_____________: Any future cash inflow or outflow occurring only once

Fill in the blank(s) with the appropriate word(s).

Ans: Lump sum

Business

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Machine Builders Inc. adopted a standard cost system several years ago that it uses in conjunction with its process cost system. The per-unit standard costs for direct materials and direct labor for its single product are as follows:

Materials:(4.0 kilograms × $10.00 per kilogram)$40.00 Labor:(4.0 hours × $18.00 per hour)$72.00 All materials are issued at the beginning of processing. The operating data shown below were taken from the records for July: In-process beginning inventory none In-process ending inventory—90% complete as to labor 1,000unitsUnits completed during the month 7,200unitsBudgeted output 8,000unitsPurchases of materials, in kilograms (AQ) 30,000 Total actual labor costs incurred$525,000 Direct labor hours worked (AQ) 28,000hoursMaterials purchase-price variance$3,000unfavorableIncrease in materials inventory in July 1,500kilogramsBeginning inventory of materials 0kg. The actual total cost of direct materials used in production during July, to the nearest dollar, was:

Business

The difference between "lie" and "lay" is that "lie" is an intransitive verb and "lay" is a transitive verb

Indicate whether the statement is true or false.

Business