Answer:
In a production process new raw materials are considered_____ whereas the finished products are considered______
WIP (Work IN Process)
Units for Sale/ Raw Material for other Processes
Explanation:
WIP (Work IN Process)
The raw material in WIP is converted to useful material for other processes.
Work in process consists of materials labor factory overhead or collectively called as conversion costs. In Work in Process these are completed fully or to a certain limit and send to other processes for further work.
Units For sale
Finished goods are ready for sale and send to desired stores or ware houses for storage and further dispatching to retail stores.
Sometimes these units further need servicing or processes in other departments to make a complex unit . In these situations they are considered raw material for other processes.
Answer:
Thus, difference in gross profit = $144 + $144 = $288
Profit as per FIFO is higher than profit as per LIFO
Explanation:
In the given case, as per both the methods computation shall be as follows:
Date Quantity Rate Amount
Mar 1 22 units $29 $638
Jun 16 31 units $30 $930
Nov 28 41 units $37 $1,517
Total 94 units $3,085
Closing units = 18
That means sales = 94 - 18 = 76 units
Thus as per LIFO cost = 41 units @ $37 + 31 units @ $30 + 4 units @ $29
= $2,563
Closing stock = 18 units @ $29 = $522
As per FIFO cost = 22 units @ $29 + 31 units @ $30 + 23 units @ $37 = $2,419
Closing stock = 18 units @ $37 = $666
Thus, difference of closing stock = $666 - $522 = $144
Profit as per FIFO is higher by $144
Cost is higher in LIFO by $2,563 - $2,419 = $144
Thus, difference in gross profit = $144 + $144 = $288
Introduction
“Project risk analysis,” as described by The Project Management Institute (PMI®), “includes the processes concerned with conducting risk management, planning, identification analysis, response, and monitoring and control on a project;./…” (PMI, 2004, p 237) These processes include risk identification and quantification, risk response development and risk response control.
Because these processes interact with each other as well as with processes in other parts of an organization, companies are beginning to measure risk across all of their projects as part of an enterprise portfolio.
Risk management can be as simple as identifying a list of technological, operational and business risks, or as comprehensive as in-depth schedule risk analysis using Monte Carlo simulation. But because risk is a driver in an organization's growth – the greater the risk, the greater the reward – the adoption of a structured enterprisewide project risk analysis program will give managers confidence in their decision-making to foster organizational growth and increase ROI for their stakeholders.
Choosing the right projects
How well an organization examines the risks associated with its initiatives, how well it understands the way that projects planned or underway are impacted by risk, and how well it develops mitigation strategies to protect the organization, can mean the difference between a crisis and an opportunity.
Examples abound of companies that have seen their fortunes rise or drop based on the effectiveness of their risk management – a pharmaceutical company makes headlines when its promising new drug brings unforeseen side effects. Or a large telecom corporation pours millions of dollars into perfecting long distance, while new technologies are presenting more exciting opportunities.
Today that pharmaceutical is distracted by lawsuits and financial payouts, finding itself with a shrinking pipeline of new drugs. The telecom, on the other hand, after using a portfolio risk management software application to rationalize and rank its initiatives, made the decision to shift its research dollars away from perfecting long distance and into developing VOIP -- rejuvenating and reinforcing its leadership position.
Answer:
Part(A):
Total expenses in connection with condo:
= 2000 + 6500 + 2000 + 1400 + 2500 + 14500
= $28,900
Assuming Alexa receives $20,000 inn gross rental receipts, she will incur losses = 20000 -28,900 = (8,900)
As Alexa's AGI from all sources other than the rental property($200,000) is higher than $150,000, she will not be able to deduct any amount of loss against her active income.
Therefore the loss is not deductible and rental activity has no effect on her AGI.
Part(B):
Assuming that Alexa’s AGI from other sources is $90,000.
Since her AGI is less $100,000, she will be able to deduct loss of $8,900
Therefore, rental activity loss will reduce Alexa's AGI to = 90,000 - 8.900 = 81,100
The rental activity loss will reduce her AGI by $8,900 and her AGI would be 81,100.
Answer:
Segregation of duties.
Explanation:
Segregation of duties -
The concept of segregation of duties is based on the shared responsibilities .
It refers to the method of assigning different person for different task , is referred to as segregation of duties .
It is the fundamental building block for running a business efficiently , in order to reduce any management risk .
In the business it is the major case of any fraud or error , as one person is responsible for maximum duties functioning in the business .
Therefore , it is import to divide various duties .
Hence , from the given scenario of the question,
The correct answer is segregation of duties .
