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Question
Darrius Travel Services provided the following information:
Cost allocation rate for direct labor: $40 per hour
Cost allocation rate for indirect costs: $22 per hour
If Darrius receives $350 for a job requiring 5 hours of direct labor, they will make a profit of $40.
Answer
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Related questions
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Zygot Biotech Company is budgeting for the 3rd quarter, and provide the following data: Jul
Aug
Sep Cash collections
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$40,000
$48,000 Cash payments: Purchases of inventory
31,000
22,000
18,000 Operating expenses
12,000
9,000
11,600 Capital expenditures
0
19,000
0 The cash balance at June 30 is projected to be $5,600. There are no financing transactions planned in the 3rd quarter. What is the projected cash balance at the end of September?
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C) $18,000
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Berkeley Products has a cash balance of $20,000 at April 1, 2011. They are now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Apr
May
Jun Cash collections
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Bartholomew Manufacturing Company is preparing the operating budget for the first quarter of 2012. They forecast sales of $50,000 in January, $60,000 in February, and $70,000 in March. Cost of goods sold is budgeted at 40% of Sales. Variable and fixed expenses are as follows:
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Q:
Which of the following is TRUE of a completed worksheet?
A) The total debits in the trial balance column equal the total debits in the adjusted trial balance column.
B) The total debits in the income statement column equal the dividends paid.
C) The total debits in the income statement column equal the total debits in the balance sheet column.
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B) long-term assets.
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B) classified form balance sheet.
C) account form balance sheet.
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Q:
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Only permanent accounts appear on the post-closing trial balance.
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A) journalizing.
B) posting.
C) proofing.
D) footing.
Q:
A) chart of accounts.
B) ledger.
C) trial balance.
D) journal.
Answer: B
Q:
Which of the following statements about revenue is CORRECT?
A) Revenues decrease owner's equity, so a revenue account's normal balance is a credit balance.
B) Revenues decrease owner's equity, so a revenue account's normal balance is a debit balance.
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Q:
The balance of an account is the:
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B) account number, as shown in the chart of accounts.
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D) sum of the credits only.
Q:
Journalizing a transaction means:
A) calculating the balance in an account.
B) finding the account number in the chart of accounts.
C) recording the transaction, including a brief explanation.
D) copying the information from the journal to the ledger.
Q:
In the accounting system, the first place that transactions are recorded is the ledger.
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Q:
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Estimated direct labor hours: 3,000 hours
At the end of the year, actual data were as follows:
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Actual variable overhead costs: $174,300
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B) $6,300 Unfavorable
C) $12,000 Favorable
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