The work in process inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $6,048 debit balance after all posting is completed. the cost sheet of the one job still in process shows direct material cost of $2,400 and direct labor cost of $1,200. therefore, the company's overhead application rate is:

What does the phrase limited liability mean in a corporate context?

Aggart technologies is considering issuing new common stock and using the proceeds to reduce its outstanding debt. the stock issue would have no effect on total assets, the interest rate taggart pays, ebit, or the tax rate. which of the following is likely to occur if the company goes ahead with the stock issue? a. the roa will decline.b. taxable income will decline.c. the tax bill will increase.d. net income will decrease.e. the times-interest-earned ratio will decrease

Labor unions have used which of the following to win passage of favorable laws such as shorter work weeks and the minimum wage? a. strikes b. collective bargaining c. lobbying d. lockouts