Labels on fresh vegetables must indicate where the food originated
a. True
b. False
Indicate whether the statement is true or false
True
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The following lots of a particular commodity were available for sale during the year: Beginning inventory 10 units at $55 First purchase 25 units at $65 Second purchase 30 units at $68 Third purchase 15 units at $70 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of the inventory at the end of the year according to the
lower of cost or market, using the first-in, first-out method, if the current replacement cost is $68 a unit? A) $1,200 B) $1,100 C) $1,360 D) $1,390
The expected annual usage of a specific raw material used in the production process is 250,000 units, and standard order size is 25,000 units. The invoice cost of each unit is $75, and the cost to place one purchase order is $150 . The estimated annual order cost is:
a. $6,000 b. $1,500 c. $15,000 d. $12,000
Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except
A. improving actual performance. B. reducing the performance standard. C. totally changing the performance standard. D. changing the marketing strategy. E. coordinating a new step in performance analysis.
A special permit is another term for variance
Indicate whether the statement is true or false