Answer:
This problem requires us to pass journal entry to assign overhead to the Assembly and Finishing Departments.
We know that overhead is allocated on estimation basis through applied overhead account. The basis of assignment is given in the question. The overhead will be assigne/recorded in relevant department work in process cost account. The journal entry is given below.
Debit Assembly WIP Account $ 70,720
(44,200*1.6 = 70.720)
Debit Finishing WIP Account $ 28,000
((62,200-44,200)*1.6 = 28,800)
Credit Factory Overhead applied Account $ 99,520
Answer:
I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89
I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.
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Be realistic
Aim for sticking to your budget most of the time, and you’re bound to reach your financial goals. Breaking your budget occasionally is OK, providing you get right back on track as soon as possible.
Answer: Differentiation vs Integration environment
Link between strategy, structure and culture
Mechanistic vs Organic environment
Explanation:
Differentiation and integration environment
Differentiation looks at how an organization is being divided as regards functional areas and departments while integration looks at how a firm operates at the component level ie inter-deparment. A firm that seeks to survive must find a way to balance the two.
Link between strategy, structure and culture.
Strategy is all about the firm's long term vision and plans and how management hope to actualize them. Structure refers to the way the organization function; its chain of command. Culture refers to the shared values within the organization. The relationship between these three concepts is key.
Mechanistic vs Organic environment
The mechanistic environment is more suitable for a organization that is in a stable environment as it is rigid. An organic environment is more dynamic and will fare better in an unstable environment since it can easily cope with changes.
Answer: False
Explanation: The statement given in the above question relates to business intelligence.
Competitive intelligence is used by the managers and executives to implement strategic decision making effectively. In competitive intelligence , the gathering and analyzing of customers and competitors is done and not of partners and industries etc.
Thus, the above statement is false.
