Answer:
False
Explanation:
Master Production Schedule, is used to determine when the materials will be used to produce an item.
Master Production Schedule (MPS) gives a formal detail of the production plan and converts this plan into specific material and capacity requirements. The requirements with respect to labor, material and equipment are then assessed.
Master production scheduling helps keep customer delivery promises through delivering in a timely and cost-effective manner.
Answer:
- The adjustment causes an increase in an asset account and an increase in a revenue account.
- Accounts receivable is usually increased when accruing revenues.
- They refer to revenues that are earned in a period, but have not been received and are unrecorded.
- They refer to earnings which have been earned but not yet billed.
Explanation:
Accrued revenue refers to cash earned for selling a good or delivering a service yet the cash has not been received and the transaction was not recorded in the books as revenue. This means that the cash has been earned but it has not been billed to the customer it was earned from.
When the books are being adjusted for this, the accounts receivable - which is an asset account - will increase to show that cash is owed. Revenue will also increase as this was cash earned from delivering a good or service.
Answer:
market share
Explanation:
The market share of a product or business is the portion of the total market that it controls. Market share is usually measured as a percentage of the total market's sales. To calculate market share you need to divide your product's total sales by the market's total sales.
In this case, for every $100 sold by the total coffee market in San Francisco, BruceCo sells $1.
Answer:
Cost of good manufactured= $50000
Explanation:
Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in a reporting period.
Generally accepted accounting principles require that the cost of goods sold shall consist of:
the cost of direct materials
the cost of direct labor
the cost of manufacturing overhead
<u>Expenses that are outside of the manufacturing facilities, such as selling, general and administrative expenses, are not product costs. </u>They are reported as expenses on the income statement in the accounting period in which they occur.
In this exercise:
<u>Cost of goods manufactured:</u>
Direct materials= $15000
Direct Labor=$30000
Factory overhead=$5000
Total= $50000
