A well-written job description should:

jeka94

There is no industry which can not relay on estimation, all industries needs estimation.

The two primary categories of this profession are construction and manufacturing, according to the Bureau of Labor Statistics. It states that more than half of all cost estimators work in the construction industry, where they may further specialize in projects for homes, businesses, industries, or the government.

Cost estimation aids in setting the project budget, planning the required work, and managing new resources. Cost estimates are also of the utmost importance when trying to win over new clients. Before starting actual building, property owners also utilize cost estimates to evaluate the viability of their projects.

Learn more about estimation here

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7 0

2 years ago

Monty Company reports the following financial information before adjustments. Dr. Cr. Accounts Receivable $132,800 Allowance for

creativ13 [48]

Answer: The following journal entries apply:

a) Debit Bad debt expense $32,727.6

Credit Allowance for doubtful accounts $32,727.6

b) Debit Bad debt expense $37,017.6

Credit Allowance for doubtful accounts $37,017.6

Explanation: All the sales revenue are on credit to the tune of $806,700, however, there was sales return and allowance of $51,060, which has to be deducted from credit sales to arrive at the net credit sales of $755,640. This amount would be added to the accounts receivable of $132,800 to arrive at the total accounts receivable of $888,440.

a) 4% of $888,440 is $35,537.6. With credit balance of $2,810 in allowance for doubtful accounts, bad debt expense (addition) is $32,727.6 ($35,537.6 - $2,810).

b) 4% of $888,440 is $35,537.6 and there is a debit balance of $1,480 in allowance for doubtful accounts, bad debt expense (to reinstate allowance account to $35,537.6) is $37,017.6 ($35,537.6 + $1,480).

3 0

3 years ago

You are a cook at a restaurant. you are required to conduct a food inventory at the end of every week. you notice that there are

KonstantinChe [14]

Answer: 150

By inventory, we mean a complete list of items at the end of a business day. In the case of a cook who is required to <span>conduct a food inventory at the end of every week, inventory should include the 25 steaks in the front refrigerator and the 125 in the back freezer. The 18 marinated for tonight's dinner should not be included because it will be consumed that night. The inventory of steaks therefore is 25+125=150.</span>

8 0

3 years ago

At the beginning of 2020, Concord Company acquired a mine for $3,251,600. Of this amount, $124,000 was ascribed to the land valu

Sav [38]

Answer:

A. $737,520

B. $530,320

Explanation:

a. Computation for the total amount of depletion for 2020.

First step is to calculate the Depletion Rate

Depletion Rate = ($3,251,600 - $124,000 + $49,600 + $210,800)/12,100,000

Depletion Rate= $3,388,000/ 12,100,000

Depletion Rate= 0.28

Now let calculate the total amount of depletion for 2020.

2020 Total amount of depletion= 0.28 × $2,634,000

2020 Total amount of depletion= $737,520

Therefore the total amount of depletion for 2020 is $737,520

B. Computation for the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020.

Expense amount charged= ($737,520/$2,634,000)* 1,894,000

Expense amount charged=0.28 *1,894,000

Expense amount charged=$530,320

Therefore the amount that is charged as an expense for 2014 for the cost of the minerals sold during 2020 is $530,320

7 0

3 years ago

Suppose you are trying to understand the effect that an increase in the price of grapes will have on the market for wine.

NemiM [27]

Answer:

The correct answer is option d.

Explanation:

The most effective model to understand the effect of change of a variable on other variable is by assuming other factors to be constant. This simplifies the model and helps in easily understanding the relationship between the two variables.

Though the assumption of other things being constant does not apply in the real world, it is still used as otherwise change in other factors would complicate the model. If several factors change it would be difficult to understand the relationship between variables.

Here, to study the effect of change in the price of grapes on the market for wine, it is necessary to assume other factors such as income, consumer preferences, etc to be constant.

4 0

3 years ago