In forward selection stepwise regression with ten predictor variables, which of the following statements is correct?
a. The procedure starts with 10 predictor variables and eliminate one predictor at each iteration.
b. The procedure starts with 2 predictor variables and add one predictor at each iteration.
c. The procedure starts with 1 predictor variable and add one predictor at each iteration.
d. The procedure starts with no predictor variables and add one predictor at each iteration.
D
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On January 1, 2017, Fryer Company enters into a contract to supply 600 pastry frying machines to a regional donut retailer. The machines will be delivered at a rate of 25 machines per month over 2 years at a transaction price of $1,000 per machine. The salesperson received a $36,000 sales commission on the date the contract was signed. The journal entry to record the transaction on January 1 will
include a A) debit Prepaid Sales Commissions for $36,000. B) debit Sales Commission Expense for $36,000. C) credit Sales Revenue $600,000. D) credit Sales Revenue $564,000.
Inventory methods such as LIFO and FIFO deal more with cost flow than with goods flow
Indicate whether the statement is true or false
An oral agreement is enforceable indefinitely.
Answer the following statement true (T) or false (F)
Universal Manufacturing uses a weighted-average process-costing system. All materials are introduced at the start of manufacturing, and conversion costs are incurred evenly throughout the process. The company's beginning and ending work-in-process inventories totaled 10,000 units and 15,000 units, respectively, with the latter units being 2/3 complete at the end of the period. Universal started 30,000 units into production and completed 25,000 units. Manufacturing costs follow.Beginning work in process: Materials, $60,000; conversion cost, $150,000Current costs: Materials, $180,000; conversion cost, $480,000Universal's equivalent-unit cost for materials is:
A. $4.50. B. $9.60. C. $8.00. D. $6.00. E. None of the answers is correct.