A responsibility center in which a manger has only the authority to control cost is referred to as a(n) _________________________
Fill in the blank(s) with correct word
cost center
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When an organization is using growth strategy, it will
A. have benefit levels that are above market levels. B. have a time orientation that is short-term. C. have pay levels that are below market levels in the short run. D. make centralized pay decisions. E. not share risks with employees.
Kelso Massage Therapy promises its clients that there wait for a massage will be less than fifteen minutes or the massage is free. What type of service recovery tool is Kelso Massage Therapy using?
A. Offer a guarantee B. Do it right the first time C. Respond quickly D. Implement the service paradox E. Act proactively instead of reactively
Ideally, in waiting line or queuing analysis, we want to balance the cost of service capacity with the cost of waiting.
Answer the following statement true (T) or false (F)
Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Budgeted selling price per unit$97Budgeted unit sales (all on credit): January 10,000 February 12,000 March 13,300 April 15,200 Raw materials requirement per unit of output 4poundsRaw materials cost$1.00per poundDirect labor requirement per unit of output 2.5direct labor-hoursDirect labor wage rate$23.00per direct labor-hourPredetermined overhead rate (all variable)$9.00per direct labor-hourVariable selling and administrative expense$3.10per unit soldFixed selling and administrative expense$70,000per monthCredit sales are collected:30% in the month of the sale70% in the following monthRaw materials
purchases are paid:30% in the month of purchase70% in the following monthThe ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.The estimated selling and administrative expense for February is closest to: A. $71,470 B. $37,200 C. $70,000 D. $107,200