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lina2011 [118]
3 years ago
6

The amount of money you earn at your job, and the manner in which you receive that money, is called_____.

Business
1 answer:
zhenek [66]3 years ago
6 0

I believe it’s Compensation

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Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $45 per unit.
ASHA 777 [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Its beginning inventory of chairs was 100 units at $45 per unit.

Purchases:

The first was a 174-unit purchase at $51 per unit

The second was a 212-unit purchase at $54 per unit.

During the period, it sold 294 chairs.

I will calculate the cost of goods sold and ending inventory under FIFO, LIFO, and weighted-average methods.

FIFO (first-in, first-out):

COGS= 100*45 + 174*51 + 20*54= $14,454

Ending inventory= 192*54= $10,368

LIFO (last-in, first-out):

COGS= 212*54 + 82*51= $15,630

Ending inventory= 92*51 + 100*45= $9,192

Weighted-average method:

Weighted-average cost= (45 + 51 + 54)/3= $50

COGS= 294*50= $14,700

Ending inventory= 192*50= $9,600

3 0
3 years ago
Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct
Paladinen [302]

Answer:

Overhead at the end of the year was $3,570 under-applied

Explanation:

For computing the ended overhead amount, first, we have to compute the predetermined overhead rate. The formula is shown below:

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

= $521,220 ÷ 21,900 hours

= $23.8

Now we have to find the actual overhead which equals to

= Actual direct labor-hours × predetermined overhead rate

= 21,750 hours × $23.8

= $517,650

So, the ending overhead equals to

= Actual manufacturing overhead - actual overhead

= $521,220 - $517,650

= $3,570 under-applied

8 0
3 years ago
The philosophy of producing a high-quality product or service and achieving quality in every aspect of the business and its rela
Vera_Pavlovna [14]

Answer:

Total Quality Management (TQM)

Explanation:

The philosophy of producing a high-quality product or service and achieving quality in every aspect of the business and its relationship with the customer, with a focus on continuous improvement in the quality delivered to customers is <u>Total Quality Management (TQM)</u>

Total Quality Management (TQM): It is a continous process of detecting and reducing error from the process of producing goods and services. This help in maintaining quality of the product by improving process and training worker for better performance. It also help in improving customer´s experience.

There are several tools used in total quality management (TQM):

  • Continuous improvement.
  • Six Sigma.
  • Employee empowerment.
  • Benchmarking.
  • Just-in-time.
  • Taguchi concept.
  • Knowledge of TQM tools.
8 0
3 years ago
Suppose the money supply (as measured by checkable deposits) is currently $850 billion. The required reserve ratio is 20%. Banks
Dmitrij [34]
The proposal was incidental to a plan to require gold certificate reserves be kept behind Federal Reserve notes. No.
7 0
2 years ago
Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on
sesenic [268]

Answer and Explanation:

The Journal entry is shown below:-

a. Raw material Dr, $80,000

                To Account payable $80,000

(Being purchase of raw material is recorded)

Here we debited the raw material as it increased the assets and we credited the accounts payable as  it also increased the liabilities

b. Work in process Dr, $62,000

   Manufacturing overhead Dr $9000

           To Raw material $71,000

(Being raw material used is recorded)

Here we debited the work in progress ,  the manufacturing overhead as it increased the assets and expenses and credited the raw material as  it decreased the assets

c. Work in process Dr, $101,000

   Manufacturing overhead Dr, $11,000

                       To Cash $112,000

(Being paid to labor is recorded)

Here we debited the work in progress ,  the manufacturing overhead as it increased the assets and expenses and credited the cash as  it decreased the assets

d. Manufacturing overhead Dr, $175,000

          To Accumulated depreciation-Equipment $175,000

(Being manufacturing overhead is recorded)

Here we debited the manufacturing overhead as it increased the expenses and we credited the accumulated depreciation of depreciation as it reduced the assets

5 0
3 years ago
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