In the systems theory, understanding ________ helps a manager know which sets of circumstances dictate which management actions.
A. physical needs
B. economies
C. inputs
D. contingencies
E. outputs
Answer: D
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A corporation is an economic unit that is legally separate from its owners
Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. Direct labor costs are accumulated in the Manufacturing Overhead account. Process costing is used. 2. The journal entry to record indirect labor costs incurred, but not paid, includes a debit to Manufacturing Overhead and a credit to Wages Payable. Process costing is used. 3. Under a process costing system, direct labor costs are assigned to the Work-in-Process Inventory account of the department for which they are incurred. 4. Under process costing, depreciation on plant machinery is debited to the respective department's Work-in-Process Inventory. 5. When finished products are sold, Sales Revenue is debited, and Cost of Goods Sold is credited. Process costing and the perpetual inventory system are used.
If the standard deviation is 3.5, the Z value is 1.0, and the expected date of completion is 30 weeks, then the due date for project completion is ______.
A. 33.5 weeks B. 41.5 weeks C. 21.95 weeks D. 38.55 weeks
Which of the following is an assumption underlying standard CVP analysis?
A. Fixed expenses will change as volume increases. B. In multiproduct companies, the sales mix is constant. C. The price of a product or service is expected to change as volume changes. D. In manufacturing companies, inventories always change.