Omega Corporation uses process costing to calculate the cost of manufacturing pool systems. Beginning work in process included 30,00 . units 60 percent complete. During the month 170,00 . units were completed, 20,00 . units remain in work in process at 80 percent complete. Using the average cost method, the equivalent units are:
a. 170,000
b. 196,000
c. 186,000
d. 190,000
c
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Alex, Bob, and Ciera are partners, sharing income 2:1:2. After selling all of the assets for cash, dividing gains and losses on realization, and paying liabilities, the balances in the capital accounts are as follows: Alex, $10,000 Cr; Bob, $10,000 Cr; and Ciera, $30,000 Cr. How much cash should be distributed to Alex?
a. $6,000 b. $20,000 c. $10,000 d. $16,667
Janet is the purchasing agent at Frameco Manufacturing. Her duties include vendor selection and ordering materials. Due to a recent economic downturn and resulting cut backs, Janet has been assigned the additional duty of preparing receiving reports after comparing the goods received to the purchase order. This is an example of:
a. unlimited access to materials. b. independence of assigned functions. c. misappropriation of assets. d. a lack of segregation of duties.
The post-closing trial balance contains
a. nominal accounts only. b. both real accounts and nominal accounts. c. real accounts only. d. neither real accounts nor nominal accounts.
Which of the following statements about nonverbal messages is FALSE?
a. Nonverbal messages cannot be avoided. b. Nonverbal messages may be beneficial or harmful. c. Nonverbal messages may be intentional or unintentional. d. Nonverbal messages are consistent across cultures.