Which of the following would not be considered a product cost?
A. Direct material costs.
B. Direct labor costs.
C. Manufacturing overhead costs.
D. Budget accountant's salary.
E. Factory supervisor's salary.
Answer: D
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Garza Company had sales of $135,000, sales discounts of $2,000, and sales returns of $3,200. Garza Company's net sales equals:
A. $129,800. B. $133,000. C. $140,200. D. $5,200. E. $135,000.
Dividends paid appears on both the income statement and the statement of retained earnings
a. True b. False Indicate whether the statement is true or false
Kendall's company has bought office stationery and business cards from the same printing company for five years. Recently Kendall's company moved into a bigger office down the street. She called the printing company to order new stationery with the updated address. This is an example ofÂ
A. a modified rebuy. B. an altered rebuy. C. a new buy. D. a straight rebuy. E. a tailored rebuy.
What is the reorder point for Kushie's if they reorder a quantity twice as high as their EOQ?
Kushie's Coffee in Bangalore is a quaint establishment nestled near MG Road in the central business district. It serves coffee and fruit cake to a clientele that has been enjoying these products for over fifty years. The demand for coffee beans is 6600 cases per year (each case has 24 ten-pound bags). It would be disastrous for them to run out of coffee, so they keep a safety stock of 30 cases. The cases cost $4800 and it costs $5 per case to order coffee. As coffee is a perishable product, the holding cost is fairly high at $40/case/year. The lead time to receive an order is seven days. Kushie's is open 300 days a year.