If the government takes private property, the Fifth Amendment to the U.S. Constitution requires ________.

A. that the property owner be thanked for his or her generosity, but not paid
B. that the property owner be compensated for the property taken
C. that the property seized be immediately destroyed
D. that the property owner not be notified of the seizure


Answer: B

Business

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A costing method that involves ongoing efforts for continuous improvement to reduce product costs, increase product quality and improve the production process after manufacturing activities have begun is referred to as ______________________________

Fill in the blank(s) with correct word

Business

The ________ and Equal Credit Opportunity Act state that consumers who are denied loans must receive a notice of "adverse action" from the business explaining the decision

A) PATRIOT Act B) Class Action Fairness Act C) Fair Credit Reporting Act D) Sarbanes-Oxley Act

Business

Schwiesow Corporation has provided the following information:  Cost per UnitCost per PeriodDirect materials$7.05  Direct labor$3.50  Variable manufacturing overhead$1.65  Fixed manufacturing overhead  $11,000Sales commissions$1.00  Variable administrative expense$0.40  Fixed selling and administrative expense  $5,500 If 6,000 units are produced, the total amount of direct manufacturing cost incurred is closest to:

A. $69,300 B. $63,300 C. $73,200 D. $86,400

Business

The following is taken from Clausen Company's internal records of its factory with two operating departments. The cost driver for indirect labor is direct labor hours, and the cost driver for the remaining items is number of hours of machine use. Compute the total amount of indirect labor allocated to Dept. 2 using activity-based costing. Direct Labor Hours Machine Hours Operating Dept. 1 980    9,200  Operating Dept. 2 2,100    6,000  Totals 3,080    15,200            Factory overhead costs         Rent and utilities     $21,700  Indirect labor      17,300  Depreciation - Equipment      14,000  Total factory overhead     $53,000  

A. $11,795. B. $8,474. C. $8,566. D. $5,505. E. $13,134.

Business