Answer: <em>Cost of Goods Manufactured = $ 660,000</em>
Explanation:
Direct Material Used $ 240,000
Direct labor $ 250,000
Manufacturing overheads applied $ 150,000
Total manufacturing Cost $ 640,000
Add: Work in process $ 40,000
Total Manufacturing cost $ 680,000
Less: Work in process $ 20,000
Cost of Goods Manufactured $ 660,000
Answer:
a. $288,000
b. $190,000
Explanation:
The Accounting equation: Assets = Liabilities + Equity
a. Assets = Liabilities + Equity
382,000 = 94,000 + Equity
Equity = 382,000 - 94,000
= $288,000
b. Equity as of December 20Y9.
Account for the changes in assets and equity:
Assets = Liabilities + Equity
(382,000 - 63,000) = (94,000 + 35,000) + Equity
319,000 = 129,000 + Equity
Equity = 319,000 - 129,000
= $190,000
Answer: social responsibility of business to customers
Explanation:
social responsibility of business is the voluntary roles which business play in the society
It is the moral obligation that business owes the society, in other words, it refers to the ways in which business enterprises could assist to develop the local communities in which they operate.The business can have responsibilities towards the following
Owners : The business has it as a responsibility to protect the investment of its owners. It has to ensure that a reasonable return is earned on such investment, in addition, efforts must also be geared toward ensuring the growth of the business.
Customers : The business responsibility to their customers include the production and distribution of high quality goods and services advertising correct and not defective goods and services, labelling goods clearly and correctly, offering and explaining credit facilities and adopting after sales services. The business must recognize that the ultimate success or failure of the business rest to a large extent with the customers, The business must ensure that they do not sell to their customers fake product or produce products which may be injurious to the health of their customers.
Employees : The employees are the Labour component of the factors of production, the responsibility of the business to their employees is to pay commensurable salaries and provide satisfying work ,job security and good working conditions for their employees.
Creditors : The creditors are those individuals or organizations whom the business owe money.It is the responsibility of the business to repay these debt as they fall due.It is equally essential for business to cultivate a good culture of debt management.
Government : The business has a responsibility to obey the various government laws guiding business operations. It must also pay its taxes at the right time and contribute to the economic development of the country.
Answer:
False
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
A lifestyle can be defined as the way and manner an individual chooses to live his or her life. Similarly, a lifestyle budget comprises the cost of goods and services an individual has chosen to spend his or her money on.
Basically, completely eliminating an item isn't the only way to decrease a lifestyle budget because there could be similar items that even cost way more than the eliminated item.
Some of the benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
