In most instances, the mere fact that a sale was made gives rise to a(n):
A) express warranty
B) limited warranty.
C) implied warranty.
D) full warranty.
C
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Answer the following statements true (T) or false (F)
1.The trade theories of Adam Smith and David Ricardo viewed the determination of competitiveness from the demand side of the market. 2.According to the principle of absolute advantage, international trade is beneficial to the world if one nation has an absolute cost advantage in the production of one good while the other nation has an absolute cost advantage in the other good. 3.The principle of absolute advantage asserts that mutually beneficial trade can occur even if one nation is absolutely more efficient in the production of all goods. 4.The basis for trade is explained by the principle of absolute advantage according to David Ricardo and the principle of comparative advantage according to Adam Smith. 5.The principle of comparative advantage contends that a nation should specialize in and export the good in which its absolute advantage is smallest or its absolute disadvantage is greatest.
Transforming into a true market-driven company involves organizing around products
Indicate whether the statement is true or false
A company produces heating elements that go through two operations, casting and assembling, before they are complete. Expected costs and activities for the two departments are shown below. Given this information, the departmental overhead rate for the assembling department based on direct labor hours is $5 per direct labor hour. CastingAssemblingDirect labor hours 1,875DLH 7,500DLHMachine hours 12,500MH 3,750MHOverhead costs$75,000 $37,500
Answer the following statement true (T) or false (F)
Division A of Tripper Company produces a part that it sells to other companies. Sales and cost data for the part follow: Capacity in units 60,000unitsSelling price per unit$40per unitVariable costs per unit$28per unitFixed costs per unit at capacity$9per unit?Division B, another division of Tripper Company, would like to buy this part from Division A. Division B is presently purchasing the part from an outside source at $38 per unit. If Division A sells to Division B, $1 in variable costs can be avoided.?Assume that Division A is presently operating at capacity. According to the formula in the text, what is the lowest acceptable transfer price from the viewpoint of the selling division?
A. $38 per unit B. $39 per unit C. $37 per unit D. $36 per unit