Higado Confectionery Corporation has a number of store locations throughout North America. In income statements segmented by store, which of the following would be considered a common fixed cost with respect to the stores?
A. store building depreciation expense
B. store manager salaries
C. cost of goods sold at each store
D. the cost of corporate advertising aired during the Super Bowl
Answer: D
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Thomas Martin receives an hourly wage rate of $40, with time and a half for all hours worked in excess of 40hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income taxwithheld, $350; social security tax rate, 6.0%; and Medicare tax rate, 1.5%. What is the gross pay for Martin?
a. $449 b. $1,730 c. $2,080 d. $1,581
A drawback of Six Sigma quality is diminishing worker moral
Indicate whether the statement is true or false
FASB ASC Topic 715 states that prior service cost should be
a. offset against current service cost. b. recognized in the period of plan adoption or amendment. c. amortized over the expected service period. d. recorded as a prior period adjustment.
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct labor requirement per unit is 0.50 hours. Labor is paid at the rate of $21 per hour. The total cost of direct labor budgeted for the month of August is:
A. $4,050. B. $85,050. C. $3,950. D. $168,000. E. $82,950.