Cost of salaries for workers who actually manufacture the product.
What is DIRECT LABOR?
100
Inventory
What is CURRENT ASSET?
100
A cost that does not change in total as the amount of activity changes.
What is FIXED COST?
100
The Capital Resources Process includes these two activities.
What is Financing and Investing activities?
100
The accounting concept requiring that the reporting of profits of a business be done at regular intervals throughout the life of the business.
What is GOING CONCERN?
200
Legal title transfers when goods leave the seller's place of business.
What is FOB SHIPPING POINT?
200
Bond Payable
What is Long-term liability?
200
A revenue that changes, but not proportionately, to a change in activity.
What is MIXED REVENUE?
200
The bookkeeper who records cash receipts also deposits daily cash receipts at the bank on his way home from work. This is a violation of which good internal control.
What is SEPARATING INCOMPATIBLE DUTIES?
200
A document sent by the purchasing department to order a specific quantity of goods or services.
What is PURCHASE ORDER?
300
Manufacturing costs not directly associated with the production of a product.
What is MANUFACTURING OVERHEAD?
300
Raw Materials
What is CURRENT ASSET?
300
The span of operating activity that is considered normal for a company.
What is RELEVANT RANGE?
300
All the checks used by Graphics, Inc. to pay its bills are prenumbered. (internal control)
What is MAINTAINING ADEQUATE DOCUMENTS AND RECORDS?
300
Determining the company's needs for goods and services is associated with which process.
What is REVENUE PROCESS?
400
Shipping document that describes agreement between business and common carrier.
What is BILL OF LADING?
400
Cost of Goods Sold
What is EXPENSE?
400
How cost reacts to change in the level of operating activity.
What is COST BEHAVIOR?
400
The three phases of the management cycle.
What is PLANNING, PERFORMING, AND EVALUATING?
400
A Business entity which is legally separate and distinct from its owners.
What is CORPORATION?
500
Discount given buyer for paying amount due earlier to the vendor.
What is PURCHASE DISCOUNT?
500
Common Stock of the Company
What is STOCKHOLDERS' EQUITY?
500
Sales commission paid by the company.
What is VARIABLE COST?
500
On May 31, Allegro Co. had a GL cash balance of $7,400. The bank statement balance is $7,500. The deposits in transit were $1,000 and outstanding checks were $1110. The service charge was $10. Determine the adjusted balance.