Moreland Manufacturing Inc Moreland Manufacturing Inc produces and sells stainless steel faucets. In the current year, the company had budgeted for the production and sale of 6,000 faucets but, due to unexpected demand, 7,000 faucets were actually produced and sold. Each faucet has a standard requiring 15 ounces of direct material at a cost of $.40 per ounce and 15 minutes of assembly time at a
cost of $.20 per minute. Actual costs for the production of 7,000 faucets were $41,359.50 for materials (106,050 ounces purchased and used @ $.39 per ounce) and $21,560 for labor (98,000 minutes @ $.22 per minute). Refer to the Moreland Manufacturing Inc information above. Moreland's direct materials price variance is:
A) $1,050.00 F.
B) $1,050.00 U.
C) $1,060.50 F.
D) $1,060.50 U.
C
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Harold takes the Implicit Attitude Test (IAT). The first image is of a Caucasian male, and he quickly clicks on “positive” as an association. The next image is of an African- American male, and he also clicks on “positive,” but it takes him two seconds longer to do so. Based on these responses, the computer scoring would say Harold has ______.
a. no discernable bias toward either option b. a more positive association with African Americans than he does with Caucasians c. equally positive associations to both Caucasians and African Americans d. a more positive association with Caucasians than he does with African Americans
Business risk taking refers to the risk associated with entering untested markets or committing to unproven technologies.
Answer the following statement true (T) or false (F)
[The following information applies to the questions displayed below.] Scavenger Company, a manufacturer of recycling bins, began operations on January 1 of the current year. During this time, the company produced 60,000 units and sold 55,000 units at a sales price of $15 per unit. Cost information for this year is shown in the following table:Production costs Direct materials$2.50per unitDirect labor$3.00per unitVariable overhead$0.75per unitFixed overhead$240,000in totalNon-production costs Variable selling and administrative$10,000in totalFixed selling and administrative$50,000in totalGiven the Scavenger Company data, what is net income using variable costing?
A. $150,000 B. $181,250 C. $201,250 D. $276,250 E. $177,600
An employment contract contains a clause stipulating that the employer can terminate the
contract if the employer fails a drug test. This clause is an example of a: A) Condition subsequent. B) Covenant. C) Concurrent condition. D) Condition precedent.