The debits to Work in Process--Assembly Department for April, together with data concerning production, are as follows: April 1, work in process: Materials cost, 3,000 units $ 7,200 Conversion costs, 3,000 units, 40% completed 6,000 Materials added during April, 10,000 units 25,000 Conversion costs during April 30,800 Goods finished during April, 12,000 units --- April 30 work in process, 1,000
units, 40% completed --- All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is:
A) $2.48
B) $2.75
C) $2.50
D) $5.25
B
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Using the point method of job evaluation requires that managers
A. employ either a standardized program or customize a point method to fit their particular jobs. B. compare the job descriptions against the various factor-degree descriptions. C. link point totals to the wage curve. D. rank jobs by compensable factors.
Generally speaking, not-for-profit organizations record and measure transactions and events in the same manner as commercial enterprises. They do, however, differ from commercial enterprises in two important ways. Which of the following is one of those differences?
A. Commercial enterprises use accrual accounting and not-for-profits use modified accrual accounting. B. Donors frequently impose restrictions on the use of donated resources. C. Not-for-profit organizations receive considerable amounts of resources from the government. D. Not-for-profit organizations do not record revenues until money is actually received.
You currently have $67,000 in an interest-earning account. From this account, you wish to make 20 year-end payments of $5,000 each. What annual rate of return must you make on this account to meet your objective?
A) 4.16% B) 5.03% C) 6.42% D) 7.32%
In audits of state and local government units which of the following sections may not be required in the auditor's report for every audit?
A. Other Matters section. B. Other Information section. C. Auditor's Responsibility section. D. Auditor's Opinion section.