Standard Cost Journal Entries Bellingham Company produced 15,000 units that require 2.5 standard pounds per unit at a $3.75 stan
dard price per pound. The company actually used 36,000 pounds in production. Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank.
Effective internal communication helps ensure that all members of the organisation are working collaboratively towards a common goal. It develops a cohesive culture and empowers employees to make the right decisions in line with the organisation's goals.
A Mission Statement defines the company's business, its objectives and its approach to reach those objectives. A Vision Statement describes the desired future position of the company. Elements of Mission and Vision Statements are often combined to provide a statement of the company's purposes, goals and values.