Breaking any of the four pricing rules for a long period will force a company into bankruptcy
Indicate whether the statement is true or false
True
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The initial step in achieving the efficiency of a just-in-time system is to
a. redesign the plant layout. b. replace laborers with machines. c. stop ordering materials for inventory. d. identify products that are not profitable.
A supermarket administrator suspects that idle time is about 20 percent for the cashier and 15 percent for the office clerk
If the administrator wants a 95 percent confidence level (z = 1.96 ) and a degree of precision of + 0.05 for both cashier and office clerk, how many TOTAL observations are needed? A) fewer than or equal to 200 B) greater than 200 but fewer than or equal to 300 C) greater than 300 but fewer than or equal to 400 D) greater than 400
You want to include a detailed marketing organizational chart in the company marketing plan. ? Which of the following sections of the marketing plan will you include this chart in?
A. ?SWOT Analysis B. ?Performance Evaluation C. ?Marketing Implementation D. ?Marketing Objectives E. ?Environmental Analysis
Dobrowolski Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which products are recorded at their standard cost and any variances are closed directly to Cost of Goods Sold. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:?InputsStandard Quantity or HoursStandard Price or RateStandard Cost?Direct materials1.8kilos$7.00per kilo$12.60?Direct labor0.50hours$21.50per hour10.75?Fixed manufacturing overhead0.50hours$7.50per hour3.75?Total standard cost per unit????$27.10The standard fixed manufacturing overhead rate was based on budgeted fixed manufacturing overhead of $75,000 and budgeted activity of 10,000
hours.During the year, the company applied fixed overhead to the 12,900 units in work in process inventory using the predetermined overhead rate multiplied by the number of direct labor-hours allowed. Actual fixed overhead costs for the year were $62,600. Of this total, -$3,400 related to items such as insurance, utilities, and indirect labor salaries that were all paid in cash and $66,000 related to depreciation of manufacturing equipment.Required:Completely record the transactions involving fixed overhead, including any variances, in the worksheet that appears below. Because of the width of the worksheet, it is in two parts. In your text, these two parts would be joined side-by-side to make one very wide worksheet. The beginning balances have been provided for each of the accounts, including the Property, Plant, and Equipment (net) account which is abbreviated as PP&E (net).??CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)=?1/1$1,120,000 $36,540 $0 $62,330 $655,000 =???????=???????=???????=??Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings?1/1$0$0$0$0$0$0$1,873,870 ??????????????????????????? What will be an ideal response?