Following his meeting with the board of Bank of America, general counsel Timothy Mayopoulos:
a. Was able to modify the company's public disclosures.
b. Was able to go to the SEC.
c. Was fired.
d. Was given a promotion.
.C
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Charriott sells a single product at $14 per unit. The firm's most recent income statement revealed unit sales of 80,000, variable costs of $800,000, and fixed costs of $560,000. Management believes that a $3 drop in selling price will boost unit sales volume by 20%. Which of the following correctly depicts how these two changes will affect the company's break-even point? Drop in Sales PriceIncrease in Sales VolumeA.IncreaseIncreaseB.IncreaseDecreaseC.IncreaseNo effectD.DecreaseIncreaseE.DecreaseDecrease
A. Choice A B. Choice B C. Choice C D. Choice D E. Choice E
In a(n) ____________________ cost system, factory overhead is assigned to an overhead control account and then allocated to products and services
Fill in the blank(s) with correct word
The predetermined overhead rate for Foster, Inc., is based on estimated direct labor costs of $400,000 and estimated factory overhead of $500,000. Actual costs incurred were:Direct materials…………………………….. $240,000Direct labor…………………………………..410,000Indirect materials…………………………… 55,000Indirect labor……………………………….. 125,000Sales commissions…………………………. 55,000Factory depreciation………………………… 170,000Property taxes, factory……………………... 15,000Factory utilities…………………………….. 35,000Advertising………………………………..... 62,500Factory equipment rental…………………… 110,000(a) Calculate the predetermined
overhead rate and calculate the overhead applied during the year.(b) Prepare the journal entry to eliminate the over- or underapplied overhead, assuming that it is not material in amount. What will be an ideal response?
An annual shareholders' meeting is held to elect new shareholders
Indicate whether the statement is true or false