Answer:
amount of direct materials that should be used for each unit of finished product including an allowance for normal inefficiencies, such as scrap and spoilage.
Explanation:
Standard quantity per unit is defined as materials that the manufacturer needs to complete a unit of a product. It also allows for inefficiencies such as spoilage and scrap.
It is used by managers to reduce wastage that exists during production by allocation of only the required amount of direct materials in the production process.
Planning and organizing of business success are reflected in this scenario.
Since the business proprietor is worried about analyzing the materials and equipment that are for use on an ordinary basis and he plans to shop for them in bulk. That is a clean instance of making plans as it entails the analysis of providers and equipment after which establishing them in order to shop for them in bulk.
Planning is the process of thinking regarding the sports required to obtain a preferred goal. Planning is primarily based on foresight, the essential potential for a mental time journey. The evolution of forethought, the potential to think in advance, is considered to have been a top mover in human evolution.
Organizing (management), is a procedure of coordinating mission desires and sports to assets. community organizing, wherein groups come together to act on their shared self-interest. expert organizing, an industry built around creating organizational structures for people and companies.
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The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Answer:
Income tax expense of $14 million should report in the income statement
Explanation:
Southeast Airline should report the income on the basis of their earning in the year.
Earning Before Tax = $30 Million
Tax on Earning Before Tax = $30 Million x 40% = $12 million
Gain on disposal = $5 million
Tax on Gain on disposal = $5 million x 40% = 2 million
Total Income tax = $12 million + $2 million = $14 million
Another way
Total Income tax = ( $30 million + $5 million ) x 40% = $14 million
Answer:
b. Hold the seller in breach of the entire installment contract when a nonconforming installment substantially impairs the value of that installment alone.
Explanation:
In installment contract, the seller and the buyer agrees on the ways through which the buyer will pay for the goods which he or she purchases installmentally rather than a one off payment. In a situation where the agreement has been reached, <em>it expected that the buyer and the seller to conform to the said agreement. However,the seller is hold in breach of the entire installment contract if there is impairment of the value of the goods substanstially.</em>
