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Jobisdone [24]
2 years ago
13

Apex Manufacturing Corporation mass production eight different products. The controller who is interested in strengthening inter

nal control over the accounting for materials used in production is most likely to implement a(n)A. Economic order quantity (EOQ) system.B. Job-order cost accounting system.C. Perpetual inventory system.D. Segregation of duties among production personnel.
Business
1 answer:
cupoosta [38]2 years ago
6 0

Answer:

C. perpetual inventory system

Explanation:

Based on the information provided within the question it can be said that the controller is most likely to implement a perpetual inventory system. This is a system that documents transactions as they happen (stock coming in or going) completely autonomously and efficiently. This would save time and money by strengthening internal control over the accounting for materials.

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The capital projects fund of Hood River completed construction of an addition to its city hall at a cost of $4,000,000. The city
Vanyuwa [196]

The capital projects fund account for the 10 percent retainage as (B) II only.

<h3>What is retainage?</h3>
  • Retainage is a percentage of the agreed-upon contract price withheld until the work is substantially completed to ensure that the contractor or subcontractor will fulfill its responsibilities and complete a construction project.
  • Retention is money kept back by one party in a contract as security for unfinished or defective work.
  • Assume the contract is worth $20,000 and you're submitting a paid app after finishing 25% of the work.
  • So you earned $5,000 during the pay period, but retainage is 5%. The current progress payment has been reduced by $250.
  • As a result, the "Amount Due for this Request" will be $4,750.

So, in the given situation the capital projects fund account for the 10 percent retainage as (II) the credit for $400,000 to Contracts Payable-Retained Percentage, that is (B) II only.

Therefore, the capital projects fund account for the 10 percent retainage as (B) II only.

Know more about retainage here:

brainly.com/question/24101126

#SPJ4

The correct question is given below:
The capital projects fund of Hood River completed the construction of an addition to its city hall at a cost of $4,000,000. The city council approved payment of the amount due to the general contractor, less a 10 percent retainage. How should the capital projects fund account for the 10 percent retainage?

I. As a credit of $400,000 to Deferred Revenue-Retained Percentage

II. As the credit for $400,000 to Contracts Payable-Retained Percentage.

A. I only

B. II only

C. Either I or II

D. Neither I nor II

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1 year ago
Which of the following statements is NOT CORRECT? a. An important step in applying the corporate valuation model is forecasting
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Answer:

E. The corporate valuation model discounts free cash flows by the required return on equity.

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