The journal entry to record indirect labor costs incurred includes a debit to Manufacturing Overhead and credit to Wages Payable
Indicate whether the statement is true or false
TRUE
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Explain the types of discretionary information a company like Google would collect from its accounting information system.
What will be an ideal response?
A nonprofit organization is advertising for volunteers to distribute water bottles to runners participating in an annual marathon. What type of volunteer does the organization need?
A. spot B. regular C. episodic D. mandated
Country Bank, located in Indiana, loaned Chmelik $5,000 and obtained a security interest in a copyright Chmelik owns. Chmelik lives in Illinois, but works in Indiana. In order to perfect its interest, Country Bank files a financing statement in Indiana. The financing statement provides Chmelik's correct name, his business address, and a reasonable description of the copyright used as collateral
Is the financing statement sufficient? a. Yes, it meets the UCC requirements for contents and filing. b. No, if the debtor is an individual, the secured party must file in the state of the debtor's principal residence, which in this case would be Illinois. c. No, the contents of the financing statement are incomplete. d. Both b and c are correct.
The following static budget is provided: Units 28,000? UnitsSales$280,000? Less variable costs: Manufacturing costs$98,000? Selling and administrative costs$58,800? Contribution margin$123,200? Less fixed costs: Manufacturing costs$44,800? Selling and administrative costs$21,000? Net income$57,400? What will budgeted net income equal if 26,000 units are produced and sold? (Do not round intermediate calculations.)
A. $48,600 B. $29,400 C. $560,000