Answer:
d. Work in Process Inventory and Factory Overhead.
Explanation:
Direct labor is labor that is directly involved in the production process, for example a machine operator in a factory is supplying direct labor. So when recording direct labor we do so under work in process inventory as that is where the labour is applied.
Indirect labour is one that is not directly involved in the production process, for example office cleaners, building maintenance. Since their contribution is not directly impacting production, indirect labor is recorded under factory overhead.
Laissez-Faire Economics?
It's an economic system where the free market exists without government intervention.
Answer:
Global Marketing
Explanation:
Based on this scenario, it seems that Yum! Brands is currently in the Global Marketing stage. In this, they decide on the best way to market their product/services in such a way that will maximize their reach as well as their profits Globally. These decisions are made so that their marketing is efficient in various geographic locations without having to specifically target different marketing campaigns in each location. All of which is created and controlled from within the company's home market.
Answer:
The adjusting entry on December 31 of the current year for Plum would include:
E) A debit to an expense and a credit to a prepaid expense for $1,875.
Explanation:
On July 1 of the current calendar year, Plum Co. paid $7,500 cash for management services to be performed over a two-year period beginning July 1.
Management services fee per month = $7,500/24 = $312.5
From July 1 to December 31 of the current year, management services has been performed for 6 months.
The amount of Management services expense should be record:
$312.5 x 6 = $1,875
The adjusting entry:
Debit Management services expense $1,875
Credit Prepaid expense $1,875
Answer:
The accounts receivables turnover ratio is 12.5 times.
Explanation:
The accounts receivable turnover ratio is a measure to check the efficiency of the business in collecting its average accounts receivables during the year. It is calculated as follow,
Accounts receivables turnover = Net Sales / Average accounts receivables
Where,
Average accounts receivables = (Opening accounts receivables + Closing accounts receivables) / 2
The average accounts receivables = (135800 + 144800) / 2 = $140300
The accounts receivables turnover = 1753750 / 140300 = 12.5 times
