Maria's Custom Tailoring is very labor intensive. Therefore, Maria has decided to use direct labor hours as the cost driver for assigning overhead costs to specific jobs. During the month of February, the company incurred overhead costs of $4,800. Total direct labor hours during the month totaled 1,200. Out of a total of 45 different jobs worked on during the month, Job #115 required 16 direct
labor hours to complete and Job #195 required 15 direct labor hours. The total amount of overhead allocated to these two jobs is:
A) $124.00
B) $187.50
C) $137.50
D) $ 31.00
A
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Enrique is hired as a seasonal firefighter by the Oregon Department of Forestry and Fire Protection. The training used to prepare Enrique for his firefighting job involves an online training module. In this game-like module, Enrique is virtually placed in a real-life scenario such as a garage fire or a restaurant fire, and his goal is to put out the fire and save as many lives as possible. This form of training is referred to as a(n)
A. cross-training. B. internship. C. apprenticeship. D. simulation. E. action learning.
The beginning of management as a field of study dates back to the ______.
A. 17th century B. 18th century C. 19th century D. 20th Century
Which of the following is a value judgment found in SFAC No. 1?
a. Accounting reports should become the only relevant source of information about enterprises. b. Cash basis accounting is extremely useful in assessing and predicting earning power and cash flows of an enterprise. c. Information is not costless to provide, so benefits of usage should exceed costs of production. d. Users of accounting information have limited ability regarding financial information and reporting.
In a period of rising prices, how would the following ratios be affected by the accounting decision to select LIFO, rather than FIFO, for inventory valuation?