The following data for May has been provided by McCawley Corporation. Denominator level of activity 2,600machine-hoursBudgeted fixed manufacturing overhead costs$53,820 Actual level of activity 2,700machine-hoursStandard machine-hours allowed for the actual output 2,800machine-hoursActual fixed manufacturing overhead costs$56,290 ?The volume variance for May is:
A. $4,140 F
B. $2,070 U
C. $4,140 U
D. $2,070 F
Answer: A
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Warren, Inc purchased a $400,000 life insurance policy on the company president on January 1, 2017. The premium that was paid on January 1 amounted to $11,600. In the first year, cash surrender value increased by $900 and dividends received by Warren from the insurance company for the year amounted to $300. What was Warren's insurance expense for 2017?
A) $10,400 B) $11,000 C) $12,500 D) $12,800
As medicine is one of the most unstructured domains, it is not surprising that many of the early _____ were developed to help doctors with the diagnosis of symptoms and treatment advice.
Fill in the blank(s) with the appropriate word(s).
Closing entries are required:
A. So that Revenue, expense, and dividends accounts must begin each period with zero balances. B. If management has decided to cease operating the business. C. Only if the company adheres to the accrual method of accounting. D. If a company's bookkeeper does not choose to prepare reversing entries. E. In order to satisfy the Internal Revenue Service guidelines.
An example of a cost driver for a machining activity could be:
a. number of units being machined. b. number of products requiring the machine. c. number of machine hours. d. number of machines being used. e. None of the answers are correct.