All parties in the chain of distribution of a defective product are strictly liable for the injuries caused by that product.
Chain of distribution refers to everyone involved in a transaction of a product from the beginning stages to the end when the consumer has the product. Strict liability is a doctrine that states all parties in the chain of distribution of a defective product are liable for the damages caused by it.
Answer:
See below
Explanation:
Raw materials purchased is computed as;
Raw material purchase = Ending inventory + required for production - beginning inventory
= 50,000 + ((80,000 + 770,000 - 30,000) × 3) - 60,000
= 50,000 + 2,460,000 - 60,000
= 2,450,000 grams
Answer:
The activity base selected determines whether a cost behaves as a variable cost or fixed cost. This statement is true.
The correct answer is A.
Explanation:
Variable cost is a cost that fluctuates with respect to activity level while fixed cost is a cost that remains unchanged irrespective of activity level.
Thus, the activity base selected determines whether whether a cost is fixed or variable.
