Alfrieda purchased an ownership interest in a corporation. This gives her the right to use the equipment owned by the corporation, as long as her usage does not interfere with the normal operation of the business.
Answer the following statement true (T) or false (F)
False
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One disadvantage of telephone communication is the lack of face-to-face contact with the customer.
Answer the following statement true (T) or false (F)
The auditor traces recorded sales to invoices, sales orders and shipping documents in order to substantiate which assertion?
a. Cutoff. b. Completeness. c. Legality. d. Occurrence.
The first step in planning how to price a product is to develop pricing objectives
Indicate whether the statement is true or false
[The following information applies to the questions displayed below.]Assume that a pet food manufacturer is considering adding two types of pet food to its existing product line. Research had determined that good demand exists for dog food in 40-pound bags and cat food in 0.5 pound cans.The company identified the following partial list of activities, costs, and activity drivers expected for the next year: ActivityExpected CostsCost DriverMaterial handling$105,000 Number of batches madeStorage costs$820,000 Weight of finished product Dog FoodCat FoodProduction volume 100,000units 200,000unitsBatches made 200batches 150batchesWhat are the overhead rates used to apply material handling (MH) and storage costs (SC) using activity-based costing?
A. MH $525/batch; SC $.205/unit. B. MH $700/batch; SC $8.20/lb. C. MH $700/batch; SC $.205/lb. D. MH $300/batch; SC $2.73/unit. E. MH $300/batch; SC $.20/lb.