Ballenger's RV Park reports Income from Services of $34,600 as of December 31, 20--. To close the revenue account, the bookkeeper would
a. None of the answers listed
b. debit Income Summary.
c. debit Income from Services.
d. credit Income from Services.
c
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Miguez Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 2.3liters$7.00per liter$16.10 Direct labor 0.7hours$22.00per hour$15.40 Variable overhead 0.7hours$2.00per hour$1.40 The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed
when the materials are purchased.The variable overhead rate variance for September is: A. $175 F B. $168 F C. $168 U D. $175 U
The net present value method of evaluating proposed investments
a. measures a project's internal rate of return. b. ignores cash flows beyond the payback period. c. applies only to mutually exclusive investment proposals. d. discounts cash flows at a minimum desired rate of return.
In a conversation, you can hold the listener's interest by
a. putting others down. b. asking for an opinion or seeking advice. c. giving the listener the impression that his or her ideas are not important. d. none of these choices.
Opportunity costs are the additional or incremental revenues generated by selecting a certain course of action.
Answer the following statement true (T) or false (F)