Use the Information Below for Focal Point Corp

question 36

Multiple Choice

Use the information below for Focal Point Corp.for 2015 and 2016 to answer the following question. Assume that there were no retained earnings transactions other than those dealing with dividends and net income.How much dividends did Focal Point declare during 2016?

• A)$ 95,000
• B)$105,000
• C)$140,000
• D)$150,000

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Definitions:

Applied Overhead

The allocation of estimated overhead costs to specific products or job orders based on a predetermined rate or formula.

Manufacturing Overhead

Includes all the indirect costs associated with the production process, excluding direct materials and direct labor.

Assembly Division

A department or area within a manufacturing firm that is responsible for assembling the components of a product into a finished good.

Prorated

The allocation or division of amounts or costs proportionally according to a specific rate, size, or timeframe.