If a buyer accepts a shipment of goods and later discovers a defect, acceptance cannot be revoked.?
Indicate whether the statement is true or false
False
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Muscato Corporation estimates that its variable manufacturing overhead is $18.50 per machine-hour and its fixed manufacturing overhead is $1,443,750 per period.If the denominator level of activity is 7500 machine-hours, the fixed component in the predetermined overhead rate would be:
A. $1850.00 per machine-hour B. $18.50 per machine-hour C. $192.50 per machine-hour D. $211.00 per machine-hour
Which of the following statements about misrepresentation is false?
A. To "stay legal" a salesperson needs to understand the difference between general statements of praise and statements of fact. B. When salespeople loosely describe their goods or services in glowing terms, those statements cannot be relied upon by the potential buyer. C. Courts tend to favor salespersons in misrepresentation cases when the customer lacks product knowledge. D. A salesperson's opinion of the quality of the product being sold is known as sales puffery and is not legally actionable. E. When a salesperson makes claims of a "factual nature" regarding a service's inherent capabilities, the law treats these comments as statements of fact and warranties.
The operating cycle
a. measures the time elapsed between cash disbursement for inventory and cash collection of the sales price. b. refers to the seasonal variations experienced by business enterprises. c. should be used to classify assets and liabilities as current if it is less than one year. d. cannot exceed one year.
____ costs typically represent a much higher percentage of product costs than direct labor
A) Value-added B) Activity C) Overhead D) Consumption E) Assembly