In the Excel, or spreadsheet, approach to recording financial transactions, work in process that has been completed is recorded as a decrease in the Work in Process column and as an increase in the Cost of Goods Sold column.
Answer the following statement true (T) or false (F)
False
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Materials used by Square Yard Products Inc in producing Division 3's product are currently purchased from outside suppliers at a cost of $5 per unit. However, the same materials are available from Division 6. Division 6 has unused capacity and can produce the materials needed by Division 3 at a variable cost of $3 per unit. A transfer price of $3.20 per unit is established, and 40,000 units of
material are transferred, with no reduction in Division 6's current sales. How much would Square Yard Products total income from operations increase? A) $32,000 B) $112,000 C) $80,000 D) $150,000
A company borrowed $80,000 from a bank by signing a long-term note payable. The journal the transaction would be recorded in is the:
A. Cash payments journal. B. Purchases journal. C. General journal. D. Sales journal. E. Cash receipts journal.
Executive Controls. In 1982, the president of the United States appointed Matthew Chabal, Jr., to the position of U.S. marshal. U.S. marshals are assigned to the federal courts. In the fall of 1985, Chabal received an unsatisfactory annual performance
rating, and he was fired shortly thereafter by the president. Given that U.S. marshals are assigned to the federal courts, are these appointees members of the executive branch? Did the president have the right to fire Chabal without consulting Congress about the decision?
When exerting leadership strength, pushing down through intimidation is infinitely more effective than pulling up through delegation.
Answer the following statement true (T) or false (F)