61.The _____ consists of individuals who often leverage information technology to efficiently deliver employee services.    A.field generalists’ center   B.functional specialists’ center   C.center for expertise   D.service center   E.labor relations center     62.The generic structure of HRM functions is likely to result in:    A.functional specialists being distracted by transactional activities.   B.generalists focusing more on maintaining functional specializations.   C.service […]

  51) Following a strategy of product differentiation, Sting Corporation makes a high-end computer monitor, CM7. Sting Corporation presents the following data for the years 2012 and 2013:   20122013 Units of CM7 produced and sold5,0005,500 Selling price$400$440 Direct materials (pounds)15,00015,375 Direct materials costs per pound$40$44 Manufacturing capacity for CM7 (units)10,00010,000 Conversion costs$1,000,000$1,100,000 Conversion costs per unit of capacity$100$110 Selling and customer-service capacity (customers)6058 Total […]

    21. When the accountant transfers the balance in each temporary revenue and expense account to the Retained Earnings account, this procedure is known as the closing of accounts.    22. Once revenue and expense accounts serve their purpose of accumulating specific revenue and expense items for an accounting period, they have no further purpose for that period.    23. The income statement links the beginning and […]

    121. Which of the following is/are not true regarding the classification of redeemable preferred shares on the balance sheet? A. The classification of redeemable preferred shares on the balance sheet depends on the conditions for redemption. B. If only the issuing firm has the option to redeem, then the preferred shares are part of its liabilities.C. If the issuing firm must redeem the preferred shares (so-called “mandatory redemption”), […]

  Objective 8.3   1) The variable overhead spending variance measures the difference between ________, multiplied by the actual quantity of variable overhead cost-allocation base used. A) the actual variable overhead cost per unit and the budgeted variable overhead cost per unit B) the standard variable overhead cost rate and the budgeted variable overhead cost rate C) the actual variable overhead cost per unit and […]

  Multiple Choice       47. The Statement of Cash Flows: a. Lists all cash flows over the life of a company. b. Breaks down all cash transactions into investing and financing cash flows. c. Shows that the change in total cash from one year to the next is equal to the net operating, investing, and financing cash flows. d. Has two methods for […]

  120.Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record June production activities for overhead allocation is:  A.Debit Factory Overhead $248,000; credit Cash $248,000. B.Debit Work in Process Inventory $160,000; credit Factory Payroll $160,000. C.Debit Work in Process Inventory $248,000; credit Factory Overhead $248,000. D.Debit Work in Process Inventory $160,000; credit Factory Overhead […]

  81. Which of the following accounts would appear on a budgeted balance sheet?  A. Income tax expense. B. Accounts receivable. C. Sales commissions. D. Depreciation expense. E. All of these. 82. Which of the following budgets must be completed before a cash budget can be prepared?  A. Capital expenditures budget. B. Sales budget. C. Merchandise purchases budget. D. General and administrative expense budget. E. All of these. 83. Which of the following would not be used in […]

      206.A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations:1. The company uses the units-of-production method and the machine produces 70,000 units of product during […]

  130. Below is an Income Statement and a Statement of Cash Flows for Morrissey Corporation for Year 8.  Morrissey CorporationIncome StatementFor the Year Ended December 31, Year 8 Sales Revenue   $11,400 Gain on Sale of Equipment   60 Interest Revenue          16 Total Revenues   $11,476 Cost of Goods Sold   (7,070) Selling and Administrative Expense   (2,240) Interest Expense   (210) Income […]