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NEW QUESTION 29
A price that is competitive, gives the seller a profit, and allows the buyer ultimately to sell at a profit is known as:

  • A. Average price
  • B. Fair price
  • C. Impartial price
  • D. Actual price

Answer: B

 

NEW QUESTION 30
The time a job waits at a work center before being handled is called:

  • A. Wait time
  • B. Queue time
  • C. Linger time
  • D. Interval time

Answer: B

 

NEW QUESTION 31
If the cost of direct material is 60%, direct labor is 10%,and overhead is 25%of sales. How much to give the same increase in profit? (Remember overhead cost is constant)

  • A. 17%
  • B. 18%
  • C. 13%
  • D. 19%

Answer: A

 

NEW QUESTION 32
To satisfy the financial auditors that the inventory records represent the value of the inventory, this is the purpose of:

  • A. Physical inventory
  • B. Evolutionary inventory
  • C. Periodic inventory
  • D. Functional inventory

Answer: C

 

NEW QUESTION 33
When in a given period, actual demand will vary about the average demand, this is called:

  • A. Forecast variation
  • B. Fixed variation
  • C. Random variation
  • D. Possible average variation

Answer: C

 

NEW QUESTION 34
……

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