The resources-based view (RBV) takes the approach that a firm's resources are more important than industry structure in getting and keeping competitive advantage

ALT had $25 million in sales last year. Its cost of goods sold was $15 million and its average inventory balance was $3 million. What was its average days of inventory?

A) 43.8 days B) 36.5 days C) 73.0 days D) 9.1 days

If actual direct labor cost was $7,560 and standard labor cost was $7,000, the journal entry to record this would include:

A. A credit to the labor rate variance account of $560 and a credit to Direct Labor of $7,000. B. A debit to the labor rate variance account of $560 and a debit to Direct Labor of $7,000. C. A credit to the labor rate variance account of $560 and a debit to Direct Labor of $7,560. D. A debit to the labor rate variance account of $560 and a credit to Direct Labor of $7,560.