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3 years ago

Raynor Company has the following data:

Business

1 answer:

Svet_ta [14]3 years ago

5 0

Answer:

The cost of goods manufactured. $ 205,000 

Explanation:

Raynor Company

The Cost of Goods Manufactured Statement 

Direct labor 76,000

Direct materials used 84,000

Total manufacturing overhead 60,000

Total Manufacturing Costs $ 220,000

Add Beginning work in process 30,000

Less Ending work in process 45,000

The cost of goods manufactured. $ 205,000 

The cost of goods manufactured gives an estimate of the costs incurred in a given period . It includes total manufacturing costs and beginning work in process . The ending work in process is deducted from it .

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A chef would cook the beans and grains separately when making a hearty broth because A. it allows the broth to develop more body

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C the chef prefers a light clear broth

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4 years ago

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After hurricane katrina, many states reevaluated their coastal area building requirements. these new building codes represented

Svetradugi [14.3K]

Answer: product specifications

Explanation: In simple words, product specifications refers to the criteria which is used to decide the products that one should use. It directs the specifications that are required to choose a product among other alternatives.

Thus, from the above we can conclude that the correct answer is product specification.

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4 years ago

The Sons of Knute had a hunting lodge up on Loon Lake which burned down last winter. They plan to rebuild it this summer and are

agasfer [191]

Answer:

y = 2,250 sq.ft

Hence, 2,250 sq.ft is the efficient size for the new hunting lodge.

Note: It can vary according to the cost per sq.ft. In this problem, we have assumed it as $15.

Explanation:

Data Given:

Organization members = 50

Equation given = 1.2 - 0.0004y = for the goods and size of the lodge.

where, y is the size of the hunting lodge in sq.ft.

Required = What is the efficient size for the new hunting lodge? = So, we need to find the value of y.

Solution:

First of all, we need to assume the cost for each sq.ft required to build this hunting lodge. As we have not given the cost. If we do not put the value then we will get a general answer in terms of variables. So, it is better to assume some value.

Let's assume the value = $15 per sq.ft

And we have 50 members in the organization so, multiply it with the equation given above.

X = 50 x (1.2 - 0.0004y)

X = 60 - 0.02y

So in order to find y, we need to equate this X to our assumed value of $15.

60 - 0.02y = 15

60 - 15 = 0.02y

45 = 0.02y

y = 2,250 sq.ft

Hence, 2,250 sq.ft is the efficient size for the new hunting lodge.

Note: It can vary according to the cost per sq.ft. In this problem, we have assumed it as $15.

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4 years ago

"suppose the chester company expands to other markets with good designs, high awareness and easy accessibility, what strategy wo

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4 years ago

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The following situations suggest a strength or a weakness in internal control. Identify each as a strength or weakness, and giv

Mkey [24]

Answer: Options A and C are strengths while options B and D are weaknesses. See explanation below.

Explanation:

a. All employees must take at least five consecutive days off each year.

This is a strength in internal control. This would help to maintain stability in operational process and ensure leave days are effectively utilized. It also prevents staff from taking the leave days in piecemeal and sporadic manner thereby disrupting the operational process and causing team instability. It is also used to ensure leave days are promptly utilised and well accounted for.

b. The accounting department orders merchandise and approves invoices for payment.

This is a weakness in internal control. There should be a check and balance in this regard. In some organizations, proper scrutiny of the vendor and invoice is done by the Procurement Unit and the Expense Control Unit respectively. Even within the accounting department, there is approval hierarchy. Also, the unit within accounting department that is making the order should not be the one to approve the transaction.

c. Cash received over the counter is controlled by the sales clerk, who rings up the sale and places the cash in the register. The daily sales are recorded in the accounting records by the accounting department.

This is a strength in internal control as it ensures checks and balances. Fraud and error can be detected through this means. The accounting department should verify the transactions to the relevant supporting document before recording the transaction in the system.

d. The officer who signs checks need not examine the payment packet because he is confident the amounts are correct.

This is a weakness in internal control in the sense that checks signed by the officer is binding in the court of law. The officer cannot claim ignorance if anything goes wrong. There is therefore a need for proper scrutiny and relevant questions asked before checks are signed.

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4 years ago