Norwood Corporation uses a predetermined overhead rate of $20 per machine hour. In deriving this figure, the company's accountant used:
A. a numerator of actual machine hours for the current accounting period.
B. a numerator of budgeted machine hours for the current accounting period.
C. a denominator of budgeted machine hours for the current accounting period.
D. a denominator of actual machine hours for the current accounting period.
E. a denominator of actual machine hours for the previous accounting period.
Answer: C
You might also like to view...
Which is least likely to be classified as a sale of a component?
A) sale by a communications company of its radio stations, but none of its television stations B) sale by a food distributor of its wholesale supermarket division while maintaining its wholesale fast-food restaurants division C) sale by an apparel manufacturer of a woolen suit manufacturing plant in order to concentrate on the manufacture of suits from synthetic products D) sale by a meat-packing company of its (entire) 20% interest in a professional football team
J & J Co offers a "subscription" for baby toys to be delivered every two months from the birth of a child. Payment must be made within two weeks of delivery. The Markham family accepted the J & J plan when their son, Timmy, was born. When Timmy was four months old, one J & J toy arrived smashed to pieces. Markham:
a. can treat the whole contract as breached and refuse to pay for past installments as well as future installments. b. can reject the installment and cancel the contract immediately. c. can reject the installment and refuse to pay for it if J & J cannot cure it. d. cannot reject the installment since it is part of a series.
As a matter of law an employee handbook cannot serve as part of an implied employment contract for purposes of unlawful dismissal of an employee
Indicate whether the statement is true or false
The Board of Governors sets reserve requirements
Indicate whether the statement is true or false