Answer: The amount of the loss can be reasonably estimated and it is probable that an asset has been impaired or a liability has been incurred.
Explanation:
A loss contingent is an expense that is based on a future event for instance, if the company loses a law suit and would have to pay settlement costs.
Loss contingents are only permitted to be accrued if the probability that they will happen is likely and even at that, the amount of loss needs to be capable of being reasonably estimated. This way, a proper estimate can be made that will represent the situation adequately.
Given the data in the problem, we can calculate the cost of production for each bucket:
one bucket requires:
500 grams of plastic and one-half hour of direct labor.
The plastic costs $10.00 per 500 grams and the employees are paid $15.00 per hour.
Therefore, one bucket costs (material and labor):
$10.00 + $15.00 * (1/2 hour) = $17.50 per bucket plus (1.10 * $7.50) = $25.75
for 380 buckets :
$25.75 * 380 = $9785
This value only represents the cost of production of 380 buckets for the month of March. <span />
a) 12 customers per hour is the flow rate of the process.
b) if the car wash has a demand of 15 cars per hour 60 percent is the utilization of the machine that performs the wax process.
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Explanation:</u></h3>
a) The bottle neck which is the process of washing has a capacity of 12 number of cars as its minimum capacity. The flow rate is considered as the minimum capacity of the bottleneck. Thus, flow rate of the process will be 12 customers per hour.
b) The utilization capacity can be calculated by dividing flow rate by the capacity of the process step.
Here the demand is 15 cars per hour. The calculated flow rate is 12 cars per hour. The difference is 3.
Thus the capacity of the machine which performs the wax process will be 1 / 3 × 60 = 20 cars per hour.
Thus the utilization of this machine is 12 / 20 = 60 percent.
Utilization is the flow rate divided by the capacity of the process step.
Another criteria that has to be considered for the mission statement would be the customer that would be served and the social responsibility it owes to the environment.
<h3>What is a mission statement?</h3>
This is a statement that is made by a company or and organization that tells us of their aims, obligations and their values.
One of these would be to serve customers efficiently and also operate in an efficient manner that would be beneficial to the environment.
Read more on mission statement here:
brainly.com/question/1843624
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