Regardless of the product costing system used, when the products are completed, they are transferred from work in process inventory to finished goods inventory
Indicate whether the statement is true or false
True
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Which one of the following statements is true?
a. The audit committee provides contact between the board of directors and the key officers of the company. b. The audit committee has become less involved in the financial accounting system as a result of the Foreign Corrupt Practices Act. c. The audit committee is a board of directors subset that acts as a direct contact between the stockholders and the independent accounting firm. d. The board of directors consists of the company's external auditors.
Logic teach Inc, a software manufacturing firm, specializes in inventory management and billing software for supermarkets and hotels
The product has a price of $500, acquisition cost of $100, installation cost of $300, and usage and maintenance cost of $300. What is the life-cycle cost of Logic Tech's inventory management software? A) $1,200 B) $300 C) $600 D) $1,000 E) $500
The Waco Tire Company (WTC) is considering expanding production to meet possible increases in demand. WTC’s alternatives are to construct a new plant, expand the existing plant, or do nothing in the short run. It will cost them $1 million to build a new facility and $600,000 to expand their existing facility. The market for this particular product may expand, remain stable, or contract. ETC’s marketing department estimates the probabilities of these market outcomes as 0.30, 0.45, and 0.25, respectively. The expected revenue for each alternative is presented in the table below.
MKT expands MKT stable MKT contracts Build new plant$1,650,000 $1,000,000 $450,000 Expand plant$1,000,000 $850,000 $450,000 Do nothing$0 $0 $0 ? ? What course of action is optimal for WTC? What is the expected profit in that case? What will be an ideal response?
A bottleneck happens when a key piece of manufacturing machinery can produce 1000 units per hour and demand for the product supports a production rate of 1200 units per hour
Indicate whether the statement is true or false