Happy Clicks, Inc. uses a predetermined overhead allocation rate of $5.50 per machine hour. Actual overhead costs incurred during the year are as follows:
What is the amount of manufacturing overhead cost allocated to Work-in-Process Inventory during the year?
A) $38,747
B) $8900
C) $29,847
D) $41,800
D) $41,800
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Fred's company has recently sold its resin-producing plant to a business in India. As part of the sales price, his company agrees to accept as partial payment the production of the resin at an agreed upon price for six years
This is an example of what type of countertrade?
Facebook has approximately what fraction of the world's population as customers?
A. one-half B. one-fifth C. one-quarter D. one-third E. one-seventh
A firm that can exert significant influence over another entity accounts for its intercorporate investment by
a. using the equity method. b. recognizes its share of the net income or net loss of the investee, after eliminating any intercompany income items, and increases (in the case of net income) or decreases (in the case of net loss) its investment account in an equal amount. c. comparing the acquisition cost of the investment to determine whether it exceeds the investor's interest in the net assets of the investee at the time of the acquisition, the investor must decide if the excess relates to assets or liabilities of the investee with a limited life. d. decreasing the investment account for dividends received. e. all of the above.
The silicone breast implant case against Dow Corning, as well as the cases involving smoking and securities fraud, are examples of class action lawsuits
a. True b. False Indicate whether the statement is true or false