The statement "If a balance exists in the temporary MOH account at the end of the period, it can be ignored for purposes of preparing the company’s financial statements" is False.
The manufacturing overhead (MOH) price is the sum of all the oblique expenses which can be incurred while producing a product. Its miles brought to the value of the very last product alongside the direct cloth and direct labor prices.
Manufacturing overhead is a cost listed below the cost of income, in this case, referred to as the price of products synthetic. It's far something of a trap-all term for the expenses needed to run the facilities to manufacture the business's products intended on the market.
Examples of MOH
- Electricity or gas is utilized in a manufacturing facility.
- Different utilities, inclusive of water and trash provider.
- Unexpected repairs.
- Supervisors or managers within the factory.
- Depreciation of a construction's value.
- Rent and assets taxes.
- Equipment depreciation.
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Answer:
d. transaction loss; $3,695
Explanation:
Calculations:
Today ¥110.58 can be exchanged by $1
<h3>US firm to pay today = 100,000,000/110.58 = 904322.66</h3>
US firm had to pay $904322.66 today.
US firm chooses to pay three months after the transaction and do not uses any hedging technique.
Three months later on settlement date ¥110.13 can be exchanged by $1, so less ¥ can be exchanged now than three months ago ( ¥110.58). Now US firm would incur transaction loss. Translation loss/gain occurs when balance sheet of a firm is converted from one currency to another.
<h3>US firm to pay 3 months later = 100000000/110.13 = 908017.79</h3>
US firm to pay $904322.66 three months later
<h3>Transaction gain/loss = $904322.66 - $908017.79 = -$3695.13 </h3>
So US firm incurs loss of $3695.13, rounded off to $3695
Answer:
Consists of goods being manufactured that are incomplete.
Consists of materials to be used in the production process.
Answer:
Banks are owned by shareholders, while credit unions are owned by members
Explanation:
Banks are financial institutions established by the founders to make profits. Due to their capital requirements, banks are large corporations owned by the private sector or government. Like other corporations, the owners of a bank are its shareholders.
Large organizations form credit unions to cater to their employees well being. Credit unions are not for profit organizations since they are formed to cater to its members' well beings. It means membership to the credit union is limited to the founding organization's employees unless otherwise stated. The members of the credit unions are its owners.
Answer:
b. cultural relativism
Explanation:
Cultural relativism refers to the ideology that what applies to current situation do not necessarily apply to another situation also.
As in the given instance the Shangrilah Sandals make grease payments in their own country as it is a developing country, but do not practice the same in another country called US as it is a developed country.
As the income of people in that country is high they do not believe in taking or accepting grease payments.
Thus, the correct option is:
b. cultural relativism
