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2 years ago

Are all warranty costs accounted for under the accrual basis of accounting? explain.

1 answer:

8 0

All warranty costs accounted for under the accrual basis of accounting go under this section unless the repair cost does not have reasonable estimation. If the repair cost does not have reasonable estimation, it goes under the cash basis for accounting. The accrual basis method of accounting is when you record transactions for revenue when earned and expenses as they are incurred.

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Sales management at universal containers wants product managers to become more involved with sales deals that are being delayed

pickupchik [31]

If these were the given choices and I had to choose 2 answers.
A. Use an assignment rule to notify product managers when opportunities are updated.
B. Create a Chatter group to share product information with the sales team, product managers, and customers.
C. @mention product managers in Chatter posts on relevant sales deals.
D. Add the opportunity team, product managers, and customers to libraries containing files relevant to sales deals.

My answers are:
B. Create a Chatter group to share product information with the sales team, product managers, and customers.
C. @mention product managers in Chatter posts on relevant sales deals.

Chatter group is real time. It is faster and more convenient to discuss product details that are needed to boost sales. Rather than looking for a product manager, one can simply post questions and clarifications on the chatter group and everybody can see the answers. It reduces redundancies.

6 0

2 years ago

In order to stay calm in emergency situations, dispatchers and EMT's set aside their emotions during a crisis. After the crisis

crimeas [40]

Answer:

Cognitive reappraisal

Explanation:

In simple words, The term "cognitive reappraisal" relates to a flexible regulation technique that uses cognitive control and executive functioning to reinterpret inputs or events in the surrounding in order to alter their interpretation as well as psychological connotation.

Thus, from the above we can conclude that the correct answer is cognitive reappraisal.

7 0

2 years ago

Answer following question with true or false and explain.A firm's profit margin is 5%, its debt/assets ratio is 56%, and its div

maria [59]

Answer:

False

Explanation:

As a company's sales level increases, its current assets will increase, e.g. cash, inventories, accounts receivables increase. generally, also the fixed assets increase, specially if the firm was previous producing at full capacity even before total sales increased. But as sales increase, not only do the company's assets increase, its current liabilities generally increase also, and its profits should increase. In this case, 60% of the company's profits are reinvested in the company, and the liabilities represent more than half of the total assets. Therefore, it is possible that the company needs external financing, but it is also possible that it doesn't. You cannot assume that the company will necessarily need external financing, because retained earnings and the increase in current liabilities might be enough to finance the company's growth in sales.

8 0

2 years ago

Hogan Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 110 $46 Mar.

Rama09 [41]

Answer:

The answer is: Gross profit = $2,788

Explanation:

Feb. 1 Purchase 110 units $46 per unit
March 14 Purchase 190 units $48 per unit
May 1 Purchase 135 units $ 50 per unit

312 units were sold at $64 per unit, tax rate is 30%

Using FIFO, what is the company's gross profit? We first calculate COGS

Cost of goods sold - 312 units:

110 units at $46 per unit = $5,060
190 units at $48 per unit = $9,120
60 units at $50 per unit = $3,000

Total COGS = $17,180

Income statement for Hogan Industries 2017

Total revenue $19,968

COGS ($17,180)

Gross profit $2,788

Taxes 30% ($836.40)

Net profit $1,951.60

6 0

2 years ago

A company is considering replacing an old piece of machinery, which cost $105,000 and has $55,000 of accumulated depreciation to

asambeis [7]

Answer:

Replacing the old machine would produce a net saving of $1,300

The sunk cost in this situation is the purchase cost (i.e $105,000) of the old machine.

Explanation:

Differential Analysis

Purchase cost of the new machine (83,000)

Savings from annual variable cost(8500×8) 68,000

Variable cost of running the new machine (5,000×8) (40,000)

Scrap value of the old machine 56,300

Differential savings 1,300

Replacing the old machine would produce a net saving of $1,300

The sunk cost in this situation is the purchase cost (i.e $105,000) of the old machine. It is a past cost incurred as a result old decision.

7 0

2 years ago

Are all warranty costs accounted for under the accrual basis of​ accounting? explain.

Are all warranty costs accounted for under the accrual basis of accounting? explain.