The Work in Process Inventory account of a manufacturing company has a $3,200 debit balance. The company applies overhead using direct labor cost. The cost sheet of the only job still in process shows direct material cost of $1,400 and direct labor cost of $800. Therefore, the amount of applied overhead is:
A. $2,200.
B. $2,400.
C. $1,800.
D. $1,000.
E. $800.
Answer: D
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In economic expansions, the dollar usually
A. appreciates. B. depreciates. C. remains unaffected. D. follows no consistent pattern.
Answer the following statements true (T) or false (F)
1. Pleasant Resort, a successful 100-year-old hotel and resort, entered into a co-marketing arrangement with A-Plus Hotels, a five-star hotel chain. Both companies benefit from the new relationship. Pleasant is now able to market its facility and services through A-Plus's marketing team, and A-Plus Hotels now offers access to an upscale resort that it can recommend to its customers who are looking for a resort experience. A-Plus Hotels and Pleasant Resort can be considered strategic allies. 2. The general environment, or macroenvironment, includes six forces: economic, technological, sociocultural, demographic, political-legal, and international. 3. When the Kiddie Village Daycare Center looks at the recent increase in the number of working mothers in its neighborhood to determine how many employees to hire, its managers are studying demographic forces. 4. Paul, the vice president of marketing in an international sales organization, is considering opening an office in a new country. He is looking at the current economic, political, legal, and technological global forces in that country that can affect the success of his company's expansion into the new area. These forces that Paul is studying are international forces. 5. Just before introduction of a new revolutionary laptop, the Top205 by Top Computers, Greg, the CEO of Top, was informed that a problem with a part inside the Top205 may cause reliability issues. Greg knows that correcting the problem will delay the introduction of the product, and be expensive due to possible order cancelations and added advertising costs. But he also knows that allowing the new flawed computer into the market will affect Top Computers' reputation. Greg's decision whether to delay the introduction of the Top205 or proceed as planned is an example of an ethical dilemma.
Joshua desires to purchase an annuity on January 1, 2014, that yields him five annual cash flows of $10,000 each, with the first cash flow to be received on January 1, 2017. The interest rate is 10% compounded annually. The cost (present value) of the annuity on January 1, 2014, is
A) $31,328.81. B) $34,461.70. C) $37,907.87. D) $48,684.19.
Inventory shortage is recorded when
A) merchandise is returned by a buyer. B) merchandise purchased from a seller is incomplete or short. C) merchandise is returned to a seller. D) there is a difference between a physical count of inventory and inventory records.