The cost complement is the _____
a. adjusted retail book value times gross margin
b. total cost of goods sold divided by total retail sales
c. total retail valuation times 0.7
d. total cost valuation divided by the total retail valuation
d
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The inventory turnover ratio
a. measures management's ability to productively employ all of its resources. b. measures the efficient use of assets held for resale. c. is a stringent measure of liquidity. d. provides a measure of the strength of the sales mix the company currently employs.
Classify the following as either direct labor (DL), indirect labor (IL), or a period cost (P). a. factory maintenance worker b. company president c. assembly-line worker d. salesperson working on commission e. factory supervisor f. administrative assistant g. machine operator
In deciding whether to vote "yes" in the union election, Joan is not particularly interested in becoming a union member but strongly believes that the union will improve the wages and working conditions at her company. Joan is likely to vote "yes" in the election because her level of __________________ is high.
A. Utility maximization B. Union instrumentality C. General beliefs about unions D. Workplace and social identity with unions
Misty Hancock is a sales rep for a computer producer. Her salary last year was $30,000, and she earned another $5,000 in sales commissions. She paid $6,000 in taxes, and spent $8,000 on food, housing, a car, and other "necessities." What is Misty's discretionary income?
A. $34,000 B. $24,000 C. $8,000 D. $21,000 E. $15,000