Answer:
Accounting treatment (debit credit rules) of given entries
Explanation:
- Purchased office furniture on account Account
Furniture ie Asset increase - Debit , Creditor (Furniture Supplier) ie Liability increase - Credit
- Provided services on account
Debtor ie Asset increase - Debit , Sale ie Income increase - Credit
Prepaid Expense (Rent) ie Asset Increase - Debit. Rent paid now implies later rent ie (Expense) decrease - Credit
Answer:
$2.58 per machine hour
Explanation:
The computation of the fabrication activity cost pool activity rate is
= ($461,000 × 15%) + ($123,000 × 15%) + ($207,000 × 20%) ÷ 50,000 machine hours
= ($69,150 + $18,450 + $41,400) ÷ 50,000 machine hours
= $2.58 per machine hour
A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity.
<h3>
What is Standard Operating Procedures?</h3>
A standard operating procedure exists as a set of written instructions that represents the step-by-step process that must be endured to properly complete a routine activity. A standard operating procedure exists as a set of step-by-step instructions collected by an organization to assist workers to carry out routine operations. SOPs desire to accomplish efficiency, quality output, and uniformity of performance, while decreasing miscommunication and defeat to comply with industry regulations.
SOPs can also be used as a part of a personnel training schedule, hence they should support complicated work instructions. When historical data are being assessed for current usage, SOPs can be advantageous for reconstructing project movements.
Additionally, SOPs exist commonly used as checklists by inspectors when auditing systems. Finally, the benefits of a valid SOP stand minimized work effort, together with enhanced data comparability, credibility, and legal defensibility. SOPs exist necessary even when published procedures are being administered because cited published techniques may not contain appropriate data for conducting the procedure in-house.
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