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3 years ago

Definition of a stakeholder

1 answer:

6 0

1.
(in gambling) an independent party with whom each of those who make a wager deposits the money or counters wagered.
2.
a person with an interest or concern in something, especially a business.

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Hornsby has a single production department, and uses a process-costing system. The balance in its Work-in-Process account on Jan

leva [86]

Answer:

Correct option is 02.

Explanation:

Cost of finished goods inventory = Work in process beginning + Direct material, Direct labor and Manufacturing overhead - Work in process ending

= 68,000+450,000-86,000

= $432,000

Hence, the journal entry on December 31, will be as under:

Date General Journal Debit Credit

December 31 Finished goods inventory $432,000

Work in process inventory $432,000

3 0

3 years ago

In January 2019, Rankine Company paid $8,500,000 for land and a building. An appraisal estimated that the land had a fair value

White raven [17]

Answer:

$200,000

$400,000

$373,333

$454,493

Explanation:

Land is not depreciated. Only the building would be depreciated

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

$6,000,000 / 30 = $200,000

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)

Book value in year 1 = Cost of asset - Depreciation expense of year 1

Book value in year in subsequent years = previous book value - that year's depreciation expense

Depreciation expense in 2019 = (2/30) x $6,000,000 = $400,000

Book value in 2020 = $6,000,000 - $400,000 = $5,600,000

Depreciation expense in 2020 = (2/30) x $5,600,000 = $373,333

8 0

3 years ago

Shiffon Electronics manufactures music player. Its costing system uses two cost categories, direct materials and conversion cost

sattari [20]

Answer:

$932 per unit

Explanation:

The computation of direct materials cost per equivalent unit is shown below:-

Work in process ending 100% complete in material = 840 + 290

= 1,130

Total cost = Direct material + Direct materials costs added during March

= $346,000 + $707,500

= $1,053,500

Material Equivalent unit cost = Total cost ÷ Units to account for

= $1,053,500 ÷ 1,130

= $932 per unit

7 0

4 years ago

Which pricing strategy has the advantage of being simple to calculate but has the disadvantage of ignoring demand and competitiv

Verdich [7]

Answer: cost based pricing

Explanation:

Cost-based pricing is when the pricing is based on the production cost, the manufacturing cost and also the distribution cost.

The price of such good or service will be derived when a fraction of the manufacturing costs is added to the selling price. This sum will be required to generate the profit for the product.

Even though it is easy to calculate, it ignores demand and competitive conditions.

4 0

3 years ago

ven for straightforward scope guidance, such as the inventory standard not being applicable to not-for-profit entities or regula

valina [46]

Straightforward scope guidance, such as the inventory standard not being applicable to not-for-profit entities or regulated utilities, should formally document the scope evaluation in your issues memo is true.

<h3>How does inventory work?</h3>

Inventory refers to all the products, services, and supplies that a business keeps on hand with the intention of reselling them for a profit. If a newspaper seller uses a vehicle to deliver newspapers to customers, just the newspaper will be considered inventory.

<h3>What categories of inventories exist?</h3>

The four types of inventory that are employed the most frequently are raw materials, work in progress (WIP), finished items, and maintenance, repair, and overhaul (MRO) (MRO). You can control your inventory more effectively and manage it better if you are aware of the different types of inventory you have.

To know more about Inventory visit:

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5 0

2 years ago