Time tickets and materials requisition slips are similar to. The cost associated with both must be credited to the Work in Process Inventory. Option A. This is further explained below.
<h3>What are time tickets?</h3>
Generally, A time ticket is a form filled out by workers to keep track of their working hours.
In conclusion, Both time tickets and materials requisition forms have certain similarities. Both must be accounted for in the Work in Process Budget.
<h3>Complete Question</h3>
How are time tickets and materials requisition slips similar?
The cost associated with both must be credited to the Work in Process Inventory. Costs associated with both must be recorded in the general ledger and job cost sheets.
Costs associated with both must be debited to Manufacturing Overhead.
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Answer:
The general journal adjusting entry needed for December 31, 20X1:
Debit Interest expense $2,600
Credit Interest Payable $2,600
Explanation:
On January 1, 20X1, Bravo Company borrowed $26,000 to purchase equipment. The loan is to be repaid plus interest of 10% per year, on December 31, 20X2.
The amount of interest expense for 1 year = $26,000 x 10% = $2,600
Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. The company should record interest expense for the year 20X1 by the general journal adjusting entry:
Debit Interest expense $2,600
Credit Interest Payable $2,600
Answer:
All the following are advantages of ERP systems except: ______
c. moderate to low cost
Explanation:
Enterprise resource planning (ERP) integrates the important parts of their businesses and reduces the time and efforts required to do work. A good ERP system enables teams to focus on revenue-generating tasks by eliminating repetitive tasks. But, these advantages come at some steep costs, especially in initial infrastructure and continuous maintenance.
Desire, Ability, and Willingness.
Desire- do people want to buy the product?
Ability- are they able to buy it? (do they have enough money, etc)
Willingness- are people willing to buy this product instead of something else?
Answer: inelastic
Explanation:
If increasing the admission charge for National Parks increases the National Park Service's total revenue, then the demand for National Park visits is inelastic.
This shows that a change in price will lead to a minimal change in the quantity demanded by the consumers. Even though price was increased, the number of visitors to the park rarely changed. This will lead to increase in revenue.
