Standard costs are preset costs for delivering a product or service under normal conditions.
Answer the following statement true (T) or false (F)
True
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It is possible to obtain information on cluster membership of cases via the icicle plot if the number of clusters is specified
Indicate whether the statement is true or false
The amount of depletion expense is determined by ________
a. multiplying the quantity extracted during the period by the depletion rate b. dividing the cost of the mineral deposit by the number of years estimated it will take to extract all the natural resources c. dividing the quantity extracted during the period by the depletion rate d. dividing the cost of the mineral deposit by its estimated size
During a crisis briefing, the question-and-answer session should last at least 30 minutes
Indicate whether the statement is true or false
Galla Inc. needs to determine a price for a new product. Galla desires a 25% markup on the total cost of the product. Galla expects to sell 5,000 units. Additional information is as follows: Variable product cost per unit$15 Variable administrative cost per unit 10 Total fixed overhead 45,000 Total fixed administrative 18,000 Using the total cost method what price should Galla charge?
A. $56 B. $62 C. $47 D. $30 E. $42