_____ is a process where a group thinks of as many ways to vary a product or solve a problem as possible without considering the practicality of the ideas.
A. New-product brain dumping
B. Screening
C. A focus-group interview
D. Brainstorming
E. Diffusion
Answer: D
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Toyota, Sony, Olympus, and Komatsu are some of the well-known Japanese companies that use target costing, a process which is also known as "design to cost."
Indicate whether the statement is true or false
Name three of the problem-solving skills leaders employ to address problems.
What will be an ideal response?
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The journal entry to record the issuance of materials to production is:
A. Debit Raw Materials Inventory $195,000; credit Accounts Payable $195,000. B. Debit Work in Process Inventory $195,000; credit Raw Materials Inventory $195,000. C. Debit Raw Materials Inventory $195,000; credit Work in Process Inventory $195,000. D. Debit Finished Goods Inventory $195,000; credit Raw Materials Inventory $195,000. E. Debit Work in Process Inventory $165,000; debit Factory Overhead $30,000; credit Raw Materials Inventory $195,000.
A firm has total assets of $500 million, including its accounts receivable, which is worth $120 million. The annual sales of the firm is $650 million. The days sales outstanding (DSO) ratio of the firm is:
A. 48 days. B. 52 days. C. 39 days. D. 82 days. E. 66 days.