Which of the following will be categorized as a manufacturing overhead cost?
A) depreciation on factory plant and equipment
B) wages paid to assembly line workers
C) administration charges of showroom
D) cost of direct materials used
A
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Netherland Corporation has the following unadjusted balances: Accounts Receivable, $91,000 (debit), and Allowance for Sales Discounts $410 (credit). Of the receivables, $61,000 of them are within the 2% discount period, and Netherland expects buyers to take $1220 in future-period discounts ($61,000 × 2%) arising from this period's sales. The adjusting entry or entries to estimate sales discounts is (are):
A.
| Sales Discounts | 1220? | |
| Accounts Receivable | 1220? |
B.
| Sales Discounts | 1220? | |
| Allowance for Sales Discounts | 1220? |
C.
| Sales Discounts | 810? | |
| Allowance for Sales Discounts | 810? |
D.
| Accounts Receivable | 91,000? | |
| Sales | 91,000? |
E.
| Sales Discounts | 61,000? | |
| Sales | 61,000? | |
| Cost of Goods Sold | 1220? | |
| Inventory Returns Estimated | 1220? |
In a regression analysis, if SST = 4500 and SSE = 1575, then the coefficient of determination is
a. .35. b. .65. c. .85. d. .45.
As the rate of inflation decreases, the real rates of return will:
a. decrease if real rates increase more than the nominal rates. b. increase if nominal rates decrase more than inflation. c. increase if nominal rates increase more than inflation. d. increase if inflation decreases more than the nominal returns.
The revenue reconition principle requries that
a) revenue be recognized only after cash payment has been received b) only the amount of revenue for which cash will be received in the current fiscal year be recognized in the current year c) allows considerable latitude in the timing of revenue recognition d) revenue be recognized in the period when the firm becomes entitled to payment for good or services delivered.