The Davis Corporation budgeted factory overhead at $250,00 . for the period for the Assembly Department based on a budgeted volume of 100,00 . direct labor hours. At the end of the period, the factory overhead control account for the Assembly Department had a balance of $252,000 . The actual (and allowed) direct labor hours were 103,000. What was the over- or underapplied factory overhead for the
period?
a. $3,00 . underapplied
b. $3,00 . overapplied
c. $5,500 underapplied
d. $5,500 overapplied
d
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Utah Co sold merchandise to Big Sky Corp on December 1, 2016, for $9,000, and accepted a promissory note for payment in the same amount. The note has a term of 90 days and a stated interest rate of 8%. Utah's accounting period ends on December 31 . What amount should Utah recognize as interest revenue on December 31, 2016 (if a 360 day year is assumed)?
a. $ -0- b. $ 60 c. $120 d. $180
All of the following statements are true except:
a. U.S. standards do not require a classified balance sheet. b. IFRS require companies to present classified balance sheets. c. Under IFRS, an unclassified balance sheet based on the order of liquidity is acceptable only when it provides more reliable information than a classified one. d. U.S. standards require a classified balance sheet with liabilities in order by size or by order of liquidity.
To make an e-mail newsletter useful for customers, one should ________
A) keep them lengthy B) disseminate them at regular intervals C) not include links to product offers D) not include links to full-length articles
The closeness desirability rating is an office layout that should be?
a. Minimized b. Maximized c. Reduced to zero d. The closeness desirability rating is a qualitative measure