Weimar Corporation is conducting a time-driven activity-based costing study in its Order Fulfillment Department. The company has provided the following data to aid in that study:Weimar CorporationOrder Fulfillment DepartmentData InputsResource Data: Number of employees 13 Average salary per employee$36,720 Weeks of employment per year 50 Minutes available per week (40 hours × 60 minutes) 2,400 Practical capacity percentage 85%?Activity Data:Processing OrdersPreparing DeliveriesHandling ReturnsMinutes per unit of the activity162844?Cost Object Data:All CustomersNumber of orders processed21,750Number of deliveries prepared11,130Number of returns handled410?On the Capacity Analysis report in time-driven activity-based costing, the "total minutes used to meet demand" would
be closest to:
A. 1,001,840 minutes
B. 1,326,000 minutes
C. 677,680 minutes
D. 353,520 minutes
Answer: C
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Answer the following statements true (T) or false (F)
1) In general, to remain competitive in an industry, a low gross profit percentage is desired. 2) Under the new revenue recognition standards, companies are required to identify the performance obligations associated with each contract. 3) Under the new revenue recognition standards, companies recognize revenue when performance obligations associated with contracts are identified. 4) A retailer sells, for cash, a television set with a two-year service contract. The retailer initially records the cash received for the service contract as Unearned Revenue. 5) Revenue from contracts with multiple performance obligations is recognized as each performance obligation is satisfied.
The relevant range of operations is a range of volume neither close to zero nor at maximum capacity.
Answer the following statement true (T) or false (F)
Anticipatory avoidance cannot be claimed if the specific goods promised to the buyer are wrongfully sold to a third party
Indicate whether the statement is true or false
The rate card for a magazine mentioned that the one-time cost for a full-page black-and-white ad was $795. The magazine had a total circulation of 15,000. Calculate the magazine's cost per thousand (CPM).
A. $188.87 B. $0.053 C. $11.93 D. $1.89 E. $53.00