Before shareholders can bring a derivative suit, they must submit a written demand to the corporation, asking the board of directors to take action.
Answer the following statement true (T) or false (F)
True
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Underapplied overhead is adjusted on the work sheet by debiting Overapplied Overhead and crediting Work in Process Inventory
a. True b. False Indicate whether the statement is true or false
Unlike the more optimistic, team-oriented Gen Xers, Gen Yers are more pragmatic and individualistic
Indicate whether the statement is true or false
Which of the following is a pricing strategy that turns the typical assumption about price-demand relationships on its head?
A) penetration pricing B) price bundling C) assimilation effect pricing D) placebo effect pricing E) prestige pricing
A company uses the following standard costs to produce a single unit of output. ? Direct materials6 pounds at $0.90 per pound=$5.40 Direct labor0.5 hour at $12.00 per hour=$6.00 Manufacturing overhead0.5 hour at $4.80 per hour=$2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $56,350 based on 4,900 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $15,000 and fixed manufacturing overhead incurred was $10,400. Based on this information, the direct labor rate variance for the month was:
A. $3,650 unfavorable B. $3,650 favorable C. $1,200 favorable D. $2,450 favorable E. $1,200 unfavorable