The correct answer to this open question is the following.
Arbot Co. manufactures appliances at three manufacturing facilities in the United States. Each location has a plant manager who oversees the manufacturing process for that location. Segmented income statements are prepared for each plant and each product manufactured in the plant. The salary of each plant manager is a traceable fixed cost to the plant and a common fixed cost for the individual product lines made in the plant.
The traceable fixed cost for a corporation means that this cost has a relationship between cost and effect related to a particular area or region of the country, or related to a process just operated in a specific location. This traceable fixed cost is part of the equation because there is a peculiar business that includes it. Or there is a necessity to be covered.
Answer:
$5,000
Explanation:
<em>Note that Lakeland Chemical manufactures uses weighted-average method of process costing</em>
Equivalent units
Materials = 9,000
Conversion Costs = 7,500
Total Costs
Materials = $20,500
Conversion Costs = $15,000
Cost per equivalent units
Materials =
Conversion Costs =
Total Cost in remaining in work in process
Total Cost
The total costs remaining in work in process on May 31 are $5,000.
Answer:
Nominal GDP for a given year is measured in dollars of that year, whereas real GDP is measured in dollars of some base year.
Explanation:
The key revenue accounts that are usually included in the cycle
can help know more about business’ income moves through the company's
accounting system. These are:
-Cash
-Sales
-Accounts Receivable
-A/R Subsidiary Ledger
-Financial Receivable
-Allowances for Doubtful Accounts
-Bad Debt Expense
-Sales Discounts
-Sales Returns and Allowances
-Leases
-Warranty Expense
-Warranty Liability
-Sales Commission Expense
Accounts that Involve Critical Accounting Estimates:
-Warranty and Additional Service Actions
-Automotive Sector
-Financial Service Sector
-Operating Leases-
Allowance for Credit Losses
-Allowance for Doubtful Accounts
-Bad Debt Expense
-Lease
<span> </span>
Answer:
The correct answer is C
Explanation:
JIT termed or stand for the Just in Time Inventory, it is a strategy or the plan of action, which is to increase the efficiency and decrease the waste through receiving the goods only as they are required in the process of the production, thereby decreasing the inventory costs.
So, the costs of the obsolescence, inventory financing and storage supervision could be decreased through the practice of the JIT (Just-in-time inventory).
