Which of the following is true about absorption costing?
a. No fixed factory overhead is charged to production.
b. It is also known as direct costing.
c. The term used to designate the difference between sales and cost of goods sold is the "manufacturing margin.".
d. Overapplied factory overhead is reflected in the income statement as a reduction cost of goods sold.
d
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A board of directors wants to hold an organizational retreat so they can interact with the chief executive officer, paid staff, and volunteers of their organization. The board is practicing which leadership theory?
A. path-goal B. life-cycle C. empowerment D. leader–member exchange
An employee receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $300; cumulative earnings for year prior to current week, $90,700; social security tax rate, 6.0% on maximum of $100,000; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid the employee?
A) $1,470 B) $1,059.75 C) $1,381.80 D) $1,249.50
Research suggests that ________% of training actually transfers to the work environment.
a. 1 b. 10 c. 25 d. 70
A company's flexible budget for 12,000 units of production showed sales, $48,000; variable costs, $18,000; and fixed costs, $16,000. The variable costs expected if the company produces and sells 16,000 units is:
A. $48,000. B. $24,000. C. $40,000. D. $64,000. E. $18,000.