Answer:
Units Produced in the month of March: 10,810 Units
Explanation:
Production for the month of march can be estimated using the following formula:
Productions units for the month of March = Projected Sales for the month + 10% of the following months's sales as ending inventory - Opening Inventory
Units Produced for the month Units
Projected Sales for the month 10,500
Add: 10% of the following month's sales as ending inventory 1,360
(13,600 x 10%)
Less: Opening inventory (1,050)
Units produced for the month of March 10,810
It is the example of the decision of an arbitrator. At its
discretion, a court may grant the equitable remedy of injunction against breach
of a contractual duty where damages would be inadequate. When a breach of
contract occurs, the non-breaching party is required to take reasonable steps
to lessen or mitigate the damages that he may sustain.
Answer: The journal entry for this returned purchase is as follows;
Dr. Sales Returns and Allowances $500
Dr. Merchandise Inventory $150
Cr. Accounts Receivable $500
Cr. COGS $150
Explanation:
The sales account is the revenue of the good/item purchased. The merchandise inventory is a type of an assets. The journal entry is important to a business so that they can track expenses incurred for the returned item. A new entry will need to be made when a new sale is made.
Answer: $18,100 unfavorable
Explanation: It should be noted that the total variable overhead variance for the month of June is $18,100. Nonetheless, to our surprise it appears unfavourable despite the fact that Speaker City uses a standard variable overhead rate of hours per unit at a cost of per hour.
Answer:
The current manufacturing environment would be described as:
c. Make to Order (MTO).
Explanation:
The 'make to order' strategy means that the company accepts orders during the production lead time and produces products based on the customer's specifications. The goods will not be stocked after production, instead they will be shipped to the customer who requested for them immediately after production. It is unlike 'make to stock' production strategy, where orders result from production planning based on sales estimates.