Answer:
The purpose of a job cost sheet is to record the various costs that went into the manufacturing of a product or the provision of a service. This will enable the company know how much the process cost so that the company can understand the cost of the product better and make informed decisions based on this.
The information generally included in a job cost sheet include:
- Direct labor hours
- Direct materials used and their cost
- Material requisition number
- Manufacturing overhead rate and the basis (eg labor hours or machine hours).
- Total cost of production.
Answer:
The YTM is 6.45%
Explanation:
Yield to maturity is the annual rate of return that an investor receives if a bond bond is held until the maturity.
Face value = F = $1,000
Coupon payment = $1,000 x 7% = $70
Selling price = P = $1,038.50
Number of payment = n = 9 years
Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]
Yield to maturity = [ $70 + ( $1,000 - $1,038.5 ) / 9 ] / [ (1,000 + $1,038.5 ) / 2 ]
Yield to maturity = [ $70 - $4.28 ] / $1,019.25 = $65.72 /$1,019.25 = 0.0645 = 6.45%
Answer:
The answer is substitute products.
Explanation:
Substitute products are defined as two or more products that can be used for the same function for the same consumer. We can say that the tax planning software is a form of substitute product since it provides the same function that a certified public accountant also does. Buyers product refer to good made by manufacturers that are sourced by buyers to be sold by a distribution company. Competitive alternatives have no specific meaning exclusive to the term; the same applies to rivalry products.
Answer:
This type of transaction is not classified as an operating activity.
Explanation:
From the question we are informed about Gannon Corporation who uses the indirect method to prepare its statement of cash flows. Following this approach, a gain on sale of equipment was deducted from net income in computing net cash flow from operating activities. In this case, The most likely reason for this adjustment is that this type of transaction is not classified as an operating activity.
The indirect method produces
statement of cash flows by starting with net income/loss, along with making subsequent additions/deductions of values solely from amount for non-cash revenue as well as expense items which result to cash flow from operating activities. Operating activities can be regarded as daily activities of a particular company that brings about production and selling their products, as well as generating revenues, and
general administrative with maintenance activities.
Answer:
Being a member of any of these professional bodies gives you an edge in the Accounting profession.
Institute of Chartered Accountant of Nigeria
Institute of Chartered Accountant of Ireland
Institute of Chartered Accountant of England and Wales
Association of Accounting Technicians
Association of Certified Chartered Accountants
Chartered Institute of Management
and others
Explanation:
