Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: Accepted $17,300 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. Performed legal services for cash of $69,000. Purchased $1,050 of office supplies on account. Paid $945 of the amount due on accounts payable. Paid a cash dividend to the stockholders of $4,900. Paid cash for operating expenses of $19,400. Determined that at the end of the accounting period, $110 of office supplies remained on hand. On December 31, Year 1, recognized the revenue that had been earned for services performed in accordance with Transaction 1.

Aquatic marine stores company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. aquatic uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 3 pounds per unit; $ 6 per pound direct labor: 4 hours per unit; $ 19 per hour during the first quarter, aquatic produced 5 comma 000 units of this product. actual direct materials and direct labor costs were $ 65 comma 000 and $ 330 comma 000, respectively. for the purpose of preparing the flexible budget, calculate the total standard direct materials cost at a production volume of 5 comma 000 units.

Fly-by products, inc. operates primarily in the united states and has several segments. for the following segment, determine whether it is a cost center, profit center, or investment center: international operations- acts as an independent segment responsible for all facets of the business outside of the united states. select one: a. cost center b. profit center c. investment center

Which one of the following statements is correct? process costing systems use periodic inventory systems. process costing systems assign costs to departments or processes for a time period. companies that produce many different products or services are more likely to use process costing systems. production is continuous when a job-order costing is used to ensure that adequate quantities are on hand.