Answer:
Lamination= $50,000
Explanation:
Giving the following information:
Metro Inc. has two production departments:
Lamination and Molding
Three service departments:
Human Resources, Technology Support, and Purchasing.
The $200,000 costs of Human Resources are allocated based on the number of employees in each production department.
The Lamination department has 40 employees.
The Molding department has 120 employees.
Proportion of employees:
Lamination= 40/160= 25%
Molding= 120/160= 75%
Allocation:
Lamination= 200,000*0.25= $50,000
Molding= 200,000*0-75= $150,000
Answer:
Bank Reconciliation Statement as at October 2:
Balance as per checkbook $601
Add: Electronic transfer $2,400
Interest $4
Less: Bank charge ($5)
Balance as per bank statement $3,000
Explanation:
A bank reconciliation statement is a statement prepared periodically to reconcile the balance in the cash book with the balance shown on a bank statement.
The process starts with identifying transactions that do not (do) appear in the cash book and those that do not (do) appear in the bank statement, which did not appear in the other. Errors are also identified and corrected during the process. After this, the reconciliation statement is prepared to agree the two sources of balances.
Test marketing, the consumers don’t even know it’s being tested
Answer:
$220 million
Explanation:
According to given information in question:
Assets = $400 million
Liabilities = $180 million
Accounting Equation:
Assets = Equity + Liabilities
$400 million = Equity + $180 million
Equity = $400 million - $180 million
Equity = $220 million
Based on the accounting equation, Prosian Italia's owners' equity is equal to $220 million.
Answer:
a. Budgets are detailed forward-looking financial reports based on expected income and expenses.
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.
The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
It is typically used by various organizations or companies due to the fact that, it's tied directly to the strategy and tactics of a company on an annual basis. Also, it is used to set a budget for marketing efforts while anticipating on informations about the company.
