Which of the following is considered an example of a compliance audit?
A) The examination a company's claims that its product is superior to that of a competitor on specific dimensions.
B) The examination of a school district networked computer system.
C) The examination of a company's adherence to government-mandated safety provisions.
D) The examination of a company's financial statements.
Answer: C) The examination of a company's adherence to government-mandated safety provisions.
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The management of Vert Lawnmowers has calculated the following variances
Direct materials cost variance $8,000 U Direct materials efficiency variance 38,000 F Direct labor cost variance 17,000 F Direct labor efficiency variance 13,000 U Variable overhead cost variance 3,500 F Variable overhead efficiency variance 5,000 F Fixed overhead cost variance 3,000 F When determining the total production cost flexible budget variance, what is the total manufacturing overhead variance of the company? A) $5,000 F B) $8,500 F C) $3,000 F D) $11,500 F
Which of the following statements are true about flow manufacturing?
I. Work stations are located in the sequence needed to make the product. II. Work flows at a relatively constant rate. III. They can produce a wide variety of different products. IV. There is little buildup of inventory. A) I, III and IV are true. B) I, II and IV are true. C) II, III and IV are true. D) I, II, III and IV are true. E) I, II and III are true.