Comparing one company with another in the same industry should cause no problems since companies in the same industry are required to use the same GAAP
a. True
b. False
Indicate whether the statement is true or false
False
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In which of the following conditions should constructive conflict be stimulated?
A. Managers want to achieve work objectives. B. The group seems to be afflicted with inertia and apathy. C. The group is adapting to change. D. Managers are in charge of self-managed teams. E. There is a lot of internal competition.
Which one of the following is an investing activity of a business?
a. Paying for purchases of inventory b. Issuing stock for cash c. Borrowing money from a bank d. Purchasing a manufacturing plant for cash
As director of operations for Little Napoli Pizzerias, Bernard has set a goal of opening fourteen new stores on the West Coast in the next three years. He has chosen Angelina, a highly capable manager who has worked with the company for the better part of a decade, to take on this task. He meets with her, gets her suggestions and feedback, and sets about to ensure that she has the resources she needs to complete the assignment. A year later, the project seems to be on track, with four stores already opened and another four ready to go. However, at the time of their next meeting, with just six months left before the targeted completion date, the project is in disarray. What is the most likely cause for this failure?
A. Bernard did not meet with Angelina at regular and appropriate intervals. B. Angelina failed to get Bernard to clearly outline her responsibilities. C. Angela did not make it clear to Bernard what resources she needed. D. Bernard did not establish clear goals for Angelina. E. Angelina simply lacked the qualifications to get the job done.
Golden Glow Company manufactures candles. The standard direct materials quantity required to produce one large candle is 1 pound at a cost of $5 per pound. Every candle requires 2 direct labor hours at a standard cost of $3 per direct labor hour. During November, 7,200 large candles were produced using 7,500 pounds costing $45,000. At the end of November, an examination of the labor cost records showed that the company used 15,000 direct labor hours (DLHr) at a cost of $4 per hour.
Using the format below, prepare an analysis of the direct labor cost variances.
