During May, Photo Mart sold 150 instant cameras for $100 each. Each camera had cost Photo Mart $69 to purchase and carried a one-year warranty. If 4 percent typically need to be replaced over the warranty period and two actually are replaced during May, the entry to record the Product Warranty Expense for the month is:
a. Product Warranty Expense 138
Estimated Product Warranty Liability 138
b. Product Warranty Expense 276
Cash 276
c. Product Warranty Expense 552
Cash 552
d. Product Warranty Expense 414
Estimated Product Warranty Liability 414
D
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Organizational culture can be thought of as a social ______ system.
a. science b. psychology c. behavioral d. control system
The periodic inventory system requires updating the inventory account only at the end of the period.
Answer the following statement true (T) or false (F)
Interviews and surveys are used to identify:
A) MCE B) quality C) velocity D) value E) activities
A product consists of four parts. The reliability of these parts are 0.98, 0.28, 0.99, 0.99, and 0.99. Calculate and indicate product reliability.
a. 0.27% b. 0.32% c. 0.43% d. 0.21%