Answer:
As the gross profit is the same for both products It is better to choose Product A because Product Z needs further processing a day , so time can also be the constraint.
Explanation:
Process Cost of Product A = $ 8000
Sale of Product A= $ 22,500
Gross Profit For A= $ 14,500
Process Cost of Product Z= $ 8000 + $4200= $ 12,200
Sale of Product Z= $ 26,700
Gross Profit For Z= $ 14,500
The gross profit for both products is same but product Z requires additional day for further processing so it is better to choose Product A.
Answer:
d. segregation of duties
Explanation:
Segregation of duties defines that when a different number of people doing their duties for the same purpose. For example a person receives an envelope of cheque and another person records in accounting system.
According to the given situation, one person who is bookkeeper prepared cash deposit and another person records the collection of journal and ledger. So, this indicates the segregation of duties
Answer:
d. Eliminate contributions to inefficient non-profit organizations
Explanation:
Other listed options are valuable to the question on strategic philanthropy except that on the need to eliminate contributions to inefficient non-profit organizations. No philanthropist would want to offer support to non-profit organizations that are unproductive and inefficient.
Answer:
Bad debts expenses shall be $ 850
Explanation:
The balance in the bad debts expense account shall be the aggregate of the amounts written off and the estimated uncollectible accounts based on ageing at the year end.
Amount written off during the year $ 650
Estimated uncollectible account provided at year end <u>$ 200</u>
Total Bad Debts expenses $ 850
Answer:
c. 37,000 units
Explanation:
Calculation to Determine the total equivalent units for direct materials, assuming that the first-in, first-out method is used to cost inventories
Using this formula
Total equivalent units for direct materials= Transferred to finished goods during the month of July + Ending work in process during the month of July - Inventory in process as on July 1
Let plug in the formula
Total equivalent units for direct materials= 37,500 units + 3,500 units - 4,000 units
Total equivalent units for direct materials= 41,000 units - 4,000 units
Total equivalent units for direct materials= 37,000 units
Therefore the total equivalent units for direct materials, assuming that the first-in, first-out method is used to cost inventories is 37,000 units
