Which of the following is most likely to be a valid reason for initiating a price increase?
A) anticipated cost inflation
B) excess plant capacity
C) a drive to dominate the market
D) a low-cost strategy
E) a market share objective
A
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Kalp Corporation has two production departments, Machining and Finishing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Machining Department's predetermined overhead rate is based on machine-hours and the Finishing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: MachiningFinishingMachine-hours 19,000 12,000Direct labor-hours 2,000 8,000Total fixed manufacturing overhead cost$136,800$69,600Variable manufacturing overhead per machine-hour$1.80 Variable manufacturing overhead per direct labor-hour $3.20 During the current month the company started and finished Job K928. The following data were
recorded for this job: Job K928:MachiningFinishingMachine-hours 90 10Direct labor-hours 30 50Direct materials$775$415Direct labor cost$630$1,050The total amount of overhead applied in both departments to Job K928 is closest to: A. $2,000 B. $1,405 C. $810 D. $595
Top management of a public corporation legally report to the shareholders
a. True b. False Indicate whether the statement is true or false
Value checks are usually performed for any data
Indicate whether the statement is true or false
Brahma entered into an oral agreement to sell 50 jet skis to Summer Sports. Brahma delivered 20 of the skis on May 1. On June 1, Summer Sports notified Brahma that it will not honor the agreement. Which statement is correct?
The contract is void since it was oral. The contract is enforceable for 20 jet skis. The contract is enforceable for the 50 jet skis The contract is obsolete.