Premier luxury goods are distributed through a selective distribution strategy
Indicate whether the statement is true or false
FALSE
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Harrison, Inc, has computed direct labor standards for the manufacture of its product to be 4 hours of labor per product at a cost of $15 per hour. During March, Harrison produced 45 products in 190 hours and incurred direct labor costs of $2,720 . Harrison's direct labor efficiency variance was
a. $20 (U). b. $130 (U). c. $150 (U). d. $130 (F).
Which of the following could not be used in job-order costing?
a. standards b. an average cost per unit for all jobs c. normal costing d. overhead allocation based on the job's direct labor hours
Hugh Snow, the buyer, returned merchandise to Farley Co., the seller. The entry on the books of Farley company to record the return of merchandise from Hugh Snow would include a:
A. Debit to Sales Returns and Allowances B. Debit to Accounts Payable C. Debit to Account Receivable D. Credit to Sales Returns and Allowances
Trein, Inc entered into a one-year, $1 million contract with Mia, a sports celebrity, to promote Trein's products. E-presto Inc, a competitor of Trein, was interested in having Mia promote its products and knew of her contract with Trein. E-presto offered Mia a three-year, $5 million contract. Mia left Trein and signed with E-presto. Which statement is correct?
a. Trein is liable for tortious interference with a contract. b. Mia is liable for tortious interference with a contract. c. E-presto is liable for tortious interference with a contract. d. Both Mia and E-presto are liable for tortious interference with a contract.