In a job-order costing system, costs are accumulated for each individual job
Indicate whether the statement is true or false
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A hair dryer has a mean time between failures of 822 hr and mean time to repair of 1 hr. In this case, the availability is ______.
A. 99.9% B. 93.6% C. 87.3% D. 98.1%
Joan pays Eva $60,000 for her $40,000 interest in a partnership. The entry to record the sale on the partnership books is:
A) Eva, Capital 60,000 Joan, Capital 60,000 B) Joan, Capital 60,000 Eva, Capital 60,000 C) Eva, Capital 60,000 Cash 60,000 D) Eva, Capital 40,000 Joan, Capital 40,000
During March, a firm expects its total sales to be $160,000, its total variable costs to be $95,000, and its total fixed costs to be $25,000. The contribution margin for March is:
A. $90,000. B. $120,000. C. $25,000. D. $65,000. E. $40,000.
Havermill Co. establishes a $320 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $80 for Office Supplies, $151 for merchandise inventory, and $29 for miscellaneous expenses. The fund has a balance of $60. On October 1, the accountant determines that the fund should be increased by $64. The journal entry to record the reimbursement of the fund on September 30 includes a:
A. Credit to Cash for $60. B. Debit to Office Supplies for $80. C. Credit to Merchandise Inventory for $151. D. Debit Petty Cash for $260. E. Credit to Cash for $320.