In a cost-based pricing system, the markup should cover selling and administrative expenses and desired profit only
Indicate whether the statement is true or false
true
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Answer the following statements true (T) or false (F)
1) A process costing system is generally used by companies that produce homogeneous products. 2) Under a process costing system, product costs are accumulated with respect to jobs completed. 3) Under a process costing system, costs of completed products are transferred to the Finished Goods Inventory at the end of the accounting period. 4) The combined production costs from all departments for completed products are transferred to the Cost of Goods Sold account immediately after the completion of all production processes. The perpetual inventory system is used.
During this past year, a small publishing company sold 60,000 copies of Super Travel paperbacks (its only product) at $5 per book; total fixed costs were $14,000; and total variable costs were $3 per book. What is this company's breakeven point in units?
a. 9,800 units b. 7,000 units c. 28,000 units d. 14,000 units
Technical skill is a necessary and sufficient condition for hiring an employee.
Answer the following statement true (T) or false (F)
Which of the following does NOT fit the typical stereotype of persons in the United States?
a. friendly b. hard working c. monolingual d. stingy