Within the relevant range, fixed and variable costs are fairly predictable
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Consider the following situation: The marketing manager of Gramblin, Inc. accepted a rush order for a nonstock item from a valued customer. The manager filed the necessary paperwork with the production department, and a production manager did the same with purchasing for needed raw materials. Unfortunately, a purchasing clerk temporarily lost the paperwork; by the time it was found, it was too late to order from Gramblin's regular supplier. A new supplier was located that quoted a very attractive price.The materials soon arrived and were found to be of poor quality, thus giving rise to a favorable materials price variance, an unfavorable materials quantity variance, and an unfavorable labor efficiency variance. These latter two variances, based on normal practice, appeared on the
production manager's performance report for the period just ended.Required: A. Given that the company uses a responsibility accounting system, should the production manager be penalized for poor performance? Briefly discuss, keeping in mind that a production manager is generally in a very good position to control material usage and labor efficiency.B. Should anything be done to correct the situation? If "yes," briefly explain. What will be an ideal response?
What does the total number of hits a page receives refer to?
(a) The total number of objects loaded. (b) The total number of unique visits. (c) The total number of images loaded (d) The total number of click-throughs from the page through a banner ad.
Last week, you sold 800 shares of Ace stock for $24,000. The sale was a short sale with an initial margin requirement of 70 percent. The maintenance margin is 40 percent. Some positive news concerning the company was released last night and the stock price jumped this morning to $35 a share. What is your current margin position in this stock?
A. 56.67 percent B. 45.71 percent C. 27.50 percent D. 38.68 percent E. 61.33 percent
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