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Question
How would the accounting equation of Boston Company be affected by the billing of a client for $10,000 of consulting work completed?A.+$10,000 accounts receivable, -$10,000 accounts payable.
B.+$10,000 accounts receivable, +$10,000 accounts payable.
C.+$10,000 accounts receivable, +$10,000 cash.
D.+$10,000 accounts receivable, +$10,000 revenue.
E.+$10,000 accounts receivable, -$10,000 revenue.
Answer
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Related questions
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The predetermined overhead allocation rate is used to apply overhead cost to products.
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A.Payments to purchase property, plant and equipment or other productive assets (excluding inventory).
B.Proceeds from the sale (discounting) of notes receivable made by the company.
C.Proceeds from collecting the principal amount of notes receivable.
D.Payments to acquire held-to maturity securities of other entities, except cash equivalents.
E.All of these.
Q:
A cash equivalent is an investment that:
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B.Is sufficiently close to its maturity date so its market value is unaffected by interest rate changes.
C.Generally is within 3 months of its maturity date.
D.Is highly liquid.
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What was the materials cost per equivalent unit produced during June? What was the labor and overhead cost per equivalent unit produced during June?
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B.Slacks for casual wear.
C.Baseball hats.
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E.Oil paintings.
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A production department is an organizational unit of a factory that has the responsibility for at least partially manufacturing or producing a product or service.
Q:
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Q:
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B.Overhead variance rate.
C.Estimated labor cost rate.
D.Chargeable overhead rate.
E.Miscellaneous overhead rate.
Q:
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B.direct costs - desired profit
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Q:
There are at least three different methods to estimate costs. These methods are the _______________, _______________, and _______________ methods.
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A profit center:
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B.Incurs costs and directly generates revenues.
C.Has a manager who is evaluated solely on efficiency in controlling costs.
D.Incurs only indirect costs and directly generates revenues.
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Q:
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Q:
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A.Is one form of a direct or variable costing system.
B.Does not provide total unit cost data.
C.Traces costs to products on the basis of activities performed on them.
D.Does not provide for the allocation of any cost to products that cannot be directly attributable to those products.
E.Does not involve the level of detail and the number of allocations that companies make with traditional allocation methods.
Q:
The master budget includes:
A.Operating budgets.
B.A capital expenditures budget.
C.A budgeted income statement.
D.A cash budget.
E.All of these.
Q:
The budgeted balance sheet is prepared with data contained in the previously prepared components of the master budget.
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Q:
A CVP graph presents data on:
A.Profit and loss on a unit basis.
B.Profit, loss, and break-even on a total basis.
C.Profit, loss, and break-even on a unit basis.
D.Only profit and loss on a total basis.
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B.$150,000.
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D.$275,862.
E.$310,115.
Q:
Which of the following accounts would all appear on a manufacturing statement?
A.Raw materials, factory insurance expired, indirect labor.
B.Raw materials, goods in process, finished goods.
C.Factory buildings, delivery equipment, and depreciation on factory equipment.
D.Direct labor, indirect labor, sales salaries.
E.Direct labor, factory repairs and maintenance, wages payable.
Q:
The following information is available for Hardy Co. for the current year: The total of Hardy Co.'s manufacturing costs added during the current year is:
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B.$16,100.
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The following information is available for Talking Toys, Inc., for the current year: The total cost of goods manufactured for the year was:
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B.$44,500.
C.$57,500.
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B.$16,800.
C.$15,800.
D.$13,000.
E.$ 7,800.