Depreciation calculated using the production or units of output method is an example of a fixed cost
Indicate whether the statement is true or false
F
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If the actual amount of direct materials used equals the standard amount of direct materials that should have been used, the difference between the standard cost and actual cost of direct materials is called the
A) price variance. B) rate variance. C) quantity variance. D) efficiency variance.
Regarding the measurement of capacity, when a firm provides a relatively small number of standardized products and services:
A) capacity cannot be determined reliably. B) input measures are typically used. C) output measures are typically used. D) utilization becomes equal to capacity.
The focus of personal selling is shifting from selling a specific product to
A. CRM selling. B. building long-term relationships with customers. C. enhancing the firm's image. D. team selling. E. social media selling.
Which of the following is a reason for a firm for repurchasing its shares?
A) to diminish the shareholder value by increasing the number of shares outstanding and thereby raising earnings per share B) to help encourage a friendly takeover by increasing the number of publicly traded shares C) to make shares available for stock option plans D) to make shares available for cash dividends