Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: MoldingFinishingTotalEstimated total machine-hours (MHs) 6500? 3500? 10,000?Estimated total fixed manufacturing overhead cost$30,000?$4600?$34,600?Estimated variable manufacturing overhead cost per MH$1.00?$2.00? During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow: Job AJob MDirect materials$16,400?$9700?Direct labor cost$23,100?$10,100?Molding machine-hours 2500? 4000?Finishing machine-hours 2500? 1000?Assume that the company uses a plantwide
predetermined manufacturing overhead rate based on machine-hours. The total manufacturing cost assigned to Job M is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $9700
B. $43,850
C. $10,100
D. $24,050
Answer: B
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Which of the following pairs of accounts could not appear in the same adjusting entry?
A) Service Revenue and Unearned Revenue B) Interest Income and Interest Expense C) Rent Expense and Prepaid Rent D) Salaries Payable and Salaries Expense
Walter worked nights as a clerk in a fast-food store. On his last work shift, Walter's boss told him, "I'm really grateful for the year that you have worked here. I am going to give you a bonus of $1,000 in your last paycheck." When Walter got his last paycheck, there was no bonus. If Walter sues, the likely result will be
a. Walter will win, as the promise is enforceable. b. Walter will lose, as he gave no consideration. c. Walter will lose unless the promise was in writing. d. Walter will win, as no consideration is required to modify an employment contract.
Another name for the assignor is the obligor
Indicate whether the statement is true or false
The growing use and proliferation of ATMs has been stimulated by
A) lower transaction costs. B) greater customer convenience. C) declining cost of the ATM equipment. D) all of the above.