What is the difference between a budget and a financial record

Morrish Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 7,100 direct labor-hours will be required in January. The variable overhead rate is $1.80 per direct labor-hour.

A trial balance prepared after adjustments have been recorded is called a (n) : a. Unclassified balance sheet. b. Classified balance sheet. c. Unadjusted trial balance. d. Balance sheet. e. Adjusted trial balance.

The Capital Purchase Program carried out under TARP represented an attempt by the federal government to increase the capital of banks. Why would the federal government consider it important to increase bank capital? A.

The listing and selling brokers agree to split a 7% commission fifty-fifty on a $387,600 sale. The listing broker gives the listing licensee 30% of his commission and the selling broker gives the selling licensee 35% of his commission.

The U. S. government wants to restrict Nation A's access to weapons-making materials. Which of the following actions will it most likely take?

Lesa drives her car approximately 18,000 miles per year. During the most recent year, she drove 7,000 miles commuting to and from work, 4,500 miles for business-related conferences and client visits, and 6,500 miles for personal trips.

Assume that you manage a risky portfolio with an expected rate of return of 18% and a standard deviation of 42%. The T-bill rate is 6%. Your client chooses to invest 85% of a portfolio in your fund and 15% in a T-bill money market fund. a.

A firm has zero debt in its capital structure and has an overall cost of capital of 10 percent. The firm is considering a new capital structure with 60 percent debt at an interest rate of 8 percent.

Thomsen Computer Company produces three products: Earth, Wind, and Fire. Earth requires 80 machine setups, Wind requires 60 setups, and Fire requires 180 setups.

On August 8, 2013, Holly purchased a residential apartment building. The cost basis assigned to the building is $800,000. Holly also owns another residential apartment building that she purchased on June 15, 2013, with a cost basis of $500,000. a.