When the variance of a probability distribution is $360,000, the standard deviation equals:
A) $600
B) $3,600
C) $180,000
D) $12,000
A
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An understatement of ending inventory in a period will result in an understatement of gross margin in the next period
Indicate whether the statement is true or false
Perpetual inventory controlling accounts and subsidiary ledgers are maintained for materials, work in process, and finished goods in cost accounting systems
Indicate whether the statement is true or false
The American Footwear and Apparel Group exerts pressure on its members to comply with the ethical standards of the industry and provides information and benefits for textile companies. This company is an example of a(n)
A. regulatory agency. B. government agency. C. trade association. D. industry organization. E. membership club.
Bulluck Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateDirect materials 3.5grams$1.00per gramDirect labor 0.7hours$11.00per hourVariable overhead 0.7hours$2.00per hourThe company reported the following results concerning this product in July. Actual output 3,000unitsRaw materials used in production 11,370gramsActual direct labor-hours 1,910hoursPurchases of raw materials 12,100gramsActual price of raw materials purchased$1.20per gramActual direct labor rate$11.40per hourActual variable overhead rate$2.10per hourThe company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The variable overhead efficiency variance
for July is: A. $380 U B. $380 F C. $399 U D. $399 F