Costs associated with factory insurance, maintenance, rent, property taxes, and other similar items are typically included in manufacturing overhead and assigned to products:
A) primarily based on whatever technique is easiest.
B) based on a related cost driver that can be identified and measured.
C) if not treated as a period cost.
D) based on the relative sales revenue generated by the product.
B
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Toyota, Sony, Olympus, and Komatsu are some of the well-known Japanese companies that use target costing, a process which is also known as "design to cost."
Indicate whether the statement is true or false
Land costing $88,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On the statement of cash flows, what amount should be reported as an investing activity from the sale of land?
A) $50,000 B) $88,000 C) $138,000 D) $38,000
An easement by prescription arises when ________
A) one openly uses a portion of another's property for a statutory period of time B) a piece of property is divided and, as a result, one portion is landlocked C) the landowner expressly agrees to allow the holder of the easement to use the land in question D) the landowner transfers possessory interest for an agreed-upon period
A cleaning company uses 10 lbs each of chemicals A, B and C for each house it cleans. After some quality complaints, the company has decided to increase its use of chemical A by an additional 10 lbs for each house
By what % has productivity (houses per pound of chemical) fallen? A) 0% B) 10% C) 15% D) 25% E) 33%