Which of the following is NOT a role of inventory?
A. Increasing quality of finished goods
B. Balancing supply and demand
C. Buffering uncertainty in supply or demand
D. Enabling geographical specialization
A. Increasing quality of finished goods
Explanation:
Inventory does not have a role in increasing quality. The other alternatives are roles of inventory.
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Stocks that carry certain rights superior to other stock are called
a. common stock; b. treasury stock; c. preferred stock; d. participating stock; e. authorized stock.
The break-even point is the point where
A) total sales are greater than total cost B) total sales equal total cost C) fixed costs equals variable costs D) total sales are less than total cost E) fixed costs are less than variable costs
Warren Company applies overhead based on direct labor cost. Warren Company estimated that it would incur $180,000 in manufacturing overhead costs and $120,000 of direct labor costs during the current year. Actual manufacturing overhead cost totaled $150,000 and actual direct labor costs totaled $110,000 during the current year. If total manufacturing costs were $320,000, what amount of direct materials was used during the year?
A. $45,000 B. $60,000 C. $30,000 D. None of these.
During the production era, managers focused mostly on customer satisfaction and not on production efficiency.
Answer the following statement true (T) or false (F)