A "normal" yield curve is
A) upward sloping, then downward sloping. B) upward sloping.
C) downward sloping, then upward sloping. D) downward sloping.
B
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Which of the following accounts would not appear on the balance sheet of a lessee company recording a capital lease?
a. Accumulated depreciation on the leased asset b. Lease obligation in the current liability section c. Lease obligation in the long-term liability section d. Rent expense on the income statement
An example of a cost driver for a machining activity could be:
a. number of units being machined. b. number of products requiring the machine. c. number of machine hours. d. number of machines being used. e. None of the answers are correct.
Yasmin agrees to a three-year employment contract with State University as long as they become accredited after one year. This contract contains a "condition subsequent."
Indicate whether the statement is true or false
Flawless Cosmetic Company manufactures and distributes several different products. The company currently uses a plantwide allocation method for allocating overhead at a rate of $7 per direct labor hour. Loren is the department manager of the Makeup Department that produces Products - Concealer (C) and Glow Cream (GC). Jennifer is the department manager of the Hair Care Department that manufactures Product - Shampoo (S). The product costs (per case of 24 bottles) and other information are as follows: Products CGCSDirect materials$100.00 $72.00 $48.00 Direct labor 42.00 31.50 12.00 Overhead 28.00 21.00 14.00 $170.00 $124.50 $74.00 Machine hours 4 2 3 Number of cases (per year) 300 500 600 Based on this information, if Flawless changes its allocation
basis to machine hours, what is the overhead rate per machine hour? A. $6.825 B. $2.00 C. $21.00 D. $3.00