Answer:
d. making comparisons to direct attention to why differences in costs exist across companies.
Explanation:
- A benchmark is a simple comparison or evaluation of the business processes that measure productivity and time and costs.
- Used to measure the performance using specific indicators like cost, productivity and time per unit also referred to as the best practice of increasing the performance of the company.
- It has certain stages like the selection of subjects, definition of the process, identification of potential partners and collection of data.
Answer:
Annual ordering cost=$32.142
Explanation:
Annual ordering cost = Annual demand/order quantity × ordering cost per order
Annual demand = 15 × 12 = 180 units
Kindly note that there are 12 months in year.
Annual Ordering cost = 180/28 × $5= $32.142
Annual ordering cost=$32.142
Answer:
First let us define the nature of each of the following as per Balance sheet of a company:
Payroll payable- Liability
FICA taxes withheld- Liability
Federal taxes- Liability
410(k)- Liability
Explanation:
Effect of Transaction on assets and liabilities:
- Payroll expense Debit will have no impact
- Payroll payable, Federal taxes, FICA and 401(k) will increase the current liability.
- And when they are subsequently paid, cash will be credited hence decreasing the current assets and all these current liabilities shall be debited, hence decreasing the current liability portion.
