A credit balance in the Manufacturing Overhead account at the end of the year means that manufacturing overhead was overapplied.
Answer the following statement true (T) or false (F)
True
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Operating leverage is
A) concerned with the relative mix of fixed costs and variable costs in the organization B) the use of fixed costs to extract higher percentage changes in profits as sales activity changes C) likely to be higher in an automated manufacturing system than in a manual system D) all of these E) none of these
Under the Second Restatement, a possessor of land has a legal duty to warn business invitees of obvious dangers that invitees should be able to discover themselves
a. True b. False Indicate whether the statement is true or false
Article I, Section 8, of the U.S. Constitution permits Congress to regulate interstate commerce
a. True b. False Indicate whether the statement is true or false
In which of the following situations is the seller a merchant under Article 2 of the UCC?
A)Paul, a full-time college student, sold his textbooks to State Bookstore. B)Randall, a part-time college student and full-time father, sold his textbooks to a friend. C)Zompa Inc., a toy manufacturer, contracted to sell dolls to TonTon Department Store. D)Mabel, a stay-at-home mom, sold her car to her friend Gloria.