Which of the following is true for services?

A) All services are people-based, while goods are equipment-based.
B) Service providers can be both for-profit or nonprofit.
C) All service companies follow the same process to deliver their services.
D) The client's presence is a hindrance during the service delivery process.
E) Service providers develop similar marketing programs for personal services and business services.


B

Business

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Standard Corporation has developed standard manufacturing overhead costs based on a capacity of 180,000 direct labor-hours (DLHs) as follows:Standard overhead costs per unit:Variable portion: 2 DLHs × $3 per DLH = $6Fixed portion: 2 DLHs × $5 per DLH = $10The following data pertain to operations in April:    Actual output 80,000unitsActual direct labor cost$644,000 Actual direct labor-hours worked 165,000DLHsVariable overhead cost incurred$518,000 Fixed overhead cost incurred$860,000 The variable overhead rate variance for April was:

A. $15,000 Unfavorable B. $23,000 Unfavorable C. $38,000 Unfavorable D. $38,000 Favorable

Business

Which of the following holds true for the royalty fee paid by a franchisee?

A) It is a lump-sum payment for the privilege of being granted a franchise. B) It is a fee for promotional campaigns and administrative costs. C) It is a fee for the continued use of a franchisor's trade name. D) It is a payment for any land or equipment leased from a franchisor.

Business

How is the theory of negligence in product liability different in common law states compared to countries that don't follow common law?

What will be an ideal response?

Business

In contract law, the term consideration refers to the serious thought that underlies a party's intent to enter into a contract

Indicate whether the statement is true or false

Business