Answer:
1. Debit Utilities Expense $215; credit Accounts Payable $215.
Explanation:
The adjusting entry is as follows
On December 31
Utilities Expense A/c Dr $215
To Accounts Payable A/c $215
(Being the accrued utilities expense is recorded)
Since the utility is an expense so it would be debited to the utility expense and the payment is not made till yet that would become a liability so we credited the account payable
Answer:
ALL EXCEPT PRODUCTION
Explanation:
The costs of the value chain includes: Research and Development, Design Costs, Production, Marketing, Distribution and Customer Service.
The costs of the value chain are expensed in the current year income statement because they majorly (except production costs) fall under the category called periodic costs.
Periodic costs are costs that are more aligned with the passage of time than directly traceable to units of a product or event. Another major difference between product costs and period costs is that product costs can only be incurred when the products have been acquired or manufactured, while periodic costs will apply when the goods have not been acquired or produced yet, or as aforementioned, are associated with the passage of time.
In the light of above definition, all costs within the value chain are expensed as periodic costs with the exception of production costs which obviously are product costs.
Answer:
Inbound Logistics
Explanation:
Logistics is the method of managing materials and information between two points that is between the supplier and the manufacturer.
Inbound logistics means managing the materials and parts between the manufacturer and the supplier with the help of transportation and deals with the procurement and storage of the materials and parts.
A retail company sells agricultural produce and consumer products. The company procures materials from farmers and local producers. This process is an example of <u>Inbound Logistics. </u>
Answer:
The number of kanban containers needed for the wheels is 4.2 containers
Explanation:
In order to calculate the number of kanban containers needed for the wheels we would have to calculate the following formula:
number of kanban containers needed for the wheels=Demand rate*(Average processing time+Average waiting time)*(1+Alpha)/Container size
According to the given data we have the following:
Demand rate = 2000 per day
Average processing time= 0.15 day
Average waiting time = 0.25 day
Container size= 200
Alpha= 5%
Therefore, number of kanban containers needed for the wheels=2,000*(0.15+0.25)*(1+0.05)/200
number of kanban containers needed for the wheels=4.2 containers
The number of kanban containers needed for the wheels is 4.2 containers
