Where there is no course of performance, usage of trade, or course of dealing, and where a contract is silent as to the place of delivery, the place for delivery is:
A) the seller's place of business.
B) wherever the goods were manufactured.
C) wherever the goods are located.
D) the buyer's place of business.
A
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______ occurs when individuals reduce their effort on group tasks expecting that other members will do the work for them.
A. Social loafing B. Groupthink C. Process gain D. Process loss
Which of the following is a synonym for "bailment"?
A) release B) guarantee C) ownership D) custody E) liability
Does an issuer-capped bond index overcome the duration problem associated with a market-cap-weighted bond index?
What will be an ideal response?
Herriot Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:?InputsStandard Quantity or HoursStandard Price or RateStandard Cost?Direct materials3.7pounds$7.50per pound$27.75?Direct labor0.90hours$18.50per hour16.65?Fixed manufacturing overhead0.90hours$19.00per hour17.10?Total standard cost per unit????$61.50The standard fixed manufacturing overhead rate was based on budgeted fixed manufacturing overhead of $598,500 and budgeted activity of
31,500 hours.During the year, the company applied fixed overhead to the 37,500 units in work in process inventory using the predetermined overhead rate multiplied by the number of direct labor-hours allowed. Actual fixed overhead costs for the year were $609,000. Of this total, $549,000 related to items such as insurance, utilities, and indirect labor salaries that were all paid in cash and $60,000 related to depreciation of manufacturing equipment.Required:Completely record the transactions involving fixed overhead, including any variances, in the worksheet that appears below. Because of the width of the worksheet, it is in two parts. In your text, these two parts would be joined side-by-side to make one very wide worksheet. The beginning balances have been provided for each of the accounts, including the Property, Plant, and Equipment (net) account which is abbreviated as PP&E (net).??CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)=?1/1$1,030,000 $58,275 $0 $86,100 $475,300 =???????=???????=??Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings?1/1$0$0$0$0$0$0$1,649,675 ?????????????????? What will be an ideal response?