What is a drawback of setting pay rates based strictly on a pay policy line?
A. The estimated pay for a job may not reflect conditions in the labor market.
B. It increases the administrative burden of managing the compensation system.
C. Employees have difficulty interpreting regression analysis.
D. It increases the costs of surveying the market.
E. It groups jobs, which will result in rates of pay for individual jobs that precisely match the levels specified by the market.
Answer: A
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A manufacturer, using a standard cost system, purchased 250 units of direct materials at a cost of $2 per unit. The standard cost per unit of direct materials is $1.85.
Prepare the journal entry to record the direct materials cost variance at the time of purchase. Omit explanation.
The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the:
A. Measurement (Cost) Principle. B. Going-concern assumption. C. Business entity assumption. D. Monetary unit assumption. E. Objectivity principle.
Ingalls Mercantile Inc sells bolts of fabric to retailers for $80 per bolt. The company's accountant has prepared the following sales forecast (in bolts) for the first quarter of 2013: January 600 bolts February 1,000 bolts March 700 bolts Historically, the cash collection of sales has been as follows: 60 percent in the month of sale, 30 percent in the month following sale, and 9 percent in the
second month following sale. Cash receipts for March are expected to be: A) $ 61,920 B) $182,160 C) $ 33,600 D) $ 57,840
A “salesperson,” according to Gladwell (2000), is ______.
A. someone who creates the vision and overall direction for change B. someone who is an effective persuader C. both A and B D. neither A nor B