Although most organizations tend to devote considerable time and resources to the pro-cess of attracting new workers,a great many fall short by not putting enough emphasis on retaining the high-quality workers they currently employ.

The actor-observer effect refers to the remarkable similarity in the attributions that the actor and an observer make about the actor's behaviour.

Cienfuegos Corporation has provided the following data concerning last month's operations. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?

A) $157,000
B) $154,000
C) $161,000
D) $197,000

Suppose the Jamaican government sets coffee prices at $1 per pound when the market price is $10 per pound.The government's actions will:

A) improve efficiency since the low prices will force producers to find cheaper production methods.
B) result in coffee surpluses,even in a coffee-rich country.
C) cause coffee shortages,even in a coffee-rich country.
D) improve equality between rich and poor since the poor can now afford coffee.

Neuhaus Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product is as follows: During the year, the company completed the following transactions:a. Purchased 52,900 gallons of raw material at a price of $7.60 per gallon.b. Used 46,820 gallons of the raw material to produce 27,600 units of work in process.Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.
When the purchase of raw materials is recorded in transaction (a) above, which of the following entries will be made?

A) $5,290 in the Materials Price Variance column
B) ($5,290) in the Materials Price Variance column
C) $5,290 in the Materials Quantity Variance column
D) ($5,290) in the Materials Quantity Variance column

A competitive firm produces a single output using several inputs.The price of output rises by $4 per unit.The price of one of the inputs increases by $2 and the quantity of this input that the firm uses increases by 8 units.The prices of all other inputs stay unchanged.From the weak axiom of profit maximization we can tell that

A) the output of the good must have increased by at least 4 units.
B) the inputs of the other factors must have stayed constant.
C) the output of the good must have decreased by at least 2 units.
D) the inputs of at least one of the other factors must have decreased by at least 8 units.
E) the inputs of at least one of the other factors must have increased by at least 8 units.