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MrRa [10]
4 years ago
11

Kayleigh is looking over a number of material requisition slips from her employees. She has to sign off on each request after re

viewing it, which she thinks is a waste of time and effort. Kayleigh believes that having the name of the employee who requested the materials should be enough. Is she correct?A :Yes, it is an extra step and a waste of time; this could be eliminated to allow each requestor to be responsible.B :No, approval by an individual other than the requestor establishes greater accountability over inventory.C :Yes, most companies allow the responsibility to rest with the requestor and the receiver of the material requisition slip.
D :No, having one person approve of all inventory works to reduce inventory cost as well as lost request forms.
Business
1 answer:
dedylja [7]4 years ago
3 0

Answer:

B. No, approval by an individual other than the requestor establishes greater accountability over inventory.

Explanation:

This step is required as it will ensure control over inventory usage.

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Suppose the current market price of corn is $3.75 per bushel. Your firm has a technology that can convert 1 bushel of corn to 3
Aleks04 [339]

Answer:

At 1.783 or more, the conversion yield better gain than sales the corn

Explanation:

The ethanol conversion become attractive if the cost for doing the conversion are lower than the sale revenue for the product.

<u>total cost: raw materials + conversion cost</u>

corn price:           $  3.75

conversion cost:  $  1.60

Total cost:            $  5.35

<u>output: gallon of ethanol per bushel</u>

3 gallons of ethanol per bushel

total cost / output = 5.35/3 = 1.783 cost per gallon

5 0
4 years ago
On January 1, a company purchased a five-year insurance policy for $3,300 with coverage starting immediately. If the purchase wa
marissa [1.9K]

Answer:

a. Debit Insurance Expense. $660, credit Prepaid Insurance, $660.

Explanation:

The adjusting entry is shown below:

Insurance expense Dr $660 ($3,300 ÷ 5 years)

          To Prepaid insurance

(Being the insurance expense is recorded)

here we debited the insurance expense as it increased the expense and credited the prepaid insurance as it decreased the assets

Therefore the option a is correct

7 0
3 years ago
A company purchases land and a building for $300,000. The appraisal attributes a fair market value (FMV) to the land of $180,000
ser-zykov [4K]
$700,000 I hope that helps
5 0
3 years ago
Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on
AlladinOne [14]

Answer:

Saddle Inc.

1. Overhead rate using the traditional (plantwide) approach is:

= $1.84

2. The overhead rates using activity-based costing approach are:

Machining = $72.49

Machine setup = $211.69

3. The difference in allocation between the two approaches:

Differences:

ABC approach        $121,808   $178,188   $299,996

Using plantwide     $110,400  $189,520  $299,920

Differences              $11,408    -$11,332             $76

Explanation:

a) Data and Calculations:

Total estimated overhead costs = $300,000

Machining activity = $195,000

Machine setup activity = $105,000

                             Standard   Custom     Total

Direct labor costs $60,000 $103,000  $163,000

Machine hours           1,400        1,290       2,690

Setup hours                    96          400          496

Overhead rate based on direct labor costs = $1.84 ($300,000/163,000)

Overhead rates using activity-based costing approach:

Machining = $72.49 ($195,000/2,690)

Machine setup = $211.69 ($105,000/496)

Allocation of overhead costs:

                                 Standard   Custom         Total

Using plantwide       $110,400  $189,520  $299,920

Using ABC:

Machining                $101,486    $93,512    $194,998

Machine setup           20,322      84,676      104,998

Total costs               $121,808   $178,188   $299,996

Differences:

ABC approach        $121,808   $178,188   $299,996

Using plantwide     $110,400  $189,520  $299,920

Differences               $11,408    -$11,332            $76

6 0
3 years ago
Suppose the economy is in a liquidity trap. True or false. A monetary contraction will not have any effect on the nominal intere
swat32

Answer:

False

Explanation:

When a country is in a liquidity trap , monetary policy both contractionary and expansionary would have an effect on interest rate

8 0
3 years ago
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