The commodity was so priceless that if anyone stole it they would automatically go to jail without any trial and might be sentenced to death.
<u>Calcualtion of Cost of goods manufactured:</u>
(Note: It is assumed that the Cost of Material used is equal to the Cost of Material Purchased $234,000)
Total manufacturing cost = Cost of Material used + Direct labor costs + Allocated manufacturing overhead costs
Total manufacturing cost = 234,000+180,000+260,000 = $674,000
It is also assumed that there were no beginning or ending work in process inventory, that means Total manufacturing cost shall be equal to Cost of goods manufactured.
Hence, Cost of goods manufactured = <u>$674,000</u>
The activities reflected in the accounting system are:
- 1. Analyzing and interpreting reports. - Communicating
- 2. Acquiring knowledge of revenue transactions. -identifying
- 3. Reporting debt owed to lenders. - Communicating
- 4. Maintaining a log of sales transactions.- recording
- 5. Measuring revenue from a holiday sale.- recording
- 6. Measuring the costs of a product. - recording
- 7. Reporting the profitability of a product line. - Communicating
- 8. Preparing financial statements. - Communicating
<h3>What are some aspects of accounting?</h3>
There is the communicating aspect which is related to how information from the financial statements are presented so that people have access to that communication.
Identifying refers to finding out the various accounting transactions. Recording refers to all aspects of noting down information in accounting and putting them in financial statements.
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Answer:
Nuts and Bolts International Business Student of the Year Competition (IBSY)
Explanation:
This competition seeks to award students attending Nuts and Bolts member schools for their outstanding business skills and academic excellence. Interestingly, this award has been in existence for 15 years now.