Neptune Fabrication Plant has provided you with the following information
Total manufacturing overhead costs estimated at the beginning of the year $252,000
Total direct labor costs estimated at the beginning of the year $123,000
Total direct labor hours estimated at the beginning of the year 5,250 direct labor hours
Actual manufacturing overhead costs for the year $241,000
Actual direct labor costs for the year $131,000
Actual direct labor hours for the year 5,000 direct labor hours
The company bases its manufacturing overhead allocation on direct labor hours. What was the unadjusted ending balance in the Manufacturing Overhead account?
A) $27,390 credit balance
B) $27,390 debit balance
C) $1,000 credit balance
D) $1,000 debit balance
D .
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A company's Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense for the year is $3,100, what amount of office supplies was purchased during the period?
A. $2,900. B. $3,700. C. $3,300. D. $2,700. E. $3,500.
Tender means to physically deliver the goods to the buyer
a. True b. False Indicate whether the statement is true or false
The result of an inventory stockout usually results in
A. an increase in inventory costs. B. an increase in lost sales. C. an increase in net profit. D. an increase in loyal customers. E. a decrease in prices.
In which of the following scenarios does history create a business advantage?
A. To maintain a business advantage, Cindy's Cinnies keeps the recipe for their highly popular cinnamon rolls top secret. B. HGT Enterprises and BDO, Inc., both West Coast real estate development firms, have been fierce competitors for more than 20 years. C. Smooth Scent's new ad campaign gives this body lotion and cosmetics company a business advantage over competitors. D. The first company to sell vacuum cleaners in the retail market, Suck It Up, uses its experience to maintain a business advantage. E. Using its market research, Rise n'Shine devises the best-selling alarm clock to hit the market in the last 20 years.