Noncash exchanges would be reported:
a. as a journal entry recorded in the financial statements.
b. as a supplementary schedule attached to the statement of cash flows.
c. as a part of the statement of cash flows in the relevant section.
d. these transactions would not be reported.
e. None of the answers are correct.
b
You might also like to view...
When the norms and values of behaviors of an organization’s employees are the same as those of the organization, the employees are said to have ______ them.
a. recognized b. evaluated c. internalized d. followed
What is a possible drawback of the avoiding conflict-handling style?
a. The other group members will perceive you as domineering. b. It is likely that you will sidetrack the group. c. The other group members will perceive you as not caring about the outcome. d. It is likely that you will make other group members upset.
What is skill-based pay, and what are its advantages?
What will be an ideal response?
Deloria Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: FormingAssemblyMachine-hours 19,000 15,000Direct labor-hours 4,000 8,000Total fixed manufacturing overhead cost$129,200$77,600Variable manufacturing overhead per machine-hour$1.60 Variable manufacturing overhead per direct labor-hour $3.00 During the current month the company started and finished Job T288. The following data were recorded
for this job: Job T288:FormingAssemblyMachine-hours 80 10Direct labor-hours 30 40Direct materials$730$380Direct labor cost$900$1,200The amount of overhead applied in the Assembly Department to Job T288 is closest to: A. $388.00 B. $508.00 C. $101,600.00 D. $120.00