The salaries of employees who spend all their time working in one department are:
A. Direct expenses.
B. Variable expenses.
C. Responsibility expenses.
D. Unavoidable expenses.
E. Indirect expenses.
Answer: A
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Which of the following would be a variable cost for a dentist's office?
A) cost of cavity filling material B) cost of leasing equipment C) cost of advertising on local radio station D) salary of receptionist
Fact Pattern 3-2AFine Dining Corporation files a suit against Eat-at-Joe's, Inc.Refer to Fact Pattern 3-2A. During the trial, Fine Dining's attorney questions the plaintiff's witness Floyd. Floyd, who is not an expert in the matter about which he is being asked, can
A. testify about any of the facts in the case. B. testify about only what he personally observed. C. offer his opinion about any of the evidence. D. offer his conclusion with regard to the case.
Measuring effectiveness during a campaign is usually accomplished by using
A. pretests. B. posttests. C. consumer juries. D. inquiries. E. sales force surveys.
Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials:InputsStandard Quantityor HoursStandard Price or RateStandard CostDirect materials3.7kilos$9.00per kilo$33.30During the year, the company completed the following transactions concerning direct materials:a.Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b.Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials
variances for the year:Materials price variance$106,260UMaterials quantity variance$900FAssume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)=Materials Price VarianceMaterials Quantity Variance1/1$1,130,000$59,940$0$81,510$432,900=$0$0a.?????=??b.?????=???Labor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$1,704,350a.?????b.?????When recording the raw materials used in production in transaction (b) above, the Work in Process inventory account will increase (decrease) by: A. ($1,267,830) B. $1,268,730 C. ($1,268,730) D. $1,267,830