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2 years ago

Garvin's ________ definition of quality states that if the customer is satisfied, the product has good quality.

1 answer:

5 0

Garvin's USER BASED definition of quality states that if the customer is satisfied, the product has good quality.
David Garvin is an Havard professor who wrote a book titled 'Managing quality'. In his book, Garvin summarized five major approaches to defining quality. The approaches are: product based view, user based view, transcendental view of quality, manufacturing based view and value based view.<span />

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In accounting, currency, coins, checks, money orders, and funds on deposit in a bank are recorded in?

Dafna1 [17]

In accounting, currency, coins, checks, money orders, and funds on deposit in a bank are recorded in cash.

<h3>What is cash in a bank in accounting?</h3>

Cash in Bank refers to the current balance in checking or savings accounts or other accounts of a similar nature held in the name of the company or business requesting the certificate. Do not include amounts from personal bank accounts or retirement accounts.
Every month, the bank will normally send the account holder an official bank statement that lists all of the transactions that occurred on the account that month. Account information can be found on bank statements, including account numbers and a thorough list of deposits and withdrawals.
There are three different forms of accounting transactions based on the exchange of money: cash transactions, non-cash transactions, and credit transactions.

In accounting, currency, coins, checks, money orders, and funds on deposit in a bank are recorded in cash.

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1 year ago

Koebel Corp uses a job order costing system with manufacturing overhead applied to products on the basis of direct labor hours.

Lynna [10]

Answer: See explanation

Explanation:

a. Calculate the predetermined overhead rate Overhead Rate per hour

Predetermined Overhead rate will be the estimated total manufacturing overhead divided by the estimated total direct labor hours. This will be:

= $ 921,600/51,200

= $ 18

(b) Calculate how much manufacturing overhead will be applied to production

Manufacturing overhead that'll be applied to production will be the predetermined overhead rate multiplied by the actual total direct labor hours. This will be:

= $ 18 × 48,900 direct labor hours

= $ 880,200

The Actual Overhead Incurred = $902,900 while the manufacturing overhead applied = $880,200. This shows that overhead is underapplied due to the fact that manufacturing overhead applied is less than the actual overhead that is incurred.

Therefore, the amount of overhead that was underapplied will be:

= $ 902,900 - $ 880,200

= $ 22,700

(d) What account should be adjusted for over-or underapplied overhead? Should the balance be increased or decreased?

Based on the scenario in the question and the answers calculated, the cost of goods sold should be increased.

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3 years ago

Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of ac

AnnZ [28]

The precedence diagram for the problem above is attached. See the definition of a precedence diagram and the probability calculations below.

<h3>What is a precedence Diagram?</h3>

A precedence diagram is an optical or graphical representation tool that displays a project's activities.

<h3>What is the probability of finishing the project by the 24th day or less?</h3>

Recall that:

z = (Specified Time - Path's mean)/Path's Standard Deviation.

Hence for z₂₁

(21 − 20.5)/1.118 = 0.447 ≈ 0.45.

Hence the probability is: P(Z<0.45) =0.6736

(21 − 21.5)/1.344 = −0.3721 ≈ −0.37

Hence the probability is: P(Z<-.37) = 0.3557

(21 − 19.5)/.726 = 2.066 ≈ 2.07

Hence the probability is: P(Z<2.07) = 0.9808

Following through on the above, the project will be finished in less than 21 days is given as:

P = 0.23499920921

P ≈ 0.2350

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2 years ago

For accounting purposes, the business entity should be considered separate from its owners if the entity is:________

CaHeK987 [17]

For accounting purposes, the business entity should be considered separate from its owners if the entity could be a proprietorship, corporation or partnership.

<h3>What is a business entity?</h3>

It refers to the organization created by an individual or individuals to conduct business, engage in a trade or partake in similar activities. It ia also an organization founded by one or more natural persons to facilitate specific business activities or to allow its owners.

There types of business entities includes the sole proprietorship, partnership, LLC, corporation, etc

Hence, the business entity should be considered separate from its owners if the entity could be a proprietorship, corporation or partnership.