Beans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $162,000, variable manufacturing overhead of $2.80 per direct labor-hour, and 60,000 direct labor-hours. Recently, Job K818 was completed with the following characteristics:Number of units in the job10Total direct labor-hours50Direct materials$920Direct labor cost$1,400If the company marks up its unit product costs by 40% then the selling price for a unit in Job K818 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $363.30
B. $383.30
C. $324.80
D. $103.80
Answer: A
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Answer the following statements true (T) or false (F)
1. When Angela, a new nurse was hired at Mercy Hospital, the HR manager gave her a handout containing a chart that showed a family-tree-like pattern of boxes and lines. This document, which shows the formal lines of authority and the organization's official positions and work specializations, at the hospital is called an organization chart. 2. The arrangement of having discrete parts of a task done by different people is known as division of labor. 3. Tom's Hardware has a simple organizational structure. There are no levels of middle management, because all employees report to the owner, Tom, or to his assistant managers. Tom's Hardware has a thin organizational structure. 4. Two advantages of decentralization are that (1) managers are encouraged to solve their own problems, and (2) decisions are made more quickly, increasing the organization's flexibility and efficiency.
Which of the following is true of a statute of repose?
A. The people covered by statutes of repose now can bring suit even if their injury is not discovered within the statutory period. B. It is a significant change in the law for people who are injured by products that cause immediate injury. C. It bars the bringing of a tort-based product liability suit usually after five years from the date the product is first sold to a user. D. The people covered by statutes of repose cannot bring suit if their injury is not discovered within the statutory period.
Kang Co. reports work in process inventory of $1,085 and cost of goods sold of $56,575. Days' sales in work in process inventory is:
A. 4 days B. 5 days C. 7 days D. 6 days E. 8 days
During interviews, there is typically an exchange of information between the job candidate and interviewer. What should you be prepared to discuss during this part of the interview?