The assignment of direct labor cost to individual jobs is based on:
A. the actual time spent on each job multiplied by the wage rate.
B. the estimated time spent on each job multiplied by the wage rate.
C. an estimate of the total time spent on the job.
D. estimated total payroll cost divided equally among all jobs in process.
E. actual total payroll cost divided equally among all jobs in process.
Answer: A
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The use of the color ________ dates back millennia as seen by artisans in ancient Egypt, China, and Mayan civilizations and is now associated with royalty and divinity
A) red B) green C) blue D) orange E) brown
The three types of analysis that involve ratios are__________,__________, and ____________________
Fill in the blank(s) with correct word
Answer the following statements true (T) or false (F)
1. Quality circles are now known as continuous improvement teams. 2. Problem-solving teams consist of small groups of volunteers or workers and supervisors who meet intermittently to discuss workplace- and quality-related problems. 3. About 25% of Fortune 1000 companies use some form of self-managed work teams. 4. Creating self-managed teams in the workplace has a very positive effect on job satisfaction and organizational commitment.
Which ratio will increase when accounts payable is not recorded?
a. Accounts payable/Inventory b. Quick assets/Current liabilities c. Accounts payable/COGS d. Accounts payable/Total liabilities