A motion for a directed verdict occurs immediately after the last pleading is filed
Indicate whether the statement is true or false
False
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Magnolia Company has identified seven activities as part of its manufacturing process and chosen corresponding activity drivers for each activity. The chart below lists the total cost of each activity, the amount of activity driver used for each of Magnolia's two products, the activity rate, and the activity cost assigned to each product. Fill in the blanks below:ActivityCostActivity DriverDriver UsageActivity RateActivity Cost: Prod. 1Activity Cost: Prod. 2???Prod. 1Prod. 2???Design$60,000Design time800 hours1,200 hoursa.b.c.Preparation$18,000Labor hours3,000 hoursd.e.$9,000f.Machining$90,000Machine
hoursg.h.$18.00/hour$27,000i.Finishingj.Batches200300$50/batchk.l.Inspectionm.Unitsn.o.$6/unit$3,000$6,000Packagingp.Ordersq.50$300/order$13,500r.Shipping$17,000Packages70s.t.u.$3,000 What will be an ideal response?
On October 1, 2017, Nurix, Inc. purchased a patent for $100,000 cash. Although the patent gives legal protection for 20 years, it is expected to be used for only eight years. Journalize the purchase of the patent
What will be an ideal response
What is the primary difference between ISO 9000 and ISO 14000?
A. More organizations have adopted ISO 14000. B. ISO 9000 is more focused on employee compensation. C. ISO 14000 involves environmental concerns. D. ISO 9000 is used only in Europe; ISO 14000 is used worldwide. E. ISO 14000 is used for service businesses instead of manufacturers.
Allen Company bought a new copy machine to be depreciated straight line for three years for use by sales personnel. Where would this purchase be reflected on the Statement of Cash Flows?
A) It would be an expense on the income statement so it would be reflected in operating cash flows. B) It would be an addition to property, plant and equipment so it would be an investing activity. C) It would be an addition to cash so it would be reflected in the change in cash. D) None of the above answers is correct.