Periodic review policies require
A) more safety inventory than continuous review policies for the same level of product availability.
B) less safety inventory than continuous review policies for the same level of product availability.
C) the same safety inventory as continuous review policies for the same level of product availability.
D) no more safety inventory than continuous review policies for the same level of product availability.
Answer: A
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Indicate whether the statement is true or false.
Milar Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateDirect materials 7.7pounds$4.00per poundDirect labor 0.1hours$20.00per hourVariable overhead 0.1hours$4.00per hourIn January the company produced 2,000 units using 16,060 pounds of the direct material and 210 direct labor-hours. During the month, the company purchased 16,900 pounds of the direct material at a cost of $65,910. The actual direct labor cost was $4,473 and the actual variable overhead cost was $756.The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.The labor efficiency variance for January is:
A. $213 U B. $200 F C. $213 F D. $200 U
Ultimo Co. operates three production departments as profit centers. The following information is available for its most recent year. Department 1's contribution to overhead as a percent of sales is:
A) 52.5%
B) 20.0%
C) 35.7%
D) 30.0%
E) 57.1%