The term BRICs refers to Bangladesh, Romania, Ireland, and Czechoslovakia, all emerging markets.
Answer the following statement true (T) or false (F)
False
Rationale: The term refers to Brazil, Russia, India, and China.
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A quality-inspection cost is an example of unit-level costs.
Answer the following statement true (T) or false (F)
The 80/20 principle implies that the majority of all demand is due to a minority of the customers.
Answer the following statement true (T) or false (F)
Which of the following Terms of Payment has the least risk to the seller?
a. Letter of Credit b. Cash in Advance c. Letter of Credit d. Open Account
The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 1,600 direct labor-hours will be required in February. The variable overhead rate is $3.40 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $28,320 per month, which includes depreciation of $3,680. All other fixed manufacturing overhead costs represent current cash flows.The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for February should be:
A. $18.80 per direct labor-hour B. $17.70 per direct labor-hour C. $3.40 per direct labor-hour D. $21.10 per direct labor-hour