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3 years ago

what process include devising and maintaining a workable scheme to ensure that the project addresses the organization's need

Business

1 answer:

nadezda [96]3 years ago

6 0

Answer:

Planning

Explanation:

Planning of a project is needed to provide a guide to sponsors, stakeholders, the team, and the project manager on project phases and schedule.

When planning is done it avoids delays, identifies desired goals, reduces risk, and effectively delivers expected result.

Lack of planning causes waste of resources and missed deadlines on the project.

Steps in a project plan can include the following:

- Meeting with stakeholders

- Set goals

- Define deliverables

- Create a schedule

- Perform risk assessment and identify issues

- Present the plan to stakeholders

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July 1 Purchased merchandise from Boden Company for $6,200 under credit terms of 2/15, n/30, FOB shipping point, invoice dated J

Elan Coil [88]

Answer:

July 1

Dr Merchandise Inventory$6,200

Cr Accounts Payable $6,200

July 2

Dr Accounts Receivable $900

Cr Sales $900

Dr Costs of Goods Sold $517

Cr Merchandise Inventory $517

July 3

Dr Merchandise Inventory $105

Cr Cash $105

July 8

Dr Cash $1,900

Cr Sales $1,900

Dr Cost of Goods Sold $1,500

Cr Merchandise Inventory $1,500

July 9

Dr Merchandise Inventory $2,800

Cr Accounts Payable$2,800

July 11

Dr Accounts Payable $800

Cr Merchandise Inventory $800

July 12

Dr Cash $882

Dr Sales Discounts-$18

Cr Accounts Receivable $900

July 16

Dr Accounts Payable $6,200

Dr Merchandise Inventory $124

Cr Cash $6,076

July 19

Dr Accounts Receivable $1,800

Cr Sales $1,800

Dr Cost of Goods Sold $1,200

Cr Merchandise Inventory $1,200

July 21

Dr Sales Returns and allowances $300

Cr Accounts Receivable $300

July 24

Dr Accounts Payable $2,000

Cr Merchandise Inventory $40

Cr Cash -$1,960

July 30

Dr Cash $1,470

Cr Sales discounts $30

Cr Accounts receivable $1,500

July 31

Dr Accounts receivable $7,100

Cr Sales $7,100

Dr Cost of Goods Sold $5,000

Cr Merchandise Inventory $5,000

Explanation:

Preparation of journal entries to record merchandising transactions of Blink Company

July 1

Dr Merchandise Inventory$6,200

Cr Accounts Payable $6,200

July 2

Dr Accounts Receivable $900

Cr Sales $900

Dr Costs of Goods Sold $517

Cr Merchandise Inventory $517

July 3

Dr Merchandise Inventory $105

Cr Cash $105

July 8

Dr Cash $1,900

Cr Sales $1,900

Dr Cost of Goods Sold $1,500

Cr Merchandise Inventory $1,500

July 9

Dr Merchandise Inventory $2,800

Cr Accounts Payable $2,800

July 11

Dr Accounts Payable $800

Cr Merchandise Inventory $800

July 12

Dr Cash $882

($900-$18)

Dr Sales Discounts-$18

(900x.02=$18 sales disc.)

Cr Accounts Receivable $900

(882+18)

July 16

Dr Accounts Payable $6,200

Dr Merchandise Inventory $124

(6,200x.02)

Cr Cash $6,076

($6,200-$124)

July 19

Dr Accounts Receivable $1,800

Cr Sales $1,800

Dr Cost of Goods Sold $1,200

Cr Merchandise Inventory $1,200

July 21

Dr Sales Returns and allowances $300

Cr Accounts Receivable $300

July 24

Dr Accounts Payable $2,000

($2,800-$800)

Cr Merchandise Inventory $40

($2,000*2%)

Cr Cash -$1,960

($2,000-$40)

July 30

Dr Cash $1,470

($1,500-$30)

Sales discounts $30

($1,500x.02)

Cr Accounts receivable $1,500

($1,800-$300)

July 31

Dr Accounts receivable $7,100

Cr Sales $7,100

Dr Cost of Goods Sold $5,000

Cr Merchandise Inventory $5,000

8 0

3 years ago

5. On December 5, CWM paid the $230 telephone bill accrued for November. 6. On December 11, CWM purchased two computers from Del

butalik [34]

Answer:

utilities payable 230

cash 230

to record payment of November bill

Computer 9,800

Cash 400

Account payable 9,400

to record purchase of computers

Explanation:

we will credit cash for the amount paid to cancel the tlephone invoice.

We will write-off the payable recognize in Novemeber when the invoice was received.

We will debit the acquired assets (computer)

credit the amount of cash given

and then credit the remainder to recognize the obligation to pay these computers in the near future.

6 0

3 years ago

When the manager of a local bakery sets goals and then develops a blueprint for how to achieve them, she is_________

tensa zangetsu [6.8K]

Answer:

The answer is: planning

Explanation:

Blueprint refers to a technical model that must be followed in order to achieve something. Setting up blueprint is really important to make sure that the restaurant's operational budget is not used for unnecessary things except the normal operation. It also consists of several steps that needed to be done in order to achieve more.

5 0

3 years ago

You are one of 5 identical firms (i.e., you all have the same costs) that sell widgets. Each day you have a fixed cost of $9 to

g100num [7]

Answer:

a. $1.5; b. 10 units; c. $7; d. $6

Explanation:

There are 5 identical firms in a market.

These firms sell widgets.

The fixed cost of each firm is $9.

The marginal cost of your first through fifth widgets are $1, $2, $3, $7, and $8, respectively.

a. The total variable cost for producing two widgets

= $1 + $2

= $3

The average variable cost

= $\frac{TVC}{Q}$

= $\frac{3}{2}$

= $1.5

b. The firms will supply the level of output where the price is able to cover the marginal cost of production.

At the price level $2.5, the marginal cost of producing 2 units i.e $2 is being covered. So the firms will supply 2 units each. The market supply will be 10 units.

c. The equilibrium price will be such that it is able to cover the marginal cost of production and the average variable cost.

The average variable cost

= $\frac{TVC}{Q}$

= $\frac{13}{4}$

= $3.25

That price is $7, so it will be the equilibrium price.

d. In the long run, the equilibrium price will be determined at the point where price equals ATC.

The total variable cost for producing two widgets

= $1 + $2 + $3 + $7 + $8

= $21

The total cost

= TFC + TVC

= $21 + $9

= $30

The average total cost

= $\frac{TC}{Q}$

= $\frac{30}{5}$

= $6

So, the long run price will be $6.

6 0

3 years ago

Standard costs are:

Fudgin [204]

Answer:

The answer is E.

Explanation:

Standard cost are budgeted cost and are compared with actual cost at the end of the process to determine whether the variance is favorable or unfavorable.

Standard cost is based on the present cost for delivery a product or acquiring a product. Because present cost will be used for budgeting. Sometimes standard cost are based on historical cost will be used to determine the present cost.

3 0

3 years ago