For a certain product, ordering costs are $30 per order, and the holding cost is $15 per case of this product per year. If the projected annual demand is 900 cases, what is the economic order quantity?
a. 40 cases
b. 50 cases
c. 60 cases
d. 70 cases
c. 60 cases
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Failure to record accrued interest expense would result in which of the following?
a. Assets being overstated b. Assets being understated c. Liabilities being overstated d. Liabilities being understated
Creating a computer file that holds the raw data from all the completed surveys is called data entry
Indicate whether the statement is true or false
The bank offered a mortgage at a fixed rate but the buyer may chose other options
What will be an ideal response?
Sivret Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:Total machine-hours80,000Total fixed manufacturing overhead cost$ 624,000Variable manufacturing overhead per machine-hour$ 3.10 Recently, Job M598 was completed with the following characteristics:Number of units in the job60Total machine-hours300Direct materials$ 645Direct labor cost$ 9,000The unit product cost for Job M598 is closest to:
A. $160.75 B. $215.25 C. $65.25 D. $43.05