________ refers to how standardized an organization's jobs are and the extent to which employee behavior is guided by rules and procedures.
A. Specialization
B. Centralization
C. Decentralization
D. Formalization
Answer: D
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Accounting ratios are useful as management performance measures
Indicate whether the statement is true or false
Kray Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 6,000Variable costs per unit: Direct materials$40Direct labor$19Variable manufacturing overhead$8Variable selling and administrative expense$2Fixed costs: Fixed manufacturing overhead$144,000Fixed selling and administrative expense$198,000There were no beginning or ending inventories. The variable costing unit product cost was:
A. $67 per unit B. $61 per unit C. $91 per unit D. $69 per unit
Gala Enterprises collected the following data regarding production of one of its products. Compute the variable overhead cost variance, the variable overhead spending variance, the variable overhead efficiency variance, the fixed overhead cost variance, the fixed overhead spending variance, and the fixed overhead volume variance. Direct labor standard (2 hrs. @ $15/hr.)$30.00 per finished unitActual direct labor hours60,800 hrs.Budgeted units31,000 unitsActual finished units produced30,000 unitsStandard variable OH rate (2 hrs. @ $14.00/hr.)$28.00 per finished unitStandard fixed OH rate ($310,000/31,000 units)$10.00 per unitActual variable overhead costs incurred$857,600Actual fixed overhead costs incurred$312,000
What will be an ideal response?
A high rate of inventory turnover indicates difficulty in selling inventory
Indicate whether the statement is true or false