Everyone but the vice president and marketing manager ____ the new team structure is promising
A) think
B) thinks
B
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Beacon Novelties manufactures frisbees that it sells to other companies for customizing with their own logos. Beacon prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a frisbee is based on static budget volume of 60,000 frisbees per month:
Actual cost and production information for June 2019 follows:
a. There were no beginning or ending inventory balances. All expenditures were on account.
b. Actual production and sales were 62,000 frisbees.
c. Actual direct materials usage was 10,000 lbs. at an actual cost of $0.24 per lb.
d. Actual direct labor usage was 208,000 minutes at a total cost of $37,440.
e. Actual overhead cost was $8,000 variable and $30,000 fixed.
f. Selling and administrative costs were $130,000
Requirements
1. Compute the cost and efficiency variances for direct materials and direct labor.
2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances.
Which of the following is not a valid method for determining product cost?
a. arbitrary assignment b. direct measurement c. systematic allocation d. cost-benefit measurement
Amethyst Company paid off a $100,000 two-year note payable. The effect of this transaction is that the:
A) current ratio decreased. B) earnings per share increased. C) working capital increased. D) debt to equity ratio increased.
Whereas ________ are often associated with a low-cost leader strategy, ________ are frequently an important aspect of a differentiation strategy.
A. marketing innovations; management innovations B. product innovations; service innovations C. process innovations; product innovations D. radical innovations; instrumental innovations