The CARD Act substantially restricts the solicitation of credit card accounts for those under the age of 18
Indicate whether the statement is true or false
False
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Commodity L sells for $12.00; selling expenses are $2.40; normal profit is $3.00 . If the cost of Commodity L is $7.80 and the replacement cost is $6.00, the lower of cost or market is
a. $5.40. b. $6.60. c. $6.00. d. $7.80.
On December 10, Vandalia Co split its stock 5-for-2 when the market value was $49 per share. Prior to the split, Vandalia had 250,000 shares of $15 par value stock. After the split, Vandalia's outstanding shares would be
a. 250,000 b. 225,000 c. 375,000 d. 625,000
The two basic numbering systems are the _________________ system and the decimal system
a. metric. b. new math c. Library of Congress d. traditional
J & J Products uses operational costing. One of their customers has requested 1,000 units of an identical product. J & J estimates the following will be incurred to fulfill the customer order: Total direct materials $2,000 Total direct labor hours 50
hours Direct labor cost per hour $20 per hour In addition, J & J allocates overhead based on direct labor cost. At the beginning of this year, they estimated overhead costs would total $800,000 and direct labor would cost a total of $3,200,000. Required: A. What will be the predetermined overhead rate used during the year? B. What will be the total manufacturing costs for the above customer's order?