The following data relates to Mangini Company's estimated amounts for next year.Estimated:Department 1 Department 2Manufacturing overhead costs$320,000 $400,000 Direct labor hours65,000DLH 75,000DLHMachine hours2,000MH 2,500MH What is the company's plantwide overhead rate if machine hours are the allocation base? (Round your answer to two decimal places.)
A. $150.00 per MH
B. $5.14 per MH
C. $160.00 per MH
D. $31.11 per MH
E. $200.00 per MH
Answer: C
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According to Hofstede, which of the following is a dominant characteristic of a society with high power-distance?
A) Societies regulate behavior with very few rules. B) Status is not given much importance. C) People are integrated into strong, cohesive in-groups. D) Inequality is expected by all.
Which of the following types of corporations sells shares to people who often have little interest in it except as investors?
A. Nonprofit corporations B. Closely held corporations C. Municipal corporations D. Publicly held corporations
The big problem a franchisor faces is
A. allowing franchisees to achieve scale economies. B. maintaining quality control due to a lack of commitment to consistency and standardization. C. eliminating the costs and risks associated with establishing a foreign business location. D. achieving higher product quality and better product performance than with an export strategy. E. sharing foreign facilities and marketing strategies with local businesses.
Larsen Company began the current year with balances in accounts receivable and allowance for doubtful accounts of $45,700 and $1,280, respectively. The company reported credit sales of $475,250 during the year, collected $480,200, and wrote off $800 of uncollectible accounts. Larsen Company estimates that 12% of its accounts receivable balance will be uncollectible.Required:a) Determine the balance in the allowance for doubtful accounts as of the end of the current year.b) Compute Larsen Company's uncollectible accounts expense for the current year.c) Determine Larsen's net realizable value of accounts receivable as of the end of the current year.
What will be an ideal response?