Armstrong Products Armstrong Products applies fixed overhead at a rate of $3 per direct labor hour. Each unit produced is expected to take 2 direct labor hours. Armstrong expected production in the current year to be 10,000 units but 9,000 units were actually produced. Actual direct labor hours were 19,000 and actual fixed overhead costs were $62,000. Refer to the Armstrong Products information
above. Armstrong's fixed overhead spending variance is:
A) $8,000 F.
B) $8,000 U.
C) $2,000 F.
D) $2,000 U.
D
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Alan Curtis, a U.S. citizen, died on March 1, 2016, leaving an adjusted gross estate with a fair market value of $3.4 million at the date of death. Under the terms of Alan's will, $2,375,000 was bequeathed outright to his widow, free of all estate and inheritance taxes. The remainder of Alan's estate was left to his mother. Alan made no taxable gifts during his lifetime. In computing the taxable estate, the executor of Alan's estate should claim a marital deduction of
A. $2,250,000 B. $2,375,000 C. $1,700,000 D. $1,025,000
Creativity is:
A) The same as innovation B) The ability to produce something new and unique C) Achieved when an individual calculates something differently D) All of the above