The purchase of goods and services as they are needed, usually at prevailing market prices, best defines

A) direct materials.
B) consolidation.
C) spot buying.
D) strategic sourcing.


C

Business

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Raptor Company is considering replacing equipment which originally cost $500,000 and which has $460,000 accumulated depreciation to date. A new machine will cost $790,000 and the old equipment can be sold for $8,000. What is the sunk cost in this situation?

A) $53,000 B) $40,000 C) $37,000 D) $290,000

Business

Developmental purposes for performance appraisal include evaluating training programs and determining promotion candidates.

Answer the following statement true (T) or false (F)

Business

At the beginning of the year, Barcroft Co. estimated that its total annual fixed overhead costs would amount to $25,000. Further, Barcroft estimated that its volume of production would be 2,000 units of product. Based on these estimates, Barcroft computed a predetermined overhead rate that was used to allocate overhead costs to the products made during the year. As predicted, actual fixed overhead costs did amount to $25,000. However, actual volume of production amounted to 2,200 units of product. Based on this information alone:

A. Products were overcosted during the year. B. Products were costed accurately during the year. C. Products were undercosted during the year. D. The answer cannot be determined from the information provided.

Business

________ is a procedure that minimizes makespan in scheduling a group of jobs on two workstations

Fill in the blanks with correct word

Business