Separate written records called ________ are kept for each asset and liability and for the owner's equity of a business.
Fill in the blank(s) with the appropriate word(s).
accounts
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The accounting records of Omar Corporation contained the following information for last year: BeginningEndingDirect materials inventory$9,000 $7,000 Work in process inventory$17,000 $31,000 Finished goods inventory$10,000 $15,000 Manufacturing Costs IncurredDirect materials used$72,000Overhead applied$24,000Direct labor cost (10,000 hours)$80,000Depreciation$10,000Rent$12,000Taxes$8,000Unadjusted cost of goods sold (does not includeoverapplied or underapplied overhead)$157,000 Selling, General, andAdministrative Costs IncurredAdvertising$35,000 Rent$20,000 Clerical$25,000 If Omar Corporation applies overhead to jobs on the basis of direct labor-hours and Job 3 took 120 hours, how much overhead should be applied to that job?
A. $288 B. $360 C. $528 D. $960
Mediated technology ______.
A. improves control of specific jobs B. hinders horizontal integration C. does not positively alter vertical communication D. increases managers within a company
A horizontal audit is often conducted prior to a vertical audit, since the horizontal audit _____
a. often reveals areas that need further study b. is less costly c. is more likely to be conducted by a company specialist d. is more likely to be nondisguised
The manager of a branch bank wants to build a simulation model of the lobby operation to reduce the waiting time of her customers. The number of tellers is an example of:
A) a decision variable. B) an uncontrollable variable. C) a time-compressed variable. D) a dependent variable.