Answer: Job analysis
Explanation:
A job analysis generates:
•Information about the job and the individuals performing the job.
•Job description: tasks, responsibilities, working conditions, work activities, etc.
•Job specification: employee characteristics (abilities, skills, knowledge, tools, values, interests, etc.) needed to perform the job
•Performance standards.
Answer:
According to generally accepted accounting principles, inventoriable cost per unit of Big would be $17.00
Explanation:
Absorption Costing method is suitable for external reporting purposes and thus preferred in reporting According to the generally accepted accounting principles (GAAP)
Absorption Costing Includes Both Fixed and Variable <em>Manufacturing Overheads</em> in Product Costings Calculations
<u>Calculation of Inventory Cost per Unit According to Absorption Costing:</u>
Direct material 2.00
Direct labor 8.00
Variable Manufacturing Overhead 3.00
Fixed Manufacturing Overhead ($24,000/6,000) 4.00
Inventory Cost per Unit 17.00
Answer:
D) Markets allocate goods effectively.
Explanation:
The two main principles of capitalism are that individuals are rational and act according to their best self interest, and markets will allocate goods and service more efficiently than governments.
In this case, the stores ran out of batteries and flashlights due to a sudden increase in the demand, but since the stores make a profit by selling batteries and flashlights, they immediately replenished their stocks and were able to satisfy all the customers' needs.
If the stores would have needed government permission for replenishing their inventories, they would have never done it so fast and so efficiently.
Expensing the cost of copy paper when the paper is acquired is an example of .Cost constraint.
<h3>What is
Cost constraint?</h3>
A cost constraint in accounting occurs when it is excessively expensive to report specific information in the financial statements. The applicable accounting standards permit a reporting entity to forego the associated reporting where doing so would be prohibitively expensive. The purpose of enabling the cost constraint is to prevent firms from paying excessive expenditures to fulfill their financial reporting duties, especially when compared to the benefit received by readers of the financial statements.
Only certain requirements for financial reporting that are mentioned in the accounting standards are subject to the cost limitation. In all other instances, regardless of the underlying cost, financial information must be reported.
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