Baj Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. ?Estimated total fixed manufacturing overhead from thebeginning of the year$534,000 ?Estimated activity level from the beginning of the year 30,000machine-hours?Actual total fixed manufacturing overhead$487,000 ?Actual activity level 27,400machine-hours?The predetermined overhead rate per machine-hour would be closest to:
A. $19.49
B. $17.80
C. $17.77
D. $16.23
Answer: B
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In using the affect referral approach to decision making, the person considers:
A) product attributes and the importance of attributes B) the brand he or she likes the best C) cognitive and conative cues D) evoked, inept, and inert sets of brands
All of the following are the general principles underlying the valuation of liabilities except:
a. Liabilities requiring future cash payments appear at the present value of the required future cash flows discounted at an interest rate that reflects the uncertainty that the firm will be able to make the cash payments. b. The fair value of a liability cannot differ from the amount appearing on the balance sheet, particularly for long-term debt. c. Liabilities representing cash advances from customers appear at the amount of the cash advance. d. Liabilities requiring the future delivery of goods or services appear at the estimated cost of those goods and services.
Delivery of inputs to storage facilities prior to their use ______.
A. can contribute to increased potential for damage to inputs B. is an example of mura C. reduces cost of production D. can contribute to overproduction
Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. Use only one letter for each element. You do not need to enter amounts.Increase = IDecrease = DNo Effect = NJack Grimes, who had held 12% of Preston Company's outstanding common stock, agreed to purchase another 8% of Preston Company's outstanding common stock from Todd Barbour, another major stockholder of Preston's. Indicate the effect of this event on Preston's financial statements.AssetsLiabilitiesEquityRevenuesExpensesNetIncomeCash Flow? ?????
What will be an ideal response?