Full capacity is used in time-driven ABC systems
Indicate whether the statement is true or false
false
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The costs incurred to manufacture a product can be classified into two primary elements of manufacturing cost: materials and factory overhead
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Using the following year-end information for Calvin's Clothing, calculate the current ratio and acid-test ratio for the business: Cash$53,150?Short-term investments 10,000?Accounts receivable 50,000?Inventory 190,000?Prepaid expenses 6660?Accounts payable 104,000?Other current payables 30,700?
A. 0.43 and 1.19 B. 2.30 and 0.84 C. 2.74 and 1.19 D. 1.30 and 0.84 E. 1.30 and 1.00
Fast Food, Inc. views marketing as the process of finding and retaining profitable customers by providing them with the food they want. Fast Food, Inc. practices societal marketing
Indicate whether the statement is true or false
Tanya Inc's static budget for 10,000 units of production includes $60,000 for direct materials, $44,000 for direct labor, fixed utilities costs of $5,000, and supervisor salaries of $15,000. A flexible budget for 12,000 units of production would show:
A) the same cost structure in total B) direct materials of $72,000, direct labor of $52,800, utilities of $5,000, and supervisor salaries of $15,000 C) total variable costs of $148,800 D) direct materials of $60,000, direct labor of $52,800, utilities of $6,000, and supervisor salaries of $15,000