Determinants are useful in solving a set of simultaneous equations

The focal point in budgeting for a service organization is likely to be:

What will be an ideal response?

Answer the following statement(s) true (T) or false (F)

1. Duty is assigned to products only based on the country where the manufacturing is done. 2. A gross margin after markdowns around 50% is considered respectable. 3. Floor-ready product specs include the costs of hangers and hangtags in the cost of goods. 4. The profit and loss statement always contains the same basic components. 5. When a production facility uses the direct costing method, all of the operating expenses are added up and added to the price as a fixed amount. Their only variable costs are the materials and direct labor.