MK
Murali Krishna
Answers (6)
MK
Answered
A specification is a loose description of a requirement that leaves room for supplier enhancements and contributions.
On Jul 25, 2024
False
MK
Answered
In 2016, about ____ percent of U.S. business R&D spending was for basic research.
A) 1
B) 6
C) 15
D) 79
A) 1
B) 6
C) 15
D) 79
On Jul 22, 2024
B
MK
Answered
An English-only policy is the most effective solution to language differences between headquarters and subsidiaries of multinational firms.
On Jun 25, 2024
False
MK
Answered
Accounts Receivable 325
Fees Earned 325
(Customer billed for services performed.)
A)Journal entries
B)Adjusting journal entries
C)Closing journal entries
Fees Earned 325
(Customer billed for services performed.)
A)Journal entries
B)Adjusting journal entries
C)Closing journal entries
On Jun 22, 2024
a
MK
Answered
What three criteria must be met before a governmental unit can elect to not capitalize and therefore not report a work of art or historical treasure as an asset?
On May 25, 2024
Before a governmental unit can elect to not record a work of art or a historical treasure as an asset, three criteria must be met:
(1.) It must be held for public exhibition, education, or research in furtherance of public service, rather than financial gain.
(2.) It must be protected, kept unencumbered, cared for, and preserved.
(3.) It must be subject to an organizational policy that requires the proceeds from sales of collection items to be used to acquire other items for collections.
(1.) It must be held for public exhibition, education, or research in furtherance of public service, rather than financial gain.
(2.) It must be protected, kept unencumbered, cared for, and preserved.
(3.) It must be subject to an organizational policy that requires the proceeds from sales of collection items to be used to acquire other items for collections.
MK
Answered
Lakatos Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials: 
During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year:
Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.
When the purchase of raw materials is recorded in transaction (a) above, which of the following entries will be made?
A) $106,260 in the Materials Quantity Variance column
B) ($106,260) in the Materials Quantity Variance column
C) ($106,260) in the Materials Price Variance column
D) $106,260 in the Materials Price Variance column
During the year, the company completed the following transactions concerning direct materials:a. Purchased 151,800 kilos of raw material at a price of $9.70 per kilo.b. Used 140,870 kilos of the raw material to produce 38,100 units of work in process.The company calculated the following direct materials variances for the year: Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation. When the purchase of raw materials is recorded in transaction (a) above, which of the following entries will be made?A) $106,260 in the Materials Quantity Variance column
B) ($106,260) in the Materials Quantity Variance column
C) ($106,260) in the Materials Price Variance column
D) $106,260 in the Materials Price Variance column
On May 23, 2024
C