Twitter is currently the largest social networking platform in the world.
Answer the following statement true (T) or false (F)
False
Facebook is currently the largest social networking platform in the world, at over 1.5 billion users.
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What layout strategy deals with low-volume, high-variety production?
A) fixed-position layout B) retail layout C) warehouse layout D) office layout E) process-oriented layout
Olav owns Precision Painting, a sole proprietorship. Olav's liability is? A) limited by state statute and varies from state to state
B) limited to the extent of capital expenditures. C) limited to the extent of his or her original investment. D) unlimited.
Which cost would not be considered part of a holding cost?
a. cost of capital b. shipping cost c. insurance cost d. warehouse overhead
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $5 per unit, Direct labor, $3 per unit, Variable overhead, $4 per unit, and Fixed overhead, $250,000. The company produced 25,000 units, and sold 20,000 units, leaving 5,000 units in inventory at year-end. What is the value of ending inventory under absorption costing?
A) $60,000 B) $110,000 C) $50,000 D) $250,000