Which of the following acts regulates the secondary market?
A) The Securities Act of 1933
B) The Gramm-Leach-Bliley Act
C) The Securities Exchange Act of 1934
D) The Glass-Steagall Act
C
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Why are the amounts determined for ending inventory and cost of goods sold the same under both the periodic and perpetual inventory systems when FIFO is used but not when LIFO is used?
Which of the following is not usually associated with a revolving credit account?
A) A credit limit B) A credit card C) A set monthly payment D) A monthly minimum payment
Which test of whether an organization is well designed relates to streamlining control for a single unit, assessing whether authority is diffused among different units?
a. Specialist cultures test b. Difficult-links test c. Redundant hierarchy test d. Accountability test
Figures Incorporated makes a single product-an electrical motor used in many long-haul trucks. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted variable manufacturing overhead$66,570 Budgeted hours 21,000labor-hoursStandard hours allowed for the actual production 18,000labor-hoursActual variable manufacturing overhead$56,736 Actual hours 19,700labor-hoursThe variable overhead efficiency variance is: (Round your intermediate calculations to 2 decimal places.)
A. $5,389 F B. $4,896 U C. $5,389 U D. $4,896 F