If Xij = the production of product i in period j, write an expression to indicate that the limit on production of the company's three products in period 2 is 400
What will be an ideal response?
Answer: X12 + X22 + X32 ≤ 400
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Exhibit 7-1 Edwards Co purchased raw materials with a cost of $95,000 on March 2, 2015. Credit terms of 3/20, n/60 applied. Edwards paid for the purchase on March 18, 2015. Calculate the amount at which Edwards would record the inventory on March 2, 2015, the date of purchase, using the method given. Refer to Exhibit 7-1. Edwards uses a perpetual inventory system and the net price method
A) $42,000 B) $76,000 C) $92,150 D) $95,000
Which accounting application is least suited to batch processing?
a. general ledger b. vendor payments c. sales order processing d. payroll
Chancellor Company purchased merchandize worth $900 on credit, terms n/30 . What is the required journal entry to record the transaction under the perpetual inventory system?
a. Accounts Receivable 900 Purchases 900 b. Purchases 900 Merchandize Inventory 900 c. Merchandize Inventory 900 Accounts Payable 900 d. Accounts Payable 900 Merchandize Inventory 900
The return on assets pricing method
A) has very little appeal and support. B) has a primary objective of earning a minimum rate of return on assets. C) is a crude approach to pricing and should be used as a last resort. D) replaces the desired rate of return used in cost-based pricing methods with a desired profit objective.