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3 years ago

Record the following process costing transactions in the general journal:

Business

1 answer:

Ne4ueva [31]3 years ago

5 0

Answer:

Raw Materials $9,300 (debit)

Account Payable $9,300 (credit)

Assembly Department $4,300 (debit)

Finishing Department $2,400 (debit)

Raw Materials $6,700 (credit)

WIP Inventory-Assembly $10,500 (debit)

Cash $10,500 (credit)

Overheads $12,100 (debit)

Property taxes-plant: Payable $1, 800 (credit)

Utilities-plant : Payable $4, 800 (credit)

Insurance-plant : Payable, $1, 700 (credit)

Provision for Depreciation-plant, $3, 800 (credit)

Work In Process - Assembly Department $7,600 (debit)

Direct labor, $5, 000 (credit)

Manufacturing overhead, $2, 600 (credit)

Work In Process - Finishing Department $11,300 (debit)

Direct labor, $4,700 (credit)

Manufacturing overhead, $6,600 (credit)

Finishing Department, $10,500 (debit)

Assembly Department $10,500 (credit)

Finished Goods Inventory $15,600 (debit)

Finishing Department $15,600 (credit)

Explanation:

Manufacturing costs accumulate in the Work In Process Account of their respective departments.

When goods are transferred out of the Assembly Department to the Finishing Department, de-recognize the cost from Assembly Department (credit) and recognized the cost in Finishing Department (debit).

When cost of goods completed are transferred out of the Finishing Department into Finished Goods Inventory, we de-recognize the cost from Finishing Department and recognize it in the Finished Goods Inventory.

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Identify strategies to promote the development of the human resources field in business

Naya [18.7K]

Answer:

Develop a thorough understanding of your company’s objectives
Evaluate your HR capability
Analyze your current HR capacity in light of your goals
Estimate your company’s future HR requirements
Determine the tools required for employees to complete the job
Implement the human resource management strategy
Evaluation and corrective action

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2 years ago

PLEASE! I need help :): will mark brainliest! Describe Sinek's Golden Circle. What does he use this for? Sinek argues that "peop

algol [13]

Explanation:

Sinek's Golden Circle can be described as a methodology used to analyze marketing campaigns of the company itself and its competitors. It is widely used by advertisers and marketers. The methodology consists of drawing a graph in a target format that indicates from the center the questions: why, how and what.

Senek uses this graph to present a different way of communicating, what he means by that is that people are encouraged to buy not only the company's product, but its values, its causes, what you believe and why that your company exists.

I agree with him because the organizational image and its values are important to the consumer as much as the product or service, because people want to consume value, positive experiences and emotions, therefore they will want to establish a relationship with companies that share the same your personal values.

In the organizational environment it is also important to hire professionals who share the same values as the company, so that work becomes more motivating and productive, in addition to creating an aligned organizational culture that will help the company to be successful both internally and externally.

The Tivo company is an example of a company that tried to use the golden circle strategy but failed because it proposed a value proposal that made sense, because what it promised did not match the value it could offer, so it was a failed strategy.

Therefore, organizational values must be shared by all employees in an organization, starting with the leader, different from those who lead, a true leader is one willing to set an example of how organizational values should be fulfilled, it is necessary that he is willing to help employees, to be ethical and a motivational mirror for everyone in the company, not just a controlling and authoritarian manager who imposes fear and makes it difficult to create a productive and motivating organizational culture.

Security needs are also an important factor in organizations and represent the second level of the Maslow pyramid, in terms of the need that employees have to protect their values, their work, their emotional, job stability, insurance health insurance, life insurance, etc.

To make the work environment safe it is necessary to have employee protection policies, health benefits and life insurance, ease of doing work, physical security, etc.

Maintaining job security helps with motivation, innovation, employee loyalty and reduced turnover, which helps employees feel valued by the company and motivated to be more productive and loyal to their work.

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3 years ago

Doodle Corporation, a manufacturer of safety pins, decided that the company had to increase the awareness of its glow-in-the-dar

kow [346]

Answer:

Objective and task budgeting method

Explanation:

The objective and task method refers to a budgeting method where a business allocates a certain marketing budget in order to achieve specific objectives, instead of simply allocating a marketing budget based on percentage of sales revenues.

Doodle set its specific goals:

increase the sales of its basic steel pins by 10%
increase the awareness of its glow-in-the-dark pins

And then it allocated $1.5 million for marketing expenses.

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2 years ago

Explain the importance of profit to the economy.

Kay [80]

Answer:

Explanation:

Profit is the surplus revenue after a firm has paid all its costs. ... In a capitalist economy, profit plays an important role in creating incentives for business and entrepreneurs. For an incumbent firm, the reward of higher profit will encourage them to try and cut costs and develop new products

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3 years ago

On April 1, a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date. What amount

inn [45]

Answer:

$337.50

Explanation:

the premium on a three year policy = $1,350

premium per year = $1,350 / 3 = $450

premium per month = $450 / 12 = $37.50

Since the premium covered April to December, 9 months of insurance expense are accrued.

insurance expense for 9 months = $37.50 x 9 = $337.50

The journal entries should be:

April 1, purchase a 3 year insurance policy:

Dr Prepaid insurance 1,350

Cr Cash 1,350

December 31, accrued insurance expense:

Dr Insurance expense 337.50

Cr Prepaid insurance 337.50

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2 years ago