Answer:
Production Cost Report;Cost Reconciliation schedule,Equivalent units of Production;Unit Production Costs;Physical Units
Explanation:
Production Cost Report:A summary of both production quantity and cost data for a production department.
Cost Reconciliation schedule:Shows that the total costs accounted for equal the total costs to be accounted for.
Equivalent units of Production:Work done during a period expressed in fully completed units.
Unit Production Costs: Costs expressed in terms of equivalent units of production.
Physical Units:Actual units to be accounted for during a period, irrespective of any work performed.
Total Units Accounted for:Units transferred out during the period plus units in ending work in process.
Total manufacturing cost per unit:Unit materials costs plus unit conversion costs.
Units Transferred out:Total units accounted for minus units in ending work in process.
Answer:
b.to verify that the ledger is in balance at the beginning of the next period.
Explanation:
Post-closing trial balance: In this trial balance, there is no role of net income as the temporary accounts are already closed and the net income is already transferred to the retained earnings account.
It is used to check that the debit balance and the credit balance is equal and balanced. Only the balance sheet item is displayed in this trial balance.
Thus, option b is correct as it carries forward the balance to the beginning of next period
Answer:
A cardholder fails to make a minimum payment one month.
Explanation:
A credit card late-payment fee is the fee charged by a credit card issuer because the card holder fails to pay his debt at the minimum payment deadline. This fee can be very high up to $40 depending on the card issuer. Some card issuers charge very low payment fee or no payment fee at all, therefore if you know you are someone who forgets to pay debts at the due date use credit cards that charge low payment fees.
Answer: d.what customers want and what management thinks customers want.
Explanation:
The GAP model attempts to explain what is needed for customer satisfaction to be acheived.
It has 5 Gaps and the first Gap is being violated in the above scenario.
It deals with, The gap between Customer Expectation and Management Perception.
The First Community Bank management thought that customers wanted a relaxing space to conduct transactions whereas customers just wanted to go transact as quickly as possible and get on with their lives which points to a clear Gap between Management's perceptions of what customers want and what they actually want.
Answer:
Initial outlay = $250,000
Annual cash inflow = 25% x $250,000 = $62,500 per annum
Payback period = <u>Initial outlay</u>
Annual cash inflow
= <u>$250,000</u>
$62,500
= 4 years
Explanation:
In this respect, there is need to calculate the annual cash inflow, which is 25% of initial outlay. Then, we will divide the initial outlay by the annual cashflow. This gives the payback period of the machine.