Answer:
d. All of these
Explanation:
Personal financing is the process of organizing and managing an individual or household's income to achieve set financial goals. It involves managing personal finance activities such as income, expenditure, savings, and investments. The primary objective of personal finance is to assist individuals maximize their current incomes and make future plans. As a result, they can achieve both short term and long term goals.
Answer:
The main advantage of using ABC costing method is that it is more exact than traditional costing, and overhead costs are generally allocated on different basis (cost drivers) which results in a more fair distribution.
In this case, overhead costs allocated based solely on direct labor hours might be over or under stated since certain manufacturing procedures might require a lot of labor but few machines, while others might require few labor and a lot of machines.
Cutting is done mostly by machines while design is done mostly by employees. Allocating cutting overhead costs based on machine hours makes sense. Since both wool and cotton require the same amount of machine hours, cutting costs are allocated equally between them.
On the other hand, design is carried out by employees, so allocating design costs based on set ups (which is also carried out by employees) makes sense. That is why most of design costs are allocated to wool (wool requires 67% of setups).
Before under the traditional method, overhead costs were allocated evenly, but once we start allocating them based on more real cost drivers, the total amounts change.
If Lisa makes $6,000 per month at her full time job and then working on her business in the evening, she should be making at least $6,000 frmo her business before quitting her full time job. If Lisa is use to making $6,000 and needs that to support herself and her bills, then she would want that same amount of money to be coming in from another source before she can quit her current job. If Lisa is making money from her business already and needs that in conjunction to the $6,000 she makes at her full time job than that money needs to be included in her income before she leaves her job.
Answer:
See below
Explanation:
1). Intermittent Expenses
Occur at different times throughout the year and tend to be in large lump sums, like college tuition payments and car repairs.
Although intermittent expenses are irregular (do not occur monthly), the amounts involved are predictable.
2). Variable Expenses
Change in dollar amount every month and include things like utility bills,
gasoline and groceries
variable expenses are the business expenses that change as the production volume changes. Variable expenses are directly related to the output of a business.
3) Fixed expenses
Remain the same from month to months like rent and insurance premiums
Fixed costs are constant. They are not expected to change in the current financial year.
4) Discretionary Expenses
Things you don't necessarily need, like eating
Description costs are unnecessary or non-essintial expenses. A business or household will continue functioning even without the discretionary expenses.