The formula to calculate the predetermined factory overhead rate is ________
a. estimated total factory overhead costs / estimated labor costs
b. estimated total factory overhead costs / estimated activity base
c. estimated activity base / estimated total factory overhead costs
d. estimated labor costs / estimated total factory overhead costs
b
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An edit test is considered to be which type of control?
a. An input control. b. A processing control. c. An output control d. A supporting control.
What was the main argument of ARB 36?
a. ERISA did not create a pension liability except in the likelihood of plan termination. b. The cost of providing pension benefits should be spread over the remaining service life of employees. c. Pension expense should be computed using any one of five acceptable accumulated benefit methods, regardless of cash contributions. d. The balance sheet should report unfunded vested benefits.
Title VII of the Civil Rights Act was intended to eliminate job discrimination based on race, color, national origin, sex, and religion
Indicate whether the statement is true or false
A firm has a cash conversion cycle of 60 days. Annual outlays are $12 million and the cost of financing is 12 percent. If the firm reduces its average age of inventory by 10 days, the annual savings is ________. (Assume a 365-day year.)
A) $10,400 B) $14,000 C) $28,800 D) $39,452