Answer:
Journal entries will be as follows;
Explanation:
1.The machine purchased is an asset so machinery a/c will be debited.
The cash used to purchase the machine is an outflow so it's credited on the cash a/c
2. Electricity wiring on the machine is part of the acquisition cost, hence we debit machinery account and the cash paid for that is credited on cash a/c
3. Cost of securing it in place is also an operating cost hence you debit machinery a/c and credit the cash used to pay for it in the cash a/c
<u>Journal entries</u>
1. Machinery account Dr 192,000
Cash account Cr 192,000
2.Machinery account Dr 8,000
Cash account Cr 8,000
3.Machinery account Dr 1,600
Cash account Cr 1,600
Answer:
The correct answer is: Service Quality Gap.
Explanation:
The Service Quality Gap refers to the difference between what a company understands a customer's desires and what must be really done to satisfy that consumer. Firms should make all the efforts in their hands to close that breach and provide the customer with the good or service they need to keep their businesses going. When the gap is not closed, the customer's loyalty fails, pushing them to look for different options in other organizations.
The manager is likely using a graphic rating scale when
assessing his employees. The graphic rating scale is a way of having to rate
the traits of an individual and a way of having to quantify the behaviors of
the individuals that are employed.
Answer:
Provide support and discuss performance regularly.
Explanation:
In this case, we can say that Austin would tell supervisors that they should provide support and discuss performance on a regular basis, as a company with well-designed performance management is premised on performance analysis and management.
This could be implemented in the company with supervisors focused on coordinating and controlling their subordinates in order to analyze and provide support and provide subsidies that assist in continuous improvement, motivation and increased work performance.
Answer:
Please check the explanation below.
Explanation:
Full costing is also known as absorption costing. Under the full costing method, all the costs of production (whether fixed or variable) are included in the product cost and are therefore, allocated to each unit produced during the period. Selling and administrative expenses (whether fixed or variable) are treated as period costs under this method.
A major disadvantage of the full costing method is that it results in higher profit if the volume of production exceeds the volume of sales during the relevant period. It is so because some portion of the fixed cost will get included in the ending inventory. This method, can therefore, be used by managers to inflate profits by showing an increase in production.
Full costing method is generally method for external reporting purposes. For decision making and internal reporting purposes, managers prefer to use variable costing method. Under, variable costing method, fixed expenses (all type) are treated as period costs and are not included in the product costs. Only the variable costs of production are included in producting costs. This method relies on the premise of "Contribution" margin which is commonly used as the basis for decision making in various complex situations/scenarios.
Full costing method will not preferably be used in the following 2 situations:
1) decisions relating to special orders
2) where a make or buy decision is required to be made
In both the above cases, we will have to consider only the relevant costs (which are generally variable in nature) in order to make a decision. For instance, a company operating at 70% of the capacity can accept a special order if the price offered by the customer exceeds the variable cost of producing those units. It is so because the fixed manufacturing costs will have to be incurred by the company irrespective of the fact whether it accepts or rejects the special order.
