External link to Question : 60. Challenger Factory produces two similar products – regular widgets and : 1227096

Question : 60. Challenger Factory produces two similar products – regular widgets and : 1227096

    60. Challenger Factory produces two similar products – regular widgets and deluxe widgets. The total plant overhead budget is $675,000 with 300,000 estimated direct labor hours. It is further estimated that deluxe widget production will need 3 direct labor hours for each unit and regular widget production will require 2 direct labor hours for each unit. Using the single plantwide factory overhead rate with […]

External link to Question : 161. The chart of accounts for the Corning Corporation includes the : 1239511

Question : 161. The chart of accounts for the Corning Corporation includes the : 1239511

    161. The chart of accounts for the Corning Corporation includes the following:  Account Name Account Number Cash 11 Accounts Receivable 13 Prepaid Insurance 15 Accounts Payable 21 Unearned Revenue 24 Capital Stock 31 Retained Earnings 32 Dividends 33 Fees Earned 41 Salaries Expense 54 Insurance Expense 55 Rent Expense 56     On journal page 3, the following transaction was found:  Prepaid Insurance 1,530 […]

External link to Question : Multiple Choice Questions 44.The classification and normal balance of the accounts : 1169313

Question : Multiple Choice Questions 44.The classification and normal balance of the accounts : 1169313

  Multiple Choice Questions  44.The classification and normal balance of the accounts receivable account is:    A. an asset with a credit balance   B. a liability with a debit balance   C. an asset with a debit balance   D. a revenue with a debit balance       45.The classification and normal balance of the salaries expense account is:    A. an expense with a credit balance   B. a liability […]

External link to Question : 71. Beginning inventory, purchases and sales data for tennis rackets as : 1234114

Question : 71. Beginning inventory, purchases and sales data for tennis rackets as : 1234114

  71. Beginning inventory, purchases and sales data for tennis rackets are as follows:    Feb 3 Inventory   12 units @ $15        11 Purchase   13 units @ $17        14 Sale   18 units            21 Purchase   9 units @ $20        25 Sale   10 units                   […]

External link to Question : 13.4   Evaluate strategic success at implementing a cost leadership strategy : 1186024

Question : 13.4   Evaluate strategic success at implementing a cost leadership strategy : 1186024

  13.4   Evaluate strategic success at implementing a cost leadership strategy using balanced scorecard measures.   1) The growth component measures the increase in revenues minus the increase in costs from selling more units of a product.   2) The productivity component measures the reduction in costs attributable to a reduction in the quantity of inputs used in year 2 relative to the quantity of […]

External link to Question : 61) Helton Company has the following information for the current : 1186353

Question : 61) Helton Company has the following information for the current : 1186353

  61) Helton Company has the following information for the current year:   Beginning fixed manufacturing overhead in inventory $95,000 Fixed manufacturing overhead in production 375,000 Ending fixed manufacturing overhead in inventory 25,000     Beginning variable manufacturing overhead in inventory $10,000 Variable manufacturing overhead in production 50,000 Ending variable manufacturing overhead in inventory 15,000   What is the difference between operating incomes under absorption […]

External link to Question : 41. _____ firms acquire inventory items in a physical condition ready : 1230665

Question : 41. _____ firms acquire inventory items in a physical condition ready : 1230665

    41. _____ firms acquire inventory items in a physical condition ready for sale.   A. Merchandising B. Manufacturing C. Technology D. Production E. Health Care   42. _____ firms transform raw materials, purchased parts, and components into finished products in their factories.   A. Merchandising B. Manufacturing C. Consulting D. Staffing E. Health Care   43. The acquisition cost of manufactured inventories do not includes which category of costs:?  A. Administrative B. Manufacturing Overhead C. Raw Materials D. Direct Materials […]

External link to Question : 51. On June 1, $40,000 of treasury bonds were purchased between : 1251452

Question : 51. On June 1, $40,000 of treasury bonds were purchased between : 1251452

  51. On June 1, $40,000 of treasury bonds were purchased between interest dates.  The broker commission was $600.  The bonds pay interest at 12%, which is paid semiannually on January 1 and July 1.  What is the total cost to be debited to the Investment – Treasury Bonds account?  A. $40,000 B. $40,600 C. $42,000 D. $42,600 52. On June 1, $40,000 of treasury bonds were purchased between interest dates.  […]

External link to Question : 85. What would be the impact the accounting equation when : 1255726

Question : 85. What would be the impact the accounting equation when : 1255726

    85. What would be the impact on the accounting equation when a company purchases treasury stock? a. Increase assets and increase stockholders’ equity. b. Decrease assets and increase stockholders’ equity. c. Decrease assets and decrease stockholders’ equity. d. No effect on the accounting equation.     86. The corporation’s own stock that has been issued and then repurchased by the company is referred […]

External link to Question : 31. Other (nonoperating) items follow operating expenses or the subtotal for : 1230555

Question : 31. Other (nonoperating) items follow operating expenses or the subtotal for : 1230555

    31. Other (nonoperating) items follow operating expenses or the subtotal for operating profit. Most firms reporting under U.S. GAAP separately report financing costs, such as   A. principal payments B. interest revenue C. interest expense D. principal receipts E. none of the above   32. A firms decision to sell its headquarters building at a gain  A. would increase income in the year of sale. B. is not part of the core […]

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