Answer:
<u>True</u>
<u>Explanation:</u>
Remember, no business operations would exist if there aren't any identified customer needs to solve.
Also, we need to bear in mind that Operations management activities are done in any business in other to efficiently (profitably) process raw materials, labor, etc into the goods and services needed by consumers.
Explanation:
In the scenario described above, it can be identified that the behavioral characteristic of the manager is that he is an aggressive person.
This type of behavior has as main characteristics the expression of your ideas, needs and feelings to the detriment of those of other people, this can be seen in the question in the excerpt that says that the manager made an important decision for the business without consulting his superiors because you believe they feel the same way about the economy as you do.
Although this aggressive behavior can sometimes be expressive, it can also lead to hostility.
Answer:
c. Common Stock $50,000 and Paid-in Capital in Excess of Par Value $20,000.
Explanation:
The journal entry for issuance of the common stock for cash is shown below:
Cash A/c Dr $70,000
To Common stock $50,000 (5,000 shares × $10)
To Additional paid in capital A/c - Common stock A/c $20,000
(Being the common stock is issued for cash)
While recording this entry it increased the assets so the cash account is debited while at the same time it also increased the common stock for $50,000 and the additional paid in capital in excess of par value i.e $20,000 so both these account are credited
Answer:
False
Explanation:
As we know that the closing would be conducted by the closing agent not with the seller agent. The closing agent could be the worker or the employer etc
Therefore the given statement is false
Hence, it is not a true statement
So the same is to be relevant
Answer:
Option (D) is correct.
Explanation:
Given that,
Beginning work in process = $4,000
Ending work in process in finishing department = $6,000
Cost transferred = $47,000
Direct material = $15,000
Direct labor = $46,000
Overhead = $22,000
Cost incurred in finishing department:
= Beginning work in process + Cost transferred + Direct material + Direct labor + Overhead
= $4,000 + $47,000 + $15,000 + $46,000 + $22,000
= $134,000
Cost of goods transferred to the Finished Goods Inventory account:
= Cost incurred in finishing - Ending work in process
= $134,000 - $6,000
= $128,000
