A sampling unit is the basic unit containing the elements of the population to be sampled
Indicate whether the statement is true or false
TRUE
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Chojnowski 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 (Planned) Overhead: Budgeted variable manufacturing overhead$82,450 Budgeted fixed manufacturing overhead 325,975 Total budgeted manufacturing overhead$ 408,425 Budgeted production (a) 25,000unitsStandard hours per unit (b) 1.70labor-hoursBudgeted hours (a) × (b) 42,500labor-hours Applying Overhead: Actual production (a) 20,000unitsStandard hours per unit (b) 1.70labor-hoursStandard hours allowed for the actual production (a) ×
(b) 34,000labor-hours Actual Overhead and Hours: Actual variable manufacturing overhead$74,812 Actual fixed manufacturing overhead 312,975 Total actual manufacturing overhead$ 387,787 Actual hours 31,700labor-hoursThe variable component of the predetermined overhead rate is closest to: A. $2.20 per labor-hour B. $1.76 per labor-hour C. $1.94 per labor-hour D. $2.36 per labor-hour
Which of the following sections of a marketing planning outline addresses strategies to take
advantage of market opportunities after surveying the other players in the industry? A) strategy B) marketing mix C) competitive landscape D) objectives
A company's history indicates that 20% of its sales are for cash and the remaining 80% are on credit. Collections on credit sales are 30% in the month of the sale and 70% the following month. Projected sales for January, February, and March are $75,000, $92,000 and $60,000, respectively. The March expected cash receipts are $80,500.
Answer the following statement true (T) or false (F)
The following information is available for Jack's, Inc. for the current month
Book balance end of month $7,000 Outstanding checks 675 Deposits in transit 4,000 Service charges 80 Interest revenue 40 What is the adjusted book balance on the bank reconciliation? A) $10,205 B) $7,635 C) $6,880 D) $6,960