The competent supply chain manager decided to aggregate all inventories and as required, use fast mode of transportation for filling customer orders of his
A) high-value and high-demand product.
B) high-value and low-demand product.
C) low-value and high-demand product.
D) low-value and low-demand product.
Answer: B
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Research and development costs are
a. treated as an expense when incurred. b. capitalized but not amortized. c. capitalized and amortized over the periods that will probably benefit from the research and development. d. included with the cost of the patent resulting from the research and development.
Under which of the following contract devices does a seller usually retain title on a property until the full price for the property is paid?
A. Land sales contract B. Deed of trust C. Strict foreclosure D. Mortgage
The proper sequence for the steps in the accounting cycle is a follows
A) analyze and record transactions, post transaction to the ledger, prepare a trial balance, prepare financial statements, journalize closing entries, analyze adjustment data and prepare adjusting entries B) prepare a trial balance, analyze adjustment data, prepare adjusting entries, prepare financial statements, journalize closing entries and post to the ledger, analyze and record transactions, post transactions to the ledger, C) analyze and record transactions, post transactions to the ledger, prepare a trial balance, analyze adjustment data, prepare adjusting entries, prepare financial statements, journalize closing entries and post to the ledger D) prepare financial statements, journalize closing entries and post to the ledger, analyze and record transactions, post transactions to the ledger, prepare a trial balance, analyze adjustment data, prepare adjusting entries,
Bulluck Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateDirect materials 3.5grams$1.00per gramDirect labor 0.7hours$11.00per hourVariable overhead 0.7hours$2.00per hourThe company reported the following results concerning this product in July. Actual output 3,000unitsRaw materials used in production 11,370gramsActual direct labor-hours 1,910hoursPurchases of raw materials 12,100gramsActual price of raw materials purchased$1.20per gramActual direct labor rate$11.40per hourActual variable overhead rate$2.10per hourThe company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The materials quantity variance for July is:
A. $1,044 F B. $1,044 U C. $870 U D. $870 F