We had it and lost it due to the concepts that people thought businesses had to much free reign to do what they wanted so the government started passing regulations de facto giving the freedom that businesses had and making it power for the government.
Answer: The managers of Kendall’s Home Decorators are making a projection for the future, also known as a <em><u>forecast.</u></em>
<em>Forecasting is know as the technique of predicting future supported on past and present event or data , commonly done by analyzing trends. </em>
<em>Here in this case the managers of Kendall’s Home Decorators are predicting the demand.</em>
<u><em>Therefore the correct option is (a)</em></u>
Isn't she an electrician? Please explain question more
<h3>Item 1:</h3>
Debit : Merchandise $13,888.
Credit : Accounts Payable $13,888.
<h3>Item 2:</h3>
Debit : Merchandise $560.
Credit : Accounts Payable $560.
<h3>Item 3:</h3>
Debit : Accounts Receivable $17,098.
Debit : Cost of Sales $11,536.
Credit : Sales Revenue $17,098.
Credit : Merchandise $11,536.
<h3>What is meant by inventory system?</h3>
- A supply chain's full stock, supplies, and sales are tracked using an inventory system.
- Businesses use inventory systems to make sure they are fully aware of the goods they have on hand and where they are.
<h3>What is inventory system with example?</h3>
- All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory.
- Example: Only the newspaper will be regarded as inventory if a newspaper vendor utilizes a vehicle to distribute newspapers to clients.
- The car will be considered an asset.
<h3>What is inventory system and methods?</h3>
- The procedures and software you employ to plan, order, store, and manage your inventory are known as inventory control methods.
- There are generally two types of inventory control manual and perpetual.
- You must routinely perform physical counts of inventory when using manual inventory control.
<h3>What is the purpose of inventory?</h3>
- Keeping a steady supply of goods on hand for activities is inventory's primary purpose.
- Your company should look for the sweet spot between too much and too little stock, without ever running out, in order to carry out this duty efficiently.
Learn more about inventory system here:
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Answer:
Period cost is Office rentals and Indirect material used
Explanation:
The reason is that the office rentals are not associated with the production and has much more association with the time. The passage of time increases the rental cost which means it is a period cost. Likewise, the indirect material cost incurred is also not associated with the production and has more association with the period. Example includes the safety material used in the warehouse or cleaning material used in the accounting department or production department means that the expense is period related.
Total Period cost = $29,000 Office rentals + $320,000 Indirect material
Total Period cost = $349,000
