________ is defined by the Department of Labor as experience, training, education, and ability as measured by the performance requirements of a particular job.
A. Working condition
B. Skill
C. Effort
D. Responsibility
Answer: B
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Which of the following are "matched" under the matching concept?
A. Assets and liabilities B. Assets and equity C. Expenses and revenues D. Expenses and liabilities
The number of equivalent units of production will always be lesser than the number of completed units during the period
Indicate whether the statement is true or false
External audits are useful for preliminary control because they
A. are more satisfying as operators benefit by having a more enriched job. B. can assess what a company has done for itself. C. review a company's past, present, and future. D. can evaluate how a company has served its customers of its goods or services. E. can prevent problems from occurring.
Stopyra Incorporated makes a single product-a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Budgeted variable manufacturing overhead$28,200 Budgeted fixed manufacturing overhead$89,280 Budgeted hours 12,000labor-hours Actual production (a) 16,000units Standard hours per unit (b) 0.60labor-hours Standard hours allowed for the actual production (a) × (b) 9,600labor-hours Actual variable manufacturing overhead$26,967 Actual fixed manufacturing overhead$74,280 Actual hours 8,900labor-hours ?The variable overhead efficiency
variance is: A. $2,121 U B. $1,645 F C. $2,121 F D. $1,645 U