The acquisition costs of property, plant, and equipment should include all normal, reasonable and necessary costs to get the asset in place and ready for use
Indicate whether the statement is true or false
True
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Bumgardner Inc. has provided the following data concerning one of the products in its standard cost system.InputsStandard Quantity or Hours per Unit of OutputStandard Price or RateDirect materials8.0 liters$5.00 per liter?The company has reported the following actual results for the product for April: Actual output 7,400unitsRaw materials purchased 65,400litersActual price of raw materials$5.70per literRaw materials used in production 59,210liters?The direct materials purchases variance is computed when the materials are purchased.?The raw materials price variance for the month is closest to:
A. $41,447 F B. $45,780 U C. $41,447 U D. $45,780 F
Relinquishing cultural heritage and adopting the beliefs and behaviors of the new culture is known as ______.
A. avoidance B. marginalization C. assimilation D. separation
The master budget is an integrated set of budgets that tie together a company's operating, financing and investing activities into an integrated plan for the coming year
Indicate whether the statement is true or false
Jacobs Company issued bonds with a $170,000 face value on January 1, Year 1. The bonds were issued at 105 and carried a 5-year term to maturity. They had a 8% stated rate of interest that was payable in cash on December 31st of each year. Jacobs uses the straight-line method to amortize bond discounts and premiums. Based on this information alone, how does the recognition of interest expense during Year 1 affect the company's accounting equation?
A. Decrease both assets and stockholders' equity by $11,900 B. Increase liabilities by $1700, decrease assets by $11,900, and decrease equity by $13,600 C. Decrease both assets and stockholders' equity by $13,600 D. Decrease equity by $11,900, decrease liabilities by $1700, and decrease assets by $13,600