To compute the ____________________, it is necessary to subtract the ending work in process inventory...
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Accounting
To compute the ____________________, it is necessary to subtract the ending work in process inventory from the sum of the beginning work in process inventory and the total manufacturing cost.
Multiple Choice
manufacturing overhead
cost of goods manufactured
cost of goods sold
gross profit
A fixed budget is a meaningful way to evaluate manufacturing performance if the activity level used for the budget is
Multiple Choice
more than actual.
less than actual.
similar to actual.
a reasonable/logical activity measure.
In a factory, the fixed costs per unit are $55 when 900 units are produced. If 1,000 units are produced, the fixed costs per unit would be
Multiple Choice
$18.18.
$55.00.
$61.11.
$49.50.
What is one difference between the current ratio and the acid-test ratio?
Multiple Choice
Only the current ratio includes the balance of the Cash account within one of the required figures.
The acid-test ratio is a more immediate measure of liquidity than the current ratio.
Current liabilities represent the numerator for one ratio and the denominator for the other ratio.
One is a liquidity ratio and one is a financial strength ratio.
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