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2 years ago

Week 1: Roles and Responsibilities in the Procurement Cycle

1 answer:

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The project's procurement cycle (plan, conduct and control) according to the PMBOK Guide has as its central objective that external procurement for the execution of the project effectively meets your needs.

<h3>Planning</h3>

Planning corresponds to the stage where the purchasing requirements for the project are identified. A working document is developed with a detailed and specific request for proposal and invitation to bid.

It is in the planning phase where potential suppliers and vendors for hiring are identified.

<h3>Conduction</h3>

During the conduction phase, the acquisition agreements are signed and a plan for project management is carried out, with information regarding the cost, budget and schedule of the chosen supplier.

<h3>Control</h3>

In the control phase, it is up to the project manager to review the agreements, monitor the flow of work, progress and team performance to meet the budget and schedule.

Find out more information about procurement cycle here:

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When the accounts of Sunland Inc. are examined, the adjusting data listed below are available on December 31, the end of the ann

7nadin3 [17]

Answer:

Sunland Inc.

Adjusting Journal Entries:

Account Titles and Explanation Debit Credit

Interest Expense $1,152

Interest Payable $1,152

To record accrued interest for 8 months.

Rent Revenue $2,600

Deferred Revenue $2,600

To record deferred rent revenue for 2 months.

Supplies Expense $1,570

Supplies $1,570

To record supplies expense for the period.

Explanation:

a) Data and Calculations:

1. Interest Expense $1,152 Interest Payable $1,152 ( $28,800 * 6% * 8/12)

2. Rent Revenue $2,600 Deferred Revenue $2,600 ($7,800 * 2/6)

3. Supplies Expense $1,570 Supplies $1,570 ($2,110 - $540)

b) The above adjusting journal entries are made in order to reverse the earlier entries made. The purpose is to bring the accounts in line with the accrual concept and the matching principle of generally accepted accounting principles. These require that expenses and revenues for the period are matched and recognized whether or not cash is exchanged.

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3 years ago

The purpose of preparing a direct materials budget is to ________. multiple choice 1 allocate the cost of raw materials to produ

Eduardwww [97]

Answer:

1. estimate the quantity of raw materials to be purchased.

2. ending raw materials inventory for the last period.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.

The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.

The final step by the management of an organization in the financial decision making process is making necessary adjustments to the budget.

The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

1. The purpose of preparing a direct materials budget is to estimate the quantity of raw materials to be purchased. This includes the raw materials that would be used for the manufacturing of finished goods.

2. In a direct materials budget, the desired ending raw materials inventory for the year is equal to the ending raw materials inventory for the last period.

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2 years ago

Maymart Inc sells its products at the lowest prices in the industry, and it believes that this is the best way to stay ahead of

Y_Kistochka [10]

Answer:

A) The cost leadership strategy

Explanation:

Cost leadership is providing the service or supply of product without compromising the quality of service or product supplied.

In the given instance also, Maymart supplies goods without any decrease in quality standards that is goods are completely acceptable by customers, and that the goods are supplied at least price in the industry, this provides a competitive advantage to the company, by cost leadership.

As cost is least for consumer for same quality as demanded.

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3 years ago

Cash Flow Data for Interceptors, Inc. 2015 2016 2017 2018 Cash $ 54 $ 78 $ 102 $ 126 Cash from operations $ 146 $ 144 $ 141 $ 13

marysya [2.9K]

Answer:

Interceptors, Inc.

Cash flow from financing in 2018:

$71

Explanation:

a) Data and Calculations:

2015 2016 2017 2018

Cash $ 54 $ 78 $ 102 $ 126

Cash from operations $ 146 $ 144 $ 141 $ 136

Net capital spending $ 178 $ 173 $ 178 $ 183

Cash from financing $ 56 $ 53 $ 61

2015 2016 2017 2018

Cash at the beginning $30 $54 $78 $102

Cash from operations $ 146 $ 144 $ 141 $ 136

Cash from financing $ 56 $ 53 $ 61 $ 71

Net capital spending ($ 178) ($ 173) ($ 178) ($ 183)

Cash $ 54 $ 78 $ 102 $ 126

Cash from the beginning for 2015 = (Cash at the end plus net capital spending) minus (Cash from operations plus cash from financing)

= /$30 ($54 + $178) - ($146 + $56)

Cash from financing in 2018 = (Cash at the end plus net capital spending) minus (Cash from operations plus cash at the beginning)

= $71 ($126 + $183) - ($136 + $102)

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2 years ago

In a multinational corporation (MNC) where the locus of decision making is decentralized, decisions are:

Gre4nikov [31]

In a multinational corporation (MNC) where the locus of decision making is decentralized, decisions are made at the top management level.

<h3>What is multinational corporation?</h3>

multinational corporation serves as one that has different level of management.

Multinational companies are usually involvea in international trade taking into consideration the

political as well as cultural differences into account.

Examples of these corporation are:

Coca-Cola
Philip Morris's Marlboro brand
Pepsi

In this case, decisions are made at the top management level in other to achieve the goals of the organization because they do operate outside their country.

Learn more on multinational corporation at: brainly.com/question/494475

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2 years ago