If 20,000 worker-hours produced a total output of $600,000 in an economy, then the labor productivity is

Internal controls are designed to accomplish five objectives that include compliance with legal requirements, promote operation

Ira Lisetskai [31]

Answer:

Ensure accurate reliable accounting records

Explanation:

Internal controls refer to those processes and procedures employed by the management of an entity so as to ensure efficient operations and to keep a check on frauds and compliance with better reporting requirements.

For example, biometric system of recording employee attendance which keeps a check as in who is actually on payroll and elimination of any dummy entries from the records.

The purpose of internal control is to safeguard assets, ensure that employees adhere by company policies, compliance with the law, promote operational efficiency and ensure reliable financial reporting without misrepresentation of facts.

3 0

3 years ago

Molly Mocha employs one college student every summer in her coffee shop. The student works the five weekdays and is paid on the

mixer [17]

Answer:

The adjusting entry on 31st July will be;

Salaries Expense (Dr.) $480

Salaries Payable (Cr.) $480

Explanation:

Molly Mocha hires one student who works for 5 days and is paid on Monday. The student who has started working on 28th July Monday then he has worked till 1st August Friday. The adjusting entry need to be made on Thursday 31st July. The student is paid $120 per day so for 4 days of working it will be $120 * 4 days till 31st July. Since Molly Mocha pays salaries on following Monday it should record salaries expense as debit and salaries payable as credit in its accounts.

6 0

3 years ago

Select the qualification that is best demonstrated in each example.

Olin [163]

Answer:

Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.

Explanation:

The qualification that is best demonstrated out of all the options would be that Ellen is a Stationary Engineer who figures out what is wrong with machinery for heating a building.

Charlene's ability to stay on task has no direct correlation with being a highway worker.

Floyd's ability to lift heavy objects also has no direct correlation with being a repair worker.

Pedro's ability to explain a problem to a customer has no direct bearing on being a mechanical door repairer.

The only option with direct correlation is a stationary engineer's ability to figure out what is wrong with machinery for heating a building. A stationary engineer is also known as operating or power engineer.

5 0

3 years ago

Read 2 more answers

If Division Inc. expects to sell 200,000 units in the current year, desires ending inventory of 24,000 units, and has 22,000 uni

Lyrx [107]

Answer:

a) True

Explanation:

Sales = Opening + Production - Closing

$200,000 = $22,000 + Production - $24,000

Production = 202,000 Units

Hence, the answer is a. True

4 0

2 years ago

Pinnocle Corporation has provided the following data from its activity-based costing system: Activity Cost Pool Total Cost Total

Lostsunrise [7]

Answer:

Product margin= $9,607.5

Explanation:

First, we need to calculate the allocation rates:

Assembly= 1,533,840 / 77,000= $19.92 per machine-hour

Processing orders= 91,065 / 1,950= $46.7 per order

Inspection= 139,788 / 1,980= $70.6 per inspection-hour

Now, we need to allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Assembly= 19.92*660= 13,147.2

Processing orders= 46.7*50= 2,335

Inspection= 70.6*10= 706

Total= $16,188.2

Finally, the product margin for product S78N:

Product margin= 430* (124.3 - 51.25 - 13.06) - 16,188.2

Product margin= $9,607.5

4 0

3 years ago