The financial management practices which are least effective in creating and monitoring an operating budget include top down/bottom up budgets, poor inventorying, lack of control, over control, and lack of staff investment.
In business, financial management includes the practice of making a business plan and then ensuring that all departments which falls under it stay on track and work properly.
Creating and monitoring an operating budget for the national government involves four distinct processes which are, budget preparation, budget authorization, budget execution and accountability.
Hence, the operating budget helps in keeping track of the income and expenses in an organization.
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Answer:
The computation is shown below:
Explanation:
a. The company overhead rate based on direct labor is
= Total Overheads ÷ Direct Labor Hours
= $1,048,000 ÷ 40,000
= $26.2 per hour
b) Overheads Rate using Activity Based Costing is
= Cost ÷ Activity level
For Order Processing, it is
= $226,800 ÷ 14,000 orders
= $16.2 per order
For setups, it is
= $157850 ÷ 4,100 setup
= $38.5 per setup
For Milling, it is
= $395,850 ÷ 20,300 machine hours
= $19.5 per machine hour
For Shipping
= $267,500 ÷ 25,000
= $10.7 per shipment
We simply applied the above formula so that the per unit could come
Answer:
The correct answer is letter "C": propitious niche.
Explanation:
Companies develop strategies to set the steps necessary to accomplish an objective. One of those steps involves finding the firm's propitious niche which is no more than its target market. It determines what the company should do based on the best competitive advantage the firm will have in that market that will differentiate the company from competitors and will help the firm to establish in the market.
Answer:
B. Profit / Economic
Explanation:
The triple bottom line addresses three factors that a socially responsible company must adhere to. The People / Social factor discusses the importance of the social needs of the customers which the customer must fulfill. The Planet / Environment factors are the factors that discusses about the responsiblity of the company to manufacture environmental friendly products that do not harm the environment and is sustainable. The Profit / Economic factor is one of the three factor which company must try to earn profit to keep the business running and thus benefits by earning profit to a lot of stakeholders.
The quality product is a reason why the customer prefer the company's product which helps the company in making profit. So the profit / economic factor is the right option.
