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3 years ago

in creating the master budget, the second budget a company prepares is the production budget. a. True b. False

Business

1 answer:

Rzqust [24]3 years ago

5 0

Answer:

In creating the master budget, the second budget a company prepares is the production budget.

a. True

Explanation:

When a company prepares the master budget, it first prepares the sales budget, followed by the production budget. The production budget calculates the costs of materials, labor, and overhead based on the number of units to be manufactured within the budget period. The units of products are derived from the sales forecast and the planned amount of ending finished goods inventory.

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Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexp

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Better Houses, Inc. has been contracted to build an addition on the Joyners' house. It built half of the addition and then unexpectedly announced that it was not going to finish the job. Such a desertion of work is called "Abandonment of contractual obligations".

<h3>What is contractual obligations?</h3>

Contractual obligations are responsibilities that each party is bound by law to fulfill under the terms of the agreement.

Each contract involves one or both parties exchanging anything of value in connection with a variety of duties, such as goods, services, money, etc.

Elements of a Contract are-

Offer: An offer was made when one of the parties pledged to carry out or refrain from carrying out a specific action in the future.

Promise of consideration: A promise of something of value in return for the intended conduct or inaction. This can be demonstrated by a substantial outlay of resources, a promise to provide a service, a commitment not to do something, or reliance on the promise. The incentive for the parties to enter into the agreement is known as consideration.
Acceptance: The offer was unmistakably accepted. Acceptance can be demonstrated through words, actions, or by carrying out the contract's requirements. In general, the terms of the acceptance must match those of the offer. If not, the acceptance is interpreted as a counteroffer and rejection.

To know more about the contractual obligations, here

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1 year ago

On December 31, 2019, the unadjusted credit balance of the Allowance for Overvaluation of Inventories: Hope Branch ledger accoun

Zigmanuir [339]

Answer:

Journal entries

Date Particulars Debit Credit

31, Dec 19 Investment in Branch Office $132,000

To Inventories $110,000

To Allowance for Overvaluation of $20,000

Inventories

31, Dec 19 Profit and loss $18,400

To Investment in Branch Office $18,400

31, Dec 19 Allowance for Overvaluation $10,000

of Inventories

To Realized Gross Profit: Branch Sales $10,000

Workings

1. Unrealized Inter-company Inventory Profit = (132,000/120) * 20 = $22,000

Shipment to Branch = 132,000 - 22,000 = $110,000

2. Unrealized Inter-company Inventory Profit = (60,000/120) * 2 = $10,000

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3 years ago

An investor purchases a stock for $39 and a put for $0.55 with a strike price of $32. The investor sells a call for $0.55 with a

Archy [21]

Answer:

The maximum profit and loss for this position is $3 and -$7 respectively

Explanation:

The computations are shown below:

For maximum profit:

= Strike price at the sale - stock price + put price - call price

= $42 - $39 + $0.55 - $0.55

= $3

For maximum loss:

= Strike price at purchase - stock price + put price - call price

= $32 - $39 + $0.55 - $0.55

= -$7

Simply we take the difference between the strike price ,and the stock price and after that the put and call price are adjusted

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3 years ago

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3 years ago

Direction: Arrange the following words.

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Answer:

TOWEL
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3 years ago