Under which of the following circumstances would the base used to calculate the variable overhead rate be the same as that used for the fixed overhead rate?
a. When actual labor hours are the same as budgeted labor hours
b. When standard indirect labor hours agree with standard direct labor hours
c. In most circumstances; the base used for each calculation is normally the same.
d. When the number of labor hours expected to be incurred for the period is the same as normal capacity direct labor hours
D
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One of the distinguishing characteristics of a direct financing lease is that
A) the lessor is normally a dealer or manufacturer. B) the net investment in the lease is equal to the cost of the asset or carrying value of the asset. C) the lease has two sources of earnings: interest revenue and profit or loss from the asset exchange. D) the property related to the lease remains on the lessor's balance sheet during the term of the lease.
If fixed costs are $490,000, the unit selling price is $35, and the unit variable costs are $20, what is the break-even sales (units) if fixed costs are reduced by $40,000?
A) 32,667 units B) 14,000 units C) 30,000 units D) 24,500 units
A regional chain of medical clinics had the following information pertaining to its stockholders' equity accounts at December 1, 2019: Common Stock, $5 par, 100,000 shares authorized, 30,000 shares issued and outstanding$15,000,000 Paid-in Capital in Excess of Par--Common Stock12,000,000 Retained Earnings30,000,000 No dividends were paid during 2019. On December 15, 2019 the clinic repurchased 3,000 shares of its common stock for $80 per share. On December 31, the bookkeeper closed the books, reporting net income of $2,500,000. A)What amount will be reported on the balance sheet for Treasury Stock at December 31, 2019? B)How many shares of stock are outstanding at December 31, 2019? C)Prepare the stockholders' equity section of the balance sheet at December 31, 2019.
What will be an ideal response?
If a population were not distributed symmetrically, you would use:
A) simple random sampling. B) systematic sampling. C) cluster sampling. D) stratified sampling. E) unbalanced sampling.