While JIT systems have many benefits, they
A. make the logistics function more complicated.
B. interfere with new product development functions.
C. decrease the accuracy of demand forecasts.
D. confuse customers.
E. work only in vertical marketing systems.
Answer: A
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Which of the following steps of the strategic-management process is the source of its feedback loop?
A. Carry out the strategic plan. B. Maintain strategic control. C. Establish the grand strategy. D. Establish the mission and vision. E. Formulate the strategic plans.
How much is the cost of goods manufactured?
Vermont State, Inc. used $153,000 of direct materials and incurred $63,000 of direct labor costs during the year. Indirect labor amounted to $270,000, while indirect materials used totaled $53,000. Other operating costs pertaining to the factory included utilities of $135,500; maintenance of $70,260; repairs of $53,400; depreciation of $133,000; and property taxes of $74,640. There was no beginning or ending finished goods inventory, but Work-in-Process inventory began the year with a $5000 balance and ended the year with a $7400 balance. A) $12,400 B) $1,003,400 C) $1,010,800 D) $1,005,800
Luxury, all-inclusive vacations cannot be characterized as specialty products
Indicate whether the statement is true or false
The following data relate to direct labor costs for February: Actual costs 7,700 hours at $14 Standard costs 7,000 hours at $15 What is the direct labor time variance?
A) $7,700 favorable B) $7,700 unfavorable C) $10,500 unfavorable D) $10,500 favorable