Object-oriented technology is a response to an ever-increasing demand for simple information systems
Indicate whether the statement is true or false
FALSE
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Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass
This illustrates ________. A) types of decisions B) derived demand C) market structure D) the decision process E) nature of the buying unit
Answer the following statements true (T) or false (F)
1. Activity-based costing refines the cost allocation process even more than traditional allocation costing systems. 2. The first step in developing an activity-based costing system is to identify the activities that will be used to allocate the manufacturing overhead costs. 3. Indirect costs allocated to products using activity-based costing are more accurate than traditional allocation systems. 4. Companies with diverse products can obtain better costing information by using a single plantwide rate for allocating manufacturing costs. 5) For a centralized company, the major planning and controlling decisions are made by top management.
Flamingo, Inc has the following budgeted figures
Jan Feb Mar April Sales $50,200 $67,000 $84,000 $95,000 Cost of goods sold 60% of sales Required ending inventory $10,000 + 25% of next month's sales Inventory on hand on Jan 1 $27,500 Calculate cost of goods sold for the month of February. A) $16,750 B) $30,120 C) $29,370 D) $40,200
Coudriet Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs). The company has two products, P93S and N40S, about which it has provided the following data: P93SN40SDirect materials per unit$21.90 $54.80 Direct labor per unit$8.80 $13.20 Direct labor-hours per unit 0.80 1.20 Annual production (units) 35,000 15,000 The company's estimated total manufacturing overhead for the year is $2,172,580 and the company's estimated total direct labor-hours for the year is 46,000. The company is considering using a variation of activity-based costing to determine its unit product costs for external reports. Data for this proposed activity-based
costing system appear below: Activities and Activity MeasuresEstimatedOverhead CostDirect labor support (DLHs)$552,000 Setting up machines (setups) 419,980 Part administration (part types) 1,200,600 Total$2,172,580 Expected Activity P93SN40STotalDLHs28,00018,00046,000Setups2,1621,6563,818Part types1,8862,1164,002 The unit product cost of product N40S under the activity-based costing system is closest to: A. $68.86 B. $124.68 C. $136.86 D. $68.00