The U.S. government awards for quality achievement are called the Malcolm Baldrige National Quality Awards
Indicate whether the statement is true or false
TRUE
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A company increased the selling price for its product from $1.00 to $1.20 a unit when total fixed costs increased from $400,00 . to $450,00 . and variable cost per unit remained unchanged. How would these changes affect the break-even point?
a. The break-even point in units would be increased. b. The break-even point in units would be decreased. c. The break-even point in units would remain unchanged. d. The effect cannot be determined from the information given.
Valerie was very angry at her soon to be exhusband and when she found his expensive sports car at his girlfriend's home she rammed into it with her pickup truck. Will her insurance policy cover the damage to her vehicle?
A) Yes, she has full coverage. B) No, one of the exclusions on her policy says it will not cover if the damage was intentional.
Neuhaus Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows:InputsStandard Quantityor HoursStandard Priceor RateStandard CostDirect materials1.7gallons$7.50per gallon$12.75Direct labor0.70hours$21.50per hour 15.05Fixed manufacturing overhead0.70hours$6.00per hour 4.20Total standard cost per unit $32.00During the year, the company completed the following transactions:a. Purchased 52,900 gallons of raw material at a price of $7.60 per gallon.b. Used 46,820 gallons of the raw material to produce 27,600 units of
work in process.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)?1/1$1,160,000$45,900$0$67,200$757,400=a.?????=b.?????=?Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$0$0$2,030,500a.???????b.???????When recording the raw materials purchases in transaction (a) above, the Raw Materials inventory account will increase (decrease) by: A. $402,040 B. $396,750 C. ($396,750) D. ($402,040)
Which of the following is not a part of the Clean Water Act:
a. a national effluent standard set by EPA for industries b. state water quality standards approved by EPA c. water pollution standards based on evidence of harm to humans and aquatic species d. construction of more publicly owned treatment works e. all of the other choices are part of the Act