The above statement is true.
- An ongoing, continuous process of articulating and outlining work obligations, priorities, performance standards, and development plans that maximize performance and support organizational objectives.
- The process of ensuring that a set of actions and outputs achieves the objectives of an organization effectively and efficiently is known as performance management. Performance management can be used to evaluate an employee, a department, a whole business, or the systems in place to handle certain tasks.
- The performance management cycle is a smaller, continuous four-step process that uses planning, monitoring, reviewing, and rewarding as part of the performance management process or strategy.
- Performance reviews, key performance indicators (KPIs), and management dashboards are a few examples of performance management procedures or instruments. Performance management is essentially what businesses undertake to increase their success and keep a step ahead of the competition.
Thus this is the meaning of performance management.
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Answer:
Explanation:
The journal entry is shown below:
Inventory A/c Dr $73,500
To Accumulated depletion A/c $73,500
(Being the depletion is recorded)
The computation is shown below
First we have to compute the depletion per ton which is shown below:
= (Acquired cost of coal mine + Intangible development costs + fair value of the obligation - Sale value) ÷ (Number of estimated tons of coal extracted)
= ($400,000 + $100,000 + $80,000 - $160,000) ÷ (4,000 tons)
= $105
Now if 700 are extracted in first year, so the depletion would be
= 700 × $105
= $73,500
Answer:198,800usd by the end of 2016
119,280usd by the end of 2017
Explanation: 2016 9 months depreciation percent 30%. Then 284,000*30%=85,200usd.
2017 12 months depreciation rate 40%. Then 198800*40%=79520.
198800-79520=119280
Answer:
Predetermined overhead rate=$8 per hour
Applied overheads=$799,200
Explanation:
Predetermined overhead rate is calculated using the following formula:
Predetermined overhead rate=Estimated overhead/Estimated direct labor hours
Predetermined overhead rate=800,000/100,000
=$8 per hour
Applied overheads= Predetermined overhead rate*number of direct labor hours
Applied overheads=8*99,900
=$799,200
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