A furniture manufacturer has decided that its use of a single plantwide predetermined overhead allocation rate is no longer accurate. In making the transition to using multiple predetermined overhead allocation rates, which of the following statements is incorrect?
A) In selecting machine usage as the primary cost driver for the Production Department, management feels that there is a direct relationship between the number of machine hours used and the amount of overhead costs incurred.
B) Management must analyze the expected overhead costs and separate them into a cost pool for each department.
C) The allocation process changes because there are now multiple cost pools and multiple allocation bases.
D) The use of multiple predetermined overhead allocation rates is more complex, but it may be more accurate.
C
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Use the following data to answer the question presented below for Raines Corp's preparation of a bank reconciliation on October 31, 2016: Bank statement balance $30,700 Raines' book balance (before adjustments) ? Outstanding checks 4,200 NSF checks 400 Service charges 300 Deposits in transit 3,100 Interest earned on checking account 100 What is the net amount of the increase or decrease in
Raines' cash balance which must be recorded as a result of the adjustments identified by the bank reconciliation? a. $100 decrease b. $300 decrease c. $400 decrease d. $600 decrease
In terms of ensuring quality in a decision:
A) We should engage only a few select individuals B) We should engage a wide variety of individuals C) We should only engage the primary decision maker D) None of the above
The budget director is the person responsible for directing and coordinating the organization's overall budgeting process
Indicate whether the statement is true or false
The following balance sheet information is provided for Santana Company for Year 2: Assets Cash$5,400 Accounts receivable 15,500 Inventory 18,000 Prepaid expenses 1,600 Plant and equipment, net of depreciation 20,200 Land 19,950 Total assets$80,650 Liabilities and Stockholders' Equity Accounts payable$4,500 Salaries payable 11,500 Bonds payable (Due in ten years) 19,000 Common stock, no par 30,000 Retained earnings 15,650 Total liabilities and stockholders' equity$80,650 What is the company's debt to equity ratio? (Round your answers to the nearest whole percent.)
A. 130% B. 77% C. 43% D. 42%