Answer:
Inventory
Explanation:
Inventory refers to
- The finished products in the warehouse or store that is ready for sale.
- Raw materials used in the production of goods
- Goods that in the production process, also known as work in progress.
Inventory is held with the intention of selling. It is classified as current assets. Income realized from the sale of inventory is revenue to the business.
Answer:
The answer is: Must do priority
Explanation:
Must do priorities are the activities you or your organization must achieve in order to be successful. Must do priorities should be your highest priorities.
Veronica needs to get the bank loan so that her company can start their expansion projects, and she needs to do it fast.
Answer:
$28,000 and $12,000, respectively
Explanation:
Marginal cost = incremental cost from Plan C to Plan D
= total cost (plan D) - total cost (plan C)
= 72,000 - 44,000 = $28,000
Marginal benefit = incremental benefit from Plan C to Plan D
= total benefit (plan D) - total benefit (plan C)
= 64,000 - 52,000 = $12,000
Therefore marginal cost and benefits for Plan D = $28,000 and $12,000, respectively
Answer:
The president of Riggs has missed something.
She should make the Sail instead of buying because its cheaper to manufacture than purchasing it outside.
Explanation:
<u>Cost of Manufacturing the Sails:</u>
Direct materials $93
Direct Labor $83
Total $173
The president of Riggs has included the $90 overhead based on $78,000 of annual fixed overhead that is allocated using normal capacity in the cost of manufacturing the sail which is incorrect.
Riggs Company is operating at 80 % of full capacity, hence utelizing the 20% excess capacity would not expand its fixed costs.
Thus said the current fixed cost are irrelevent for this decison and would be incurred whether or not Riggs Company utilizes the excess capacity
<u>Conclusion:</u>
The cost of making the sail is $173 which is lower than the cost of buying them at $ 258.
I would advise The president of Riggs to make the sail by utilizing the excess capacity since its cheaper than purchasing it outside.
Answer:
Ace records the purchase:
Inventory 3,700 Accounts payable 3,700
Explanation:
Ace Bonding Company purchased merchandise inventory on account. The inventory costs $3,700.
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. At that time of purchasing, the company has not sold the merchandise yet. The entry records the purchase:
Debit Inventory $3,700
Credit Accounts payable $3,700