The Taylor Company uses a process costing system. Assume that direct materials are added at the beginning of the period and that direct labor and overhead are added continuously throughout the process. The company uses the FIFO costing method. The following data are available for one of its accounting periods Units Beginning work in process 26,000 (70 percent complete for conversion costs) Units
started 180,000 Units transferred out 191,000 Ending work in process 15,000 (60 percent complete for conversion costs) Equivalent units for direct materials of Taylor Company are
A) 180,000.
B) 202,000.
C) 176,000.
D) 191,000.
A
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Which of the following budgets would probably not be prepared using information provided by the production budget?
A) Direct materials budget B) Direct labor budget C) Manufacturing overhead budget D) Sales budget
Companies can assess if they are doing a good job servicing their customers by establishing performance measurements, also known as
A. touch points. B. benchmarks. C. evaluators. D. qualifiers. E. metrics.
Decisions regarding sales promotion do not affect advertising decisions.
Answer the following statement true (T) or false (F)
When using the normal distribution to approximate demand, which of the following is not true?
A) We assume demand is normally distributed. B) We assume demand is a random variable. C) We assume 50 percent of the time demand is less than the mean. D) We assume the fixed cost follows a normal distribution. E) All of the above are true.