Wolanski Corporation has provided the following data for its most recent year of operations: Selling price per unit$48Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$11Direct labor$5Variable manufacturing overhead$5Fixed manufacturing overhead per year$110,000Selling and administrative expenses: Variable selling and administrative expense per unit sold$4Fixed selling and administrative expense per year$71,000 Units in beginning inventory 0Units produced during the year 11,000Units sold during the year 8,000Units in ending inventory 3,000 The unit product cost under variable costing is closest to:
A. $21.00
B. $35.00
C. $25.00
D. $31.00
Answer: A
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Identify the correct statement about the introduction stage of the product life cycle
A) In this stage, selling and advertising focus on the generic product. B) During this stage, the market grows rapidly in size. C) Usually, competition is most intense in this stage. D) During this stage, the sales curve becomes flat.
All of the following are reasons that pharmaceutical companies have higher barriers for entry than grocery stores except:
a. There is lengthy government testing and approval required. b. Research and development is a lengthy and uncertain process. c. Patent protection is needed for exclusive rights. d. The largest asset is typically capital intensive Property, Plant and Equipment.
Which itemized rating scale takes longer to complete than other itemized rating scales because respondents have to read each statement?
A) semantic differential scale B) Likert scale C) continuous rating scale D) Stapel scale
How should the costs and work of beginning work in process be treated?
A) Weighted average method B) FIFO method C) sequential processing method D) Both the weighted average and FIFO method can be used