Groups of related business activities such as the acquisition of merchandise and payment of vendors are called transaction cycles.
A transaction cycle is an interlocking set of business transactions. Most of those transactions may be aggregated into a comparatively small number of transaction cycles associated with the sale of products, payments to suppliers, payments to employees, and payments to lenders.
A transaction cycle is a set of accounting transaction that happens in a very normal sequence as an example a sales transaction is followed by shipping transaction, a billing transaction, and a cash receipts transaction.
Therefore, there are four transaction cycles which are the following:- Financial cycle, expenditure cycle, revenue cycle, conversion cycle.
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Tom is a First line manager. First line managers are
managers who are supervising the people who are in the manufacturing field,
example of first line managers are foreman and shift heads. Their role is
directly coordinate to the workers by assigning tasks, checking the quality of employees’
works, and giving heads up information to executive managers of the success and
problems that arise in the company.
Answer:
Could you be more clear!?
Explanation:
Answer:
The overhead application rate was: $0.20 per direct labor cost
Explanation:
The overhead application rate is used to apportion the factory overheads to jobs or departments
The overhead application rate = Budgeted Overheads / Budgeted Activity
= $6,000/$30,000
= $0.20 per direct labor cost
