Improvement Planning is part of the A.) PROJECT MANAGEMENT process.
Project management process includes initiating, planning, executing, controlling, and closing the work of the team to achieve specific goals based on a specific criteria.
Improvement planning is in the latter part of the project management process wherein it is done after feedback from initial execution is given.
<span>Prepaid expenses are eventually expected to become expenses when their future economic value expires.
A common example of prepaid expenses are insurance/insurance polices because they are something you pay for in advance even though you may not need until a time in the future. Prepaid rent is also a prepaid expense because you are paying in advance for a future month. These items until used are considered an asset to the company. </span>
Basically, a firm's prime cost equals the total direct costs of production which includes the cost of raw materials and labor.
- The prime cost equation is {Cost of raw materials + Direct labor}
The overhead cost refers to those cost incurred while running a firm but can not be linked to creation of a product or service.
- Overhead expenses is the cost remaining after deduction of direct labor, direct materials and direct expenses.
In conclusion, the prime cost and overhead cost are both significant in production of finished goods.
Read more about overhead cost
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Answer:
$202,400
Explanation:
The computation of the net cash flow from operating activities for year 2 is shown below:
= Net income + depreciation expense + decrease in account receivable - increase in merchandise inventory - decrease in account payable + increase in income tax payable
= $157,800 + $34,800 + $10,300 - $15,300 - $4,000 + $18,800
= $202,400
