Answer:
Management
Explanation:
Management is an important part of the business organization. It focuses on manages the activities of the business organization. There are mainly five managerial functions that help the organization to run in a smooth manner and accomplish its goals and objectives in an efficient and effective manner.
The five managerial functions are planning, organizing, directing, controlling and the staffing, Each one is played an important role while managing the business activities.
Hence, the most appropriate word is management
Answer:
Letter c is correct. <u>Management Science.</u>
Explanation:
The correct alternative corresponds to the theory of management science.
This theory can be considered a contemporary management approach, whose central objective is to use several scientific methods to assist the company in reaching its objectives and goals.
That is, there is the use of a study of solutions of problems and techniques so that the use of resources and the decision-making process are potentialized for the production of a good or service.
This approach is often used in human organizations, as there are strong links in its implementation with the economy, management, management consulting, engineering, and others.
Answer:
Fixed overhead spending variance $
Budgeted fixed overhead cost (12,000 hrs x $2) 24,000
Less: Actual fixed overhead cost <u>26,000</u>
Fixed overhead spending variance <u> 2,000(A)</u>
Explanation:
In this case, we need to calculate the standard fixed overhead application rate, which is the ratio of Budgeted fixed overhead cost to budgeted direct labour hours (normal capacity). Fixed overhead spending variance is the difference between budgeted fixed overhead cost and actual fixed overhead cost. Budgeted fixed overhead cost is budgeted hours multiplied by standard fixed overhead application rate.
Answer:
Yes, it is acceptable to use to use two separate accounts.
When recording the application of overhead the credit should be to: Manufacturing Overhead Control
Explanation:
For ease of accounting, a temporary account called manufacturing overhead control account is created. In this account, actual overhead costs are recorded on the debit side of the while overhead costs applied to Work in Process using predetermined rates are recorded on the credit side of the account.
The data reported on the manufacturing overhead control within a period includes all indirect costs incurred during the production process they include salaries, etc.
Answer:
Option (A) is correct.
Explanation:
The Journal entry is as follows:
Cash A/c Dr. $400,000
To common stock A/c $160,000
To Paid-in capital in excess of par A/c $240,000
(To record the original sale of the stock)
Workings:
Cash = Number of shares sold × Selling price of each share
= 20,000 × $20
= $400,000
Common stock = Number of shares sold × Par value
= 20,000 × $8
= $160,000
Paid-in capital in excess of par = $400,000 - $160,000
= $240,000
