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mylen [45]
3 years ago
9

The controlling account for the cost ledger is Group of answer choices Cost of Goods Sold Materials Finished Goods Work in Proce

ss
Business
1 answer:
Elis [28]3 years ago
3 0

Answer:

Work in process

Explanation:

The work in process refers to the completion of the project i.e how much work is completed and how much is pending. It shows the status of work or we can say tracking.

There are three levels of inventory

1. Raw material

2. Work in progress

3. Finished goods

After completing the processing the product is called to be finished and it is ready to sell

Therefore for the cost ledger, the controlling account is work in process

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Which of the following directly influences an employee's voluntary behavior and performance?
astraxan [27]

Answer:

Letter A. Role perceptions.

Explanation:

Role perception is the main factor that impacts an employee's behavior and voluntary performance, as individual perceptions are responsible for determining a person's set of actions and behaviors in a given situation. It is influenced by the set of values, experiences, emotional and social interaction with society.

Therefore, the perception of their role in the organization will directly influence their performance. Ideally, it should be determined with ethical and normative bases that benefit the employee and help in self-motivation and self-accomplishment of the work.

5 0
3 years ago
Smart Stream Inc. uses the total cost method of applying the cost-plus approach to product pricing. The costs of producing and s
gogolik [260]

Answer:

Smart Stream Inc.

a) Total costs:

Variable costs:

Direct materials = $1,500,000 ($150 x 10,000)

Direct labor = $250,000 ($25 x 10,000)

Factory overhead = $400,000 ($40 x 10,000)

Selling and Administrative = $250,000( $25 x 10,000)

Total variable costs = $2,400,000 ($240 x 10,000)

Fixed Costs:

Factory overhead = $350,000

Selling and admin = $140,000

Total fixed costs = $490,000

I) Total costs = variable plus fixed costs = $2,890,000 ($2,400,000 + 490,000)

II) Total cost per unit = $289 ($2,890,000/10,000)

Explanation:

The total cost method includes all the costs in arriving at the unit cost before adding the desired profit to arrive at the selling price of a product.

Total costs include the cost of goods sold and the expenses incurred in running the business for the period.

It is unlike the product cost-plus and variable cost-plus approaches to product pricing.  For the product cost-plus approach, only the costs of production is taken into consideration for arriving at the selling price.  In that case, the costs of direct materials and labor, and factory overheads would be considered, while variable and fixed selling and administrative costs are excluded.   The unit cost would have been $250.

The variable cost-plus approach considers only the variable elements of costs to arrive at the selling price.  These include the direct materials and labor costs, and variable element of the factory overhead and selling and administrative expenses.  The unit cost would have been $240 as stated in the question.

These different cost-plus pricing approaches are more suitable for some industries than others.  No matter the choice made, it must be noted that they result in different selling prices and can affect the competitiveness of a company.

4 0
3 years ago
Healthy Living, a diet magazine, collected $240,000 in subscription revenue on May 31. Each subscriber will receive an issue of
stich3 [128]

Answer:

Revenue that has been earned by the end of December is $ 140,000

Explanation:

When entity uses the accrual method of accounting, the transaction is recorded as and when it occurs.

The subscription revenue received relates to services to be rendered over 12 months. Therefore the Revenue is recognised as magazines are issued over - time.

<em>From the first issue June to end of December , there exists 7 issues of magazines.</em>

Revenue to be recognised = $240,000 × 7/12

                                             = $ 140,000

7 0
3 years ago
Bank Reconciliation
Karo-lina-s [1.5K]

Answer:

Cash balance according to the bank $23,557.98

+ deposits in transit $12,125.25

- outstanding check N⁰ 124 ($62)

- outstanding check N⁰ 125 ($42)

- outstanding check N⁰ 129 ($1,250)

adjusted bank balance = $34,329.23

Cash account balance $51,596.88

+ note collected by bank $15,250.75

- NSF check ($23,475.40)

- Bank fees ($250)

- Error in recording check N⁰ 125 ($9,000)

adjusted cash account balance = $34,122.23

two errors were detected:

  1. outstanding check N⁰ 125 correct amount is ($24)
  2. bank fees are $25

so the readjusted balances are:

adjusted bank balance = $34,329.23 + ($42 - $24) = $34,347.23

adjusted cash account balance = $34,122.23 + ($250 - $25) = $34,347.23

now both accounts are equal.

5 0
3 years ago
Which era came immediately after World War II?
aleksley [76]

Answer:

The postwar era, 1945-1950.

5 0
3 years ago
Read 2 more answers
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