Answer:
- Purchase of large-scale machinery to mold each case.-<u> Major Equipment
</u>
Major equipment are large scale type assets.
- Purchase of cleaning fluids for maintaining manufacturing equipment - <u>Supply </u>
Supply goods are bought to enable the company maintain their equipment.
- Purchase of accounting services for tax preparation - <u>Business Service</u>
They are services purchased to maintain the business.
- Purchase of bulk plastics to be molded into cases - <u>Raw Materials</u>
These are the commodity goods that will be used to make finished products.
- Purchase of multifunction laser printers for office use - <u>Accessory Equipment </u>
Accessory equipment are light in nature but are still needed to help in the operations of the business.
- Purchase of leather straps to be fastened to finished cases - <u>Component Part</u>
- Purchase of plastic glues to attach decorations to finished cases - <u>Process Material</u>
These are products that will be used in the production process.
Answer:the satisfaction a person gets from consumption
Explanation:
Answer:
letter b is correct.<em> Optimizing one's local area without full knowledge of supply chain needs. </em>
Explanation:
For supply chain management to be optimally optimized, global scope information is needed to make decision-making more secure. Information technology can be a good solution for providing relevant information that will help integrate supply chain components to help you make decisions and meet specific local area and supply chain needs.
Answer:
The answer is: C
Explanation:
This costing question assesses the stages of completion of inventory during the manufacturing process. The significant point of information is: all materials are added at the beginning of the process, meaning at the end of the period, materials are fully complete, that is, no more materials will be added to the ending work in process. However, the conversion costs are yet to be fully utilised. In this case, equivalent units (partial units computed as completed units for purposes of costing at the end of a financial period) will have to be calculated to reflect the stage of completion.
Materials cost: 5000 units at 100% completion yields 5000 units for costing
Conversion costs: 5000 units at 20% conversion completion is equal to: 5000*0.2= 1000 equivalent units
The costing calculation for ending work in process is as follows:
Materials cost: 5000 units at $5.00 per unit = $25,000
Conversion cost: 1000 units at $3.00 per unit = $3000
The total cost for ending work in process is the sum of the materials cost and conversion cost = $28,000
Answer:
numerous cost pools and numerous cost drivers
Explanation:
Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
In Financial accounting, one of the most widely used activity-based costing technique is the time-driven activity-based costing.
Time-driven activity-based costing (TDABC) avails business owners the opportunity of reporting their costs on an ongoing basis (real time) which give details about the various cost of doing business, as well as the time spent on them respectively.
Cost pool is simply the amount of money spent by a firm on a particular activity.
Generally, an activity-based costing uses numerous cost pools such as manufacturing cost or customer services and numerous cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.
