Mango Company applies overhead based on direct labor costs. For the current year, Mango Company estimated total overhead costs to be $300,000, and direct labor costs to be $150,000. Actual overhead costs for the year totaled $330,000, and actual direct labor costs totaled $170,000. At year-end, the balance in the Factory Overhead account is a:

A. $10,000 Debit balance.
B. $330,000 Debit balance.
C. $10,000 Credit balance.
D. $170,000 Debit balance.
E. $340,000 Credit balance.


Answer: C

Business

You might also like to view...

Which statement is true of tariff reductions?

a. Reciprocal tariff liberalization has quickly become widespread to support free trade. b. Tariff reductions primarily benefit import-competing industries within a nation. c. Tariff reductions lead to increased foreign competition that undermines the welfare of a nation. d. Tariff reductions can increase the overall welfare of a nation when affected industries are compensated for their losses.

Business

Accounting standards require entities to follow a five-step approach for recognizing revenue.

Answer the following statement true (T) or false (F)

Business

Blizzard Entertainment, Inc., one of the owners of the World of Warcraft (WoW) computer game, is involved in a lawsuit with MDY Industries, LLC, the owner of Glider, a software program that plays WoW for its players while they are away from their keyboards. Blizzard asks the court to direct MDY to stop selling and distributing Glider. The court's opinion in the case is at MDY Industries, LLC v. Blizzard Entertainment, Inc., 616 F.Supp.2d 958 (D.Ariz. 2010). What is the name for the remedy that Blizzard is seeking? What type of remedy is it? What court decided this case? Specifically where can the court's opinion be found?

What will be an ideal response?

Business

Riki files a suit against Stevedore Shipping Corporation under the Civil Rights Act of 1964, alleging employment discrimination on the basis of gender on a disparate-impact theory. To succeed, Riki must show that Stevedore hires fewer women than the percentage of

A. qualified women in the local labor market. B. qualified women in the United States. C. women in Stevedore's state. D. women who apply to Stevedore for work.

Business