Product costs, such as factory overhead, should be treated as an asset until the product is sold
Indicate whether the statement is true or false
TRUE
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Sales discounts do not affect a company's gross margin percentage.
Answer the following statement true (T) or false (F)
Scientific management was based on which of the following four principles?
A. data gathering; worker selection and development; integration of the science and the trained worker; redivision of the work of the business B. worker selection and development; integration of the science and the trained worker; redivision of the work of the business; succession planning C. data gathering; worker selection and development; integration of the science and the trained worker; succession planning D. data gathering; worker selection and development; implementing policies and procedures; succession planning
When performing a structured walkthrough, the analyst oversees that others adhere to any roles assigned and assures that any activities scheduled are accomplished
Indicate whether the statement is true or false
Details of the manufacturing activity in Amy Corporation's Assembly Department for the month of December is given below: Number of UnitsLabor and Overhead Percent CompleteWork in process inventory, Dec. 110,00070%Started in assembly during the month80,000 Work in process inventory, Dec. 3115,00040%All materials are added at the beginning of processing in the Assembly Department.The equivalent units for labor and overhead for the month, using the weighted-average method, is:
A. 80,000 B. 74,000 C. 162,000 D. 81,000