Adverbs are modifiers that give the how, when, where, and extent of the _____________ within a sentence
a. meaning
b. information
c. subject
d. action
d
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Answer the following statements true (T) or false (F)
1. The terms unit contribution and contribution margin are used interchangeably. 2. Contribution margin ratio is the ratio of contribution margin to net income. 3. Because contribution margin is based on sales price and variable costs, the contribution margin ratio can be calculated using either the total amounts or the unit amounts. 4. A contribution margin income statement classifies costs by function; that is, costs are classified as either product costs or period costs. 5. Contribution margin is the amount that contributes to covering the fixed costs and then to providing operating income.
Myers Manufacturing uses a standard cost system. The allocation base for overhead costs is direct labor hours. Standard and actual data for manufacturing overhead are as follows:
Variable overhead allocation rate: $30 per direct labor hour Fixed overhead allocation rate: $10 per direct labor hour Actual overhead incurred (variable and fixed): $45,600 Standards for direct labor are as follows: Hours per unit 0.5, Direct labor cost per hour $18.00 Actual direct labor for the month: 1,200 hours for a total cost of $24,000 Actual and planned production for the month: 3,000 units Prepare the journal entry to allocate overhead cost (both variable and fixed) to production.
Two types of stores can have different trading areas even though they are located in the same shopping district/center
Indicate whether the statement is true or false
A written stop payment order or confirmation is effective for: A) fourteen (14 ) days
B) thirty (30 ) days. C) six (6 ) months. D) one (1 ) year.