What costs are treated as product costs under variable (direct) costing?
a. only direct costs
b. only variable production costs
c. all variable costs
d. all variable and fixed manufacturing costs
B
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If a drawer is negligent and contributes to the forgery or alteration of a check, the ________.
A. bank is liable to the drawer for the amount B. check is not payable from the customer's account C. bank must pay the instrument out of its own funds D. bank can charge the drawer for the amount
Daget Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $364,140. At the end of the year, actual direct labor-hours for the year were 24,000 hours, manufacturing overhead for the year was overapplied by $8,060, and the actual manufacturing overhead was $359,140. The predetermined overhead rate for the year must have been closest to:
A. $15.43 per direct labor-hour B. $14.96 per direct labor-hour C. $15.17 per direct labor-hour D. $15.30 per direct labor-hour
A(n) ______ is a payment typically provided to a salesperson for selling an item to a customer and is usually paid as a percentage of the price of the item that is sold.
A. bonus B. merit C. entitlement D. commission
When Shoes International went out of business after some serious and unethical accounting errors, its accounting company also closed its doors. 123Jump, a French company, was concerned that the unethical behaviors that occurred were an American problem, so it cancelled its business with another American accounting company and used a French one instead. Who was harmed by Shoes International's
unethical behavior? a. only Shoes International b. only Shoes International and the accounting firm it used c. Shoes International, the accounting industry and the United States d. only 123Jump