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quester [9]
3 years ago
14

Critically analyze the difference and points of convergence between floor inspection and functional inspection

Business
1 answer:
r-ruslan [8.4K]3 years ago
4 0

Answer:

Please refer to the below;

Explanation:

Difference between Floor inspection and Functional inspection.

• Floor inspection is usually conducted in a production environment. It involves checking of materials while processing in the machine by inspectors. Rather than checking the materials in the machine at the beginning of production, floor inspection checks the materials while in process inorder to ensure that the defected ones are quickly detected and expunged. It also ensure that the equipments used in processing are properly functioning.

• Functional inspection is an inspection that checks the overall function of a product rather than what makes up the component parts. For instance the load capacity and speed of a vehicle can be checked for optimal performance whereas individual parts that make up the vehicle are not checked, yet bring out satisfactory performance when combined together. This form of inspection is concerned with verification of final output and does not provide details about different sections instead provides a wider understanding of comfort that emanate from inspecting same item.

Points of Convergence between Floor inspection and Functional inspection.

• The key objective of both floor and functional inspection is quality output having reviewed and examined their expectations.

• Both floor and functional inspection work to prevent defective product from flowing down the successive operations and avoid loss to the company

• Both floor and functional inspection aim at meeting customers requirements, wants and needs.

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Net income increases when: Group of answer choices fixed costs increase. depreciation increases. the average tax rate increases.
worty [1.4K]

Net income increases when "revenue" increases.

<h3>What is revenue?</h3>

The overall revenue generated by a business over a predetermined period of time. This can be done by-

  • The entire income generated by a specific source, such as a property with high predicted yearly returns.
  • The total income a financial investment generates.
  • The amount of revenue that a political entity, such as a country or state, collects and deposits into the treasury for use by the general public.
  • The simplest way to determine revenue is to multiply the total number of units sold by the selling price.
  • A company's earnings, or bottom line, will be lower than its sales because revenues do not take expenditures or expenses into account.

To know more about the financial investment, here

brainly.com/question/334960

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5 0
2 years ago
Diane Bernick opened Bernick's Consulting. Transactions for the month of January and trial balance at January 31 are shown. Jan.
padilas [110]

1. The preparation of the Income Statement for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Income Statement </h3>

For the Month Ended January 31, 20--

Consulting Fees               401                             $1,700

Wages Expense                511               1,400

Rent Expense                   521                 750

Phone Expense               525                   65

Utilities Expense              533                  115

Miscellaneous Expense  549                  40    $2,370

Net income                                                          $670

2. The preparation of the Owner's Equity for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Owner's Equity</h3>

As of January 31, 20--

Diane Bernick, Capital      311            $11,000

Diane Bernick, Drawing   312                (450)

Net loss                                                  (670)

Owner's equity                                 $9,880

3. The preparation of the Balance Sheet for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Balance Sheet</h3>

As of January 31, 20--

<h3>Assets:</h3>

Cash                                   101             $9,730

Office Supplies                 142                  200

Office Equipment              181                1,300

Total assets                                        $11,230

<h3>Liabilities and equity:</h3>

Accounts Payable           202            $1,350

Owner's equity                                    9,880

Total liabilities and equity                $11,230

<h3>Data: </h3>

Bernick’s Consulting

<h3>Trial Balance</h3>

January 31, 20--

ACCOUNT TITLE    ACCOUNT NO.    DEBIT    CREDIT

Cash                                   101             $9,730

Office Supplies                 142                  200

Office Equipment              181                1,300

Accounts Payable           202                              $1,350

Diane Bernick, Capital      311                              11,000

Diane Bernick, Drawing   312                 450

Consulting Fees               401                               1,700

Wages Expense                511               1,400

Rent Expense                   521                 750

Phone Expense               525                   65

Utilities Expense              533                  115

Miscellaneous Expense  549                  40

Totals                                                 14,050   14,050

Learn more about preparing financial statements at brainly.com/question/22941895

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4 0
2 years ago
Variable costs are Question 8 options:
aleksklad [387]

Answer:

The correct answer is option A.

Explanation:

In the process of production, several inputs are used to create outputs. These inputs may or may not be varied in the short run. Those inputs that can be varied are called variable inputs, for instance, labor.  

Those inputs that cannot be varied in the short run are called fixed inputs. For instance, capital, machinery, etc.  

The cost incurred on variable inputs is called a variable cost. This cost changes with the change in the quantity of output produced. The quantity of output varies with the quantity of input employed and so does variable cost.

4 0
3 years ago
Read 2 more answers
On July1, 2018, Morrow Inc. purchased a spooler at a cost of $40,000. The equipment is expected to last five years and have a re
Mazyrski [523]

Answer:

(1) the double-declining-balance method

Depreciation for 2018 = $16,000

Depreciation for 2019 = $9,600

Book value of the spooler at December 31, 2018 = $24,000

Book value of the spooler at December 31, 2019 = $14,400

(2) the sum-of-year digits

Depreciation for 2018 = $12,000

Depreciation for 2019 = $9,600

Book value of the spooler at December 31, 2018 = $28,000

Book value of the spooler at December 31, 2019 = $18,400

Explanation:

(1) the double-declining-balance method

Note: See part 1 of the attached excel file for the computation of depreciation for 2018 and 2019 and the book value of the spooler at December 31, 2018 and 2019 using the double-declining-balance method.

Double-declining-balance method can be described as a depreciation technique in which the rate at which an asset is depreciated is twice depreciation rate for the straight line depreciation method.

The double-declining-balance depreciation rate for Morrow Inc. can therefore be calculated as follows:

Straight line depreciation rate = 1 / Number of expected useful years = 1 / 5 = 0.20, or 20%

Double-declining depreciation rate = Straight line depreciation rate * 2 = 20% * 2 = 40%

The 40% double-declining depreciation rate is what is employed in part 1 of the attached excel file table.

Note:

Although this is not part of the question but it will be useful for you in the future. The depreciation expenses for year 2022 is calculated by deducting the residual value of $4,000 from the 2022 Beginning depreciable amount (i.e. $5,184 - $4,000 = $1,184). The residual value of $4,000 therefore represents the book value at the end of year 2022.

(2) the sum-of-year digits

Note: See part 2 of the attached excel file for the computation of depreciation for 2018 and 2019 and the book value of the spooler at December 31, 2018 and 2019 using the sum-of-year digits method.

The sum-of-year digits method can be described as a depreciation method that accelerates deprecation by assuming that an asset’s productivity falls with the passage of time.

Under the sum-of-year digits method, the remaining useful life of the asset at the beginning of the period is divided by the sum of the year's digits to obtain the deprecation rate for that period.

For this question, the Sum of year digits used in the attached excel file is calculated as follows:

SYD = Sum of year digits = 1 + 2 + 3 + 4 + 5 = 15

Download xlsx
3 0
3 years ago
Joanna was laid off from her job 11 months ago. After searching for a job for months, Joanna finds a job but is only offered par
lutik1710 [3]

Answer:

Underemployed.

Explanation:

This is basically explained as not having enough payed job or working part time; it is also explained to not be usually able to maximize your skills or bring the best in you in the nearest future. In some cases it is a situation of insufficient employment pattern towards a skilled man or a worker in any field that is been presented as the case may be.

This can be seen in a part-time job despite having a burning passion for full time work, and also over-qualification.

7 0
3 years ago
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