Compared to blending and product mix problems, transportation problems are unique because:
A) they maximize profit.
B) the constraints are all equality constraints with no "?" or "?" constraints.
C) they contain fewer variables.
D) the solution values are always integers.
Answer: D
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The acquisition and payment process consists of each of the following phases except which of the following?
a. Receipts of goods and services. b. Approval of items for payment. c. Application of cash receipts. d. Authorized request for goods and services.
When actual capacity exceeds expected capacity, the result is a(n)
a. favorable fixed overhead volume variance. b. favorable materials quantity variance. c. unfavorable overhead variance. d. unfavorable materials quantity variance.
For cost control purposes, fixed costs are classified as
a. product or period costs. b. discretionary or committed. c. direct or common. d. sunk or avoidable.
Which of the following is true of the master budget?
A) Monthly budgets are derived by dividing the master budget by 12 B) Fixed costs cannot change from one month to another C) Variable costs cannot change from one month to another D) The master budget can reflect seasonal effects E) None of these