Functions of an insurance company's legal department include which of the following? I. Lobbying for legislation favorable to the insurance industry. II. Drafting policy provisions
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: C
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The practice of assigning costs evenly to jobs using a single overhead rate when different jobs actually consume resources in different proportions is sometimes called:
a. Smooth costing. b. Process costing. c. Activity-based costing. d. Peanut-butter costing.
Fantastic Futons goes through two departments in the production process. Each futon requires two direct labor hours in Department A and one hour in Department B. Labor cost is $8 per hour in Department A and $10 per hour in Department B. The budgeted overhead rate is $5 per direct labor hour. What is the budgeted overhead cost for January given a budgeted production of 30,000 units?
a. $450,000 b. $150,000 c. $330,000 d. $300,000
Answer the following statements true (T) or false (F)
1.Variable pay is compensation that depends on some measure of performance or results in order to be awarded. 2.Structural incentives reinforce performance of a single person with a reward that is significant to that person. 3.Group incentives provide reinforcement for actions of more than one individual within the organization. 4.Social talkers avoid providing their maximum effort in group settings because it is difficult to pick out individual performance. 5.In compensation, a merit raise is a lump sum, typically given once to an individual at the end of a time period.
If many individuals are involved in a buying decision, it is a case of a
A. straight rebuy. B. multiple buying influence situation. C. modified rebuy. D. selective rebuy. E. multiple input situation.