A title search guarantees rightful ownership
Indicate whether the statement is true or false
False
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What does it mean to say that memory is dynamic, creative, and social? Give an example that illustrates these three components.
What will be an ideal response?
Structuring a Make-or-Buy Problem Fresh Foods, a large restaurant chain, needs to determine if it would be cheaper to produce 5,000 units of its main food ingredient for use in its restaurants or to purchase them from an outside supplier for $12 each. Cost information on internal production includes the following:
Total Cost Unit Cost Direct materials $25,000 $ 5.00 Direct labor 15,000 3.00 Variable manufacturing overhead 7,500 1.50 Variable marketing overhead 10,000 2.00 Fixed plant overhead 30,000 6.00 Total $87,500 $17.50 Fixed overhead will continue whether the ingredient is produced internally or externally. No additional costs of purchasing will be incurred beyond the purchase price. 1. What are the alternatives for Fresh Foods? 2. List the relevant cost(s) of internal production and of external purchase. 3. Which alternative is more cost-effective? 4. Now assume that 20% of the fixed overhead can be avoided if the ingredient is purchased externally. Which alternative is more cost-effective? By how much?
Recording expenditures for items that cost a significant amount as expenses rather than long-term assets violates which of the following accounting conventions?
a. Conservatism b. Materiality c. Cost-Benefit d. Consistency
______ can also represent preferences among different effectiveness criteria, so that groups can be said to have a service climate or a safety climate that influences its performance in terms of service or safety.
A. Task performance B. Role assignment C. Group norms D. Status systems