The value of the sum of the deviations from the mean, i.e., 
must always be
A. less than the zero.
B. negative.
C. either positive or negative depending on whether the mean is negative or positive.
D. zero.
Answer: D
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Which of the following journal entries records the accrual of the cost of indirect labor used in production?
a. Debit Work in Process Inventory, credit Manufacturing Overhead. b. Debit Manufacturing Overhead, credit Wages Payable. c. Debit Manufacturing Overhead, credit Work in Process Inventory. d. Debit Work in Process Inventory, credit Wages Payable.
JAX Inc In early 2012, JAX Inc had budgeted for the production and sales of 5,000 units at a sales price of $15 per unit. The following information is available regarding the standard cost for each unit: Direct materials: 1.50 pounds at $2.50 per lb Direct labor: 30 minutes of assembly at $.20 per minute Actual results for 2012 were determined to be as follows: Number of units produced and sold:
5,600 units Sales revenue: $100,800 ($18 per unit) Direct materials cost: $ 22,848 (9,520 lbs purchased and used at $2.40 per lb) Direct labor cost: $ 38,192 (173,600 minutes at $.22 per minute) Refer to the JAX Inc information above. What was JAX Inc's direct labor rate variance for 2012? A) $3,360 F B) $3,360 U C) $3,472 F D) $3,472 U
In which of the following types of offers does the seller offer the goods for sale?
A) a revocation B) a reward C) an auction with reserve D) an auction without reserve
The prices at which the currency of one country can be converted into the currencies of other countries are known as _____.
A. procurement prices B. political risk costs C. exchange rates D. conversion costs E. transfer prices