A bakery uses 5 kanban containers that each holds 3 cakes. Daily demand is 10 cakes and safety stock is 5 cakes. What is the lead time?
What will be an ideal response?
5 = (5 + 10LT)/3; LT = 1 day
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The Stockholders' Equity section of the balance sheet of Sea Turtle Company reveals the following information: Common stock, $3 par value $150,000 Additional paid-in capital—common 850,000 There have been two issues of stock since the corporation began business. The average issue price per share of stock was
a. $3.00. b. $17.00. c. $20.00. d. Not enough information to determine.
A CPA reviews an entity's payroll procedures. The CPA would consider internal control to be less than effective if a payroll department supervisor was assigned the responsibility for:
A. distributing payroll checks to employees. B. initiating requests for salary adjustments for subordinate employees. C. hiring subordinate employees. D. reviewing and approving time reports for subordinate employees.
How is the audit report referred to when the auditor has no reservations about management's financial statements?
a. An unqualified report. b. A qualified report. c. An adverse report. d. An integrated report.
Which of the following statements is not correct with respect to Fetzer Vineyards' sustainability efforts?
A. Fetzer accounts for its profit (one component of the triple bottom line) based on growth and dollars. B. Fetzer accounts for its planet impact (one component of the triple bottom line) by protecting its environment. C. Barney Fetzer began producing wine in 1968, and he incorporated triple bottom line sustainability accounting in 2014. D. Fetzer accounts for its people impact (one component of the triple bottom line) by contributing to society.