A provisional patent application can be used to establish the date of conception of the invention.
Answer the following statement true (T) or false (F)
True
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The payroll process maintains records containing data for payroll taxes and fringe benefits, attendance reporting, timekeeping, and paying employees for work performed
Indicate whether the statement is true or false
Sugar and Spice Foods is famous for its cupcakes. One of the main ingredients of the cupcakes is sugar, which Sugar and Spice purchases by the pound. In addition, the production requires a certain amount of direct labor. Sugar and Spice uses a standard cost system, and at the end of the first quarter, there was a favorable direct labor efficiency variance. Which of the following is a logical explanation for that variance?
A) The cost of workers' medical insurance plans jumped up dramatically during the quarter. B) The factory lost two experienced workers at the beginning of the quarter, and their replacements wasted a large amount of direct materials during their training period. C) The purchasing manager was able to secure a volume discount on dried fruit, purchasing the sugar for less than the amount set by standard. D) The production staff changed the work flow process so that production required fewer direct labor hours than the standards allowed.
Clough Company is interested in establishing the relationship between utility costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:MonthMachine HoursUtilityCostsJanuary3,250$22,080 February3,770 25,200 March2,470 16,200 April4,030 27,600 May4,940 33,900 June4,290 26,400 July5,330 29,700 August4,550 27,300 September2,600 18,600 October4,810 31,200 November6,110 37,200 December5,460 33,300 Required:(a.) What is the equation for utility costs using the high-low method?(b.) Prepare an estimate of utility costs for a month when 3,000 machine hours are worked.
What will be an ideal response?
Which of these is not part of the five steps to the critical thinking methodology?
a. Observe b. Interpret c. Analyze d. Estimate