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4 years ago

What are the main elements necessary for ensuring that costs are appropriately charged?

1 answer:

4 0

The main element that is necessary for ensuring that cost are appropriately charged is that the communication is tracked and are monitored in means of having to check and ensure that there is no complications or misunderstandings that has been happened.

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Accrued Product Warranty Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 3% of s

Ksju [112]

Answer:

Warranty Expenses $6,330 (debit)

Provision of Warranty Expense $6,330 (credit)

Provision of Warranty Expense $240 (debit)

Raw Materials : Parts $170 (credit)

Labor $70 (credit)

Explanation:

Entry to record the warranty estimate for the year :

Hint : Recognize an Expense : Warranty Expenses and a Liability : Provision of Warranty Expense

Warranty Expenses $6,330 (debit)

Provision of Warranty Expense $6,330 (credit)

Warranty Expenses Calculation = $211,000 × 3% = $6,330

When customer received warranty cost

Hint : Utilize the Provision that had been previously recognized.

Provision of Warranty Expense $240 (debit)

Raw Materials : Parts $170 (credit)

Labor $70 (credit)

3 0

3 years ago

You're attempting to determine the amount of usable floor space in your day care facility. Which one of the following areas can

Serjik [45]

I believe the answer is d. I hope it was right and I helped!

4 0

3 years ago

Required information {The following information applies to the questions displayed below. At the beginning of Year 2, the Redd C

kolezko [41]

Answer:

Assets:

Cash 8200 - 520 - 5243 - 820 - 620 + 9016 = 10,013

Receivables 9200 - 9200 = 0

Inventory 2200 + 5700 + 520 - 350 - 107 - 6200 + 520 - 383 = 1900

Liabilities:

Accounts Payable 5700 - 350 - 5350 = 0

Common Stock 7700 = 7700

Explanation:

Redd Company has incurred multiple transactions which will require adjustments before financial statements are prepared. These transaction will have effects on both sides of the accounts assets and liabilities. Common stock is not affected by the transactions as this is equity section.

8 0

3 years ago

If the marginal propensity to consume is two thirds, then an increase in personal income taxes of $100 will most likely result i

rosijanka [135]

When personal income taxes is increased, there would be a decrease in consumption of $67.

The marginal propensity to consume is the proportion of the disposable income that is spent. When personal income taxes are increased, there would be a decrease in the disposable income. The decrease in disposable income would reduce the income avalialbe for consumption.

Decrease in consumption = 2/3 x $100 = $67

To learn more about marginal propensity to consume, please check: brainly.com/question/19089833

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4 0

2 years ago

4. Which of the following financial statements is the main tool for figuring out how much

kolezko [41]

A , cash flow statement !

6 0

3 years ago

Read 2 more answers