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Dmitry_Shevchenko [17]
4 years ago
11

Emily jones, a junior design artist with a studio called eye for design, was known to be very good at her job. she had a lot of

experience from working on numerous projects and she often mentored new employees successfully. she was paid well and her colleagues and peers, some of whom emily knew for four years, appreciated her helpful and lively nature. it came as a surprise to everyone when emily resigned after the recent round of annual appraisals. during her exit interview, emily said that the only reason that she was taking this move was because she had a strong feeling that she was stagnant in her career. her reason for leaving is the _____ in her job in this company.
Business
1 answer:
Thepotemich [5.8K]4 years ago
3 0

Answer:

Lack of growth

Explanation:

Emily jones, a junior design artist with a studio called eye for design, was known to be very good at her job. she had a lot of experience from working on numerous projects and she often mentored new employees successfully. she was paid well and her colleagues and peers, some of whom emily knew for four years, appreciated her helpful and lively nature. it came as a surprise to everyone when emily resigned after the recent round of annual appraisals. during her exit interview, emily said that the only reason that she was taking this move was because she had a strong feeling that she was stagnant in her career. her reason for leaving is the lack of growth in her job in this company.

A strong feeling of being stagnant is normally a sign that the growth process has been truncated., because Emily didnt seem to be learning anything new

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Answer:

Date                    Explanation             Debit       Credit

January 1            Petty Cash               $200

                           Cash                                          $200

Explanation:

Step 1: Journal Entries to Establish the Fund on January 1

Date                    Explanation             Debit       Credit

January 1            Petty Cash               $200

                           Cash                                          $200

Being the establishment of petty cash fund

Step 2: Preparing Journal Entries to reimburse funds on January 8

Date                    Explanation             Debit       Credit

January 8            Postage                   $74

                            Transportation        $29

                            Delivery                   $16

                            Miscellaneous         $43

                           Cash                                          $162

Being the reimbursement of Petty Cash Fund.

Petty Cash is usually a fund established by an organisation to take care of day to day expenses. At the end of a period or at the exhaustion of the fund, an account is given and then the amount spent is reimbursed.

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3 years ago
Laval produces lamps and home lighting fixtures. Its most popular product is a brushed aluminum desk lamp. This lamp is made fro
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Answer:

Part 1.  

Plantwide overhead rate for Laval using direct labor hours as a base. is $1.60 per Direct Labor Hour

Part 2.

Total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate is $78.76

Part 3. Compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.

                                         Fabricating                  Assembly              

Overheads (R)                      390000                         410000      

Department Cost Driver      152000                         290000      

Overhead Rate                         2.57                                 1.41            

Therefore Overhead Rates are :

            Fabricating Department $ 2.57 per Machine Hour  

            Assembly Department $1.41 per Labor Hour          

Part 4. Use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

Direct materials ($270000/21000)                                         12.86

Direct labor:

       Fabricating department(6500/21000×$29)                   8.98

       Assembly department(15200/21000×$26)                   18.82

Overheads:

       Fabricating department(152000/21000×$2.57)           18.60

       Assembly department (290000/21000×$1.41)             19.47

Total manufacturing cost per unit                                         78.73

Explanation:

Part 1.  Plantwide overhead rate for Laval using direct labor hours as a base.

Overhead Rate = Total Overheads/Total Direct Labor Hours

                          = $1.60 per Direct Labor Hour

                                            Fabricating                  Assembly         Total      

Overheads (R)                      390000                         410000       800000

Direct Labor Hrs                  210000                         290000       500000

Overhead Rate                                                                                   1.60

Part 2. Total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate

Direct materials ($270000/21000)                                         12.86

Direct labor:

       Fabricating department(6500/21000×$29)                   8.98

       Assembly department(15200/21000×$26)                   18.82

Overheads:

       Fabricating department(210000/21000×$1.60)            16.00

       Assembly department (290000/21000×$1.60)            22.10

Total manufacturing cost per unit                                         78.76

Part 3. Compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.

Part 4. Use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

8 0
4 years ago
ECG Company recorded two sales on March 1 of $20,000 and $30,000 under credit terms of 3/10, n/30 (3% discount if paid within 10
AlladinOne [14]

Answer:

In net method the discount not given is recorded as revenue and in gross method the discount allowed is recorded as expense.

Explanation:

ECG Company

Journal Entries

<u>Net  Method</u>

Date               Particulars                         Debit             Credit

1 March        Accounts Receivable       19400

                     Accounts Receivable     29,100

                              Sales                                              48500

( Calculation of net Sales ( 20,000* 3% = 600, 30,000* 3%= 900) 20,000- 600= 19,400 and 30,000- 900= 29,100)

8 Mar             Cash                         19400

                          Accounts Receivable                      19400

Receipt of 20,000 Sales within discount period.

25 Mar          Cash                        30,000

                      Accounts Receivable                          29,100

                    Interest Revenue                                        900

Receipt of payment after discount time period.

<u>Gross Method</u>

1 March        Accounts Receivable       20,000 Dr

                     Accounts Receivable      30,000 Dr

                              Sales                                              50,000 Cr

Transactions of Sales on gross method. Here discount is not calculated unless given.

8 Mar             Cash                         19400 Dr

                      Discount Allowed       600 Dr

                          Accounts Receivable                      20,000 Cr

Receipt of 20,000 Sales within discount period.

25 Mar          Cash                        30,000 Cr

                      Accounts Receivable                          30,000 Cr

           Receipt of Sales of 30,000 after the discount period.

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