French luxury goods manufacturer and retailer Hermès is known for making expensive leather goods. But paying $300,168 for a handbag at auction, which is over the standard retail price of $280,000, is extraordinary, and not for the casual shopper. The handbag is considered a
A. elastic product.
B. custom product.
C. inelastic product.
D. product in demand.
E. prestige product.
Answer: E
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A large retailer selling food and most routinely purchased consumer products is a
A. hypermarket. B. supermarket. C. discount store. D. warehouse club. E. superstore.
A manager will essentially require ________ skills to test ideas clearly on a small scale, before taking bigger risks or committing significant resources to a larger project.
A. interpersonal B. experimentation C. systems thinking D. collaboration E. social
Oceanside Marine Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor
Oceanside uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: Direct materials: 2 pound per unit; $12 per pound Direct labor: 2 hours per unit; $16 per hour Oceanside produced 3,000 units during the quarter. At the end of the quarter, an examination of the direct materials records showed that the company used 6,500 pounds of direct materials and actual total materials costs were $99,600. What is the direct materials cost variance? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.) A) $9,960 Unfavorable B) $9,960 Favorable C) $21,580 Unfavorable D) $21,580 Favorable
Federal regulation prohibits a credit seller or lender from obtaining a nonpossessory security interest in household goods if the interest is not a purchase money security interest
Indicate whether the statement is true or false