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3 years ago

The entry to record the flow of direct labor costs into production in a job order cost accounting system is to

Business

1 answer:

Nookie1986 [14]3 years ago

4 0

Answer:

Debit : Work In Process Account and Credit : Salaries and Wages Payable Account

Explanation:

All manufacturing costs are accounted for in a Work in Process Account during manufacture. Therefore Debit the Work In Process Account to show accumulation of the manufacturing costs and Credit the Salaries and Wages Payable Account to show the utilization of labor.

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Kim has just learned that Caribou Coffee is looking for a new source of commercial-grade coffee makers, one of the products she

timurjin [86]

Answer:

Modified Rebuy

Explanation:

Modified Rebuy is the situation or circumstance of buying in which the organization or an individual purchase the goods that have been purchased or bought prior but changes either some other elements or supplier of the previous or prior order.

In this situation. the buyer wants the modification product specifications, suppliers, terms and prices.

So, in this case, Caribou is looking for the new supplier for the product it has bought in the past, which makes the situation of modified rebuy.

7 0

3 years ago

One of the potential benefits to a firm of introducing new-to-the-world products or services is Multiple Choice cost savings. th

Assoli18 [71]

The best answer to this question is the unlisted option of d) establishment of a completely new market.

<h3>Benefits of introducing products to market</h3>

A chance to build a new market that buys the good you sell.
A chance to build strong brand loyalty to the new type of products introduced.

Being the first to bring a product to market is therefore very advantageous as it puts one in the dominant market position in a new market thereby guaranteeing profit.

In conclusion, option d is correct.

Find out more on new products at brainly.com/question/25181857.

7 0

2 years ago

What are reasons why strategic planning may not occur sequentially?

olga nikolaevna [1]

There are several reasons why strategic planning may not take place in order:

When conducting a situation analysis makes it necessary to update the mission statement
When there are insufficient resources to allow the execution plan to proceed
When fresh strategic chances present themselves

Strategic planning is a process carried out by an organization to determine strategy or direction, and make decisions to allocate its resources (including capital and human resources) to achieve this strategy. Strategic planning is a management tool used to manage current conditions to project conditions in the future, so strategic plans are a guide that organizations can use from current conditions to work towards the next 5 to 10 years.

#SPJ4

5 0

2 years ago

For each of the three independent situations below determine the amount of the annual lease payments. Each describes a finance l

MrMuchimi

Answer:

a. The annual lease payment for Situation 1 is $12,774.47.

b. The annual lease payment for Situation 2 is $71,486.40.

c. The annual lease payment for Situation 3 is $57,412.37.

Explanation:

The annual lease payments can be calculated using the formula for calculating loan amortization as follows:

P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)

Where,

For Situation 1

P = Annual lease payments = ?

A = Fair value of leased asset = $62,000

r = interest rate = Lessor’s rate of return = 10%, or 0.01

n = Number of years of lease term = 5

Substituting all the figures into equation (1), we have:

P = ($62,000 * (0.01 * (1 + 0.01)^5)) / (((1+0.01)^5) - 1)

P = $12,774.47

Therefore, the annual lease payment for Situation 1 is $12,774.47.

For Situation 2

P = Annual lease payments = ?

A = Fair value of leased asset = $421,000

r = interest rate = Lessor’s rate of return = 11%, or 0.11

n = Number of years of lease term = 10

Substituting all the figures into equation (1), we have:

P = ($421,000 * (0.11 * (1 + 0.11)^10)) / (((1 + 0.11)^10) - 1)

P = $71,486.40

Therefore, the annual lease payment for Situation 2 is $71,486.40.

For Situation 3

P = Annual lease payments = ?

A = Fair value of leased asset = $186,000

r = interest rate = Lessor’s rate of return = 9%, or 0.09

n = Number of years of lease term = 4

Substituting all the figures into equation (1), we have:

P = ($186,000 * (0.09 * (1 + 0.09)^4)) / (((1 + 0.09)^4) - 1)

P = $57,412.37

Therefore, the annual lease payment for Situation 3 is $57,412.37.

6 0

3 years ago

St. Vincent's, Inc., currently uses traditional costing procedures, applying $800,000 of overhead to products Beta and Zeta on t

tatyana61 [14]

The overhead cost that should be allocated to Zeta via activity-based costing is $356,000.

The following formula for determining the overhead cost allocated to Zeta:

= Zeta pool no 1 ÷ total pool no 1 × pool cost + zeta pool no 2 ÷ total pool no 2 × pool cost + zeta pool no 3 ÷ total pool no 3 × pool cost

= 2,800 ÷ 4,000 × $160,000 + 55 ÷ 100 × $280,000 + 750 ÷ 3,000 x $360,000

= $356,000

Therefore we can conclude that the overhead cost that should be allocated to Zeta via activity-based costing is $356,000.

Learn more about the overhead here: brainly.com/question/11950737

6 0

3 years ago