Consideration is what a promisor demands and receives as the price for a promise
Indicate whether the statement is true or false
True
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Atlanta Systems produces two different products, Product A, which sells for $250 per unit, and Product B, which sells for $400 per unit, using three different activities: Design, which uses Engineering Hours as an activity driver; Machining, which uses machine hours as an activity driver; and Inspection, which uses number of batches as an activity driver. The cost of each activity and usage of the activity drivers are as follows: CostUsage by Product AUsage by Product BDesign (Engineering Hours)$150,000 100 150 Machining (Machine Hours)$1,000,000 2,000 3,000 Inspection (Batches)$80,000 50 30 Atlanta manufactures 10,000 units of Product A and 7,500 units of Product B per month. Each unit of Product A uses $100 of direct materials and $45 of direct labor, while each
unit of Product B uses $140 of direct materials and $75 of direct labor. Required: a. Calculate the Design activity proportions for Products A and B. b. Calculate the Machining activity proportions for Products A and B. c. Calculate the Inspection activity proportions for Products A and B. d. Determine the indirect costs assigned to Product A. e. Determine the indirect costs assigned to Product B. f. Determine the manufacturing cost per unit for Product A. g. Determine the manufacturing cost per unit for Product B. h. Determine the gross profit per unit for Product A. i. Determine the gross profit per unit for Product B. What will be an ideal response?
Which of the following is the sharing of knowledge through access and exposure to images, diagrams, or objects, which represent or illustrate a culture value or an idea?
A. creations B. symbols C. rituals D. artifacts
If there is no "a" value in a linear cost equation, this is an indication that the cost is
a. Mixed. b. Fixed c. Variable. d. Either fixed or mixed.
Hadley and Ilene are accountants who work together. Hadley and Ilene can limit their potential liability for each other's misconduct by organizing their business as
A. a limited liability partnership. B. an unincorporated professional association. C. an unofficial co-practice. D. a sole proprietorship.