To calculate the discount amount on a non-interest bearing note, use the
a. principal; b. maturity value; c. proceeds; d. all of these; e. none of these.
B
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Vanliere Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: MachiningFinishingMachine-hours 19,000 11,000Direct labor-hours 3,000 6,000Total fixed manufacturing overhead cost$138,700$52,800Variable manufacturing overhead per machine-hour$1.90 Variable manufacturing overhead per direct labor-hour $3.80 During the current month the company started and finished Job A803. The following data
were recorded for this job: Job A803:MachiningFinishingMachine-hours 90 20Direct labor-hours 20 60The predetermined overhead rate for the Finishing Department is closest to: A. $12.60 per direct labor-hour B. $8.80 per direct labor-hour C. $3.98 per direct labor-hour D. $3.80 per direct labor-hour
What is a common-size statement? Why are these statements useful?
What will be an ideal response
A balance sheet is a statement of the financial position of the firm on a given date, including its
asset holdings, liabilities, and equity. Indicate whether the statement is true or false
Although a certificate of deposit (CD) provides a ________ rate of return than a savings account, the CD is ________ liquid than the savings account
a. lower; less b. lower; more c. higher; less d. higher; more