An advantage of FIFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement.
Answer the following statement true (T) or false (F)
False
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Answer the following statements true (T) or false (F)
1. To calculate budgeted direct labor costs, multiply the number of units to be produced by the number of projected direct labor hours. Next, multiply that total by the actual direct labor cost per hour. 2. To calculate budgeted direct labor costs, multiply the number of units to be produced by the number of projected direct labor hours. Next, multiply that total by the average direct cost per hour. 3. The manufacturing overhead budget calculates the budgeted overhead cost for the year and also the predetermined overhead allocation rate for the year. 4. The manufacturing overhead budget calculates the budgeted overhead cost for the year, but not the predetermined overhead allocation rate for the year. 5. In preparing the master budget, the manufacturing overhead is the last period cost to consider.
Today, businesses are under intense pressure to ______.
A. meet the goals of sustainability B. employ as many people as possible to be socially responsible C. make sure business is conducted in as many different countries as possible D. ensure only locally available resources are used
The threat of substitutes can reduce the power of a business
Indicate whether the statement is true or false
Which type of bad leader only cares about her/his immediate followers?
A. callous B. insular C. rigid D. evil