The term ________ means that a currency's value is determined by the forces of supply and demand

Under the perpetual inventory system, two journal entries are used to record the sales of merchandise. One entry records the Sales Revenue and another entry records the Cost of Goods Sold

Indicate whether the statement is true or false

Arabica Manufacturing uses a predetermined overhead allocation rate based on the number of machine hours

At the beginning of the year, it estimated total manufacturing overhead costs to be $1,050,000, total number of direct labor hours to be 4,000, and total number of machine hours to be 20,000 hours. What was the predetermined overhead allocation rate? (Round your answer to the nearest cent.) A) $262.50 per machine hour B) $43.75 per direct labor hour C) $52.50 per machine hour D) $65.63 per direct labor hour