Cost of goods manufactured is the amount of cost transferred:
A. out of Finished Goods Inventory and into Work in Process Inventory.
B. out of Finished Goods Inventory and into Cost of Goods Sold.
C. out of Work in Process Inventory and into Manufacturing Overhead.
D. out of Work in Process Inventory and into Finished Goods Inventory.
Answer: D
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The Bacon Company acquired new machinery with a price of $15,200 by trading in similar old machinery andpaying $12,700 . The old machinery originally cost $9,000 and had accumulated depreciation of $5,000 . Inrecording this transaction, Bacon Company should record
a. a loss of $1,500 b. the new machinery at $16,700 c. a gain of $1,500 d. the new machinery at $12,700
As a predictor of job dissatisfaction, nothing exceeds
A. relationships with co-workers. B. negative self-evaluations. C. negative affectivity. D. the geographical location of the firm. E. the nature of the task itself.
A manufacturer generally wants to set a standard that:
a. Can be achieved only under the most efficient operating conditions. b. Is high enough to provide motivation and promote efficiency, but is still attainable. c. Makes no allowance for normal waste or spoilage. d. None of these is correct.
A skimming price policy tries to sell to customers who are at the top of the demand curve first, before aiming for more price-sensitive customers.
Answer the following statement true (T) or false (F)