Answer:
d.$1,685
Explanation:
Though many jobs were completed, but only Job 356 and 357 were sold.
Cost of Goods Sold = cost of job 356 +cost of job 357
= $450 + $1,235
= $1,685
Answer:
0.038 units per $ of factor costs
Explanation:
Labor cost for 40 units = 30 hours × $10/hour = $300
Cost of paper for 40 units = 15 sheets × $50/sheet = $750
Output = 40 units
Multi factor productivity is expressed as;
Multi factor productivity = Output/Total Factor cost
Multi factor productivity = 40 units/$1050 = 0.038 units per $ of factor cost
Multi factor productivity is a measure that depicts units produced for every $ of factor products used. In the above case 2 factors i.e labor and paper are used.
Answer:
a. estimate the amount to mitigate high impact and probable issues.
Explanation:
In project management, a contractor can be defined as an individual or organization that temporarily undertakes a project in order to create a unique result, product, and service.
A contingency is an amount of money which is added to the initial or standard cost estimate so as to cover risk exposure and any uncertainty.
When making contingency estimates, the contractor should estimate the amount to mitigate high impact and probable issues.
As a result of uncertainties that are peculiar to everything in life, most especially projects undertaken, it is very important and necessary that the contractor should set aside an amount of money to mitigate or lessen any high impact such as dwindling prices, miscellaneous, faults, repairs and other probable issues that may arise in the process of execution.
Answer:
Date Accounts Titles and Explanations Debit Credit
Sept, 11 Cash $450
2016 Sales $450
(To record the Cash Sales)
Sept, 11 Warranty Expenses $40.50
2016 ($450 x 9%)
Estimated Warranty Payable $40.50
(To record the Warranty Expenses)
July, 24 Estimated Warranty Payable $32
2017 Repairs Parts Inventory $32
(To record the material taken from Inventory)
The correct answer to 1 is the ability to easily raise financial capital.
A sole proprietor is limited to the cash that they personally have, so this is a disadvantage when they need additional capital for the business.
The correct answer to 2 is that their personal property can be used to pay debts.
A partnership is personally responsible for the debts of the company. If the company owes money and cannot pay it, the partners that own the business are personally responsible.
The correct answer to 3 is the shareholders.
The shareholders are the owners of the corporation. They vote for a board of directors who in turn oversee the operation of the corporation.
