Brenda found out that reputable lenders use the 28/36 rule when determining mortgage qualification. Brenda currently grosses $6,000 per month. From this she pays a $200 car payment; a personal loan of $100 and a student loan payment of $90
Based on this information, would Brenda qualify for a mortgage?
A) Yes
B) No
Answer: A
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Ahlheim Corporation has two production departments, Forming and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Forming Department's predetermined overhead rate is based on machine-hours and the Assembly 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: FormingAssemblyMachine-hours 16,000 15,000Direct labor-hours 2,000 6,000Total fixed manufacturing overhead cost$102,400$55,200Variable manufacturing overhead per machine-hour$2.30 Variable manufacturing overhead per direct labor-hour $4.50 During the current month the company started and finished Job T924. The following data were recorded
for this job: Job T924:FormingAssemblyMachine-hours 70 20Direct labor-hours 30 40Direct materials$870$385Direct labor cost$630$840The estimated total manufacturing overhead for the Forming Department is closest to: A. $309,867 B. $139,200 C. $36,800 D. $102,400
Types of Audit Opinions Subsequent to the date of the financial statements, as part of post-balance sheet date audit procedures, a CPA learned that a recent fire caused significant damage to one of the client's two manufacturing facilities. However, the
loss will not be reimbursed by insurance. Newspapers in the area describe the event in detail and the event is widely known. The financial statements and related notes as prepared by the client did not disclose the fire loss. REQUIRED: Which type of audit report would you suggest be issued this year and why?
What is the objective in the final stage of the interview process?
A) To eliminate unqualified candidates B) To determine which candidate is the best fit C) To sell the candidate on the advantages of the organization D) To allow the candidate to meet people they will be working with E) To discuss salary and benefit requirements
Sarah, a supervisor at Zenair Inc., forgets to communicate the organization's sales targets for the day to her employees, which results in low sales performance. In the context of responsibilities of a supervisor, Sarah failed to
A. specialize in her duties. B. train her subordinates. C. keep the staff informed and up to date. D. be accessible to those under supervision.