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Answer: D - A disclosure note is required when the loss is remote and the amount can be reasonably estimated
Explanation:
A contingent liability is an obligation that might arise from an event that would occur in the future.
A contingent liability isn't disclosed when payment is remote.
A contingent liability is recorded when:
1. it is probable the event would occur.
2. there is a reasonable estimate the amount of the loss.
I hope my answer helps.
Answer:
Actual manufacturing overhead = 195%
Budgeted manufacturing overhead rate = 180%
Explanation:
The computation of actual and budgeted manufacturing overhead rates for 2017 is shown below:-
Particulars Budgeted for 2017 Actual result for 2017
Direct material
cost $2,250,000 $2,150,000
Direct manufacturing
labor costs $1,700,000 $1,650,000
Manufacturing overhead
costs $3,060,000 $3,217,500
Actual manufacturing
overhead 195%
Budgeted manufacturing
overhead rate 180%
Therefore for computing the actual manufacturing overhead we simply divide the manufacturing overhead cost by direct manufacturing labor cost of actual result for 2017 while for computing the budgeted manufacturing overhead rate we simply divide the manufacturing overhead cost by direct manufacturing labor cost of budgeted for 2017.
Answer:
A response must be sent within 5 business days
Explanation:
When a customer complaint is made it is required that the agent must send a response within 5 business days.
In the event that a response is not sent within the 5 days, a non response letter is sent to the agent that requires him to respond within 2 days.
Termination of the agent is initiated when the agent again fails to respond within the extra 2 days.
Complaints are made against agents and the questionnaire is sent to the agents to gain their own view of what occurred.
Answer:
Justification/ Recommendation Report
Explanation:
Since you have conducted the research and you have been given the power to determine a new provider, a recommendation or justification report is the best report to write in this situation. This is because you have found the new provider worthy by the standards of your research and it has plans that suit your company the most, you will therfore have to write a report recommending that new provider and also give reason as to why you are recommending that provider(justification).
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