If a company uses a factory overhead ledger, at the end of the month, an accountant should:
a. close the accounts in the factory overhead ledger to Work in Process.
b. total the accounts in the factory overhead ledger and compare the total to the balance in the Factory Overhead control account.
c. prepare a schedule of fixed costs.
d. All of the above are true.
b
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What is a business indicator of the success of the employee appraisal and development programs implemented by the HR department of an organization?
A. the assistance in identifying management potential B. the organizational development activities provided by the HRM department C. the distribution of performance appraisal ratings D. the accuracy and clarity of information provided to managers and employees E. the quality of the introduction or orientation programs
Smith Corp has both Class A and Class B shares of common stock. The difference between the two classes of stock is most likely related to
A) Class A stock being worth more than Class B stock. B) Class A shareholders having greater voting rights than Class B shareholders. C) Class A shareholders receiving dividends while Class B shareholders do not. D) Class A shareholders having better preemptive rights than Class B shareholders.
If an audit firm accepts or continues to provide audits to a client firm with ineffective internal controls over financial reporting, the management representation letter will note that an adverse opinion will likely be issued
a. True b. False Indicate whether the statement is true or false
The state of Illinois has passed a law requiring that every automobile be inspected at least once a year for pollution control. Anfang Enterprises is considering entering into this type of business. After extensive studies, Joseph Anfang has developed the following set of projected annual data on which to make his decision: Direct service labor $363,000.00 Variable service overhead costs
270,000.00 Fixed service overhead costs 280,000.00 Marketing expenses 120,000.00 General and administrative expenses 170,000.00 Minimum profit 90,000.00 Cost of assets employed 500,000.00 Anfang believes that his company will inspect 100,000 automobiles per year. The company earns an average of 18.75 percent return on its assets. The projected cost for inspecting each automobile would be a. $11.13. b. $12.03. c. $12.93. d. $10.03.