TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard StandardStandard Quantity PriceCostDirect Materials 8pounds $1.80per pound $14.40 Direct Labor 0.25hour $8.00per hour 2.00 $16.40 During November, TaskMaster purchased 160,000 pounds of direct materials at a total cost of $304,000. The total factory wages for November were $42,000, 90% of which were for direct labor. TaskMaster manufactured 19,000 units of product during November using 142,500 pounds of direct materials and 5,000 direct labor hours. What is the direct materials price variance for November?
A. $14,400
B. $16,000
C. $14,250
D. $17,100
Answer: B
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The Salty Chip Company includes one coupon having no expiration date with its deluxe snack pack. Upon return of 10 coupons, Salty Chip will send a silver chip clip, which costs Salty Chip $1.50 each. Past experience indicates that 30% of coupons issued will be redeemed. Salty Chip began this promotion in 2015 and sold 1,000,000 deluxe snack packs. During 2015, 90,000 coupons were received and
9,000 chip clips were distributed to customers. The December 31, 2015 balance sheet should include a liability for coupons outstanding of A) $18,000. B) $180,000. C) $31,500. D) $50,000.
Exhibit 19-01Marley Co. has an underfunded prepaid/accrued pension cost of $2,000 (debit balance) at December 31, 2015. The following information pertains to 2016: Pension expense$320,000 Projected benefit obligation, December 31, 2015840,000 Contributions330,000 Plan assets (fair value), December 31, 2015810,000 Refer to Exhibit 19-1. The December 31, 2016, adjusting entry should be
A. Other Comprehensive Income 30,000 Accrued/Prepaid Pension Cost 30,000 B. Accrued/Prepaid Pension Cost 30,000 Other Comprehensive Income 30,000 C. Other Comprehensive Income 42,000 Accrued/Prepaid Pension Cost 42,000 D. Accrued/Prepaid Pension Cost 40,000 Other Comprehensive Income 40,000
When using e-mail, service desks often use forms, which are predefined items that can be used to quickly create standard e-mail messages.
Answer the following statement true (T) or false (F)
Which of the following project audit report questions addresses PMBOK's human resources management knowledge area?
A) Are quality metrics developed, measured, and monitored? B) Are minutes of meetings stored and distributed? C) Is the project team being recognized and rewarded? D) Does the project plan consist of a contingency plan?