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2 years ago

Within the organization, the use of formal committees, training, and codes of conduct help to ensure standards of

1 answer:

iogann1982 [59]2 years ago

4 0

Within the organization, the use of formal committees, training, and codes of conduct help to ensure standards of ethical compliance.

<h3>What is ethical compliance?</h3>

Ethical compliance is the ability of an individual or employee to act according to companies code of conduct.

Trainings are usually conducted for newly recruited employee.

Therefore, Within the organization, the use of formal committees, training, and codes of conduct help to ensure standards of ethical compliance.

Learn more on ethical compliance below

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The Physical Inventory Worksheet is used when: Multiple Choice inventory items are physically placed in the warehouse All of the

maw [93]

Answer:

taking a physical count of inventory on hand

Explanation:

The Physical Inventory Worksheet is used when taking a physical count of inventory on hand. This is the only way to tell how many items are really available for sale and allows a business to do it efficiently. An example would be counting the number of steaks the restaurant has on hand on a Saturday afternoon. This also allows the business to analyze the expected sales with the actual inventory in order to determine whether or not they need more.

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4 years ago

Generic Motors is a manufacturing firm. Its beginning inventory of materials was $1,000, purchases of materials $20,000, ending

Hoochie [10]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Direct material:

beginning inventory= $1,000

purchases= $20,000

ending inventory= $1,500.

beginning inventory of work-in-process (WIP) was $5,000

ending inventory of WIP was $6,700.

Its cost of direct labor was $12,000, manufacturing overhead $11,000.

Its beginning inventory of finished goods was $3,000, the ending inventory of finished goods was $1,300.

A) Direct material used= beginning inventory + purchases - ending inventory

DM used= 1,000 + 20,000 - 1,500= 19,500

B) cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 5,000 + 19,500 + 12,000 + 11,000 - 6,700= $40,800

C) COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 3,000 + 40,800 - 1,300= $42,500

3 0

3 years ago

During its first year of operations, Drone Zone Corporation (DZC) bought goods from a manufacturer on account at a cost of $56,0

ziro4ka [17]

Answer:

Inventory 56,000 debit

Accounts payable 56,000 credit

Accounts payable 8,600 debit

inventory 8,600 credit

Accounts receivable 70,600 debit

service revenues 70,600 credit

Cost of Goods Sold 44,000 debit

Inventory 44,000 credit

sales returns&allwoance 7,400 debit

Accounts receivable 7,400 credit

Inventory 4,600 debit

Cost of goods sold 4,600 credit

sales returns&allwoance 9,610 debit

Allowance for sales returns 9,610 debit

Explanation:

most are self-explanatory

For the returns we decrease teh accounts receivables and use sales retuns and allowance to latter calcualte net sales.

Next we decrease COGS for the amount of inventory which can be resale.

The last one, we need to decrease the accounts receivables for the expected amount customer will return so we use an allowance account rather than directly decrease accounts receivables. This is the same procedure like expected uncollectible ammounts

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3 years ago

Miller Mining, a calendar-year corporation, purchased the rights to a copper mine on July 1, Year 1. Of the total purchase price

dybincka [34]

Answer: <u>$4,500</u>

Explanation:

Equipment was purchased for $76,000.

It has an estimated useful life of 8 years.

It will be sold for $4,000 after these 8 years so that is the salvage value.

With these figures depreciation per annum is calculated with the following formula;

$Depreciation per annum = \frac{Cost of Asset - Salvage Value}{Useful life}$

= $\frac{76,000 - 4,000}{8}$

= $9,000

The Equipment was purchased on July 1, Year 1. In Year 1 therefore it will only be in use for half the year and this is what it should b depreciated in light of.

Semi-annual Depreciation = 9,000/2

= <u>$4,500</u>

7 0

3 years ago

Mike Klein lives in a state with an income tax rate of

ira [324]

The answer is 15.989 (15.99 rounded up).

456.85*3.5=1598.975

1598.975/100=15.98975

6 0

1 year ago