Arbor, Inc. had overhead of $310,000 during the year when $260,000 in labor costs were incurred. Estimates at the start of the year for overhead and labor costs were $300,000 for overhead and $250,000 for labor costs. The predetermined overhead rate would be:
A. 83.33%.
B. 120.00%.
C. 104.00%.
D. 101.67%.
Answer: B
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Fixed compensation receives more emphasis in sales rep jobs with ________
A) a high ratio of selling to nonselling duties B) a high requirement for individual initiatives C) an intensive focus on selling activities D) very little need for teamwork E) technical complexities
To validate the study, the supervisors call 1 percent to 10 percent of the respondents to inquire whether the field workers actually conducted the interviews
Indicate whether the statement is true or false
Gracio Co. had the following transactions in the last two months of its year ended December 31. Prepare entries for these transactions under the method that records prepaid expenses as expenses and records unearned revenues as revenues. Also prepare adjusting entries at the end of the year.Nov. 1Paid $11,400 for 12 months of insurance coverage through October 31 of next year.5Received $8,000 cash for future services to be provided to a customer.7Paid $10,000 for future advertising.Dec. 31A portion of the insurance paid for on November 1 has expired. No adjustment was made in November to the insurance account.31Services of $2,500 are not yet provided to the customer who paid on November 5.31Of the advertising paid for on November 7, $1,500 is not yet used.
What will be an ideal response?
Which of the following should be reported net of the related income tax effect on the income statement?
a. Loss due to a discontinued segment of a business b. Sale of a temporary investment at a loss c. Loss due to shoplifting d. Sale of an inventory item at a loss