In a just-in-time (JIT) environment, quality is determined at quality control checkpoints in the manufacturing process
Indicate whether the statement is true or false
F
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The University Store, Inc. is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below: University Store, Inc.Income StatementFor the Quarter Ended March 31Sales $800,000Cost of goods sold 560,000Gross margin 240,000Selling and administrative expenses Selling$100,000 Administrative 110,000 210,000Net operating income $30,000 On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed. The cost formula for selling and administrative expenses with "X" equal to the number of books sold is:
A. Y = $110,000 + $33X B. Y = $110,000 + $5X C. Y = $105,000 + $5X D. Y = $105,000 + $3X
A work sampling method is used to determine the proportion of the time a machine is idle. The following information was gathered on a random basis
Day No. Times Clerk Idle Total No. of Observations Monday 4 12 Tuesday 2 8 Wednesday 4 10 Thursday 2 10 What is the proportion of idle time observed for this machine? A) less than or equal to 5% B) greater than 5% but less than or equal to 15% C) greater than 15% but less than or equal to 25% D) greater than 25%
The clause prohibiting the Federal Government from taxing exports is:
a. the Commerce Clause. b. the Import-Export Clause. c. the International Trade Clause. d. the Export Taxation Clause.
Beth is a minor. She purchases a set of sessions with a personal trainer, a water bottle and some weights from a fitness store. Later, Beth decides that she does not want the water bottle or weights. Beth? A)?can disaffirm the contract and return the water bottle and weights, but keep the training sessions
B)?can only disaffirm the contract if she returns all the goods. C)?cannot disaffirm the contract. D)?can disaffirm the contract and keep all the goods.