Which of the following is true about revenue recognition under ASU 2014-09?
A) The realization principle guides the ASU.
B) Construction contracts are typically broken into the various separate goods and services that are included in them for purposes of revenue recognition.
C) The time value of money is considered when estimating all transaction prices.
D) Collectibility of the receivable is considered when determining whether revenue can be recognized.
Answer: D) Collectibility of the receivable is considered when determining whether revenue can be recognized.
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Jezebel, Inc completed Job 12 and several other jobs in the last week
The cost details of Job 12 are shown below. Direct labor cost $820 Direct materials cost $120 Machine hours 6 hours Direct labor hours 17 hours Predetermined overhead allocation rate per machine hour $85 Number of units of finished product 22 units What is the cost per unit of finished product produced under Job 12? (Round your answer to the nearest cent.) A) $42.73 B) $65.91 C) $85.29 D) $108.41
What is the future value of $7,189 invested for 23 years at 9.25 percent compounded annually?
A. $22,483.60 B. $27,890.87 C. $38,991.07 D. $51,009.13 E. $54,999.88