An agency relationship is best created through:
A. conduct
B. consideration
C. cooperation with other brokers
D. express agreement
Answer: D. express agreement
Explanation: An agency relationship is ordinarily created through express written agreement. An agency created only through conduct or cooperation with other brokers may leave considerable doubt as to whom the agent represents. Consideration is not necessary in the creation of an agency relationship.
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What is the name of the group that should review changes that must be implemented faster than the normal change process?
A. Technical management B. Emergency change advisory board C. Urgent change board D. Urgent change authority
Omega Technology's work in process inventory on June 1 has a balance of $27,200 representing Job No. 36. During June, $68,900 of direct materials were requisitioned for Job No. 36 and $5,500 of direct labor cost was incurred on Job No. 36
Manufacturing overhead is allocated at a rate of $16.00 per direct labor hour. Actual manufacturing overhead costs incurred in June amounted to $15,000. There were 825 actual direct labor hours worked in June. No new jobs were started during June. Job No. 36 is completed on June 28. a. Determine the total cost assigned to Job No. 36. b. Is manufacturing overhead overallocated or underallocated for the month of June? By how much? What will be an ideal response?