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geniusboy [140]

3 years ago

8

In the context of supply chain management (scm), ____ refines the production plan by determining the amount of weekly or daily p

roduction needed to meet the requirement for individual products.

1 answer:

ra1l [238]3 years ago

8 0

Some kind of demand management

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Lopez Corporation incurred the following costs while manufacturing its product.

IrinaK [193]

Answer:

(a) $353,400

(b) $375,200

Explanation:

Given that,

Materials used in product = $123,900

Advertising expense = $49,600

Depreciation on plant = 67,500

Property taxes on plant = 23,400

Property taxes on store = 8,420

Delivery expense = 24,000

Labor costs of assembly-line workers = 116,200

Sales commissions = 41,100

Factory supplies used = 24,600

Salaries paid to sales clerks = 53,000

(a) Cost of goods manufactured:

= Material used in product + Depreciation on plant + Labor costs of assembly-line workers + Factory supplies used + Property taxes on plant + Beginning Work in process inventory - Ending Work in process inventory

= $123,900 + $67,500 + $116,200 + $24,600 + $23,400 + $14,700 - $16,900

= $353,400

(b) Cost of goods sold:

= Cost of goods Manufactured + Opening finished goods - Closing finished goods

= $353,400 + $70,700 - $48,900

= $375,200

3 0

3 years ago

Internal Controls for Bank Lending

julsineya [31]

Answer:

1. False

The higher the figure, the higher the risk. Kindly note that loans are usually insured against default. The higher the amount insured, the higher the premium payable as insurance on such amounts.

2. False

It does not make for good internal control to have one person regardless of their position to have the final say on loans of great magnitude such as $5 Million. This can quickly degenerate into a situation where the officer involved is tempted to abuse that power. It makes for good corporate governance and risk management to ensure that the board is responsible for loans of such magnitude.

3. True

If a bank lost $100 in a thousand places, from loan default, that translates to a loss of $100,000. This relatively is large however it is small and will have less impact that a loss of a million dollars in 3 places. That's $ 3,000,000.

As already indicated, it makes for good loan disbursement governance, to ensure that there is at least two persons involved in the risk acceptance criteria (RAC) evaluation and loan disbursement process.

4. False

Separation of duties is the foundation of good internal control. It allows for greater objectivity. It is also key to carefully select signatories to loan disbursements. They have to be people of impeccable character and the company must exercise proper risk management to ensure that every protocol such as opportunity that may create the impulse or inclination to breach policy is removed completely.

Cheers!

5 0

3 years ago

During a management meeting, Dave, the CEO of Top Office Equipment, reminded his management team of where the company wants to g

kirill115 [55]

Answer:

Vision statement

Explanation:

A vision statement bis defined as the statement of a business's objectives, and acts as a guide when there is internal decision making to be done within the organisation.

The vision statement outlines what the organisation aims to achieve. It should be short, simple, specific, and not open to different interpretations.

Dave the CEO is reminding the employees where the company wants to go as an organisation by stating the vision statement: "Top Office Equipment is the expert whom customers should always call regarding all their office equipment needs because Top Office strives to understand customer needs and provide the right answers for them."

6 0

3 years ago

Read 2 more answers

The total cost of direct materials, direct labor, and factory overhead transferred from the Work-In-Process Inventory account to

sp2606 [1]

Answer:

d. Cost of goods manufactured.

Explanation:

The total costs of direct material, direct labor and factory overhead when transferred from work in process to finished goods - forms the cost of goods manufactured.

Total cost of manufacturing usually also involves half finished products and thus the work in process. Where as when the goods are to be transferred to the finished inventory, these work in process are adjusted and forms the cost of goods manufactured.

Hope that helps.

5 0

3 years ago

What was the financial turning point of the American Civil War

KatRina [158]

north captured the New Orleans port

7 0

3 years ago