Process control and acceptance sampling procedures are most closely related to
a. linear regression procedures
b. interval estimation procedures.
c. hypothesis testing procedures.
d. analysis of variance procedures.
c
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If the merchandise received is damaged or unsatisfactory or if the prices charged are not in accordance with an existing agreement, an adjustment may be made that is referred to as a discount
Indicate whether the statement is true or false
Why is every western coast between 20 and 30 degrees north or south of the equator dry?
A. Western coasts are not dry; it is the interior of continents that becomes arid desert. B. This is coincidental. Egypt, which has a source of water, can support a large population. C. The winds blow away from the land, carrying moisture with them. D. The equator is a tropical area, and the heat leads to evaporation.
Middle Co. uses process costing to account for the production of chocolate candy bars. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Cost per equivalent unit has been calculated to be $4.00 for conversion costs and $3.00 for materials. 3,000 units were in beginning inventory (100% complete for materials, 80% for conversion). 12,000 units were started and completed during the period. Ending inventory still in process was 6,000 units (100% complete for materials, 40% for conversion). The value of ending inventory using the FIFO method would be:
A. $97,500.00 B. $27,600.00 C. $34,699.80 D. $47,899.80
________ are people and/or organizations that may be receptive to a sales pitch.
A. Prospects B. Potentials C. Probables D. Possibles