Explanation:
The journal entry to close the books is
Cost of Goods sold A/c Dr $1,200
To Manufacturing Overhead A/c $1,200
(Being the under-applied overhead is recorded)
Since the jobs were undercosted, that means the overhead is applied under overhead so we debited the cost of goods sold account and credited the manufacturing overhead account. Both the items are recorded for $1,200
Answer:
By understanding its core values, an organization can take steps to define its mission, a statement of the organization's function in society that identifies its customers, markets, products, and technologies.
Explanation:
The core value of a company can be defined as the enduring principles that govern it's fundamental conduct towards attainment of it's goals. It is usually a passionate pledge on the principles that the organization stands for. The founders of the company or organization are usually the authors of an organization's core values since the founders can be seen as the embodiment of the principles that they believe and live by. They strive to capture the organization's heart and soul in order to motivate it's employees, stakeholders and board of directors to drive the organization in such a way that the organization will be a reflection of it's core values.
Once the core values of an organization are understood, the organization can take steps to define its mission. The mission statement tends to define it's role to the society that identifies its customers, markets, products, and technologies. The mission statement should be brief, understandable and concise.
Answer:
consumption utility
Explanation:
Consumption utility is a measurement of how much you like a product or service, ignoring the effects of price and its inconvenience. Consumption means using up of utilities. For example – when we take a glass of water to quench our thirst, we are said to consume water. Whenever we make use of any commodity or service for the satisfaction of our wants, the act is called consumption. Therefore, by consumption we mean the satisfaction of our wants by the use of commodities and services. Economic analysis of household behavior is based on the assumption that people seek the highest level of utility or satisfaction. Individuals are the only judge of their own utility. In general, greater consumption of a good brings higher total utility. However, the additional utility received from each unit of greater consumption tends to decline in a pattern of diminishing marginal utility. The utility-maximizing choice on a consumption budget constraint can be found in several ways .
<span>The population size at the end of 5 days will be approximately 37.207 members. This is calculated by multiplying the growth rate by the population size and adding this to the previous result.</span>
The Current assets are listed on a balance sheet by order of liquidity i.e in the order of the amount of time it would usually take to convert them into cash.
n accounting terms, current assets are those assets that can reasonably be expected to be sold, consumed, or exhausted in the ordinary course of business of the company during the current fiscal year or operating cycle or fiscal year.
Current assets represent the value of all assets that can reasonably be expected to be converted into cash within one year. 1 Working capital is segregated from other resources. This is because companies rely on working capital to finance their ongoing operations and pay their current expenses.
Current assets are assets that can be converted into cash within one year. B. Short Term Investments and Accounts Receivable. Fixed assets are long-term assets with full value that can only be realized after one year, such as B. Fixed Assets and Machinery.
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