Answer the following statements true (T) or false (F)
1. A unique factor of responsibility accounting performance reports is the focus on responsibility and controllability.
2. Because profit centers are only responsible for controlling costs, their performance reports include only information on actual costs versus budgeted costs.
3. Noncontrollable costs are the costs that can be influenced by the decisions of a manager.
4. All costs are ultimately controllable at the upper levels of management.
5. Management by exception directs management's attention to important differences between the actual and the budgeted amounts.
1. TRUE
2. FALSE
3. FALSE
4. TRUE
5. TRUE
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Carver Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 2,000 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 66,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 9,000 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?
A. 62,300 B. 63,500 C. 73,000 D. 59,000
A company that offers wireless phone service is often referred to as a
A) carrier. B) service provider. C) cell district. D) wireless firm.
Special Sports Store, which uses the LIFO method of valuing inventory, has 52 tennis rackets remaining in inventory. Special purchased tennis rackets over a three-month period as follows: 36 purchased at $15 on January 3, 48 purchased at $15.50 on February 5, and 24 purchased at $16 on March 7 . Compute the value of the ending inventory of tennis rackets at LIFO cost
Daniel, Inc, pays the regular hourly rate for the first 40 hours worked, time and a half for hours 41 through 48, and double time for all hours in excess of 48 . Sarah John worked 52 hours this week. Her regular hourly rate is $10.30 . Compute John's total earnings