What does the phrase "Revenue is recognized at the point of sale" mean? a. Revenue is recorded in the accounting records when the goods are received from a supplier and reported on the income statement when sold to the customer. b. Revenue is recorded in the accounting records when the goods are sold to a customer and reported on the income statement when the cash payment is received from the customer. c. Revenue is recorded in the accounting records and reported on the income statement when goods are sold and delivered to a customer. d. Revenue is recorded in the accounting records and reported on the income statement when the cash is received from the customer.

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time

Match the various steps in the creative process undertaken by the ad agency for developing the campaign for wpu, to the steps in young's model of the creative process. creative process in developing wpu's campaignyoung's modelafter intensive analysis of the data and several rounds of brainstorming, the agency executives decided to take a break from this project (the wpu campaign), and instead work on a different client's project before tackling the wpu project again. using a combination of animatics and storyboards, the ad agency conducted research with a representative sample of sixty target consumers to pretest the campaign theme and the creative execution. during a brainstorming session in the creative department, a copywriter's suggestion for a slogan for wpu was recognized as an excellent central idea that could drive the campaign for wpu. the account planning, account management and creative departments at the ad agency had a series of meetings and brainstorming sessions to discuss the creative brief and the results of all the primary and secondary research done with the target consumers. the account planning and the account management groups at the ad agency conducted primary research with a representative sample of the target segment and also studied secondary research data to gain insights required for the campaign development process.

At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58