The predetermined manufacturing overhead rate for the year was 140% of direct labor cost; employees were paid $17.50 per hour. If the estimated direct labor hours were 15,000, what was the estimated manufacturing overhead?
A. $367,500.
B. $187,500.
C. $210,000.
D. $262,500.
Answer: A
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A cash refund given for the purchase of a product during a specific period is called
A. cash discount. B. quantity discount. C. functional discount. D. rebate.
Which of the following statements is true of justifiable reliance?
A. Misrepresentation of public facts amounts to justifiable reliance. B. There should not be any causal connection between a misrepresentation and the complaining party's entry into the contract. C. It cannot lead to rescission of a contract if the complaining party was aware of the truth. D. It is an important element of unilateral mistakes.
Which of the following is an example of an inappropriate, and potentially illegal, interview question?
A) Are you a U.S. citizen? B) Are you available to work on weekends and holidays? C) Do you have adequate child-care arrangements? D) All of these questions are inappropriate and potentially illegal.
Paper Corporation owns 75 percent of Scissor Company's stock. On July 1, 20X8, Paper sold a building to Scissor for $33,000. Paper had purchased this building on January 1, 20X6, for $36,000. The building's original eight-year estimated total economic life remains unchanged. Both companies use straight-line depreciation. The building's residual value is considered negligible.Based on the information provided, in the preparation of the 20X8 consolidated financial statements, building will be ________ in the consolidating entries.
A. debited for $33,000 B. debited for $3,000 C. debited for $36,000 D. credited for $36,000