Which of the following is the best example of an equipment-based service?
A. lawyers
B. taxis
C. janitorial services
D. doctors
E. lawn care
Answer: B
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The Cosmo Corporation manufactures and assembles office chairs. Cosmo uses an activity-based costing system to allocate all manufacturing conversion costs. Each chair consists of 15 separate parts totaling $125 in direct materials, and requires 2.0 hours of machine time to produce. Additional information follows:
Materials handling / # of parts / $1.75 per part Machining / Machine hours / $2.00 per MH Assembling / # of parts / $0.50 per part Packaging / # of finished units / $2.75 per finished unit What is the cost of machining per chair? A) $26.25 B) $7.50 C) $5.50 D) $4.00
When Jerry encounters a tough problem at work, he tends to just give up. Jerry ______.
a. has a fixed mindset b. has a growth mindset c. enjoys tackling new challenges d. embraces failure
Flavorful Manufacturing sells a number of goods whose selling price is heavily influenced by cost. A recent study of product no. 519 revealed a traditionally-derived total cost of $1,019, a selling price of $1,850 based on that figure, and a newly computed activity-based total cost of $1,215. Which of the following statements is true?
A. The company may have been extremely competitive in the marketplace from a price perspective. B. Product no. 519 could be labeled as being overcosted by the firm's traditional costing procedures. C. If product no. 519 is undercosted by traditional accounting procedures, then all of the company's other products must be undercosted as well. D. All other things being equal, the company should consider a drop in its sales price. E. Generally speaking, the activity-based cost figure is "less accurate" than the traditionally-derived cost figure.
The percentage of data values that must be within one, two, and three standard deviations of the mean for data having a bell-shaped distribution can be determined using a. Chebyshev's theorem
b. The empirical rule. c. A five-number summary. d. Percentiles.