Answer:
Secondary Activities
Explanation:
Secondary activities inside an organization are those who support the primary activity. The primary activity consists in the production and distribution of goods and/or services to customers, while secondary activities are meant to improve aspects of the primary activity.
For example, the goal of human resources is to create good labor conditions so that employees are happier, and therefore, more productive. And the goal of the technology department is to engage in research to produce new goods or provide new services in the future.
The Roll up project budget method is used to cover cost changes for a project,
The roll up budget method is used to measure and identify the money inflow and outflow of the particular project. The roll-up budget is a technique that uses expertise to determine cost and productivity throughout the full life-cycle of projects.
The roll up budget method is also called continuous budgets. Based on the project, it is updated monthly or quarterly or annually. These budgets enlarge incrementally as time passes,
Rolling up the budget helps to achieve flexibility in their planning process plus decision-making,
This impact on changing market conditions, business disruptions, and unforeseen opportunities with greater liveliness.
Perform more effective performance management by re-aligning, spending and resource allocation at regular intervals to compete in the business environment and improve viable benefits.
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Answer:
The journal entries are made as follows;
Explanation:
March 2. Account Receivable-Mcleena Co. Dr.$800,000
Sales Revenue Cr.$800,000
Cost of Goods Sold Dr.$540,000
Inventory Cr.$540,000
March 6. Sales Revenue Dr.$140,000
A/R-Mcleena Co. Cr.$140,000
Inventory Dr.$94,000
Cost of Goods Sold Cr.$94,000
Answer:Please refer to the explanation section
Explanation:
The question is incomplete, amounts of production costs like Direct Material, direct labour and Variable/Fixed manufacturing overheard were not given, we will explain the absorption cost and variable cost in detail so that the student would be able to calculate absorption cost and variable cost balances easier.
Absorption costing Method
Total Manufacturing costs are allocated to Finished goods Product. Absorption Costing method assigns or allocates the total cost of Manufacturing or total production costs to units of Finished Goods produced. each unit of finished goods thus represents total costs of production per unit or Total Manufacturing/Production cost is the Balance of Finished Goods.
Total Manufacturing/Production cost = direct labor cost + direct material cost + variable and fixed Manufacturing overheads cost.
Finished Goods Balance = Total Manufacturing/Production cost
A unit of Finished Goods = Total Manufacturing costs/units produced
Variable costing method
Variable costing method fixed manufacturing costs are treated as an expense, Variable Manufacturing costs are the only allocated to inventory. The value or Balance of inventory consist of Variable Manufacturing cost like Direct labor, Direct Material and Variable Manufacturing costs. Finished Goods Balance equals total Variable Manufacturing cost
Answer:
Revenues are closed out to Equity (Retained Earnings) for Corporate.
Explanation:
Actually, for both Sole Proprietor and Corporate, the account that is closed out to Capital or Equity is the difference between the Revenue and the Expenses for the accounting period. This is more specifically referred to as Net Income. This is the bottom-line profit, which is available for distribution to the owners of the entity in the form of capital withdrawals for Sole Proprietorships and dividends for Corporate entities.
