A responsibility center is any part of the firm whose manager has control over and is accountable for cost, profit or investment decisions of the part of the firm under his control.
What are the different types of responsibility center?
There are three types of responsibility center as listed below:
-Profit center
-Cost center
-Investment center
A cost center's manager is accountable for the profits of the division without been held responsible for its revenue and profits.
A profit center's manager would be accountable for revenue or sales and profit of the center as well as costs, in other words, the manager is expected to make decisions that minimize costs while also maximizing revenues and profits thereon.
Lastly, an investment center's manager would be able to take decisions bordering on costs reduction, revenue and profit maximization including whether or not to invest in new equipment or assets.
Overall, all of the aforementioned are known as responsibility centers, hence, the correct option is responsibility centers.
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Answer:
The cash flows from operating activities for 2018 is $99,000.
Explanation:
Westfall Industries
Statement of cash flows (extract)
Net income $81,000
Add Loss on the sale of land 4,000
Depreciation expense 8,000
Decrease in current asset 2,000
Increase in current liabilities 4,000
Cash flows from operating activities $99,000
- Decrease in current assets was arrived at by comparing the closing balance of $48,000 to the opening balance of $50,000.
- Increase in current liabilities was arrived at by comparing the closing balance of $40,000 to the opening balance of $36,000.
Answer:
$1150
Explanation:
The ending inventory of Delta diamond using specific identification method will be
Date Purchase Cost
June 1 one purchase $500
July 9 Two purchase $600
September 23 Three purchase $650
-------------------------------------------------------------------------------------
Total cost of goods available for sale $1750
Less: Cost of goods sold -$600
===================================================
Ending inventory $1150
Answer:
15 and 20 feet
Explanation:
The computation of the cost of the material minimized is shown below:
As we know that
Area of rectangle = Length × Width
where,
Length be X
Width be Y
So, the equation is
X × Y = 300 square feet
X = 300 ÷ Y
Now the another equation is
C = 10 × (Y + Y + X) + 5X
C = 20Y + 15X
So we can write
C = 20Y + 15 × 300 ÷ Y
C = 20Y + 4,500 ÷ Y
Now apply the derivatives
So,
DC ÷ DY = 20 - 4,500 ÷ Y^2 = 0
20Y^2 = 4,500
Y = 15
So X = 20
The C = Cost
