Consider the data on Inventory of Widgets Over a 10-Day Period. Any time that ending inventory falls to 15 or below, an order is placed for 20 units of the product. The lead time for delivery varies and is shown in the column under Lead Time. If the backorder costs are $10 per widget that is on backorder, what are the total backorder costs during the 10-day period?
A. $18
B. $0
C. $7
D. $22
B. $0
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Consolidation adjustments that are made to prepare consolidated financial statements of the parent and subsidiary are required in order to:
A. follow tax laws. B. eliminate transactions with third parties. C. avoid double counting. D. obey the state laws.
The "Work in Process" account:
a. indicates jobs that are half completed. b. indicates jobs that are ready to be sold. c. indicates jobs that are unfinished regardless of the stage of completion. d. is irrelevant in determining unit costs. e. None of the answers are correct.
The Wagner Act established all of the following principles in labor relations except:
A. Exclusive representation. B. Secret ballot elections. C. Unfair labor practices. D. Exclusive jurisdiction.
A nonpublic figure in a defamation case must prove the following except that:
A) The statement caused an injury to the plaintiff's reputation. B) The statement contained a factual assertion. C) The statement was communicated by the defendant to at least one person other than the plaintiff. D) The defendant knew the statement was false. E) There was an untrue statement.