15% of the 980 Students Attending a Small College Were

question 59

Multiple Choice

15% of the 980 students attending a small college were enrolled in a science course. How many students is this?

• A) 65
• B) 490
• C) 147
• D) 294

Understand the process and purpose of journalizing transactions in a job order cost accounting system.

Define and identify different documents used in job order costing, including time tickets, materials requisitions, and receiving reports.

Calculate direct materials, direct labor, and factory overhead costs applied to jobs.

Understand the flow of costs in a job order cost accounting system from direct materials, direct labor, and factory overhead to Work in Process, Finished Goods, and Cost of Goods Sold.

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Definitions:

Revenues

The cumulative revenue produced from selling goods or services that are fundamental to a company's main activities.

Cash Dividend

Profits distributed by a company to its shareholders, usually as a form of payment.

Income Statement

A financial statement that shows a company's revenues, expenses, and profit over a specific period.

Dividends Paid

The total amount of dividend payments made to shareholders during a specific period, often reported quarterly or annually.