Answer and Explanation:
The journal entries are shown below:
1
Vacation Benefit Expense $13,000
To Vacation Benefit Payable $13,000
(Being vacation benefit expense is recorded)
2
Warranty Expense $18,000
To Estimated Warranty Liability $18,000
($12,000 × 10 % × $15) = $18,000
(Being warranty expense is recorded)
These two entries need to be passed
The number of parts used for the wheels is,
(300,000 wheels) x (2 parts/wheel) = 600,000
For the seats,
(600,000 seats) x (3 parts/seat) = 1,800,00
From the calculation above, the ratio of wheels to total number of parts is 0.25 which means that the overhead allocated for the wheels should be equal to $165,000. The rest of the money should be for Sam, totaling to $495,000.
The answer that best fits the blank provided above is A SUBORDINATED DEBENTURE. Subordinated debenture is also known as subordinated debt. This kind of debt that ranks just below other loans whenever the company files bankruptcy. This is what is received instead of the liquidation proceeds.
Answer: When employees are provided with a conducive environment they perform better than normal and with good products and services customers are satisfied hence more profit. The CEO should ensure all department work with same goal for the benefit of the organization
Explanation:
Companies tend to focus on the non-economic goals such as providing a good place for employees to work, good product and services to the customers and acts as a good citizen in the society. Achieving these goals are costly and doing so might interfere with profit maximization but in long term achieving them is beneficial to the company. When employees are provided with a conducive environment they perform better than normal and with good products and services customers are satisfied hence more profit. The CEO should ensure all department work with same goal for the benefit of the organization
