Costs incurred in storing inventory usually are included in inventory costs
Indicate whether the statement is true or false
F
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The way in which the performance of a cost center is evaluated is similar to
a. job order costing. b. standard costing. c. process costing. d. none of these choices.
On January 1, the Sleepy Monk Coffee Shop paid $24,000 for a full year of rent beginning on January 1. The rent payment was appropriately recorded in the Cash and Prepaid Rent accounts. If financial statements are prepared on January 31, the journal entry to record the adjustment would be:
A. Debit Prepaid Rent and credit Rent Expense for $2,000. B. Debit Rent Expense and credit Prepaid Rent for $24,000. C. Debit Rent Expense and credit Prepaid Rent for $2,000. D. Debit Prepaid Rent and credit Rent Expense for $24,000.
If a savings account offers a 10% annual interest rate compounded monthly, your actual return will be greater than 10%
Indicate whether the statement is true or false.
A manager is comparing the total maintenance (preventive plus breakdown) cost curves for two scenarios. The graphs have maintenance commitment on the x-axis and costs on the y-axis
Scenario A includes the direct breakdown maintenance costs, while Scenario B includes the "full" (direct and indirect) breakdown maintenance costs. Which of the following should the manager notice when going from Scenario A to Scenario B? A) Total cost is decreased. B) Optimal point is moved to the left. C) Optimal point is moved to the right. D) Preventative maintenance cost slope is increased. E) None of the above