Which best defines the function of SQL in a database?
A) It is the language relational databases use to query the database
B) It is the language relational databases use to create database objects and to manipulate and retrieve data
C) It is a language like Java or C# for creating applications
D) It is the name of Microsoft's relational database manager
B
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In which of the following situations should a company use process costing rather than job order costing?
A) If the product cost is accumulated in a single Work in Process Inventory account B) If the product is produced based on individual customer specifications C) If the product is composed of mass-produced homogeneous units D) If the product goes through a single stage of production
The rate earned on current assets is one of the measures of solvency
Indicate whether the statement is true or false
State limited liability company statutes are uniform.
Answer the following statement true (T) or false (F)
Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the labor-hours for the upcoming year at 46,000 labor-hours. The estimated variable manufacturing overhead was $6.25 per labor-hour and the estimated total fixed manufacturing overhead was $1,026,260. The actual labor-hours for the year turned out to be 41,200 labor-hours. The predetermined overhead rate for the recently completed year was closest to:
A. $31.16 per labor-hour B. $28.56 per labor-hour C. $22.31 per labor-hour D. $6.25 per labor-hour