Answer:
Items a) and b)
a) items used currently in the production of goods to be sold items
b) held for resale items currently in production for future
Explanation:
Inventory consists of current assets to be used in production of final goods or are the ones which are final goods and held for sale.
In the given case also, statement a includes raw materials, which are used to make the final good to be sold, which is a part of inventory.
Further, statement b includes work in production or final goods which are currently in production but would be resold.
The items which are kept for their use as like machinery or furniture or which shall be disposed are not inventory but are in fixed assets category.
Answer:
The correct answer is letter "A": Operational control.
Explanation:
Operational control comprises the steps companies take to determine how the firm will conduct its operations. Operational control is the handbook for operations managers where the procedure for each activity in the company is explained in detail so, in front of malpractices, managers will have a clear idea on how to make assessments.
Answer:
The answer is: The overhead variance was $1,700 and it was overapplied
Explanation:
Victryl's estimated overhead cost per labor hour was:
$700,000 / 35,000 = $20 per labor hour
If during February, Victryl had 5,000 direct labor hours, then its estimated cost should have been: $20 x 5,000 = $100,000 estimated overhead cost
The actual overhead cost was $98,300, which is $1,700 less than the estimated cost.
Answer:
24 years
Explanation:
Nper = 15.142
PMT = 0
PV = 1
FV = 2
Type = 0
Rate = Rate(Nper, pmt, -pv, fv, type)
Rate = Rate(15.142, 0, -1, 2, 0)
Rate = 4.68%
Rate = 4.68%
PMT = 0
PV = 1
FV = 3
Type = 0
NPER = NPER(rate, pmt, -pc, fv, type)
NPER = NPER(0.04684, 0, -1, 3, 0)
NPER = 24 years
