C.
This is because all resources are almost being used and to their full potential, therefore there are few idle resources and thus is efficiency.
Answer: The terms provided do not match the definitions provided. the answer to the question is 1) Purchase order 2) imprest fund
Explanation:
a. A document that creates a legal obligation to buy and pay for goods or services ----- Purchase order
A purchase order is an agreed document which indicates the type of product or services, quantities of product, and prices for products or services between two parties. it is usually issued by a company who is referred to as a buyer to a vendor known as a seller to supply the goods or services. When the vendor supplies the products, will be paid by the company who is the buyer according to payment terms.
b. The method used to maintain the cash balance in the petty cash account--- imprest fund--- This is a petty cash system where a fixed sum amount of cash is maintained and kept aside by a business only for managing expenses that may arise due to some circumstances but after being taken out, must be replenished.
Answer:
Explanation:
Total output = output cages* sales price = 50500 cages * $3.40 per unit = = $ 171,700
Total Input:
Wages = 630 labor hours * $7.40 = $4,662
Raw materials = $ 31,000
Components = $ 15,450
Total input $51,112 [Add up wages, components and raw materials]
1) Total productivity in units sold = Output in units / Input in dollars
=50500 cages/$51,112
=0.99 per dollar input
2) Total productivity in dollars= Output in dollars / Input
=$171,700/51,112 = $ 3.36 per unit input
The debits entered in the raw materials account during the month of December totals $60,000. Since that was the only transactions that in that month was used to purchase new raw materials it is shown as a debit to the raw materials account. The $26,000 already on hand and the $62,000 were also on hand but used for production, not purchased.
