Answer:
d. Detailed reporting of daily production is sent to the president
Explanation:
Fundamental responsibilities involves process in which the controller notifies the business reporting department of various adjusting entries, which are sent to the financial reporting officer as adjusted trial balance figures.
The treasurer notifies the business reporting department of investing and financing transaction activities.
Answer:
The answer is: C) $14,000
Explanation:
ABC Tax Planning Services paid six months of rent in advance, from January to July. It spends $7,000 per month on rent, so the six months prepaid rent would be $42,000. On April 30, 2018, ABC had already rented the offices for 4 months, so it had only two months left in its Prepaid Rent account, equivalent to $14,000 (2 x $7,000).
Answer:
A. True
Explanation:
The term business intelligence refers to the plans, process through which the raw data is to be converted into meaningful information that became relevant for the ethical decision making so that the goals and the objectives of the company could be accomplished.
Data + Process = Information
Collection of information through internal and external parties would also help to analyze the trends, patterns for better decision making.
Therefore, the given statement is true.
Answer:
The cost of goods available for sale is $4,760
Explanation:
Goods available for sales include all those goods which is available on the beginning of the period and all the purchases / production during the period.
Beginning Inventory = 20 x $44 = $880
Purchases for the month = ( 20 x 45 ) + ( 20 x 46 ) + ( 20 x 49 ) + ( 20 x 54 )
Purchases for the month = $900 + $920 + $980 + $1,080
Purchases for the month = $3,880
Cost of Goods available for sale = Beginning Inventory + Purchase for the month = $880 + $3,880 = $4,760
Answer:
1) 1st quarter: 74,000
2nd Quarter:74650
3rd Quarter: 75625
4th Quarter: 73350
total overhead= $297,625
2) manufcturing overhead for each quarter= fixed overhead/quarter+ labor hours / quarter × labor rate
Explanation:
1)
1st quarter= 8000×3.25 + 48,000= 74,000
2nd Quarter= 8200×3.25 + 48,000=74650
3rd Quarter= 8500×3.25 + 48,000= 75625
4th Quarter= 7800×3.25 + 48,000= 73350
Total overhead = 74000+73350+75625+74650= 297,625
2) manufcturing overhead for each quarter= fixed overhead/quarter+ labor hours / quarter × labor rate
