Which of the following is true of maps??
A) ?They are less concise than written messages.
B) ?They are less confusing than written messages.
C) ?They are less interesting than written messages.
D) ?They are less visual than written messages.
B
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Presented below are terms preceded by letters a through h and followed by a list of definitions 1 through 8. Enter the letter of the term with the definition, using the space preceding the definition.(a) Unfavorable variance(b) Fixed budget performance report(c) Overhead cost variance(d) Efficiency variance(e) Spending variance(f) Flexible budget performance report(g) Quantity variance(h) Favorable variance________(1) Results from a comparison of actual cost or revenue to budget that contributes to a lower income.________(2) A report that compares actual results with the results expected under a fixed budget.________(3) When management pays an amount different from the standard price to acquire an item.________(4) Results from a comparison of actual cost or revenue to budget that
contributes to higher income.________(5) Difference in variable overhead when the standard allocation base expected for actual production differs from the actual allocation base.________(6) Difference between actual quantity of an input and the standard quantity of the input.________(7) Difference between the total overhead cost applied to products and the total overhead cost actually incurred.________(8) A report that compares actual performance and budgeted performance based on actual sales volume or other activity level. What will be an ideal response?
A business's stakeholders, whose conflicting perspectives cause ethical and social dilemmas, include:
A) lenders. B) suppliers. C) owners. D) employees. E) all of the above.
Complete the following statements
A traditional income statement classifies costs by ________; that is, costs are classified as either ________ costs or ________ costs. A contribution margin income statement classifies costs by ________; that is, costs are classified as either ________ costs or ________ costs. What will be an ideal response
Farnham & Associates is a literary consulting firm in New York. The following costs were incurred in a project to design a dust cover for a new novel:Direct material$29,000Direct professional labor42,000The firm's budget for the year included the following estimates:Budgeted overhead$800,000Budgeted direct professional labor640,000Overhead is applied to contracts by using a predetermined overhead rate that is based on direct professional labor cost. Actual professional labor during the year was $655,000 and actual overhead was $793,000.Required: A. Determine the total cost to design the cover of the novel.B. Calculate the under- or overapplied overhead for the year. Be sure to label your answer.
What will be an ideal response?