Answer:
Production= 26,000
Explanation:
Giving the following information:
budgeted sales of 23,000 units, targeted ending finished goods inventory of 9,000 units, and beginning finished goods inventory of 6,000 units.
<u>To calculate the production required, we need to use the following formula:</u>
Production= sales + desired ending inventory - beginning inventory
Production= 23,000 + 9,000 - 6,000
Production= 26,000
Answer:
The correct answer is True.
Explanation:
Economic efficiency is the efficiency with which an economic system uses productive resources to meet its needs. According to Todaro the concept means in matters of "production, use the factors of production in combinations of lower cost, in consumption, allocation of expenses that maximize consumer satisfaction (utility)".
Economic or income equality, social equality and cultural equality would be achieved if economic, social and cultural rights - second generation human rights - are fulfilled. Equity or equal resources is essential both to fully exercise civil and political rights and to have a decent life.
Failure by a promissory notes maker to pay the amount due at maturity is known as Dishonoring a note.
A dishonored note is a that promissory note which has not been paid by a debtor in a given reasonable amount of time. It causes the creditor to write off the recorded revenue as a bad debt.
With the help of promissory note, a buyer can make a short-term commitment to pay any supplier for merchandise within the stated time period and also at a certain interest rate.
In order to properly record a dishonored note in the financial journal of the organization one must first decide whether he is expecting to collect payment eventually or not.
A bill is always considered as dishonored either by non-acceptance or by non-payment of the bill.
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Answer: • provide a permanent record for the cost of goods sold account
• monitor costs incurred to date and to predict and control costs for each job.
• provide a subsidiary ledger for the finished goods inventory account.
Explanation:
Job cost sheet refers to the document that is used for the recording of the manufacturing costs and it is used as a subsidiary ledger for the work in process account due to the fact that it contains every details about the job in process.
From the options given, the job cost sheets can be used to:
• provide a permanent record for the cost of goods sold account
• monitor costs incurred to date and to predict and control costs for each job.
• provide a subsidiary ledger for the finished goods inventory account.
Answer:
<u>cost of goods manufactured schedule</u>
Raw Materials ($9,180 + $55,020 - $17,480) $46,720
Direct Labor $51,740
Manufacturing overheads :
indirect labor $6,510
factory insurance $4,700
machinery depreciation $4,380
machinery repairs $1,990
factory utilities $3,740
miscellaneous factory costs $1,980
Add Opening Work In Process $5,670
Less Closing Work In Process ($7,610)
Cost of goods manufactured $119,800
Explanation:
Cost of goods manufactured schedule shows a summary of results (cost) obtained from manufacturing activity during the production period.
