At the beginning of the year, Rangle Company expected to incur $54,000 of overhead costs in producing 6,000 units of product. The direct material cost is $20 per unit of product. Direct labor cost is $30 per unit. During January, 600 units were produced. The total cost of the units made in January was:
A. $5,400
B. $30,000
C. $35,400
D. None of the answers are correct.
Answer: C
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The FASB's conceptual framework does not include which of the following as financial reporting objectives?
a. Provide information useful for making rational investment and credit decisions. b. Provide information to help current and potential investors and creditors assess the amount, timing, and uncertainty of past cash flows. c. Provide information about the economic resources of a firm and the claims on those resources. d. Provide information about a firm's operating performance during a period. e. Provide information about how an enterprise obtains and uses cash.
Concerning the Indirect Statement of Cash Flows, select the correct statement
A) The management of a company would mostly utilize the Indirect Statement of Cash Flows as a management tool since it starts with Net Income from the Income Statement. B) The management of a company would not normally distribute the Indirect Statement of Cash Flows as a statement within its annual reports because it would most likely confuse the average reader. C) The management of a company would most likely distribute the Indirect Statement of Cash Flows as a statement within its annual reports because it starts with Net Income and ends in the current cash balance which increases reader confidence in the report. D) The management of a company would most likely distribute the Indirect Statement of Cash Flows as a statement within its annual reports because it does not present any relation to the other statements of the report, therefore it is least likely to confuse the reader.
Which of the following guidelines should be followed while writing a bad-news statement??
A) A bad-news statement should be included in the opening paragraph.? B) ?A bad-news statement should not subordinate the refusal. C) ?A bad-news statement should always be presented indirectly. D) ?A bad-news statement should be written using passive voice.
A horizontal analysis would be used if an analyst wants to see how the assets of a company have changed from one year to the next
Indicate whether the statement is true or false