Bry, Inc and Gangl Co entered into an oral agreement for the sale of 3,000 sweaters. Both parties performed as required under the contract. Bry delivered the sweaters and Gangl accepted and paid for them. Since the contract is fully executed, it makes no difference that it was an oral agreement
Indicate whether the statement is true or false
True
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Ideally, an entity identifier is composed of _____ attribute(s)
a. three b. one c. two d. six
A government's Statement of Revenues, Expenditures, and Changes in Fund Balances reflected expenditures for debt service in the amount of $12,000,000, including $7,000,000 for interest. It also reflected proceeds of bonds in the amount of $4,000,000. No interest accruals were involved. When moving from the changes in fund balances reported for the governmental funds to the change in Net Position for governmental activities, the net change would be:
A. $1,000,000 increase. B. $3,000,000 decrease. C. $1,000,000 decrease. D. $3,000,000 increase.
Doede Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing system allocates two overhead accounts--equipment depreciation and supervisory expense--to three activity cost pools--Machining, Order Filling, and Other--based on resource consumption. Data to perform these allocations appear below:Overhead costs:Equipment depreciation$103,000?Supervisory expense$13,100?Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools MachiningOrder FillingOtherEquipment depreciation0.60?0.20?0.20?Supervisory expense0.60?0.10?0.30?In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The
costs in the Other activity cost pool are not assigned to products.Activity: MHs(Machining)Orders(Order Filling)Product W16270?104?Product M018,800?984?Total25,070?1088??Finally, sales and direct cost data are combined with Machining and Order Filling costs to determine product margins.Sales and Direct Cost Data: Product W1Product M0Sales (total)$73,700?$67,500?Direct materials (total)$34,300?$15,200?Direct labor (total)$18,000?$34,800?What is the overhead cost assigned to Product W1 under activity-based costing? (Round your intermediate calculations to 2 decimal places and your final answer to nearest whole dollar amount.) A. $19,525 B. $69,660 C. $17,431 D. $2095
The futures price of a non-storable asset is determined by the cost of carry
Indicate whether the statement is true or false