Answer:
1. estimate the quantity of raw materials to be purchased.
2. ending raw materials inventory for the last period.
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.
The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
1. The purpose of preparing a direct materials budget is to estimate the quantity of raw materials to be purchased. This includes the raw materials that would be used for the manufacturing of finished goods.
2. In a direct materials budget, the desired ending raw materials inventory for the year is equal to the ending raw materials inventory for the last period.
Answer:
$ 464,120
Explanation:
Calculation to determine what The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:
Estimated overhead Rate = ( Estimated Fixed Manufacturing Overhead) / (Estimated Machine Hours )
Estimated overhead Rate = $ 492,000 / 30,000 hours
Estimated overhead Rate = $ 16.4 / hr
Total amount of overhead =Overhead Rate × Actual total machine-hours
Total amount of overhead = $ 16.4 / hr × 28,300 hours
Total amount of overhead= $ 464,120
Therefore The amount of manufacturing overhead that would have been applied to all jobs during the period is closest to:$ 464,120
Answer:
competition
Explanation:
In simple words, competition refers to the tendency of two or more parties to perform better than one another for the sake of own personal benefits. In business, competition can be done from various perspectives like price or quality.
In the given case, Jeff has been producing at a lower cost but despite of earning high profits he is willing to sell for lower prices with the motive of competing in the market and gaining higher market share.
Answer:
Selecting
Explanation:
The answer has been added into the question in this paragraph. It is in bold letters. Opportunity recognition is the process of identifying, <u>selecting</u>, and developing new venture opportunities.
when we talk about opportunity recognition we are talking about the ability to perceive new ideas, opportunities for a business or venture. as well as also being on the lookout for ways to improve. a person could just come up with new money making venture, or he could come up with ways to improve an existing venture.
Self-regulatory practice is like serving Lion 50gms of meat after 10 days without any protection.It will go for a kill and Government intervention is highly required. Buying consumer goods,land and property, corporation and technology and locomotive.It is for working class, middle class , lower middle class.
Explanation:
- Self-regulatory is related to one human mind taking decision.
- In psychology it was always proven each human behavior.
- Is to dominate the other human irrelevant of there kindness.
- Business run by single owner mostly dont pay suppliers, employees well.
- If government steps in policies could be balanced for all the people.
- Government works on decision by multiple people.It does not...
- Single mind taking a decision.Consumers are cheated most of the time.
- Regulators body taking steps to curb the owners of business.
- Example Ray kroc shuck hands with real owners of MC donalds that....
- He would give royalty on a yearly basis but there was no paper work.
- Of Government just a handshake they never got Royalty.