He’s not even lost or missing he probably ghosted you please stop sharing this and move on
Answer:
The total cost of the departmental Work-in-Process Inventory at the end of the period = $ 8200
Explanation:
Units % of EUP
Completion D.Materials Conversion
Costs
No Of Units
Completed 1400 100 1400 1400
<u>Units In Process 400 50% 400 200 </u>
<u>Total 1800 1800 1600</u>
Ending Inventory Valuation
Working:
Direct Materials = $( 25,200/ 1800 )*400= $5600
Conversion Costs= ($ 20800/1600)*200= $2600
Total Ending Inventory Costs= $5600+$2600= $ 8200
Direct materials (1,800 at $14.00) $25,200
Direct labor 12,480
Factory overhead 8,320
Total Manufacturing Costs $ 46000
Answer:
False
Explanation:
we could see the following difference between Managerial and Financial accounting
Managerial Accounting
- Primary User: Internal
- Purpose of Information: To help managers make decisions
- Focus: Segments
- Frequency: As needed
- Auditing: Not subject to audit
- Required: No
- Time Frame Focused:Future
Managerial Accounting
- Primary User: External
- Purpose of Information: To help investor and creditor make decisions
- Focus: Entire organization as a whole
- Frequency: Quarterly and annually
- Auditing: Publicly held companies are audited
- Required: Required by GAAP, SEC, IRS, and others
- Time Frame Focused: Past (historical transactions)
Answer:
Audit Risk and Materiality
These two concepts have an inverse relationship. When the materiality level is set low, the audit risk envisaged by the auditor is on the high side. When the materiality level is set high, the audit risk as perceived by the auditor is on the low side.
But, what exactly is materiality? Materiality refers to the basis that can change or influence the judgment of a reasonable person arising from a quantitative and qualitative omission or misstatement of a fact. And audit risk refers to the risk of material misstatement in the financial statements presented by a company.
Explanation:
The risk of material misstatement in the financial statements is the reason that professional auditors design their audit procedures to reduce the audit risk to an acceptably low level. This implies that auditors gather more audit evidence when the materiality is set to a low level, showing that audit risk has increased and vice versa.
Answer:
The definition becomes defined in the clarification section below, as per the particular circumstance.
Explanation:
<u>Meeting customer expectation</u>:
- This metric of success would reflect just how much the clients are represented. It will represent the quality of the service of the business and will provide them with crucial input. This metric would help the organization address the trouble areas. If the degree of customer loyalty rises, sales will also rise because more and more clients enjoy the company’s products or services.
- This would also show the pattern of clients as well during the company's measures to handle the issue.
<u>Productivity</u>:
- This is a significant parameter that indicates how much is expended on activities and whether the business gets in exchange. It extends from financial return with the introduction of new goods from marketing and distribution activities to return on invested capital. Productivity is closely linked to organizational financial efficiency.
- When productivity rises, profits rise as well. In terms of their historical and present performance, data analytics can help to decide how and why the multiple fields work.
<u>Cash flow</u>:
- It explains how well the cash flows within and without the organization. If the business later collects reimbursement from consumers but earlier pays its vendors, then it suggests significant operating inefficiency.
- These efficiencies should be worked out by the organization to minimize operational expenses and preserve favorable cash flow to boost the company's financial well-being.
