The goal of ______ is to regulate both the flow of work orders and work center capacities in order to achieve a steady flow of work with minimal load backup.
A. material requirements planning (MRP)
B. distribution requirements planning (DRP)
C. capacity requirements planning (CRP)
D. enterprise resource planning (ERP)
C. capacity requirements planning (CRP)
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In a job order costing system, the Factory Payroll account is a clearing account
Indicate whether the statement is true or false
All of the following are true regarding the hiring process EXCEPT:
A) people want to work with people they like. B) it is important to know about the company. C) expect quick responses to your inquiries. D) it is important to keep in touch.
____ can be created only as stored program units.
A. Program units B. Package specifications C. Packages D. Cursors
The predetermined overhead rate for Foster, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were:Direct materials…………………………….. $240,000Direct labor…………………………………..410,000Indirect materials…………………………… 55,000Indirect labor……………………………….. 125,000Sales commissions…………………………. 55,000Factory depreciation………………………… 170,000Property taxes, factory……………………... 15,000Factory utilities…………………………….. 35,000Advertising………………………………..... 62,500Factory equipment rental…………………… 110,000(a) Calculate the predetermined
overhead rate and calculate the overhead applied during the year.(b) Prepare the journal entry to eliminate the over- or underapplied overhead, assuming that it is not material in amount. What will be an ideal response?