Reck Corporation uses activity-based costing to assign overhead costs to products. Overhead costs have already been allocated to the company's three activity cost pools as follows: Machining, $11,700; Order Filling, $17,800; and Other, $13,500. Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity data appear below: MHs (Machining)Orders (Order Filling)Product P76,900200Product V83,100800What is the overhead cost assigned to Product V8 under activity-based costing?
A. $17,867
B. $3,627
C. $21,500
D. $14,240
Answer: A
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The five economic attributes that are normally studied are demand, supply, manufacturing, ____________________, and investing and financing
Fill in the blank(s) with correct word
For the year ended December 31, a company has revenues of $330,000 and expenses of $202,500. The company paid $55,200 in dividends during the year. The balance in the Retained earnings account before closing is $94,000. Which of the following entries would be used to close the dividends account?
A. Debit Income Summary $55,200; credit Retained earnings $55,200. B. Debit Dividends $55,200; credit Retained earnings $55,200. C. Debit Retained earnings $55,200; credit Dividends $55,200. D. Debit Retained earnings $94,000; credit Income Summary $94,000. E. Debit Income Summary $94,000; credit Dividends $94,000.
The __________ Clause of the U.S. Constitution states that the Constitution, laws, and treaties of the United States take precedence over state laws and that the judges of the state courts must follow federal law
a. Supremacy b. Federalization c. Legalism d. Preemption
Sky Dry Incorporated has over a dozen levels of management, and each manager is responsible for overseeing an average of three subordinates. Mountain Light Corporation has three levels of management, and each manager is responsible for overseeing an average of twenty subordinates. Classify Sky Dry and Mountain Light as having a tall or flat organizational structure, and explain why. State at least two disadvantages of tall organizational structures.
What will be an ideal response?