The ABC system is an inventory management technique for determining the optimal order quantity for an item of inventory
Indicate whether the statement is true or false
FALSE
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________ are statements about proposed relationships rather than merely questions to be answered
A) Theories B) Models C) Experiments D) Hypotheses E) Scientific notation
On September 30 of the current year, a company acquired and placed in service a machine at a cost of $700,000. It has been estimated that the machine has a service life of five years and a salvage value of $40,000. Using the double-declining-balance method of depreciation, complete the schedule below showing depreciation amounts for all six years (round answers to the nearest dollar). The company closes its books on December 31 of each year. YearDepreciation for the PeriodEnd of Period?Beginning ofPeriod BookValueDepreciationRateDepreciationExpenseAccumulatedDepreciationBookValue1?????2?????3?????4?????5?????6?????
What will be an ideal response?
This year, the Huang Trust received $20,000 of dividends and $30,000 of tax-free interest. It distributes all of its receipts to its beneficiary. How should the beneficiary treat the distribution?
What will be an ideal response?
Fleurant, Inc., manufactures and sells two products: Product W2 and Product P8. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected ProductionDirect Labor-Hours Per UnitTotal Direct Labor-HoursProduct W24006.02,400Product P86004.02,400Total direct labor-hours 4,800The direct labor rate is $29.10 per DLH. The direct materials cost per unit is $195.60 for Product W2 and $132.30 for Product P8.The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: EstimatedExpected ActivityActivity Cost PoolsActivity MeasuresOverhead CostProduct W2Product
P8TotalLabor-relatedDLHs$210,5762,4002,4004,800Production ordersorders 17,738400300700Order sizeMHs 273,4303,8003,6007,400 $501,744 If the company allocates all of its overhead based on direct labor-hours using its traditional costing method, the overhead assigned to each unit of Product W2 would be closest to: (Round your intermediate calculations to 2 decimal places.) A. $263.22 per unit B. $627.18 per unit C. $221.70 per unit D. $152.04 per unit