Answer:
The type of action that asks how and why performance deviated is called BASIC CORRECTIVE ACTON.
Explanation:
Basic corrective action are Corrective action that looks at how and why performance deviated before correcting the source of deviation.
Basic Corrective Action - Essential restorative activity that takes a gander at how and why execution veered off before remedying the wellspring of deviation. It's not unusual for supervisors to legitimize that they don't have opportunity to discover the wellspring of an issue (fundamental restorative activity) and keep on ceaselessly "put out flames" with prompt remedial activity.
Answer:
The correct answer is total revenue; total cost.
Explanation:
Cost reduction is one of the most addressed issues in companies. They do it all the time since it is a permanent process. This is because it always seeks to improve the profitability of the company and, consequently, productivity. In other words, try to "do more with less", which is to produce more with what you have or produce the same with lower expenses. In both cases the objective is to reduce costs.
A company can reduce costs for many reasons: for a drop in sales, for lack of liquidity, for not having access to credit, etc. And when this happens, the cost cut occurs in the areas of human resources with the dismissal of personnel, the restructuring of the purchase processes, changes of suppliers, among other measures.
It is important to know what the current production process is and, if possible, redesign it, seeking to eliminate unnecessary steps, that is, to shorten the production processes. A long production line implies a greater number of workers, more work in the process and more time in product development. It also increases the possibility of errors in the process.
To make the cost reduction in your company even more efficient, you need to know each process deeply to detect unnecessary steps and help you reduce processes and / or procedures that in the medium or long term translate into cost reduction.
Answer:
(a) The asset would be recorded in accordance to IAS 16 Property, plant & equipment.
Dr Mining Asset 896,900
Cr Bank 896,900
(b) IAS 16 says that the costs incurred to make the asset ready for use must be capitalized as part of the asset. This means the license fee $1000 filing fee, License fee $2100 and $50,000 amount paid for geological survey must be capitalized. So the entry is as under:
Dr Mining asset (1k+2.1k+50k) $53,100
Cr Bank $53,100
(c) This assets must be depreciated on the basis of tons of minerals extracted which is 60 thousands tons in the first year.
Depreciation Expense = (60k tons / 500k tons) * (Total capitalized cost)
=(60,000/500,000) * (896,900+53,100) = $108,000
The Double entry of Depreciation Expense would be as under:
Dr Depreciation Expense $108,000
Cr Accumulating Depreciation $108,000
Answer:
<u>The rate of exchange for the £ is US$ 4</u>
Explanation:
1. Let's check the information provided to answer the question correctly:
Amount the U.S. citizen want to buy in £ = 25,000
Amount the U.S. citizen will pay in US$ = 100,000
2. Let's calculate the rate of exchange for the British pound £, this way:
Rate of exchange = Amount in US$/Amount in £
Rate of exchange = 100,000/25,000
<u>Rate of exchange = 4 US$ per £</u>
We can also express the rate for the US$, this way:
Rate of exchange = Amount in £/Amount in US$
Rate of exchange =25,000/100,000
Rate of exchange = £ 0.25 per US$
Jeffries Corporation's Operating Income from the two products is <em>A. $35,000.</em>
The operating income is the difference between the revenue and operating costs (variable and fixed costs).
Data and Calculations:
Product A Product B Total
Revenue $18.00 $21.00
Variable cost 14.00 13.00
Contribution $4.00 $8.00
Fixed costs $143,000
Total sales units 35,600
Sales mix 3 1 4
Sales units 26,700 8,900 35,600
Total contribution$106,800 $71,200 $178,000
Total fixed costs 143,000
Operating income $35,000
Thus, the operating income is $35,000.
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