing department, and another 500 units were placed into production during the month. If there are 100 units left in production at the end of the month, how many units are to be assigned costs for the month in the framing department?
a. 1,100 units b. 1,000 units c. 600 units d. 900 units