The following are costs for a selected period: direct materials used in production, $75,000; direct labor cost of converting materials into product, $150,000; total indirect costs of manufacturing, $45,000. What is the unit cost of manufacturing 30,000 units in this period?
A) $7.50
B) $9.00
C) $6.00
D) $4.00
B
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What is the primary MPR purpose for a firm that sponsors a local marathon and requires employees to serve as volunteers at the event?
A) raising national interest in the local community B) providing media kits and takeaways to race participants C) testing the firm's new marketing campaign D) promoting healthy lifestyles choices within the community E) establishing personal contact between the firm and the community
The cost of a manufactured product generally consists of which of the following costs?
A) Direct materials cost and factory overhead cost B) Direct labor cost and factory overhead cost C) Direct labor cost, direct materials cost, and factory overhead cost D) Direct materials cost and direct labor cost
In a just-in-time system, processing functions are combined into work centers, sometimes called departments
Indicate whether the statement is true or false
A good system of internal controls:
a. depends on the competency of the people enforcing it. b. can never, by itself, provide absolute assurance that all fraud will be prevented. c. needs to be monitored and tested to ensure its accuracy. d. All of the choices are true of a good system of internal controls.