Which of the following is the first step in adapting a product to a foreign market?
A. determining ways in which the product can be modified
B. determining how new a product is to a market and how people react to newness
C. developing a successful product strategy
D. determining which physical attribute to modify to suit the local needs
E. developing a strategy to convey the benefits of the product to a consumer
Answer: B. determining how new a product is to a market and how people react to newness
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Ferrell, Inc used $213,000 of direct materials and incurred $111,000 of direct labor costs during the year
Indirect labor amounted to $8,100, while indirect materials used totaled $4,800. Other operating costs pertaining to the factory included utilities of $9,300; maintenance of $13,500; repairs of $5,400; depreciation of $23,700; and property taxes of $7,800. There was no beginning or ending finished goods inventory. The Work-in-Process Inventory account reflected a balance of $16,500 at the beginning of the period and $22,500 at the end of the period. Required: Prepare a schedule of cost of goods manufactured for Ferrell, Inc using the format below. Cost of Goods Manufactured Beginning Work-in-Process Inventory Direct Materials Used Direct Labor Manufacturing Overhead: Indirect Labor Used Indirect Materials Utilities Maintenance Repairs Depreciation Property Taxes Total Manufacturing Overhead Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Ending Work-in-Process Inventory Cost of Goods Manufactured What will be an ideal response
Which of the following statements pertaining to term insurance is CORRECT?
A) Nancy and Jennifer are the same age and have term policies of identical face amounts. Nancy's policy is renewable; Jennifer's policy is nonrenewable. Jennifer pays the higher premium. B) A term policy cannot be both renewable and convertible. C) Term insurance provides protection for only a temporary period. D) Jorge decides to exercise an option to renew his term insurance, but first he must pass a physical examination."