The adjusting entry to apply factory overhead to the work in process ending inventory includes
a. debiting Finished Goods Inventory and crediting Factory Overhead.
b. debiting Work in Process Inventory and crediting Factory Overhead.
c. debiting Factory Overhead and crediting Work in Process Inventory.
d. debiting Factory Overhead and crediting Finished Goods Inventory.
b
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Which of the following is NOT a part of a corporation's annual report?
A) report of independent registered public accounting firm B) MD&A C) notes to financial statements D) employees' pay rates
A major and ambitious longitudinal study into the life cycle of service, product, technology and program innovation conducted by Andy Van de Ven and his colleagues (1999) was called ___________________.
a. The Minnesota Researchers for Innovation Group b. The Minnesota Team Innovation Study c. The Minnesota Innovation Research Program d. The Minnesota Multiphasic Personality Inventory
Kern Corporation produces a single product. Selected information concerning the operations of the company follow: Units in beginning inventory0Units produced10,000Units sold9,000 Direct materials$40,000Direct labor$20,000Variable manufacturing overhead$12,000Fixed manufacturing overhead$25,000Variable selling and administrative expenses$4,500Fixed selling and administrative expenses$30,000Assume that direct labor is a variable cost.Which costing method, absorption or variable costing, would show a higher operating income for the year and by what amount? (Round your intermediate calculations to 2 decimal places.)
A. Absorption costing net operating income would be higher than variable costing net operating income by $5,500. B. Absorption costing net operating income would be higher than variable costing net operating income by $2,500. C. Variable costing net operating income would be higher than absorption costing net operating income by $2,500. D. Variable costing net operating income would be higher than absorption costing net operating income by $5,500.
Regression analysis assumes there is a straight line relationship between the independent and dependent variables.
Answer the following statement true (T) or false (F)