Waiting lines cause ______ and ______ costs.
a. fixed and variable
b. fixed and recurring
c. tangible and intangible
d. capacity and demand
c. tangible and intangible
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The accounting fees earned by an accounting firm would appear on its balance sheet
Indicate whether the statement is true or false
The balance in Discount on Bonds Payable that is applicable to bonds due in 2015 would be reported on the balance sheet in the section entitled
A) current liabilities B) long-term liabilities C) current assets D) intangible assets
What industry practice had BP failed to follow for its Prudhoe Bay pipeline maintenance?
a. Smart-pigging b. Pipe flow tests c. Pipe inspections d. BP did all of the above
Plummer Corporation has provided the following data for its two most recent years of operation: Selling price per unit$44Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$9Direct labor$6Variable manufacturing overhead$4Fixed manufacturing overhead per year$63,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold$5Fixed selling and administrative expense per year$66,000 Year 1 Year 2Units in beginning inventory0 2,000Units produced9,000 7,000Units sold7,000 8,000Units in ending inventory2,000 1,0000 The net operating income (loss) under absorption costing in Year 2 is closest to:
A. $132,000 B. $26,000 C. $92,000 D. $31,000