question 229
Multiple Choice
The following items are taken from the financial statements of the Freight Service for the year ending December 31 2016: Accounts payable Accounts receivable Accumulated depreciation - equipment Advertising expense Cash Owner’s capital (1/1/16) Owner’s drawings Depreciation expense Insurance expense Note payable, due 6/30/17 Prepaid insurance (12-month policy) Rent expense Salaries and wages expense Service revenue Supplies Supplies expense Equipment 19,00013,00026,00021,20015,000104,00011,00012,0003,80072,0007,20016,00032,000135,0005,0006,000210,000 What are total current liabilities at December 31 2016?
Understand the fundamental attribution error and its implications for judging others.
Explore the relationship between actions and attitudes, including how actions can lead to changes in attitudes.
Define and differentiate between various theories related to attitudes and behavior (cognitive dissonance theory, attribution theory).
Understand the concept of role-playing and its effects on attitudes and behavior.
Definitions:
Fixed Manufacturing Overhead
Fixed manufacturing overhead includes regular, consistent costs involved in manufacturing that do not vary with the level of production, such as salaries of managers and factory rent.
Job-Order Costing System
A cost accounting system that assigns manufacturing costs to a specific product or batches of products, often used in customized production environments.
Predetermined Overhead Rate
A rate calculated before a period begins, used to allocate estimated overhead costs to products or job orders based on a selected activity base, such as direct labor hours.
Variable Manufacturing Overhead
Costs in manufacturing that vary with the level of production output, such as utilities for machinery.