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3 years ago

The contrast error is committed when the rates rate people:

Business

1 answer:

serious [3.7K]3 years ago

5 0

Answer:

d) relative to others instead of against performance standards.

Explanation:

Contrast error is one that occurs during performance rating where a person is not rated objectively, but against previous people who performed good or badly.

The person's ratings is affected negatively or positively.

A person that performs well subconsciously sets a benchmark in the mind of the rater, and he now rates future participants based on this benchmark and not on performance standards that have been set.

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A company reports the following information for the year: Net credit sales $ 120,000 Average accounts receivable 20,000 Cash col

Alborosie

Answer:

receivable turnover ration = 6

Explanation:

credit sales = 120000

Credit sales =As we know that: Receivables turnover ration = Net credit sales /Average account receivable.

= 120000/ 20000

= 6.

it indicates that company convert its receivable to cash 6 times that year.

7 0

4 years ago

The Azuza Company owns no plant assets and had the following income statement for the year:

Nutka1998 [239]

Answer:Please see answer below

Explanation:

Solving

Net income= $16,000

Change in asset and liabilities

Accounts receivable Increased $67,000- $59,000 =- -8000

Inventory Decreased 62,000- 86,000=24,000

Prepaid rent --Increased 9,000- 7,000 = -2000

Accounts payable ---decreased 22,000 -30,000 = -8000

Wages payable ----Increased 9,000- 7,000=2000

Net cash provided by operating activity.=24,000+ 2000-(8000+2000+8000)

= $24,000

Net income= $16,000

Change in asset and liabilities

Accounts receivable--Increase -$8,000

Inventory--Decreased-- $24,000

Prepaid rent --Increased -$2,000

Accounts payable ---decreased-$8,000

Wages payable ----Increased $2,000

Net cash provided by operating activities,= $24,000

6 0

3 years ago

Majestic Corporation manufactures wheel barrows and uses budgeted machine hours to allocate variable manufacturing overhead. The

andre [41]

Answer:

$409185

Explanation:

Given: Budgeted output units: 28,475 units

Budgeted machine-hours: 17,085 hours

Budgeted variable manufacturing overhead costs for 28,475 units: $358,785

Actual output units produced: 32,475 units

Actual machine-hours used: 15,000 hours

Actual variable manufacturing overhead costs: $384,060.

First, we will find Budgeted machine hour per unit produced.

Budgeted machine hour per unit produced= $\frac{Budgeted\ machine\ hour}{Budgeted\ units}$

⇒ $Budgeted machine hour per unit produced= 17085\div 28475= 0.6$

∴Budgeted machine hour per unit produced= 0.6

Budgeted machine hours allowed for 32475 units= $32475\times 0.6= 19485$

Budgeted variable overhead rate per machine hour= $\textrm {Budgeted variable manufacturing overhead costs}\div Budgeted\ machine\ hours$

Budgeted variable overhead rate per machine hour= $358785\div 17085= \$ 21$

Now, lets find out flexible budget amount.

Flexible budget amount= $\textrm{Budgeted machine hours allowed}\times \textrm{Budgeted variable overhead rate}$

Flexible budget amount= $19485\times \$ 21= \$ 409185$

∴Flexible budget amount for variable manufacturing overhead= $409185

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4 years ago

The following transactions were completed by the company. The company completed consulting work for a client and immediately col

Burka [1]

Answer:

See explanation Section

Explanation:

See the image to get the appropriate answer.

7 0

4 years ago

Which statement BEST reflects an accurate and negative consequence of government regulatory practice on the economy?

zhenek [66]

Answer: it’s D

Explanation:

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3 years ago

Read 2 more answers