A. Purchase price B. Insurance in transit FOB shipping point C. Freight for delivery FOB shipping point D. Repair due to negligence of receiving clerk E. Receiving Department employee salary F. Cost of processing purchase orders. Which of the above costs would be included in inventory?
a. a,b,c
b. d,c
c. c,e,f
d. a,b,d,e
Ans: a. a,b,c
You might also like to view...
The primary disadvantage to a retailer in using diversion is:
A) additional shipping costs B) additional carrying costs C) exit fees D) slotting fees
Which of the following budgets is not directly associated with the production budget?
A) Direct materials purchases budget B) Factory overhead cost budget C) Capital Expenditures budget D) Direct labor cost budget
In a sale of goods, the use of the term "as is" indicates
a. to the buyer that there are no implied warranties upon which the buyer may depend. b. that in a sale the seller warrants that the goods are merchantable. c. to the buyer that a sales contract needs no consideration. d. that the sale includes most implied warranties.
The Electronics Division of Anton Company reports the following results for the current year: Revenues$800,000 Operating expenses$656,000 Operating income$144,000 Operating assets$1,200,000 Anton Company has set a target return on investment (ROI) of 11% for the Electronics Division.The Electronic Division's margin is:
A. 18%. B. 11.25%. C. 12%. D. 66.7%.