Raw materials used to produce products are:
A. promotional expenses.
B. variable expenses.
C. overhead expenses.
D. fixed expenses.
Answer: B
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Because it is a necessary financial statement, the work sheet must be prepared according to specified accounting procedures.
Answer the following statement true (T) or false (F)
A franchisee is generally legally independent of the franchisor
Indicate whether the statement is true or false
Hsu, Inc. sells a single product for $12. Variable costs are $8 per unit and fixed costs total $360,000 at a volume level of 60,000 units. Assuming that fixed costs do not change, Hsu's break-even point would be:
A. 90,000 units. B. 45,000 units. C. 30,000 units. D. negative because the company loses $2 on every unit sold. E. a positive amount other than the specific amounts given.
An ANOVA procedure is used for data obtained from five populations. Five samples, each comprised of 25 observations, were taken from the five populations. The numerator and denominator (respectively) degrees of freedom for the critical value of F are
A. 5 and 25. B. 4 and 25. C. 4 and 124. D. 4 and 120.