For each of the following variances, state which manager is most likely to be responsible for the variance
Variance Responsible Manager
Direct Materials Cost
Direct Labor Efficiency
Variable Overhead Efficiency
What will be an ideal response
Variance Responsible Manager
Direct Materials Cost Purchasing
Direct Labor Efficiency Production
Variable Overhead Efficiency Production
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A purchasing system that employs electronic data interchange does not use a purchase order
Indicate whether the statement is true or false
Which of the following is a provision made under the Berne Convention?
A) The treaty makes it mandatory to place the copyright symbol on all copyrighted works. B) The treaty sets the rules for how copyright can be dealt with when sharing copyrighted work between governments. C) The treaty eliminates the need to place the copyright symbol or the word "copyright" on a copyrighted work. D) The treaty stipulates the time period a copyright can be retained by the copyright holder before it enters the public domain.
Describe the training paradox.
What will be an ideal response?
The audit of year-end physical inventories should include steps to verify that the entity's purchases and sales cutoffs were adequate. The audit steps should be designed to detect whether merchandise included in the physical count at year-end was not recorded as a
A. Sale in the subsequent period. B. Purchase in the current period. C. Sale in the current period. D. Purchase return in the subsequent period.