Answer:
(a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?
- supply balance January 31 + supplies expense - purchases = $700 + $950 - $850 = <u>$800</u>
(b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
- Insurance expense per month = $400 x 12 months = $4,800, beginning balance prepaid insurance January 1 = $2,800. This means that the insurance policy was purchased ($4,800 - $2,800) / $400 = 5 months before, this means it was purchased in <u>August, 2016</u>.
(c) If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable on December 31, 2016?
- wages payable on December 31, 2016 = salaries expenses + wages payable balance January 31, - paid salaries = $1,800 + $800 - $2,500 = <u>$100</u>
(d) If $1,600 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2016?
- unearned service revenue on December 31, 2016 = cash received for providing services - service revenue + unearned service revenue balance January 31 = $1,600 - $2,000 + $750 = <u>$350</u>
Answer:
Yes.
Explanation:
The company currently has HR units, fiscal units, and purchasing units at each plant. This can be costly for the company since all these units incur cost and have to be paid for separately.
By centralizing the operations, that is, bringing these functions together in one location, Corey will need fewer employees. Hence, he shall be able to save costs by having to pay lower salaries. Moreover, there shall be greater consistency as work across various plants shall not be done by the same employees.
Although the costs of travel shall increase for the company, the cost savings in the form of lower salaries should definitely outweigh this increase.
Answer:
The correct answer is A. a PI project may be appropiate.
Explanation:
Benchmarking is a continuous and systematic process that makes a comparative evaluation of products or services in organizations that show best practices in a given area, with the aim of transferring knowledge of best practices and their application.
Benchmarking should not be confused with espionage or competition, so the concepts of best practices and area of interest should be very clear. In this sense, for the organization it becomes an appropriate process, since it allows you to know to what extent it may be convenient to consider the actions against the established norm.
<u>Given:</u>
Annual demand = 410 units
Ordering cost = $41
Holding cost = $5 unit per year
<u>To find:</u>
Number of units to be ordered each time an order is placed
<u>Solution:</u>
On calculating the number of units,

Therefore, to minimize the total cost, approximately 77 units should be ordered each time an order is placed.