Koczela Inc. has provided the following data for the month of May:Inventories: BeginningEndingWork in process$29,000?$24,000?Finished goods$58,000?$62,000?Additional information: Direct materials$69,000?Direct labor cost$99,000?Manufacturing overhead cost incurred$75,000?Manufacturing overhead cost applied to Work in Process$73,000?Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.The cost of goods manufactured for May is:
A. $243,000
B. $241,000
C. $248,000
D. $246,000
Answer: D
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Borden Company incurred the following costs to acquire and prepare land for a new parking lot: purchase price for land, cost to clear the land, cost of paving, lighting for the parking lot, and landscaping for the parking lot. How should the company determine which costs should be recorded as Land Improvements and which cost should be recorded as Land?
a. The costs with an unlimited life will increase Land, and the costs with a limited useful life will increase Land Improvements. b. The costs with a limited life will increase Land, and the costs with an unlimited useful life will increase Land Improvements. c. The costs to be depreciated will increase Land, and the costs that will not be depreciated will increase Land Improvements d. Costs that are depreciable will increase Land Improvements, while other costs are expensed immediately because of a lack of definite life.
In a ______ conflict management strategy, the conflict may be won by any means necessary: argument, rank (position or authority), or a political exercise of power.
What will be an ideal response?
What type of management style should accompany the introduction stage of the retail life cycle?
a. entrepreneurial b. professional c. centralized d. caretaker
Consolidated financial statements:
a. don't require elimination entries. b. are used by most companies with a controlling interest in other companies. c. treat the parent company and its subsidiaries as one entity. d. are all of these.