Answer the following statements true (T) or false (F)
1. The chief financial officer, controller, and treasurer are all examples of staff positions.
2. Strategic planning focuses on short term actions while operational planning involves developing long-
term strategies.
3. The cost of direct materials cannot easily be traced to the manufactured product, and therefore, it is a
component of manufacturing overhead.
4. Direct costs and indirect costs can be easily traced directly to a cost object.
5. The wages of factory janitors are considered to be direct labor costs because they are directly related
to the manufacturing process.
1. TRUE
2. FALSE
3. FALSE
4. FALSE
5. FALSE
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Callum Corporation is conducting a time-driven activity-based costing study in its Tech Support Department. The company has provided the following data to aid in that study:Callum CorporationTech Support DepartmentData InputsResource Data: Number of employees 10 Average salary per employee$44,880 Weeks of employment per year 50 Minutes available per week (40 hours × 60 minutes) 2,400 Practical capacity percentage 85%?Activity Data:Routing CallsResolving ProblemsPreparing Change OrdersMinutes per unit of the activity142448?Cost Object Data:Customer MCustomer NCustomer OAll CustomersNumber of calls routed2921614,210Number of problems resolved1711910,440Number of change orders prepared010410?On the Customer Cost Analysis report in time-driven activity-based costing, the
total cost assigned to Customer N would be closest to: A. $129.36 B. $266.64 C. $116.16 D. $21.12
________ is a process by which the government acquires the ownership of private property for a public use over the protest of the owner of the property
A) Condemnation B) Adverse possession C) Ratification D) Reverse possession
Bill's annual savings rate is 9%. If Bill currently saves $6,750 annually, how much more will he need to save to increase his savings rate to 11%?
A) $8,250 B) $135 C) $1,500 D) more information needed to determine the answer
Betsy's Clothiers, a dress factory in Boston since 1927, had 100 employees working in her dress-making factory. Many of the employees are women and children who work long hours. She rotates shifts throughout the day so employees do not do the same tasks throughout the entire day. She discovered that this makes it possible for the children to work longer and harder. She also allows employees to take a 15-minute lunch break and two breaks during the day to use the restroom. One of her employees, a ten-year-old named Sam, has complained that it is too cold in the factory to work in the winter and too hot to work in the summer and that 15 minutes is an insufficient amount of time to eat lunch. He has reported Betsy's Clothiers to the mayor and asked that he intervene on behalf of the
employees at the factory. Which of the following statements was true about government regulation of businesses prior to 1930 and how this regulatory scheme will affect Sam? A. Government agencies published accounts of consumers' grievances and held sellers accountable for their actions so it is likely Sam's story will be heard and acted on. B. Government will probably not interfere because it only became involved in obvious abuse of the free-market system. C. It was not widely believed that competition would correct abuses in the business marketplace so intervention will be immediate and swift. D. Government frequently became involved in the day-to-day activities of businesses so this company should have expected government regulators to intervene in this situation.