Geraths Windows manufactures and sells custom storm windows for three season porches and also provides installation service for
the windows. The installation process does not involve changes in the windows, so this service can be performed by other vendors. Geraths enters into the following contract on July 1, 2014, with a local homeowner. The customer purchases windows for a price of $2,690 and chooses Geraths to do the installation. Geraths charges the same price for the windows irrespective of whether it does the installation or not. The price of the installation service is estimated to have a fair value of $590. The customer pays Geraths $2,300 (which equals the fair value of the windows, which have a cost of $1,700) upon delivery and the remaining balance upon installation of the windows. The windows are delivered on September 1, 2014, Geraths completes installation on October 15, 2014, and the customer pays the balance due. Prepare the journal entries for Geraths in 2014. (Round answers to 0 decimal places, e.g. 5,275.)
The correct answer is: managers should be given less autonomy to make personnel decisions such as hiring, appraising, and compensating subordinates.
Explanation:
The function of management consists of a series of resources that must be observed in order to achieve organizational goals, therefore it is allowed to delegate important functions such as personnel management to a person who in turn must be accountable; For this reason, management must engage in extremely important functions such as obtaining clients, establishing sales strategies, positioning, etc., while the people in charge of each department perform their functions according to the internal regulations of the organization and the other guidelines established in order to ensure that such resources are aligned and allow the achievement of organizational goals.
<span>In development of new
products, the most defined aspect is the processes. It takes a great deal of effort and time in
product creation in laboratories. Testing the feasibility of new product in
actual manufacturing environment. Trials are done to capture and document
actual procedures, machine specifications, safety requirement, and actual working parameters to achieve
the desired specification of the new product. </span>