At the beginning of the period, the Assembly Department budgeted direct labor of $110,000, direct material of $170,000 and fixed factory overhead of $28,000 for 8,000 hours of production. The department actually completed 10,000 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting
A) $288,000
B) $305,000
C) $350,000
D) $378,000
D
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Which of the following is not a problem of APB Statement 4 mentioned in the text?
a. It is questionable whether the objectives can be implemented by means of the various principles derived from the existing body of accounting. b. It contains a loosely worded set of definitions. c. It attempts to be all things to all people. d. It does not state important evolutionary changes that had begun to occur.
Filmore Enterprises The following information is from Filmore's 2012 accounting records. Sales $182,000 Beginning inventory 28,800 Purchases 126,500 Gross profit percentage 40% Refer to the information provided for Filmore Enterprises. Using the gross profit method, estimate Filmore's cost of goods sold at year-end
A) $109,200 B) $102,900 C) $72,800 D) $78,200
Informal efforts, as opposed to official job assignments, in which employees work to create new products and processes of their own choosing and initiative refer to
A. sponsorship. B. spin-offs. C. horse trading. D. bootlegging. E. skunkworks.
More than half of the research of technology created is paid for by
A. corporations. B. state and local governments. C. the federal government. D. large universities. E. private investors.