Answer:Unity of command
Explanation:Henri Fayol principle of management is one of the most widely accepted standard for effective management of Organisations. This principles highlights fourteen(14) points that highlights how management can carry out their responsibilities.
UNITY OF COMMAND IS ONE OF THE PRINCIPLES OF MANAGEMENT BY HENRI FAYOL WHICH INVOLVES A TOP-DOWN(MANAGERS TO SUPERVISORS TO THE JUNIOR PERSONNEL) APPROACH TO GIVING INSTRUCTIONS.
Answer and Explanation:
The journal entries are shown below:
a. Note receivable Dr $3,800,000
To Cash $3,800,000
(Being the acceptance of the note is recorded)
For recording this we debited the note receivable as it increased the assets and credited the cash as it decreased the liabilities
b. Interest receivable Dr $38,000
To Interest revenue $38,000
(Being the interest revenue is recorded)
For recording this we debited the interest receivable as it increased the assets and credited the interest revenue as it increased the revenue
The computation is shown below:
= $3,800,000 × 6% × 2 months ÷ 12 months
= $38,000
,
Calculation of Direct Material Budget for the month of July:
Budgeted production (Units) for July 5,000
Material required per unit (pounds) 3
Material requirement for July (pounds) = (5000 units * 3 pounds) 15,000
Add: Ending material inventory (5300 units * 3 pounds* 30%) 4,770
Less: Beginning material inventory 4,500
Direct Material Purchase (Pounds) (15000+4770-4500) = 15,270
Cost per pound of Metrial ($) $6.00
Direct Material Purchase ($) (15270 pounds * $6) = $91,620
