Which of the following is a reason that motivates a company to carry as little inventory as possible?
a. The fixed cost of ordering
b. The desire not to run out of products that customers demand
c. The lead time to process a supply order
d. Interest costs
d
You might also like to view...
Consider the following information: direct materials used totaled $134,400; direct labor amounted to $396,800; overhead was computed to be $789,600; Work in Process Inventory on January 1, 2010, was $378,200; and Work in Process Inventory on December 31, 2010, was $385,200 . What was the cost of goods manufactured?
a. $1,313,800 b. $1,320,800 c. $1,327,800 d. $2,084,200
One might infer from a debit balance in Allowance for Uncollectible Accounts that
A) a posting error has been made. B) Uncollectible Accounts Expense has been overestimated. C) the accounts receivable aging method apparently is being used. D) more has been written off than had been estimated.
In computing the accounting rate of return, which of the following should be used as the demominator
a. average. b. cumulative. c. initial. d. residual.
Sam expressed an interest in buying a painting from Jasper, who claimed that the painting was a family heirloom. Jasper's asking price was $15,000, but Sam was only willing to offer $13,000
Jasper told him that it was a very old painting worth a fortune and that others would gladly pay $20,000 for it. He also told him that he was only selling it under its market value because he needed the money immediately. He then implied that Sam could sell it for a higher rate if he wanted. In legal terms, Jasper's words to Sam would be considered as ________. A) an express warranty B) an implied warranty of merchantability C) a statement of opinion D) an oral contract