A project background and timetables are typical bid proposal elements. True or false?

Specialization and the division of ______ can increase productivity. Please choose the correct answer from the following choices

trasher [3.6K]

Answer:

Specialization and the division of labor can increase productivity.

Explanation:

Specialization is about an invidivual focusing on very specific tasks that are best suited to them according to their skills and knowledge. This concept can be applied to companies and countries, as they specialize on producing a small amount of products they excel at, for having the raw material, knowledge and/or technology to do so.

The division of labor is about breaking down the production process of a good in different parts performed by different people instead of having all workers performing all the tasks. The idea is to let workers be specialists in a small amout of tasks so that they can be more efficient and overall productivity can be greatly increased. This concept was introduced by the 'father of economics' Adam Smith in his book "The Wealth of Nations" released in 1776.

Specialization and division of labor are complementing concepts that bring a company an increase in productivity and helps achieve economies of scale.

3 0

3 years ago

Zisk Co. purchases raw materials on account. Budgeted purchase amounts are: April, $99,000; May, $129,000; and June, $139,000. P

Luba_88 [7]

Answer and Explanation:

The preparation of a schedule of budgeted cash payment for the three months i.e April, may and June is presented below:

Particulars April May June

Purchase $99,000 $129,000 $139,000

Payment made in

Latest Month (70%) $69,300 $90,300 $97,300

Payment made in

Next Month (30%) $29,700 $38,700 $41,700

Cash Disbursements

Particulars April May June

Payment made in

Current Month (70%) $69,300 $90,300 $97,300

Add:

Last Month

Purchases (30%) $41,000 $29,700 $38,700

Budgeted

Cash Payments $110,300 $120,000 $136,000

3 0

3 years ago

On March 31, 2018, Easy Rental Agency Inc.'s trial balance included the following selected unadjusted account balances. The comp

AVprozaik [17]

Answer:

1)

Dr Depreciation expense 1,226

Cr Accumulated depreciation 1,226

2)

Dr Unearned revenue 6,487

Cr Rent revenue 6,487

3)

Dr Interest expense 600

Cr Accrued interest 600

4)

Dr Supplies expense 1,960

Cr Supplies 1,960

5)

Dr Insurance expense 3,618

Cr Prepaid insurance 3,618

6)

Dr Income tax expense 2,600

Cr Income tax payable 2,600

Explanation:

March 31, 2018

Prepaid insurance $14,740 - 3,618

Supplies 2,900 - 1,960

Equipment 22,100

Accumulated depreciation-equipment 5,680 + 1,226

Unearned revenue 9,730 - 6,487

interest payable 600

Income tax payable 2,600

Loan payable, due 2020 20,000

Rent revenue 30,900 + 6,487

Salaries expense 14,500

depreciation expense 1,226

interest expense 600

Supplies expense 1,960

Insurance expense 3,618

Income tax expense 2,600

1. The equipment, which was purchased on January 1, 2017, is estimated to have a useful life of four years. The company uses straight-line depreciation.

depreciation per year = $22,100 / 4 = $5,525

depreciation expense up to March 31, 2018:

$5,525 x 1.25 = $6,906.25 ≈ $6,906

adjustment entry = $6,906 - $5,680 = $1,226

Dr Depreciation expense 1,226

Cr Accumulated depreciation 1,226

2. One third of the unearned revenue related to rent is still unearned at the end of the quarter.

adjusting entry = 9,730 - (9,730 x 1/3) = $6,486.67 ≈ $6,487

Dr Unearned revenue 6,487

Cr Rent revenue 6,487

3. The loan payable has an interest rate of 6%. Interest is paid on the first day of each following month and was last paid March 1, 2018.

interest per month = $20,000 x 6% x 1/12 = $600

Dr Interest expense 600

Cr Accrued interest 600

4. Supplies on hand total $940 at March 31.

adjusting entry = $2,900 - $940 = $1,960

Dr Supplies expense 1,960

Cr Supplies 1,960

5. The one-year insurance policy was purchased for $14,740 on January 1.

insurance expense per quarter = $14,470 x 3/12 = $3,617.50 ≈ $3,618

Dr Insurance expense 3,618

Cr Prepaid insurance 3,618

6. Income tax is estimated to be $2,600 for the quarter.

Prepare the quarterly adjusting entries required at March 31.

Dr Income tax expense 2,600

Cr Income tax payable 2,600

8 0

4 years ago

A company with more production power than is generally utilized for its current production activity can benefit from entering th

Liula [17]

Answer:

a. The company can utilize production facilities to produce greater volumes to meet demand from a larger market, leading to higher productivity, lower cost and greater profitability.

Explanation:

Options are "a. the company can utilize its production facilities to produce greater volumes to meet demand from a larger market, leading to higher productivity, tower cost and greater profitability. b. it will lead to a lower sales volume, which enables the company to free up more production power and require fewer employees. c. it will lead to a lower sales volume, which will reduce production costs and lead to greater production power. d. It will lead to a lower sales volume which means using less production power, enabling employees to have more time to participate in a learning environment."

The question here is how the company will benefit by entering global market. And to enter global market, the company must produce larger volumes. So, the options B, C,& D are not correct. Because the company is looking to produce more and utilize its production capacity to the full to increase the profits by decreasing the costs (economies of scale). Thus, option A is correct.

6 0

3 years ago

The following financial information was obtained from the year ended 2018 income statements for Kringle Automotive and Leihman A

Viefleur [7K]

Answer:

times interest ratio = EBIT / interest expense

1)

Kringle: TIE ratio = ($40,870 - $10,300 - $350) / $350 = 86.34

Leihman: TIE ratio = ($46,320 - $12,080 - $2,000) / $2,000 = 16.12

2)

Kringle was better able to cover its interest expenses since its TIE ratio is much higher than Leihman's (more than 5 times higher). This means that it is much easier for Kringle to pay off the interests on its debt.

8 0

3 years ago