Pro forma financial statements are prepared at the end of the year and are used to evaluate the performance of managers.
Answer the following statement true (T) or false (F)
False
Pro forma financial statements are based on projected (budgeted) rather than historical information.
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The overhead rate is equal to the total estimated overhead costs divided by the actual cost driver level
Indicate whether the statement is true or false
Kragle Corporation reported the following financial data for one of its divisions for the year; average invested assets of $470,000; sales of $930,000; and income of $105,000. The investment turnover is:
A. 22.3. B. 50.5. C. 447.6. D. 11.3. E. 1.98.
If assets are numbered from 100-199, which of the following accounts would not be given a number in the 100 series?
A. Prepaid Rent B. Supplies C. Accounts Payable D. Accounts Receivable
Traditional evaluation criteria emphasize stereotypically female characteristics.
a. true b. false