Glew Corporation has provided the following information: Cost per UnitCost per PeriodDirect materials$6.00 Direct labor$3.35 Variable manufacturing overhead$1.75 Fixed manufacturing overhead $8,800Sales commissions$1.00 Variable administrative expense$0.40 Fixed selling and administrative expense $4,000For financial reporting purposes, the total amount of product costs incurred to make 4,000 units is closest to:
A. $53,200
B. $44,400
C. $8,800
D. $57,200
Answer: A
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To determine the sample size for a test of controls, an auditor should consider the tolerable deviation rate, the desired confidence level, and the:
A. expected population deviation rate. B. computed upper precision limit. C. risk of incorrect rejection. D. risk of assessing control risk too high.
Perceptual error of a self-serving nature may involve distortions in the evaluation of information. One example is the false-consensus effect. Briefly describe this effect.
What will be an ideal response?
An assembly line to be balanced has six tasks in precedence. The task times are shown in the following table. Based on demand forecasts, the output rate has to be 160 units per day. The line operates 8 hr a day. Compute the task sequence using the most-following-tasks rule.
A. A, C and B, D, E, F
B. A, B and E, C, D, F
C. A, B, C, D, E, F
D. A, B, C, D and E, F
Which of the following best captures the type of decisions that are made at the strategic marketing level?
a. Identify six strong market segments and pursue all equally. b. Develop a position statement that clearly illustrates the value proposition for the product and identify target markets accordingly. c. Quickly secure advertising spots in the journals with the highest readership. d. Decide to price the product using the cost-pricing method. e. Collect market research to identify key trade shows.