Market research should be an integral part of your business.
Answer the following statement true (T) or false (F)
True
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On a work sheet, the Debit columns of the Income Statement and the Balance Sheet sections both total more than the Credit columns. This represents
a. an error in the accounting procedures for the period; b. a net loss; c. a net income; d. accumulated depreciation and other expenses; e. unearned revenue.
Answer the following statements true (T) or false (F)
1. Focal objects are not always physical things. For example, they can also be behaviors of people. 2. The three factors that influence perceptions mentioned in the textbook are the comprehender, the environment, and the focal object. 3. Our attempts to organize and sift huge amounts of everyday complex information can lead to inaccuracies and cloud our perceptions of different people, situations, and events. 4. Projecting occurs when a person bases behavior on preexisting expectations about another person or situation in order to create an outcome aligned with those expectations. 5. Internal and external attributions are the two causes people look for to explain behavior of others. This is called attribution theory.
When evaluating secondary data, the ________ criteria asks the question of "why the data were collected in the first place."
A) nature B) objective C) error/accuracy D) currency
ChemKill Manufacturing produces a chemical pesticide and uses process costing. There are three processing departments—Mixing, Refining, and Packaging. On January 1, the first department—Mixing—had a zero beginning balance. During January, 44,000 gallons of chemicals were started into production. During the month, 35,000 gallons were completed, and 9000 remained in process, partially completed. In the Mixing Department, all direct materials are added at the beginning of the production process, and conversion costs are applied evenly throughout the process.
During January, the Mixing Department incurred $52,000 in direct materials costs and $211,000 in conversion costs. At the end of the month, the ending inventory in the Mixing Department was 60% complete with respect to conversion costs. The weighted-average method is used. The total cost of the chemical pesticide in ending inventory was ________. (Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.) A) $211,000 B) $52,000 C) $38,808 D) $263,000