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2 years ago

If a company produces many different products, it will develop a standard cost for each type of product. true false

Business

1 answer:

saveliy_v [14]2 years ago

4 0

True. A company will develop a standard cost for each product type if it produces many different products.

The process cost system should be used when manufacturing is efficient and continuous. This system's equivalent units method successfully represents the challenging problem of determining how much work the Work in Process entails.

Process costing explains how to use the concept of equivalent units to assign manufacturing costs to the units produced. Businesses may create and market various goods, or at the very least, multiple versions of the same product. Most of the time, manufactured goods are connected in terms of consumption or production. The firm's output and pricing decisions must consider the relationships between the items when they are related.

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After several United Airlines flights were canceled because of bad weather, reservation clerks had to scramble to get passengers

ivann1987 [24]

After several United Airlines flights were canceled because of bad weather, reservation clerks had to scramble to get passengers rerouted to their destinations on other flights and/or airlines. This is primarily an example of adaptive task performance. This is further explained below.

<h3>What is adaptive task performance.?</h3>

Generally, The capacity of a person to adjust to quickly changing work settings is what is meant by "adaptive performance." Problems can be solved imaginatively, ambiguity can be managed, new tasks can be learned, adaptation in interpersonal relationships can be shown, and emergencies can be handled. These are all aspects of adaptive performance.

In conclusion, Because of the inclement weather, numerous flights operated by United Airlines had to be canceled, and reservation clerks had to work quickly to rebook customers on other flights and/or airlines so that they could reach their final destinations. First and foremost, this is an illustration of adaptable task performance.

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4 0

1 year ago

Bryn, Cornell, and Duke are general partners in Equity Lending, a consumer credit, mortgage, and investment firm. Their agreemen

Viefleur [7K]

Answer:

C. The termination of the firm's legal existence.

Explanation:

General partners are individuals, two or more , who come together to own a business and controls daily activities of the business. Each member has unlimited liability and their action can legally bind the activities of the business. They share profit and losses equally.

According to fact pattern 27-3, if the partners agree to dissolve one of their business line- equity lending as in the case above and the company's assets are shared among the partners, it would result in the termination of the firm's legal existence.

Once there is a breach by any of the partners as contained in the partnership agreement and the partner's asset shared, that is dissolution. The partnership business has therefore been terminated legally and cease to exit.

3 0

3 years ago

Ian Burns is the new payroll accountant for ECG Marketing. Certain employees have been requesting changes in classification from

Nookie1986 [14]

Solution and explanation:

The Fair Labor Standards Act defines three tests that an employee must be eligible to be considered under the 'Exempt' category.

These include the following :

1.Salary Level Test : Employee must be paid minimum of $23,600 per year ($455 per week) to be considered Exempt.

2.Salary Basis Test : The representative must be paid on a Salary Basis, a fixed ensured least installment must be made for any workweek for the playing out any work. This would be dependent upon admissible and impermissible derivations that decide the premise of installment. Special cases to this standard are School educators, Lawyers, Doctors, and some others.

3.Duties Test : The actual jobs performed by the employee must be within the qualified exempt category of high level work. These are broadly classified as Executive, Professional; and Administrative job duties.

Thus, following out of the above will be considered for the purpose of classification to Exempt employees category:

- Reimbursement of board, lodging, facilities availed

Whether these form part of the compensation structure and the gross payments fall within the ambit of Levels test.

- Compensation such as discretionary bonus

These to be considered as part of Salary and to check whether the payments fall within the above stated levels and also the Basis of these payments whether on continuing salary or otherwise.

-Duties

The actual duties performed to be checked whether these fall within the exempt category.

Thus, the above stated three tests must be cumulatively passed in order to be eligible to classified as 'Exempt' Employee.

8 0

3 years ago

Selected financial information for Thornton Company for 2019 follows: Sales $ 2,000,000 Cost of goods sold 1,400,000 Merchandise

frutty [35]

Answer:

7.80 times

Explanation:

First of all we have to calculate the average inventory

Opening inventory= 159,000

Closing inventory= 200,000

Average inventory= (opening inventory+closing inventory)/2

= ( 159,000+200,000)/2

= 359,000/2

= 179,500

The next step is to find the merchandise inventory turnover which is calculated as

= Cost of goods/ Average inventory

Cost of goods= $1,400,000

Average inventory= 179,500

= 1,400,000/179,500

= 7.799 times

= 7.80 times (to 2 decimal places)

Hence the merchandise inventory was turned over 7.80 times in 2019

7 0

3 years ago

Read 2 more answers

Recently Tanveer switched jobs from a large firm to a medium-sized firm. As one of four project managers at the new firm, Tanvee

Dima020 [189]

Answer:

The correct answer is a) Esteem.

Explanation:

The pyramid of the Maslow hierarchy is based on five stages on the needs of people, which function as motivational factors for the individual; these are organized from those that must be satisfied first until reaching the peak of the pyramid.

Among Maslow's needs are:

Physiological needs.
Need for security.
Need for love and belonging.
Need for esteem.
Need for self realization.

In his theory, Maslow speaks that the needs are being filled from the bottom of the pyramid, which begins with the physiological needs, then progresses to reach the top of the pyramid to meet his need for self-realization. I also make it clear that the requirement should not be satisfied 100% to move on to the next one.

In this case, Tanveer needs importance for esteem. The need for esteem is divided into two: the first is self-esteem, where the need for independence and achievement are present; the second is the desire for reputation or respect of other people where prestige or status is related.

And for Tanveer, the respect and reputation of his employees in his new job are very important to him.

I hope this information can help you.

8 0

3 years ago