Prime costs are a. direct materials and direct labor b. direct labor and factory overhead c. period costs and factory overhead d. direct materials and factory overhead

Rodriguez Corporation issues 19,000 shares of its common stock for $78,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. 1. The stock has a $2 par value. 2.

Peter was hired as an external consultant to review the streamlining of production processes at a company. In his final report, he suggested that the company should use specialization of labor. What would be the benefit of Peter's suggestion? A.

Alex is willing to pay $10, and Bella is willing to pay $8, for 1 pound of ribeye steak. When the price of ribeye steak increases from $9 to $11, a. Alex experiences a decrease in consumer surplus, but Bella does not. b.

Net income was $475,000. Issued common stock for $72,000 cash. Paid cash dividend of $14,000. Paid $105,000 cash to settle a note payable at its $105,000 maturity value. Paid $124,000 cash to acquire its treasury stock.

The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $3,200 debit balance after all posting is completed.

What is the minimum hot-holding temperature requirement for baked potatoes? O a. 135°F (57°C) O b. 145°F (63°C) O c. 155°F (68°C) O d. 165°F (74°C)

A contractor figured a job at $62,577.85. If he has already spent $21,455.19 for materials and $18,913.57 on labor, how much money is left in the budget for this job?

Which of the following statements is true of conversion costs? A. The conversion cost needed for a completed unit and the conversion cost in a partially completed unit can be measured accurately. B.

Assume that Blossom Company received the balance due from Ayayai Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2.

Use the following information to prepare the September cash budget for PTO Co. The following information relates to expected cash receipts and cash payments for the month ended September 30. Beginning cash balance, September 1, $40,000.