Auditory Company, which applies overhead to production on the basis of machine hours, reported the following data for the period just ended:Actual units produced: 13,000Actual fixed overhead incurred: $742,000Standard fixed overhead rate: $15 per hourBudgeted fixed overhead: $720,000Planned level of machine-hour activity: 48,000If Auditory estimates four hours to manufacture a completed unit, the company's fixed-overhead budget variance would be:
A. $60,000 favorable.
B. $60,000 unfavorable.
C. $22,000 favorable.
D. $22,000 unfavorable.
E. None of the answers is correct.
Answer: D
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Use the direct method to compute the payments to suppliers for Merchandise Inventory and other operating expenses. (Accrued Liabilities relate to other operating expense.)
A) $197,000
B) $177,500
C) $19,500
D) $201,000
Strods Company reported the following purchases and sales of its only product. Strods uses a periodic inventory system. Determine the cost assigned to the ending inventory using FIFO.DateActivitiesUnits Acquired at CostUnits Sold at RetailMay 1Beginning Inventory150 units @ $10.00 5Purchase220 units @ $12.00 10Sales 140 units @ $20.0015Purchase100 units @ $13.00 24Sales 90 units @ $21.00
A. $2,590 B. $2,980 C. $2,460 D. $5,440 E. $2,850
The Lambda of an option is defined as:
A) expected change in the option premium for a small change in time to expiration. B) expected change in the option premium for a small change in volatility. C) expected change in the option premium for a small change in the spot rate. D) expected change in the option premium for a small change in the domestic interest rate.
List the steps in the legislative process for major tax reform.
What will be an ideal response?