The total payroll amount is $50,000 per week.
Since there are only 5 work days per week (Monday to
Friday), therefore the employees wage per day is:
Employees wage per day = $50,000 / 5 = $10,000
For the payday on April 4, the wages expense covered for
this would be from April 1 to April 4 since the accounting period ended on
March 31. Therefore wages expense in the journal entry would be calculated
using 4 days.
Wages expense for April for the payday April 4 = Employees
wage per day * Number of days
Wages expense for April for the payday April 4 = $10,000 * 4
<span>Wages expense for
April for the payday April 4 = $40,000</span>
When product designers use computer-aided design (CAD) software to produce technical drawings in three dimensions, they are using: Utility software
Answer:
The actual results for 175,000 units with a new budget for 175,000 units.
Explanation:
To be more useful, actual results should be compared with budgeted amounts of actual production.
The actual results for 175,000 units should be compare with a new budget for 175,000 units
The <u>process </u>is a systematic series of actions that leads to a specific result or product.
<h3>What is a Process?</h3>
A process is a set of decisions and actions used to carry out the task. Although we may not be aware of them, processes are present in every sphere of our lives, including work and pleasure. Several instances of
processes may be:
- breakfast preparation
- Making a purchase
- establishing a budget
- A work order is written.
- A patient is triaged.
- sanitizing a space
- changing a car's oil
- placing truck straps
- refueling a vehicle
<h3>Timing and dependency of a Process</h3>
Awareness of genuine process behavior requires an understanding of timing and interdependence. The submitter only submitted background checks on Tuesday between 3:00 and 3:30 PM throughout the background check procedure outlined above. This implies that it can take up to 7 days for a pending background check to be filed. 14 extra days might be added to the background check procedure by three additional comparable delays. Understanding how actions inside a process are timed is essential to any improvement technique, but it is not made clear by the fundamental description. The framework for describing when a process takes place is not part of the fundamental concept of a process.
Therefore, As explained in your textbook, a <u>Process </u>is a systematic series of actions that leads to a specific result or product.
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For monopolistically competitive businesses, the factor that ultimately causes zero economic profitability is: newly added
What Exactly Is Economic Gain (or Loss)?
The difference between the money made from selling an output and the price of all the inputs plus any opportunity costs is what is known as an economic profit or loss. By deducting potential costs and explicit costs from generated revenue, economic profit is calculated.
Opportunity costs are a kind of implicit cost that management determines and that vary depending on various events and viewpoints.
Analysis of accounting profit and economic profit frequently goes hand in hand. The profit that a corporation reports as accounting profit appears on its income statement. Accounting profit is a measure of actual inflows and outflows that is necessary for a company to have financial transparency.
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