For a construction firm using the completed-contract method, if costs exceed billings on some contracts by $1,000,000 and billings exceed costs by $800,000 on others, the contracts should ordinarily be reported as a
a. current asset of $200,000.
b. current liability of $200,000.
c. current asset of $1,000,000 less a contra-current asset of $800,000.
d. current asset of $1,000,000 and a current liability of $800,000.
D
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a. thieving b. poaching c. rubber-stamping d. pilfering
In a straight rebuy, the buyer wants to alter product specifications, prices, terms, or suppliers
Indicate whether the statement is true or false
Emerald Corporation's overhead budget for 2013 was as follows: Factory supervision $450,000 Utilities costs 250,000 Insurance 30,000 Property taxes 25,000 Depreciation 125,000 Total $880,000 750,000 units were produced in 2013. Direct labor cost is $42,000,000. For both 2013 and 2014, each unit required 4 direct labor hours at $14 per hour. In 2014, property taxes, insurance, and depreciation are
expected to stay at 2013 levels. Utilities costs vary proportionally with units produced. Factory supervision increases by increments of $45,000 for every 300,000 increase in direct labor hours. The 2014 expected production is 1,200,000 units. What will be the value for utilities of Emerald in the 2014 overhead budget? A) $450,000 B) $250,000 C) $400,000 D) $650,000
With regard to the six Cs of effective communication, consistency in fact means treating similar items the same way
Indicate whether the statement is true or false