Answer:
Current Assets :
Work in process inventory 23,000
Raw materials inventory 17,000
Finished goods inventory 35,000
Supplies 500
Accounts receivable 4,000
Prepaid expenses 2,000
Short-term investments 25,000
Cash 22,000
Total 128,500
Explanation:
Current Assets are always shows in the order of their liquidity in the Balance Sheet. That is the order in which they are quickly be converted into cash within a period of less than 12 months. Start with the Inventories to cash and cash equivalents as shown above.
Following Adjustments are being shown below.
<u>Which two accounts are affected ?</u>
<u>What kind of accounts are they? </u>
<u>Do the account balances increase or decrease? </u>
<u>Do we debit or credit the accounts? </u>
Since insurance is paid in advance for the upcoming six months, the account that will be debited will be a prepaid insurance account.
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Net operating income equals (unit sales - unit sales to break even) × unit contribution margin.
What is net operating income?
Real estate professionals utilize the metric known as Net Operating Income, or NOI, to swiftly determine the profitability of a certain venture. After deducting required operational costs, NOI calculates the revenue and profitability of investment real estate property.
Is net operating income the same as profit?
After all, costs have been deducted, operating profit displays a company's earnings, excluding the cost of debt, taxes, and some one-time expenses. Contrarily, net income is the profit that is still left over after all expenses made during the time have been deducted from sales revenue.
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Answer:
D) Johnson has failed to use the correct cost driver as the cost-allocation base for setup costs.
Explanation:
One of the main disadvantages of ABC costing method is that it is very hard and expensive to implement, and sometimes you cannot allocate all overhead costs to specific cost drivers. That is what happened here with Johnson's costing method, they combined two cost drivers and allocated resources using the number customer orders which is not a valid base, e.g. one single large order represents higher costs than 10 small orders.
ABC costing is not accepted by US GAAP due to its limitations or how hard it is to apply correctly, but it is a very useful information source for making decisions. The problem is, if gathering the information is worth the effort and extra cost of ABC?
Answer:
The strength of an organization's culture refers to how widely and deeply employees hold the company's dominant values and assumptions
Explanation:
The culture of an organization shows the working culture of the organization. It consists of duties, responsibilities, beliefs,values, ethics, policy, procedures that are to be followed by the all employees in the organization. There should be a good working culture so that everyone gots motivated so that they perform their task better
Therefore according to the situation the option is A as it refers to the culture of the organization that understands that how broadly needs to understand the employees so that we can improve the profit of the organization by taking care of beliefs and values.
