"Getting this new business launched was absolutely a team effort, and clearly a situation of 2 + 2 = 5. Like all of you, I worked a lot harder in this team than I would have alone," said Kayley. Kayley's team members exemplified the social facilitation effect, in which
A. a team member keeps abreast of current developments and informs the team of relevant information.
B. teams give direction to the subunits under their jurisdiction.
C. team members are so cooperative that agreeing with one another's opinions and refraining from criticizing others.
D. individuals work harder when they are members of a group than when they are working alone.
E. teams operate separately from the regular work structure.
F. ideas become norms.
Answer: D
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Golden Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Golden uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:
Direct materials: 2 pounds per unit; $3 per pound Labor: 4 hours per unit; $20 per hour During the first quarter, Golden produced 5000 units of this product. At the end of the quarter, an examination of the direct materials records showed that the company used 9500 pounds of direct materials and the direct materials cost variance was $3750 U. Which of the following is a logical explanation for this variance? A) The company used more labor hours than allowed by the standards. B) The company paid a higher cost per hour for labor than allowed by the standards. C) The company used a greater quantity of direct materials than allowed by the standards. D) The company paid a higher cost for the direct materials than allowed by the standards.
The full disclosure principle:
A. Prescribes that a company report the details behind financial statements that would impact users' decisions. B. Prescribes that accounting information is based on actual cost. C. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold. D. Provides guidance on when a company must recognize revenue. E. Prescribes that a company record the expenses it incurred to generate the revenue reported.
One basic assumption of linear programming is divisibility. Explain its need
What will be an ideal response?
Chojnowski Incorporated makes a single product-a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted (Planned) Overhead: Budgeted variable manufacturing overhead$82,450 Budgeted fixed manufacturing overhead 325,975 Total budgeted manufacturing overhead$408,425 Budgeted production (a) 25,000units Standard hours per unit (b) 1.70labor-hours Budgeted hours (a) × (b) 42,500labor-hours Applying Overhead: Actual production (a) 20,000units Standard hours per unit (b) 1.70labor-hours Standard hours allowed for the actual
production (a) × (b) 34,000labor-hours Actual Overhead and Hours: Actual variable manufacturing overhead$74,812 Actual fixed manufacturing overhead 312,975 Total actual manufacturing overhead$387,787 Actual hours 31,700labor-hours ?The variable component of the predetermined overhead rate is closest to: A. $1.76 per labor-hour B. $1.94 per labor-hour C. $2.20 per labor-hour D. $2.36 per labor-hour