A contract written exclusively by one party and presented to the other party on a take-it-or-leave-it basis is an adhesion contract.
Answer the following statement true (T) or false (F)
True
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Product costs that are transferred out of finished goods are called:
A) work in process. B) cost of goods manufactured. C) cost of goods sold. D) period costs.
A firm may have a negative cash conversion cycle if it carries ________
A) very little inventory and sells its products on credit B) high inventory and sells its products on credit C) very little inventory and sells its products for cash D) high inventory and sells its products for cash
Mullee Corporation produces a single product and has the following cost structure: Number of units produced each year 7,000Variable costs per unit: Direct materials$51Direct labor$12Variable manufacturing overhead$2Variable selling and administrative expense$5Fixed costs per year: Fixed manufacturing overhead$441,000Fixed selling and administrative expense$112,000 The absorption costing unit product cost is:
A. $128 per unit B. $149 per unit C. $65 per unit D. $63 per unit
List Porter's five forces
What will be an ideal response?