Which of the following is NOT true about licensing? a. The license fee could be based on a percentage of final sales revenue of the product, or the number of units sold. b. Unscrupulous licensees have been known to manufacture licensed products and sell them under different brand names. c. When a product is licensed, the foreign partner will use the licensor’s patented technology as agreed to manufacture and sell products that meet the licensor’s standards. d. Licensing is the practice in which a company or individual provides the foreign partner with the technology to manufacture and sell products or services in a target country for an annual fee e. It involves slightly more risk to the licensee than licensor.

technology is the application of knowledge and tools to solve problems and perform tasks more efficiently. t/f

Elliott company produces large quantities of a standardized product. the following information is available for its production activities for march. units costs beginning work in process inventory 2,500 beginning work in process inventory started 25,000 direct materials $ 3,725 ending work in process inventory 5,000 conversion 11,580 $ 15,305 status of ending work in process inventory direct materials added 185,750 materials—percent complete 100 % direct labor added 182,375 conversion—percent complete 30 % overhead applied (140% of direct labor) 255,325 total costs to account for $ 638,755 ending work in process inventory $ 62,530 prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per eup, and its cost assignment and reconciliation. use the weighted-average method. (round "cost per eup" to 2 decimal places.)

The following are budgeted data: january february march sales in units 16,200 22,400 19,200 production in units 19,200 20,200 18,700 one pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 20% of the following month's production needs. purchases of raw materials for february would be budgeted to be: