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Serggg [28]
3 years ago
12

Express one particular cost issue that you have seen as a project manager or team member that affected the project either positi

vely or negatively. Clearly identify what was done to rectify the issue and describe the impact to the project.
Business
1 answer:
Liula [17]3 years ago
4 0

Answer:

one particular cost issue that I noticed as a team manger is the inability to keep our budget in line due to additional costs that kept coming up intermittently. This cost issue almost cost us the entire project.

Explanation:

At the execution phase of the project I was managing, additional costs that needed immediate attention drove us to emergency mode at a point with a huge budget overrun that pushed us to the brink of project shutdown.

To rectify the issue, I called for  a meeting with my team and the following steps were taken

  1. we extended the time for the completion of the project.
  2. Requested for the services of a professional accountant to prepare a comprehensive budget that will give cater for emergencies.
  3. We developed good processes and habits will help significantly reduce the likelihood that your project budget will turn into a catastrophe such as weekly reviews.
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How could an accident impact production quality and affect your company's profits?
notka56 [123]

Answer:

The correct options could be 2, 3 and 4.

Explanation:

When an accident happens in a production unit, usually the work is stopped to make the things up and put them back to work. If workers gets injured due to that accident, they are replaced with the new workers immediately, and to hire the workers for this job immediately may result in the hiring of less competent workers that might do the same job in more time, thus reducing the productivity and can harm the quality of the product due to less knowledge or training about the job. Secondly, when accident happens, the work is stopped up till all security checks are done. So a lot of time is wasted and when the work gets start again, the quality could slip in effort to make up for the lost time. In this way the quality of the product may be affected and the profits of the organization may get down.

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3 years ago
Elliot wants to open a checking account.
Paraphin [41]

Answer:

The common differences in benefits and or fees include :

1. Minimum opening amount

2. Withdrawal limitation - maximum spending or withdrawal depending on age

3. Cost of notification on transaction and monthly statement or hard copy statement fee.

4. Return deposit charge - fee charged on a bounced cheque

5.Overdraft charge - fee charge on unfulfilled commitment

Explanation: The benefits attached and the charges or fees incurred in managing a checking account may differ depending on the policy and business process of the financial establishment.

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3 years ago
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A company sold 10,000 shares of its common stock at par value for a total of $45,000. What two accounts are affected by the tran
noname [10]

Answer:

Cash and contributed capital

Explanation:

The journal entry to record the sale of common stock is shown below:

Cash A/c Dr $45,000

   To Common stock A/c $45,000

(Being the common stock is sold)

For recording this transaction, we debited the cash account as the sale is made which increases the asset and credited the common stock account because the common stock is sold which reduces the equity balance.

8 0
3 years ago
Cavy Company estimates that total factory overhead costs will be $660,000 for the year. Direct labor hours are estimated to be 1
Kitty [74]

Answer:

A...=$6.6; B=$3,696 and $5,280

Explanation:

A. To calculate the predetermined factory overhead rate,

Given

overhead costs = $660,000

Direct labor hours = 100,000.

overhead rate = overhead cost/labor hours

= $660,000/100000

=$6.6

B. To calculate the amount of factory overhead applied to Job 345 if the amount of direct labor hours is 560 and Job 777 if the amount of direct labor hours is 800

Given

Job 345 direct labor hours is 560

Job 777 direct labor hours is 800

Therefore

Factory overhead for job 345 = direct labor hours × predetermined factory overhead rate

= 560hours × $6.6

=$3,696

Factory overhead for job 777 = direct labor hours × predetermined factory overhead rate

= 800hours × $6.6

=$5,280

C. Journal entry for April

Add the overheads the two current jobs

$3,696 + $5,280= $8,976

Now record $8,976 in debit column against current work

record $8,976 in credit column against factory overhead

Account debit credit

1. current work $8,976

2. factory overhead $8,976

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