A car rental company at a major airport has 80% of its fleet of 200 cars rented each day on average. Cars are rented for an average of 5 days. How many rentals are processed each day on average?
WIP = R × T
0.8(200) = R(5)
R = 32 cars/day.
32 cars/day are processed each day on an average.
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"Goods completed and on hand" refers to:
a. goods in the finished goods warehouse. b. goods awaiting sale. c. finished goods purchased directly from suppliers. d. finished goods in a department that have not yet been transferred to the next department.
Why does the text describe prospecting as the "lifeblood of sales"?
What will be an ideal response?
The forecasted retained earnings balance is equal to (current retained earnings/current sales) times
projected sales for next year. Indicate whether the statement is true or false
Tat Corporation produces a single product and has the following cost structure: Number of units produced each year 7,000Variable costs per unit: Direct materials$77Direct labor$89Variable manufacturing overhead$5Variable selling and administrative expense$3Fixed costs: Fixed manufacturing overhead$532,000Fixed selling and administrative expense$574,000 The unit product cost under absorption costing is:
A. $166 per unit B. $332 per unit C. $171 per unit D. $247 per unit