Which of the following is exclusive to a production-oriented company?
A) Balance sheet
B) Statement of cash flows
C) Income statement
D) Statement of cost of goods manufactured
D
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Identify the correct statement about the importance of salespeople and selling.
A. Salespeople are responsible for keeping existing products in the marketplace, but have little to do with the success of new products. B. Salespeople have a direct impact on the opening of new businesses and whether that business is successful. C. Only the legal profession generates more revenue in our economy than the selling profession. D. Salespeople are responsible for the success of new products, but have little to do with keeping existing products in the marketplace. E. Only the medical profession generates more revenue in our economy than the selling profession.
Lewis Manufacturing uses a standard cost system. The direct labor cost standard is $18.00 per direct labor hour. The direct labor efficiency standard is 0.5 direct labor hour per unit. Actual direct labor for the month is 1,200 hours for a total cost of $24,000. Production for the month is 3,000 units.
Give the journal entry to record direct labor (not paid). Omit explanation.
_______________ is the exchange of information, ideas, and processes verbally, either one-on-one or as a group, while _______________ is also an important way of interacting because it allows for transmission of subtle messages through eye contact, vocal tone, and posture.
What will be an ideal response?
In a franchise operation, the franchisor develops a good marketing strategy, and the retail franchise holders carry out the strategy in their own units.
Answer the following statement true (T) or false (F)