Answer the following statements true (T) or false (F)
1. The Finished Goods Inventory account must be considered when calculating the amount of direct
materials to be purchased.
2. The Raw Materials Inventory account must be considered when calculating the amount of direct
materials to be purchased.
3. Budgeted purchases of direct materials is determined by adding direct materials needed for
production to the desired direct materials in ending inventory.
4. The production manager projects the average direct labor cost per hour.
5. The human resources manager projects the number of direct labor hours to be worked by employees.
1. FALSE
2. TRUE
3. FALSE
Budgeted purchases of direct materials is determined by adding the desired direct materials
in ending inventory to direct materials needed for production and then subtracting direct materials in
beginning inventory.
4. TRUE
5. FALSE
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Comparing and contrasting the diffusion of innovations in Western countries and in Asia, one can say that:
A) the process occurs in an identical manner in both regions. B) in Asia, the adoption process begins more slowly but ramps up more rapidly than it does in Western countries. C) in Western countries, the adoption process begins more slowly but ramps up more rapidly than it does in Asia. D) the diffusion of innovation framework is applicable in the West but not in Asia. E) the diffusion of innovation framework is applicable in Asia but not in the West.
Which of the following types of teams is created outside the formal organization structure to undertake a project of importance or creativity?
A. Vertical B. Command C. Special-purpose D. Cross-functional E. Functional
W. Edwards Deming set out 14 points in his definition of quality in the firm. Many of these points are related to ethical concepts. All of the following form part of the definition except ______.
a. Drive out fear b. Eliminate quotas c. Maintain staff barriers d. Institute training
Which of the following statements about a bond that is selling at a discount is correct?
A. Because the coupon rate remains constant, the market value of the bond also remains constant throughout its life. B. The market price of the bond will be greater than the bond's face value. C. The market price of the bond will increase and will approach its face value as the maturity date gets closer. D. Both the market price of the bond and the interest received will increase as the maturity date nears. E. The par value of the bond will increase with every increase in the market price of the bond until the maturity date is reached.