A Lumber Mill Bought a Shipment of Logs for $40,000

question 101

Multiple Choice

A lumber mill bought a shipment of logs for $40,000.When cut,the logs produced a million board feet of lumber in the following grades.Compute the cost to be allocated to Type 1 and Type 2 lumber,respectively,if the value basis is used. Type 1-400,000 bd.ft.priced to sell at $0.12 per bd.ft.
Type 2- 400,000 bd.ft.priced to sell at $0.06 per bd.ft.
Type 3- 200,000 bd.ft.priced to sell at $0.04 per bd.ft.

• A)$16,000;$16,000.
• B)$13,333;$4,444.
• C)$40,000;$24,000.
• D)$24,000;$12,000.
• E)$24,000;$8,000.

Learn about the purpose and importance of inter-item reliability and intercoder reliability.

Understand the concepts of Likert and semantic differential scales and their application in measuring human communication.

Know the significance of a "true" zero in ratio-level measurement.

Understand the importance of measurement scales in attempting to quantify abstract concepts.

---

Definitions:

Cross-docking

A logistics practice where incoming shipments are unloaded directly from supplier or manufacturing transport onto outbound trucks, trailers, or rail cars with minimal or no storage in between, reducing inventory holding times and costs.

Inventory Investment

The purchase of goods and materials that a company holds in anticipation of future sales, representing a significant part of its assets.

Radio Frequency Identification

A technology that uses electromagnetic fields to automatically identify and track tags attached to objects, containing electronically stored information.

Geographic Efficiency

Refers to the optimization of spatial distribution and location-specific strategies for businesses or services to maximize reach and minimize costs.