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Allisa [31]
3 years ago
5

How would you ensure that proper plans are installed for the creditors section which was been managed poorly in the future?

Business
1 answer:
olasank [31]3 years ago
4 0
I'm not sure whether you have any options, but here are some of the ways you can ensure that proper plans are installed for the creditors section in the future:
1. Proper handing and monitoring of resources which includes systems, documentation, and procedures - this is very important, to take care of everything so that there are no mistakes
2. Finances must be reviewed correctly, either it is external or internal - unless you do this, you are facing a risk of losing yours, as well as creditors' money
3. Perform and conduct series of simulations before actual implementation - you need to know whether your changes will work before you actually introduce them
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ivann1987 [24]

Answer: (4) Requirement analysis

Explanation:

 The requirement analysis is one of the process of determine the actual user expectation for building the new product with the help of new modifications.

The requirement analysis is one of the phrases of SDLC (Software development life cycle). The requirement analysis is also known as requirement engineering.

According to the question, the requirement analysis is one of the software development life cycle phase in which the information system are produced by using the report according to the organization quality.

Therefore, Option (4) is correct.

3 0
3 years ago
what do people mean when they say that it is better to balance the economy than to balance the budget?
hammer [34]
I guess because the economy falling apart and the budget keeps going up.
7 0
3 years ago
Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and
love history [14]

Answer:

Dillon Products

1. Journal entries for (a) through (f)

a) Debit Raw Materials Account $325,000

   Credit Accounts Payable $325,000

To record the purchase of raw materials on account.

b) Debit Work in Process $232,000

   Debit Manufacturing overhead $58,000

   Credit Raw materials account $290,000

To record the transfer of raw materials to WIP and Overhead.

c) Debit Work in Process $60,000

   Debit Manufacturing overhead $120,000

   Credit Wages & Salaries $180,000

To record the transfer of labor cost to WIP and Overhead.

d) Debit Manufacturing overhead $75,000

   Credit Depreciation Expense- Equipment $75,000

To record the transfer of depreciation expense to Overhead.

e. Debit Manufacturing Overhead $62,000

   Credit Expenses Payable $62,000

To record other overhead incurred on account.

f. Debit Work In Process $300,000

   Credit Manufacturing Overhead $300,000

To record the overhead applied on the basis of 15,000 machine hours at $20 per machine hour.

2. T-accounts:

Manufacturing overhead

Account Title                   Debit        Credit

Raw materials             $58,000

Wages & Salaries        120,000

Depreciation- Equip.     75,000

Expense Payable          62,000

Work in Process                             $300,000

Finished Goods                                   15,000

Work in Process Account

Account Title                     Debit        Credit

Raw materials account  $232,000

Wages & Salaries               60,000

Manufacturing overhead 300,000

Finished Goods                               $592,000

Finished Goods

Account Title                     Debit        Credit

Work in Process           $592,000

Manufacturing overhead  15,000

3. Journal Entry for item (g):

Debit Finished Goods $607,000

Credit Work in Process $592,000

Credit Manufacturing overhead $15,000

To record the cost of manufactured parts, including the under-applied overhead.

4. Cost of goods sold = 10,000 *$607,000/16,000 = $379,375

(While Ending Inventory = 6,000 *$607,000/16,000 = $227,625.)

Explanation:

a) Data and Calculations:

Estimated manufacturing overhead = $4,800,000

Estimated machine hours = 240,000

Overhead rate = $4,800,000/240,000 = $20 per machine hour

Actual cost data for January:

Number of machine parts = 16,000

Raw materials purchased on account = $325,000

Raw materials cost:

 Direct materials = $232,000 (80% of $290,000)

 Indirect materials = $58,000 (20% of $290,000)

Labor cost

 Direct labor = $60,000 ($180,000 * 1/3)

 Indirect labor = $120,000 ($180,000 * 2/3)

Manufacturing overhead:

 Depreciation = $75,000

 Others = $62,000

 Indirect materials = $58,000

 Indirect labor = $120,000

Total actual overhead incurred = $315,000

Machine hours actually worked = 15,000

b) Other Accounts

1. Expenses Payable

Account Title                   Debit        Credit

Manufacturing overhead               62,000

2. Depreciation Expense - Equipment

Account Title                   Debit        Credit

Manufacturing overhead              $75,000

3. Raw Materials Account

Account Title                   Debit        Credit

Accounts Payable      $325,000

Work in Process                             $232,000

Manufacturing overhead                   58,000

4. Accounts Payable

Account Title                   Debit        Credit

Raw Materials                                $325,000

c) The manufacturing overhead applied is $300,000 (15,000 machines hours actually used multiplied by $20 overhead rate), while the actual overhead costs incurred total $315,000.  So there is an under-applied overhead of $15,000 which is charged to Finished Goods in order to obtain the correct cost of 16,000 custom-made machined parts.

7 0
3 years ago
A company’s accountant is trying to prepare an adjusted trial balance from the list of accounts below. Cash $ 12,000 Retained Ea
Alik [6]

Answer:

114000

Explanation:

4 0
3 years ago
A large firm in the automotive aftermarket business wants to improve its current situation, which is characterized by excess inv
oksano4ka [1.4K]
<span>Yes,Supply chain management will be helpfull to automotive aftermarket business in this scenario.Supply chain management is designed to coordinate and integrate all the activities from raw materials to product consumption.Supply chain management is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage</span>
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3 years ago
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