Sivret Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:Total machine-hours80,000Total fixed manufacturing overhead cost$ 624,000Variable manufacturing overhead per machine-hour$ 3.10 Recently, Job M598 was completed with the following characteristics:Number of units in the job60Total machine-hours300Direct materials$ 645Direct labor cost$ 9,000If the company marks up its unit product costs by 40% then the selling price for a unit in Job M598 is closest to:
A. $86.10
B. $301.35
C. $225.05
D. $321.35
Answer: B
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A direct tax on imports to make them more expensive is known as a ______.
a. tariff b. embargo c. subsidy d. quota
Caveat emptor refers to
A. the Latin term meaning that 'all is fair in love and war,' an attitude that was held by most marketers prior to the 1990s. B. the legal concept of 'let the buyer beware,' which was pervasive in the American business culture prior to the 1960s. C. the marketing concept of 'be first or be last,' implying that the first company to the marketplace wins. D. the Latin phrase meaning 'empty promises,' which was a charge placed upon many firms during the period after WWII when products failed to meet their marketing claims. E. the legal concept of 'such is life,' which created many illegal as well as legal but unethical business practices during the 1980s.
Under the Uniform Commercial Code, when the minor has sold goods and the buyer has resold them to a good faith purchaser for value:
a. the minor can disaffirm and recover the property. b. both the purchaser from the minor and the good faith purchaser for value acquire legal title. c. the good faith purchaser for value acquires legal title. d. the good faith purchaser for value receives a voidable title.
Matrix structures try to take advantage of two types of structure at the same time.
Answer the following statement true (T) or false (F)