Answer:
D. Treated as a loss in the period incurred.
Explanation:
The process-costing system is used by firms that produce goods that goes through a set of manufacturing departments i.e it's used when firms mass produce nearly identical or similar units through various processes.
Under process-costing system, direct costs of production are accumulated, summarized, and then assigned to all the units produced during the period.
Thus, a single product cost is calculated by dividing process cost in each manufacturing department by the respective units produced during the production period.
Some organizations that use the process-costing system are oil refineries, chemical processing companies, eraser manufacturing companies, and food production companies.
In a process-costing system, the cost of abnormal spoilage should be treated as a loss in the period incurred.
The abnormal spoilage refers to the cost exceeding normal level, associated with spoiled units of a manufacturing process. It should be treated as a loss in the period incurred because it cannot be recovered
Answer:
Explanation:
Total cost of repairs:
Material = 3,500
Material loading charge = 3,500 * 65% = 2,275
Labor (45hrs* $47per hr) = 2,115
Thus, total cost =(3500 + 2275 + 2115) = $7,890
Answer:
Legal responsibility
Explanation:
Since there have been regulations put in place by the government, it is thereforre a legally binding agreement between XYZ company and any other companies that does same as XYZ company.
The failure of XYZ company to honour the set regulations is a breach in its legal responsibilty alongside its corporate social responsibilty as well and it can be taken up by the government by either charging the XYZ company to court or revoking their operating license.
Cheers.
Answer: E. development of the good or service to be sold
Explanation:
The typical starting point of any firm's marketing mix is the development of the good or service to be sold. The marketing mix is simply a mix of the marketing strategies that are vital to achieve marketing aims and increase sales.
It should be noted that marketing mix begins with the product and without this, distribution, pricing and the promotion are not relevant.
Answer:
c. Virtual Team
Explanation:
Since they don't meet in person, they are settled in different locations and collaborate through technolgy, they only meet virtually, they are called a virtual team
