Answer:1. Make provision for warranty claims.
2. Disclosure of contingent liability
3. No cost should be recorded.
Explanation:
Warranty is an assurance made by firms to make good any agreed loss that is incurred by the customers in usage of goods and services whiting the period of the warranty. Since an estimation can be made based on firms history of sales a provision has to be made for possible warranty.
Since it's only probably that a loss will be Incurred by the firm by going into the contract and the financial statement has not been issue the firm should made a contingent liability disclosure in the report.
The self insurance is not a contract with a third party, in this vein no cost will be accrued until the loss is actually suffered.
Answer:
Follows are the solution to this question:
Explanation:
- The Conversion costs applied on the direct materials into finished products is transformation price.
- The Period costs include costs for research and innovation, marketing, allocation, and also customer service.
- The direct material, extra production overhead, is equivalent to Prime costs.
- In the installation of a car metal, tires, motors, poling, floorboards, and dashboards have been used. Even though manufacturing companies can trace the cost to multiple ones or batches of automobiles for components (such as cargo and importation duties), such expense to cars are considered Direct costs.
- The costs are the costs, that can be tracked instantly to a(n) Cost objects are Direct costs.
- Initially, Product costs are known to income statement Assets.
- A much less accurate cost figure for both the Cost Object is allocated to the Assigned.
- Indirect costs could not be traced directly to Cost objects.
- The prices of the entire supply (Total costs) chain comprise the prices of all resources.
Answer:
mothly payment = $20126.57
Explanation:
given data
effective interest rate r = 9.38 % = 0.0938
mortage amount P = $200,000
solution
we consider here time period is t = 30 year
so mothly payment formula is
mothly payment = P × r × 
.............1
put here value and we get
mothly payment = 200000 × 0.0938 × 
mothly payment = $20126.57
Flexible budget
Explanation:
A flexible budget is a budget that varies or evolves for volume or market adjustments. The strategy is adjustable and more complex than a static budget. (The quantities of the static budget do not change; they remain unchanged from those defined at the time of planning and acceptance of the static budget.)
For example, various levels of variable price expenditure. All such levels vary with varies in income. The budget then changes, depending on the amount of operation faced by the client.
Answer:
immediate corrective action
Explanation:
Based on the information provided within the question this seems to be an example of immediate corrective action. This is when an individual takes action in response to a problem as soon as the problem arises in order to fix it as fast as possible. This usually occurs as a kind of trigger reaction to that specific problem. Which is what is going on in this situation since they decided to immediately get the machine repaired as soon as the problem presented itself.
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