A(n) ______ is a good, a service, or a combination of the two.
a. item
b. product
c. object
d. output
b. product
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Absorption and variable costing are two different methods of measuring income and costing inventory.Required: A. Product costs are defined as costs associated with the manufacturing process. How does the operational definition of product cost differ between absorption costing and variable costing?B. An absorption-costing income statement will report gross profit or gross margin whereas a variable-costing income statement will report contribution margin. What is the difference between these terms?
What will be an ideal response?
Montpellier Mediterranean Designs has decided that, as part of the fashion industry, it should move to a more organic structure. Montpellier should
A. simplify and eliminate rules and procedures. B. centralize authority. C. clearly define job responsibilities. D. disband teams and task forces. E. focus on improving uniformity.
________ is a method of entering a foreign market by associating with foreign companies to produce or market products or services
A) Joint venturing B) Indirect exporting C) Direct investment D) Importing E) Direct exporting
Periodic and perpetual are examples of inventory costing systems
Indicate whether the statement is true or false