QUESTION 37 Randall Company manufactures chocolate bars. The following were among Randall's manufacturing costs during the current year. Wages Machine operators $300,000 Factory supervisor $50,000 Selling & Administrative personnel $75,000 Materials Used Lubricant for oiling machinery $ 25,000 Cocoa, sugar & other raw materials $225,000 Packaging materials $190,000 Randall's direct labor costs amounted to: $400,000 $350,000 $300,000 $375,000 QUESTION 16 Select the correct statement regarding variable costs variable costs change with the economic environment and should not be considered in decision making variable cost per unit remains constant when activity increases variable cost per unit increases when activity increases Total variable cost will always remain constant QUESTION 27 Which of the following statements is false regarding a line of credit: business frequently used lines of credit to meet fluctuating borrowing needs lines of credit are normally short term Interest rates are normally fixed rates all of the above are true QUESTION 17 The state approves the maximum number of shares of stock a Corporation is legally permitted to issue they are called outstanding stock. True False