The Standards Require That Comprehensive Income Information Related to the Transactions

question 33

Multiple Choice

The standards require that comprehensive income information related to the transactions be disclosed in owner's equity.These items include

• A)net gains recognized as net periodic pension cost for pension liabilities
• B)foreign currency income adjustments
• C)net losses not yet recognized as net periodic pension cost for pension liabilities
• D)unrealized holding gains and losses on available-for-sale securities
• E)unrealized holding gains and losses on trading securities
• F)both A and B
• G)both B and C
• H)Both C and D

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Definitions:

Direct Labor-Hours

The total hours of labor directly involved in manufacturing a product, used in job costing and determining labor costs.

Fixed Manufacturing Overhead

The portion of manufacturing overhead costs that remains constant regardless of the level of production or sales volume.

Manufacturing Overhead Budget

An estimation of all manufacturing costs, excluding direct materials and direct labor, planned for a specific period.

Direct Labor-Hours

The cumulative hours that employees engaged in the manufacturing process have completed.