A problem area faced by franchisees is the high price of supplies that must be bought from the franchiser.
Answer the following statement true (T) or false (F)
True
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If a contract involves a significant financing component
A) the time value of money is not required to determine transaction price if the payment is more than a year after the transfer occurs. B) the transaction amount should be based on the current sales price of goods or services. C) interest is not accrued as a result of the financing component. D) the time value of money is used to determine the fair value of the transaction.
The write-off of intangible long-term assets is called depreciation
Indicate whether the statement is true or false
Customer cloning is the practice of identifying the key characteristics of a market segment and then identifying multiple geographic areas where the majority of the population possesses those characteristics
Indicate whether the statement is true or false
The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows: Standard: 25,000 hours at $10 $250,000 Actual: Variable factory overhead 202,500 Fixed
factory overhead 60,000 What is the amount of the factory overhead volume variance? A) $12,500 favorable B) $10,000 unfavorable C) $12,500 unfavorable D) $10,000 favorable