Bonded storage means that goods will not be released until U.S. customs duties or federal or state taxes or other fees are paid.
Answer the following statement true (T) or false (F)
True
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Camilla is the chief human resource officer at her company and is in charge of ethics training for all employees. Her department lacks the funding for extensive seminars and trainers, and most middle managers are not receptive to giving up their employees’ time for ethics training. What is the best possible strategy for her in administering proper ethics training?
a. Reduce the amount of ethics training--and reviews--to once every six months. b. Invest in web-based ethics training for the company. c. Provide a printed packet of ethics guidelines and best practices to each employee. d. Delegate ethics training to the managers of various departments to be implemented at their discretion.
Which of the following are drawbacks to applying actual overhead to production?
a. A delay occurs in assigning costs to jobs or products. b. Fluctuations in quantities produced during a period could cause varying per-unit charges for fixed overhead. c. Seasonality of overhead costs may cause distortions in job or product costs. d. all answers are correct.
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the factory payroll is:
A. Debit Work in Process Inventory $110,000; credit Factory Overhead $40,000; credit Factory Wages Payable $150,000. B. Debit Work in Process Inventory $150,000; credit Factory Overhead $40,000; credit Factory Wages Payable $110,000. C. Debit Work in Process Inventory $150,000; debit Factory Overhead $40,000; credit Factory Wages Payable $190,000. D. Debit Work in Process Inventory $110,000; debit Factory Overhead $40,000; credit Factory Wages Payable $150,000. E. Debit Work in Process Inventory $150,000; credit Cash $150,000.
Organizations that create various loans and investments from funds provided by depositors are known as _____.
A. investment banks B. financial intermediaries C. derivatives markets D. over-the-counter markets E. designated market makers