The ________ is an extreme change in the supply position upstream generated by a small change in demand downstream
Fill in the blank(s) with the appropriate word(s).
Answer: bullwhip effect
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Bar, pie, line, and columns are examples of this type of visual support
A) lists or tables B) photographs or diagrams C) objects or models D) charts or graphs
In a partnership, mutual agency means that ________.
A) the addition of a new partner does not dissolve the old partnership; there is a mutual exchange of ownership with the existing partners B) every partner must contribute the same amount of capital C) the agency problem between the principal and agents are mutual and are neutralized D) any partner can bind the business to a contract within the scope of its regular business operations
The static budget, at the beginning of the month, for La Verne Company follows:
Static budget: Sales volume: 2100 units: Sales price: $56.00 per unit Variable cost: $14.00 per unit: Fixed costs: $26,000 per month Operating income: $62,200 Actual results, at the end of the month, follows: Actual results: Sales volume: 1800 units: Sales price: $59.00 per unit Variable cost: $16.00 per unit: Fixed costs $35,000 per month Operating income: $42,400 Calculate the sales volume variance for variable costs. A) $12,600 U B) $4200 F C) $300 U D) $12,600 F
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