Answer:
c. when the company corrects poorminusquality goods or services before delivery to customers.
Explanation:
Internal failure costs are costs incurred when the company corrects <u>poorminusquality goods or services before delivery to customers.</u>
Answer:
Beginning work in process= $7000
Explanation:
Giving the following information:
Cost of goods manufactured by $112,000.
Direct materials cost of $52,000
Direct labor cost of $37,000.
Overhead cost of $26,000.
The work in process balance at June 30 equaled $10,000
Work in process on June 1?
Cost of goods sold= Beginning work in process + direct material + direct labor + manufacturing overhead - ending work in process
112000= ? + 52000 + 37000 + 26000 - 10000
Beginning work in process= 112000 - 52000 - 37000 - 26000 + 10000= $7000
Answer:
Different organizations face different constraints and rules. Not-for-profit organizations have more ways to accumulate capital (such as issuing stocks and bonds) and benefit from economies of scale. But small firms do not have to pay certain kinds of taxes.
Explanation:
Non profit organization such as NGOs have more ways to accumulate capital through international support as a result of the nature of task they are carrying out. International organization that supports NGOs are United Nation, UNICEF, WHO, IMF and world bank among others.
while small firms does not pay certain kind of taxes as a result of the nature of type of business they are into, this limits or reduces their tax payments
<span>The demand curve for corn depends on what market it is needing it. If corn is needed for food for humans or for animals and if the need is normal or in addition to a current or outstanding reason makes a difference.</span>
Answer:
The correct answer is d. accounting cycle.
Explanation:
The accounting cycle, also known as the accounting process or registration flow, is the period in which the Company chronologically and reliably records each transaction in its respective Daily Book in order to analyze, prepare and prepare financial information.
The accounting process is made up of all the steps that must be followed since an accounting event occurs until it is introduced into the system and, therefore, is reflected in the financial statements.
The stages of the accounting cycle begin with the identification of the accounting fact, such as with a sale of merchandise. The next step is to generate an accounting document that supports this transaction and allows it to be reflected in quantified accounting in monetary units and with a specific date.
Once this document is generated (delivery note or invoice) the operation is recorded in the Daily Book. At the end of the accounting cycle, which is usually from January to December, the transactions are transferred to the general ledger. After some regularizations (amortizations, reclassifications between short term and long term, calculation of the result, etc.) the accounting is closed to generate the final financial statements.
