Mcgreal Incorporated has provided the following data concerning its overhead variances for the most recent period: Variable overhead rate variance$28,122UVariable overhead efficiency variance$3,036UFixed overhead budget variance$16,000FFixed overhead volume variance$9,196FThe total of the overhead variances is:
A. $17,666 F
B. $17,666 U
C. $5,962 U
D. $5,962 F
Answer: C
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(Appendix) When preparing a schedule for the calculation of cash generated from operating activities under the direct method, a decrease in Accounts Receivable is
a. added to net sales. b. subtracted from net sales. c. added to operating expenses. d. subtracted from cost of goods sold.
As multi-tasking is more prevalent in virtual teams, a way to address this problem is to:
a. Require attendees take turns facilitating the meeting b. Design short and focused agendas c. Ensure the anonymity of attendees d. Discuss the objectives of the meeting after it occurs
ABC, Inc., is a small clothing manufacturer that produces shirts and pants using two resources: sewing machine hours and cutting machine hours. The production manager can schedule up to 240 hr of sewing machine time and up to 150 hr of cutting machine time. Production of one shirt requires 3 hr of sewing time and 1 hr of cutting time. Each pair of pants requires 2 hr of sewing time and 1.5 hr of cutting time. Each shirt yields a profit of $5, and each pair of pants generates a $6 profit. The objective is to maximize profits. Determine cutting time constraint for the LP formulation. Let X1 = Number of shirts to be produced, X2 = Number of pairs of pants to be produced. Which one of the following is NOT one of the corner points (x1, x2) in this LP formulation?
A. (24,84) B. (80,100) C. (0,100) D. (80,0)
The declaration of cash dividends increases retained earnings.
Answer the following statement true (T) or false (F)