In the legal system, compliance usually refers to behavior that is in accordance with______
a. personal beliefs b. morality
c. legislation d. ethical codes
c
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Answer the following statements true (T) or false (F)
1. Overallocated manufacturing overhead occurs when the manufacturing overhead allocated to Work-in-Process Inventory is less than the amount actually incurred. 2. Overallocated manufacturing overhead is adjusted by debiting the Cost of Goods Sold account. 3. If the debit side of the Manufacturing Overhead account totals more than the credit side of the account, the manufacturing overhead is overallocated. 4. Job order costing is well suited for the service industry. 5. When job order costing is used in the service industry, the allocation of indirect costs is normally based on machine hours.
Ying Corporation, a Japanese construction firm, reported a balance in Income Taxes Payable of ¥3,700 million at the beginning of 2013 and ¥14,300 million at the end of 2013 . Net income before income taxes for 2013 totaled ¥73,000 million. Assume that the firm is subject to an income tax rate of 43%. Compute the amount of cash payments made for income taxes during 2013 . (Ying Corporation
applies Japanese accounting standards, and reports its results in millions of yen (¥). In answering this question, assume that Ying Corporation uses either U.S. GAAP or IFRS; for purposes of this problem, this choice will not matter.) a. ¥10,600 million b. ¥17,090 million c. ¥20,790 million d. ¥73,000 million e. none of the above
If a customer places an order for 20 units of an item, but the current inventory in stock allows your company to ship only 15 units, ______.
A. your fill rate for the item is given by 15/20 B. your fill rate for the item is given by 20/15 C. your fill rate for the item is given by (20/15)2 D. you have to ask the supplier to ship directly to customer
Technological changes have ________.
a. Made lean systems obsolete b. Increased firms’ movement away from lean c. Slowed firms’ movement away from lean d. Provided new opportunities for lean systems