Which of the following is/are not true regarding the Raw Materials Inventory account?
a. The Raw Materials Inventory account includes the cost of raw materials purchased but not yet transferred to the factory floor.
b. The merchandising firm records purchases of raw materials as debits to the Raw Materials Inventory account.
c. When the manufacturer physically transfers raw materials to the factory floor, it also transfers the cost of the raw materials from the Raw Materials Inventory account to the Work-in-Process Inventory account.
d. When the manufacturer physically transfers raw materials to the factory floor, it records this transfer as a credit to the Raw Materials Inventory account for the cost of the raw materials transferred and a debit to the Work in Process Inventory account.
e. all of the above
B
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Traditional contract law is basically designed to protect bargains that people make and that satisfy all the legal requirements for a binding contract.
Answer the following statement true (T) or false (F)
Dapper Hat Makers is in the business of designing and producing specialty hats. The material used for derbies costs $4.50 per unit, and Dapper pays each of its two full-time employees $250 per week. If the company makes 30 derbies in a week, what is the variable cost per derby?
A) $4.50 B) $15.00 C) $16.67 D) $21.17
If the right-hand-side value of a binding constraint is increased by one unit, then the objective function will change in an amount equal to the shadow price
a. True b. False
Which of the following is NOT true of United States trustees:
a. are government officials appointed by the U.S. Attorney General. b. have administrative responsibilities in bankruptcy cases in almost all of the districts. c. select bankruptcy trustees. d. are the same as bankruptcy trustees.