Skills referred to the ability to understand the relationship of parts to the whole

Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each div

PIT_PIT [208]

Answer:

OPTIMUS COMPANY

Home Division Responsibility Report For the Year Ended December 31, 2020

The report is attached in form of a variance report with comments. Where the variance is not indicated, it means that it was neither favorable nor unfavorable.

Explanation:

A responsibility report is usually presented by a division that is an investment center. An investment center has responsibility for return on investments.

The investment center takes charge of the cost, revenue, profit, and investments of the division. It is expected to produce returns on its investment that will be favorable to the shareholders of the company. It is directly responsible for profitability of the division vis-a-vis the capital investments made in the center. It is unlike other divisions like cost center, revenue center, and profit center, which narrowly report their performances in accordance with their responsibilities.

This is why it does not only report on the cost, but also the revenue, the profit and the returns on investment achieved during a period. An investment center is, therefore, the largest division of an entity.

Download xlsx

3 0

2 years ago

Roget Factory has budgeted factory overhead for the year at $15,500,000. It plans to produce 2,000,000 units of product. Budgete

yawa3891 [41]

Answer:

$14,76

Explanation:

Using a single plantwide factory overhead rate based on direct labor hours, the factory overhead rate for the year is $14,76.

6 0

3 years ago

Beginning inventory Merchandise $302,000 Finished goods $604,000 Cost of purchases 420,000 Cost of goods manufactured 760,000 En

trapecia [35]

Answer:

A. $520,000

B. $1,168,000

Explanation:

Computation to determine the cost of goods sold for each of these two companies for the year ended December 31, 2017.

a. UNIMART Partial income statement

For the year ended December 31,2017

COST OF GOODS SOLD

Beginning merchandise inventory $302,000

Cost of purchase $420,000

Goods available for sale $722,000

Less; Ending merchandise inventory ($202,000)

Cost of goods sold $520,000

b) PRECISION Manufacturing

Partial income statement

For the year ended December 31,2017

COST OF GOODS SOLD

Beginning finished goods inventory $604,000

Cost of manufactured $760,000

Goods available for sale $1,364,000

Less; Ending finished goods inventory ($196,000)

Cost of goods sold $1,168,000

Therefore the cost of goods sold for each of these two companies for the year ended December 31, 2017 will be:

Unimart $520,000

Precision $1,168,000

7 0

3 years ago

a. Create the most efficient way to move products from producer to consumer b. Create a network of suppliers, intermediaries and

schepotkina [342]

Answer:

a. producers-wholesalers-retailers-consume

b.

Explanation:

it is easy to cut cost of transport, storage ,etc

8 0

2 years ago

Milano Gallery purchases the copyright on a painting for $420,000 on January 1. The copyright is good for 10 more years. The com

alex41 [277]

Answer:

Explanation:

The journal entries are shown below:

On January 1

Copyright A/c Dr $420,000

To Cash A/c $420,000

(Being copyright is purchased)

On December 31

Amortization A/c Dr $42,000

To Accumulated amortization A/c $42,000

(Being annual amortization is recorded)

The computation is shown below:

= Purchase value of copyright ÷ number of goods years

= $420,000 ÷ 10 years

= $42,000

6 0

2 years ago