Smith has applied overhead of $73,000 and actual overhead of 87,600 for the month of November. It applies overhead based on direct labor hours and those equaled 14,600 in November. Overhead for the year was estimated to be $900,000. How many direct labor hours were estimated for the year?
A) 175200
B) 180,000
C) $5
D) 150,000
E) $6
B
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Which of the following statements does not properly describe accounting for OPEB plans?
A. OPEB plans are deemed to be riskier than other debt instruments. B. Losses related to OPEB arise from a decrease in the discount rate assumptions. C. OPEB plans are mandatorily funded under the same ERISA rules as pension plans. D. Losses related to OPEB arise from an increase in the life expectancy assumptions.
Marta has a checking account with Neighbors Bank. Marta signs a check "payable to Olive" drawn on Marta's account. Neighbors Bank is A) none of the choices
B) the drawee. C) the drawer. D) the payee.
Which of the following statements is untrue regarding trade between the U.S., Canada, and Mexico?
A) Canada and the United States are each other's largest trading partners. B) Mexico underwent a serious financial crisis in 1994. C) Some key industries in Mexico are government-owned monopolies. D) Mexico has had a traditionally open market that encourages foreign investment. E)All of the above statements are correct.
A parents' group in a small town formed an association to run a little league baseball team. Tom and Mary were members of the association, which was never incorporated. Tom was elected president of the association and ordered some uniforms for the team. When the uniforms were not paid for, the baseball supply company sued Tom and Mary for the contract price. Regarding the liability of Mary:
______. A) Mary is liable because she is a member of an unincorporated association. B)Mary is not liable because members of an unincorporated association have no personal liability. C)Mary is liable if she authorized or ratified the purchase. D)Mary is liable but only for 50% of the outstanding debt.