All categories

3 years ago

Ball bearings,inc. faces costs of production as follows:

2 answers:

8 0

<span>Ball bearings can face both fixed and variable costs of production. If we take a look at the fixed costs these would be: the cost of the factory, the cost of the machine, the maintenance of the machine which are needed to create the ball bearings etc. The variable costs are: the wages of the employee, the cost of the raw materials, and utilities required to create the ball bearings.</span>

Tju [1.3M]3 years ago

8 0

The two costs of productions that Ball bearings, Inc. could face is Fixed and variable cost of production.

The fixed cost, in this case, would be the cost of machines or equipment, the cost of the factory, the cost of the maintenance of the machine required to create ball bearings. However the variable cost is the cost of the material used in the production, the salary of the workers or employees and the utilizes that are needed to produce the ball bearing

<h2>Further Explanation</h2>

Variable cost refer to expenses that change based on the company's production output. A company production cost increases or decreases based on its production output or volume. The variable costs go up and come down or fall as the volume of production increases.

A very good example of variable costs is the cost of materials used and packaging

However, a fixed cost refers to the cost that doesn’t change regardless of the number of goods that are sold or produced by a company. They are expenses that must be paid by a company.

The two types of cost that companies can have are:

Fixed cost
Variable cost

The fixed cost and the variable cost determines that a company’s total cost.

Some examples of fixed cost are:

Salaries
Insurance
Interest expenses
Property taxes and many more

LEARN MORE:

Ball bearings,inc. faces costs of production as follows: brainly.com/question/6859736
variable costs and fixed costs brainly.com/question/10799031

KEYWORDS:

fixed costs
variable cost
salaries
volume
production

You might be interested in

Entries for Costs in a Job Order Cost System Royal Technology Company uses a job order cost system. The following data summarize

Nutka1998 [239]

Question Completion:

Journalize the entries to record the summarized operations.

Answer:

Royal Technology Company

Journal Entries:

Debit Materials $496,110

Credit Accounts Payable $496,110

To record the purchase of materials on account.

Debit Work in Process $362,560

Debit Factory Overhead $54,170

Credit Materials $416,730

To record materials requisitioned for production and general factory use.

Debit Work in Process $413,900

Debit Factory Overhead $97,090

Credit Factory labor $510,990

To record factory labor used in production.

Debit Factory Overhead $119,070

Debit Selling Expenses $183,560

Debit Administrative Expenses $109,140

Credit Accounts Payable $411,770

To record costs incurred on account.

Debit Factory Overhead $22,820

Debit Selling Expenses $19,350

Debit Administrative Expense $13,890

Credit Prepaid Expenses $56,060

To record expired prepaid expenses.

Debit Factory Overhead $22,820

Debit Depreciation Expense - Office Equipment $33,740

Debit Depreciation Expense - Office Building $66,480

Credit Depreciation Expenses $123,040

To allocate depreciation expenses.

Debit Work in Process $282,780

Credit Factory Overhead $282,780

To record overhead costs applied to jobs.

Debit Finished Goods Inventory $654,870

Credit Work in Process $654,870

To transfer completed jobs to the finished goods inventory.

Debit Cost of Goods Sold $635,020

Credit Finished Goods Inventory $635,020

To record the cost of goods sold.

Explanation:

Journal entries are made when a transaction is initially recorded. They show the accounts to be debited and the ones to be credited.

4 0

3 years ago

if are researchers is using data that are low in cost and save time which type of data is this likely to be?

olchik [2.2K]

Answer:

<h2>Secondary data</h2>

Explanation:

The data collected form the first hand sources by using interviews and surveys is called primary data. The secondary data is gathered from surveys and studies which have already been conducted by other people. Mostly researchers use secondary data in their project as the researcher doesn't have to spend time, energy and money in collecting them. They can devote their time to research instead of worrying about gathering data.

8 0

3 years ago

Connie works in the Human Resource department of a company and is

GenaCL600 [577]

Answer:

Explanation:

A This scenario describes a payroll fraud ; This is a form of fraud where an employee or an employer manipulates the payroll system in order to fraudulently receive an un earned wages.

B The employees that Connie was paying to their account that she controls are called Ghost employees. These are fictitious person put on a payroll for fraud purposes.

C The fact that it took the company 5 years to discover the fraudulent practice indicates a weak internal control environment

Some of the actions that the company failed to do are
No proper authorization in place before employees are added to payroll
No segregation of duties as Connies appears to have been the person that add employees to payroll , approve and also disburse salary
There has been no headcount of employees for a long time
The entire payroll system has not been audited and reviewed for a long time

8 0

3 years ago

if you choose between two summer jobs, what is the one you do not choose called? b. opportunity cost c. decision at the margin d

aleksandr82 [10.1K]

Opportunity cost because it was an option but not the right choice

8 0

3 years ago

Measuring a company's business transactions and communicating those measurements for decision-making purposes in the form of fin

telo118 [61]

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.

8 0

3 years ago