An employee with special skills who has agreed not to work for a competitor may be enjoined from breaching his or her contract and working for that competitor by: A. a mandatory injunction. Select one: a. a mandatory injunction. b. liquidated damage provisions. c. a prohibitory injunction. d. nominal damage provisions.
Answers
Answer:
The correct answer is option (c) a prohibitory injunction
Explanation:
Solution:
Injunctions are present when a breach of contract threatens to produce an irreparable injury.
A court can order a party to do come certain acts that is a mandatory injunction or to refrain from doing certain acts, that is a prohibitory injunction.
For instance, an employee with a good skills who has decided not to work fro a competitor may be enjoined from breaching his or her contract and working for that competitor.
Related Questions
Assessment
Which of the following is an example of investing in yourself?
A. Taking the time to learn how to create a budget.
B. Investing your money in the stock market.
C. Planning out your financial goals.
D. Signing up for an online class.
10/10
Answers
Answer:
A
Explanation:
The reason is because you can learn new techniques on money saving and budgeting.
Tucker, Inc. on January 1, 2017 initiated a noncontributory, defined-benefit pension plan that grants benefits to its 100 employees for services rendered in years prior to the adoption of the pension plan. The total expected service-years of the 100 employees who are expected to receive benefits under the plan is 1,200. An actuarial consulting firm has indicated that the present value of the prior service cost on January 1, 2017 was $5,040,000. On December 31, 2017 the following information was provided concerning the pension plan's operations for its first year. Employer's contribution at end of year $1,600,000 Service cost 600,000 Projected benefit obligation 6,000,000 Plan assets (at fair value) 1,600,000 Expected return on plan assets 9% Settlement rate 8%
Instructions:
(a) Compute the pension expense recognized in 2017. Assume the prior service cost is amortized over the average remaining service life of the employees.
(b) Prepare the journal entries to reflect accounting for the company's pension plan for the year ended December 31, 2017.
(c) Indicate the amounts that are reported on the income statement and the balance sheet for 2017.
Answers
Answer:
a. Computation of Pension Expenses
Particulars Amount
Service cost $600,000
Interest on projected benefit obligation $480,000
($6,000,000 * 8%)
Expected Return on plan assets -$144,000
($1,600,000 * 9%)
Amortized of prior service costs $0
Pension Expense $936,000
b. Account Titles and Explanation Debit Credit
Pension Expenses $936,000
Pension Asset/Liability $664,000
Cash $1,600,000
Other Comprehensive Income $0
c. Tucker Inc.
Income Statement (Partial)
For the year ended December 31, 2017
Expenses:
Pension Expenses $936,000
Tucker Inc.
Balance sheet (Partial)
For the year ended December 31, 2017
Long term Liabilities:
Pension Liability $3,736,000
Stockholders' Equity
Accumulated Other $5,040,000
Comprehensive Income
($5,040,000 - $0)
Workings
Projected benefit obligation, before adjustment $6,000,000
Add: Service cost $600,000
Add: Interest on projected benefit obligation $480,000
($6,000,000 * 8%)
Projected benefit obligation $7,080,000
Fair value of pension assets $1,000,000
Add: Expected return on plan assets $144,000
Add: Cash contribution $1,600,000
Plan assets $3,344,000
Pension Liability $3,736,000
1) What are the three primary determinants of behavior in organizations?
Answers
Answer:
The three primary determinants of behavior in organizations are employee dynamics, available resources and work environments.
Plot the production possibilities table to make a production possibilities curve. Place defense on the vertical axis and social welfare on the horizontal. The resulting curve is called a frontier.
Answers
The production possibility curve is an important economic graph because its demonstrates the maximum possible output of goods given a set amount of resources.
What is a production possibility curve?The production possibilities curve refers to a graph or economic model that shows the maximum combinations of goods and services such as any two categories of goods that can be produced from a fixed amount of resources.
In essence, the frontiers of the curve illustrates the possible quantities that can be produced of two products if both depend upon the same finite resource for their manufacture. In conclusion, it is an important economic graph because its demonstrates the maximum possible output of goods given a set amount of resources.
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QUESTION ONE
Mr. Balham started business on July 1, 2019 with a capital of GH¢16,000 cash.
July 2. Opened a bank account with GH¢8,000
July 2. Bought goods costing GH¢1,000 with cheque
July 3. Purchased Shop Fittings on credit from Jupiter Furniture at GH¢5,000
July 5. Bought motor van by cheque GH¢4,000
July 8. Purchased stationery GH¢150 and goods GH¢5,000 by cash
July 17. Paid insurance GH¢100 by cash
July 18. Cash sales made GH¢2,500
July 20. Sent cash of GH¢2,700 to the bank
July 22. Withdrew GH¢1,000 from the bank for personal use
July 25. Paid motor expenses GH¢300
July 28. Cash sales sent to the bank GH¢5,400
Required: Prepare the ledger accounts of Mr. Balham and extract a trial balance.
Answers
Answer:
a) Ledger Accounts:
1) Capital Account
Debit Credit Balance
Cash GH¢16,000 GH¢16,000
Cash Account
Date Debit Credit Balance
July 1 Capital GH¢16,000 GH¢16,000
July 2 Bank GH¢8,000 GH¢8,000
July 8 Stationery GH¢150 GH¢7,850
July 8 Purchases GH¢5,000 GH¢2,850
July 17 Insurance GH¢100 GH¢2,750
July 18 Sales GH¢2,500 GH¢5,250
July 20 Bank GH¢2,700 GH¢2,550
July 25 Motor Expenses GH¢300 GH¢2,250
3) Bank Account
Date Debit Credit Balance
July 2 Cash GH¢8,000 GH¢8,000
July 2 Purchases GH¢1,000 GH¢7,000
July 5 Motor Van GH¢4,000 GH¢3,000
July 20 Cash GH¢2,700 GH¢5,700
July 22 Drawing GH¢1,000 GH¢4,700
July 28 Sales GH¢5,400 GH¢10,100
4) Purchases Account
Date Debit Credit Balance
July 2 Bank GH¢1,000 GH¢1,000
July 8 Cash GH¢5,000 GH¢6,000
5) Furniture & Fittings Account
Date Debit Credit Balance
July 3 Accounts Payable GH¢5,000 GH¢5,000
6) Accounts Payable
Date Debit Credit Balance
July 3 Furniture & Fittings GH¢5,000 GH¢5,000
7) Motor Van
Date Debit Credit Balance
July 5 Bank GH¢4,000 GH¢4,000
8) Stationery
Date Debit Credit Balance
July 8 Cash GH¢150 GH¢150
9) Insurance
Date Debit Credit Balance
July 17 Cash GH¢100 GH¢100
10) Drawings
Date Debit Credit Balance
July 22 Bank GH¢1,000 GH¢1,000
11) Motor Expenses
Date Debit Credit Balance
July 25 Cash GH¢300 GH¢300
12) Sales Account
Date Debit Credit Balance
July 18 Cash GH¢2,500 GH¢2,500
July 28 Bank GH¢5,400 GH¢7,900
b) Trial Balance as at July 28, 2019:
Debit Credit GH¢ GH¢
Capital 16,000
Cash 2,250
Bank 10,100
Purchases 6,000
Fittings 5,000
Accounts Payable 5,000
Motor Van 4,000
Stationery 150
Insurance 100
Drawings 1,000
Motor Expenses 300
Sales 7,900
Total $28,900 $28,900
Explanation:
a) Ledger Accounts are the financial records of all classes of business transactions, which record the debit and credit sides and extracts balances for preparing the trial balance.
b) Trial Balance is a list of the balances extracted from the ledger. It is a tool for checking if the two sides of the accounts are in balance (equal). It is the basis for adjusting entries and the preparation of the financial statements for a period.
a pregnant employee who violated several attendance rules due to her physical conditions. She is about to get fire by hr manager of the company.discuss what business ethics issues present on this situation. what can be done?
Answers
Answer:
answer is no
Explanation:
You cannot be fired for being pregnant under most circumstances.employers from terminating employees due to pregnancy and pregnancy-related conditions
Dorian owns a farm and sells potatoes to local restaurants and grocery stores. Which phrase describes this information about Dorian's business?
Supplier in the factor market
Supplier in the financial market
Consumer in the product market
Consumer in the factor market
Answers
The phrase that describes Dorian's business is she is a supplier in the factor market.(Option 1)
What is a factor market?A factor market is a market where the factors of production that are needed in the production of final goods and services are bought and sold. The potatoes sold by Dorian represents a factor of production because they are input for the restaurants.
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The 15-year average return for the S&P 500 from January 1973 to December 2016 (29 separate 15 year periods) was as high as a 20% average annual return and as low as a 3.7% average annual return. Additionally, the average dividend yield for the S&P is 4.11% and the average annual dividend growth rate is 6.11%.
Using this information, please compare the investment in the 5% 15-year corporate bond with a $100,000 investment in a stock with a 3.7% dividend yield (10 percent less than the S&P 500 average yield) and a 3% dividend growth rate (50 percent of the S&P 500 dividend growth rate).
The annual investment returns are as follows:
Year 1 (13.40%) Year 2 (23.37%) Year 3 26.38% Year 4 8.99%
Year 5 3.00% Year 6 13.62% Year 7 3.53% Year 8 (38.49%)
Year 9 23.45% Year 10 12.78% Year 11 0.00 Year 12 13.41%
Year 13 29.60% Year 14 11.39% Year 15 (0.73%)
The bond interest payment of 5 percent is paid annually and not reinvested. To compare accurately with the bond investment, the stock dividend will not be reinvested, but paid annually as well.
Please calculate the value of the stock account at the end of each year and the dividend income from the stock on an annual basis.
Once you have performed the calculations, please let me know if you prefer to invest in a 5% corporate bond for 15 years or the stock and why.
What is the value of the stock after year 2? Year 8? Year 11? When does the annual dividend income of the stock exceed the annual interest income of the bond?
Answers
1. The value of the stock account after Year 2 is $155,401.626.
2. The value of the stock account after Year 8 is $96,110.0674.
3. The value of the stock account after Year 11 is $96,110.0674.
4. The annual dividend income of the stock exceeds the annual interest income of the bond at the end of Year 15.
Bond interest rate: 5%
Stock dividend yield: 3.7% (10% less than S&P 500 average yield)
Stock dividend growth rate: 3% (50% of S&P 500 dividend growth rate)
We'll assume an initial investment of $100,000.
Year 1:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $100,000 + ($100,000 * 0.2337) = $123,370
1. Year 2:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $123,370 + ($123,370 * 0.2638) = $155,401.626
2. Year 8:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $155,401.626 + ($155,401.626 * (-0.3849)) = $96,110.0674
3. Year 11:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $96,110.0674 + ($96,110.0674 * 0) = $96,110.0674
4. At the end of Year 15, the dividend income of the stock exceeds the interest income of the bond.
Stock dividend income: $100,000 * 0.037 = $3,700
Bond interest income: $100,000 * 0.05 = $5,000
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Suppose that on any given day the prevailing equilibrium federal funds rate is below the Federal Reserve's federal funds target rate. If the Federal Reserves wishes for the federal funds rate to be permanently at the target level, then the appropriate policy for the Federal Reserve is to take a defensive open market purchase, everything else held constant. True False
Answers
The statement which states that If the Federal Reserve's wishes for the federal funds rate to be permanently at the target level, then the appropriate policy for the Federal Reserve is to take a defensive open market purchase, is TRUE.
Based on the given question, we can see that an open market operation refers to the way the federal government makes the federal funds rate to change buy making the loans more easily obtainable.
With this in mind, if they wish for the federal funds rate to be permanently at the target level, then they would have to take a defensive position by increasing the reserves through buying of securities so that economic activity would be stabilised.
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The full array of tangible products offered for sale by a business represents the business's
Group of answer choices
product mix.
services.
depth.
product line.
Answers
Which of the following best describes what you do when a customer asks you about price early in the call?a. I pacify them by saying something like, "Pricing varies; I can quote a price once I have a better understanding of your needs. May I ask a few more questions first?b. I quote price and then quickly ask another question to get back on track.c. I summarize the features and benefits of the product and then quote the price.d. I quote price, but leave the door open for negotiation
Answers
Option A, "I pacify them by saying something like, "Pricing varies; I can quote a price once I have a better understanding of your needs. May I ask a few more questions first?" is the best response when a customer asks about the price early in the call.
This response acknowledges the customer's request for pricing information while also indicating that the price may vary depending on their needs. By asking a few more questions, the salesperson can gain a better understanding of the customer's needs and offer a more accurate quote. This approach also shows the customer that the salesperson is interested in helping them find the right product, rather than just making a quick sale.
Option B, quoting the price and quickly moving on, may seem efficient, but it can come across as dismissive and may not address the customer's needs.
Option C, summarizing the features and benefits first, may be appropriate in some cases, but if the customer is primarily interested in the price, it may not be the most effective response.
Option D, quoting the price and leaving the door open for negotiation, may be appropriate in some situations, but it could also lead to confusion or miscommunication if the customer is not expecting to negotiate.
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Assume that the hypothetical economy of Econoland has 10 workers in year 1, each working 2,000 hours per year (50 weeks at 40
hours per week). The total input of labor is 20,000 hours. Productivity (average real output per hour of work) is $10 per worker.
Instructions: In parts a and b, enter your answers as a whole number. In part c, round your answer to 2 decimal places.
a. What is real GDP in Econoland?
$
b. Suppose work hours rise by 1 percent to 20,200 hours per year and labor productivity rises by 4 percent to $10.40. In year 2, what
will be Econoland's real GDP?
$
c. Between year 1 and year 2, what will be Econoland's rate of economic growth?
percent
Answers
In year one, the Econoland economy has 10 workers, each working 2,000 hours per year (50 weeks at 40 hours per week).
a. $200,000
b. $210,080
c. 5.04 percent
What is GDP?Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced and sold by countries during a specific time period. Because of its complex and subjective nature, this measure is frequently revised before being considered a reliable indicator. The gross domestic product (GDP) is the monetary value of all finished goods and services produced within a country during a given time period.GDP provides an economic snapshot of a country and is used to estimate the size of an economy and its growth rate. GDP can be calculated in three ways: through expenditures, production, or income. Gross domestic product, or GDP, is a metric used to assess the health of a country's economy.To learn more about GDP, refer to:
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As of January 1, Terrace Waters, Capital had a credit balance of $500,000. During the year, withdrawals totaled $10,000, and the business incurred a net loss of $320,000. Compute the balance of Terrace Waters, Capital as of the end of the year. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain.
Answers
If as of January 1, Terrace Waters, Capital had a credit balance of $500,000.
A. The balance of Terrace Waters, Capital as of the end of the year Iis $170,000.
b. Yes, Assuming that there have been no recording errors, the balance sheet prepared at December 31 balance will balance.
How to find the balance?a. Balance of Terrace Waters:
Using this formula to find the balance of Terrace Waters:
Balance of Terrace Waters = Capital - Withdrawals - Net loss
Balance of Terrace Waters = ($500,000 – $10,000 – $320,000)
Balance of Terrace Waters = $170,000
This positive balance means that the assets of Waters' business is higher than the liabilities.
b. Yes, assuming that there have been no recording errors, the balance sheet prepared at December 31 will balance with Terrace Waters, Capital, being reported in the owner’s equity section as the amount of $170,000.
Therefore the balance of Terrace Waters, Capital is the amount of $170,000 and the balance sheet will balance.
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Will give Brainlist if answer is correct with explanation and quick!!!
According to the box, Online Grocery Shopping, what is Amazon's greatest challenge when it comes to competing against companies offering curbside pickup for online grocery orders at Walmart and Kroger?
A) figuring out the most efficient ways to get groceries to customers' homes
B) figuring out which local grocery stores to buy AmazonFresh products from
C) figuring out where to set up curbside pickups at Amazon distribution centers
D) figuring out where to build Amazon grocery stores around the U.S.
Answers
The greatest challenge that Amazon faces from Walmart and Kroger, which offer curbside pickup of online groceries, is C. figuring out where to set up curbside pickups at Amazon distribution centers.
With Amazon's giant online presence and performance, it can dominate the online grocery market. However, it has Walmart and Kroger to contend with because these have developed curbside pickups for online grocery orders.
The above statement implies that Amazon does not have a problem figuring out the best delivery means, the local grocery stores to buy products from, or the locations to build Amazon grocery stores.
Thus, the challenge that Amazon faces from Walmart and Kroger is Option C.
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Evaluate whether Min-Chul is right to focus more on non-financial motivators than financial
motivators to attempt to motivate employees.
Answers
The most prevalent financial motivations occur at work and entail monetary rewards. These are your extrinsic motives, often known as carrots and sticks, which are used to encourage and reward employees for specific achievement behaviors.
Financial incentives drive workers and make them aware of what they stand to gain or lose depending on their performance when they are effectively conveyed. The employee can more easily provide for their families and materially better their lives outside of work thanks to this kind of inducement. Financial incentives can also raise short-term morale and productivity.
Naturally, not everyone is driven by money, and Gallup has discovered that there is no connection between engagement and pay scale. In addition, because of their monetary character, financial motivators frequently have declining returns. Less frequent non-financial motivators are frequently intangible and do not explicitly involve money. These can take various forms, such as acknowledgment, increased accountability and faith in a position, involvement in decisions, adaptable schedules, mentoring, feedback, and others.
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is the value of all goods in an economy using current prices during the year that they were produced
Answers
Nominal gross domestic production is the value of all goods in an economy using current prices during the year that they were produced.
What is nominal gross domestic production?This is the value of all goods and services an economy produces, which is done evaluating the GDP at current market prices.
Here, there is no adjustment for inflation in nominal gross domestic production.
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Americas bank just found out that the us department of labor passed a new law
Answers
Americas bank just found the minimum wage and minimum compensation for overtime-exempt workers are rising, agricultural overtime eligibility is growing, rideshare drivers are getting access to minimum trip pay.
What are the top three responsibilities of a bank?Traveler's checks, letters of credit, etc. are distributed by banks. offering safe deposit boxes or lockers as well for the storage of valuables, important documents, and securities On behalf of its clients' continuing assurance, etc. The most important banking services are those relating to checking and savings accounts, loans and mortgages, wealth management, issuing credit and debit cards, and overdraft services.
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The Talbot Corporation makes wheels that it uses in the production of bicycles. Talbot's costs to produce 100,000 wheels annually are: Direct materials $30,000 Direct labor $50,000 Variable manufacturing overhead $20,000 Fixed manufacturing overhead $70,000 An outside supplier has offered to sell Talbot similar wheels for $1.25 per wheel. If the wheels are purchased from the outside supplier, $15,000 of annual fixed overhead could be avoided and the facilities now being used could be rented to another company for $45,000 per year. Direct labor is a variable cost. If Talbot chooses to buy the wheel from the outside supplier, then annual net operatingincome would: A. Increase by $35,000 B. Decrease by $10,000 C. Increase by $45,000 D. Increase by $70,000
Answers
Answer:
Increase in net annual operating income $35,000
Explanation:
$
Variable cost of internal production
(30,000+50,000 + 20,000) 100,000
Variable cost of purchase (1.25× 100,000) 125,000
Extra variable cost of buying ( 25,000)
Add savings in fixed cost from 15,000
Add rent from facilities 45,000
Increase in net annual operating income 35,000
Increase in net annual operating income $35,000
The balance of the the fixed cost is not relevant hence it was not considered. This is so because whatever decision is taken, it would be incurred either way
What are the differences between morals and ethics?
Answers
Joey has opened a restaurant. He paid a large amount of money up front to get the business started. He only sells products that are licensed by someone else. What type of business opportunity is Joey a part of?
Question 9 options:
1: Franchise
2: Dealership
3: Licensing
4: Network marketing
Answers
Answer:
Franchise
Explanation:
The answer is FRANCHISE
What are the challenges of Micro, Market and Macro environments?
Answers
Explanation:
Micro Environnement : Difficult employees
lack of visions and mission
lack of adequate management skills
Market : Competition
Shortage of supply
Macro : Change in income levels
labour restrictions
The challenges of the Micro environment are
Hardened and difficult workers.Lack of objectives and goals.Lack of appropriate management skills.The challenges of the Macro environment are:Change in the level of income of people.Restriction of labor supplyThe challenges that affect the market environmentLots of market competitionShortage of goods supplyRead more on macro environment here:https://brainly.com/question/26755809
Why do you think brand advocates willingly promote companies via social media
Answers
Answer:
They help create brand awareness and spread a positive image of their brand in their community. They have a greater reach and get more feedback. Hope this helped!
In its first year of operations, Roma Company reports the following:
• Earned revenues of $45,000 ($37,000 cash received from customers).
• Incurred expenses of $25,500 ($20,250 cash paid toward them).
• Prepaid $6,750 cash for costs that will not be expensed until next year.
Compute the company’s first-year net income under both the cash basis and the accrual basis of accounting.
Answers
Answer:
Net Income - Cash basis = $10000
Net Income - Accrual basis = $19500
Explanation:
The cash basis of accounting accounts for transactions that occured in cash in the period when cash changes hand. This means that transactions are recorded when the cash is paid or received rather than to the period to which they actually relate to.
Cash basis net income will be,
Net Income = 37000 - 20250 - 6750
Net Income - Cash basis = $10000
The accrual basis of accounting follows that the transactions should be recorded in the period to which they relate to rather then when the cash is paid out or received.
Accrual basis Net income will be,
Net Income - Accrual basis = 45000 - 25500
Net Income - Accrual basis = $19500
Which type of lending institutions are being described here?
______(ABC) offer short-term credit at very high interest rates, while ______(123) typically provide credit for purchasing items on an installment basis.
A. Banks
B. Credit Unions
C. Payday lenders
1. Credit Unions
2. Banks
3. Consumer finance companies
Answers
Answer:
C:Payday lenders
3. Consumer finance companies
Explanation:
The lending institutions here are:
pay day lenders offer short-term credit at very high interest rates Consumer finance companies typically provide credit for purchasing items on an installment.What is a lending institution?This is a term that is used to refer to an institution that offers loans to people.
This type of institution is known to collect financial funds from the public or other institutions and they invest the money.,
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Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Answers
Based on the cost of production by Stam Company, the overhead rate which is applied to the jobs are:
Data and Calculations:
Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $33,600 $41,900
Direct labor used (in March) $24,600 $20,300
Overhead applied (March) $12,300 $10,150
Costs during April
Direct materials used $139,000 $226,900 $102,000
Direct labor used $94,200 $161,500 $107,300
Overhead applied $55,600 $77,500 $52,500
($94,200 × 50%) ($161,500 × 50%) ($107,300 × 50%)
Job 306 - $47,100
Job 307 - $80,750
Job 308 - $53,650
The overhead rate applied for Job 306 in April is:
= Direct labor cost x 50%
= 94,200 x 50%
= $47,100
The overhead applied for Job 307 in April is:
= 161,500 x 50%
= $80,750
The overhead for Job 308 in April is:
= 107,300 x 50%
= $53,650
Hence, based on the cost of production by Stam Company, the overhead rate applied to the jobs are calculated above.
The given question is incomplete, the complete question is-
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 4. Prepare a schedule of cost of goods manufactured for the month end April 30. Stam Company Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured.
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John is out sick today. Can you take on some of his work? Below are his activities that we need to complete today. How effective is it to submit vendor invoices only?
Answers
Submitting vendor invoices only can be effective in streamlining the accounts payable process and ensuring timely payment to vendors.
Accuracy and Accountability: By focusing on vendor invoices only, the accounts payable team can prioritize the verification and validation of invoices received from vendors. This allows for a more thorough review of the invoices, ensuring accuracy in terms of pricing, quantity, and terms. It also holds vendors accountable for delivering goods or services as per the agreed-upon terms.
Cost Efficiency: By focusing on vendor invoices, the accounts payable team can allocate their time and resources efficiently. This reduces the chances of errors and duplicate payments, leading to cost savings for the organization. It also enables the team to identify any discrepancies or discrepancies in vendor invoices promptly.
Better Vendor Relationships: Timely and accurate payment of vendor invoices improves relationships with suppliers and fosters trust. It helps maintain a positive rapport, which can lead to favorable terms, discounts, and improved service from vendors.
Process Standardization: Focusing on vendor invoices allows for standardization of accounts payable processes. It streamlines the workflow, simplifies the approval process, and ensures adherence to payment policies and procedures. Standardization improves efficiency, reduces errors, and enhances overall control over the accounts payable function.
However, it is important to note that focusing solely on vendor invoices may not capture the complete picture of accounts payable management. Other aspects such as expense reports, employee reimbursements, and other payables should still be monitored and processed accordingly.
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5. What is the difference between your assets and your liabilities known as?
Answers
Answer:
The difference between your assets and your liabilities is known as either your profit or loss.
Answer:
assets are things that you might need, or are more important. Liabilities are things that are extra.
Explanation:
what are some spending areas the might be prioritized by people , yet shouldnt be ?
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Answer:Generosity first (even if it is time and support rather than money)
Mortgage/Rent (payment, insurance, utilities)
Groceries (not dining out)
Protective clothing.
Required prescriptions and medical procedures.
Utilities.
Emergency savings.
Explanation:
What is an important rule to follow concerning typography?
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Answer:
Use a consistent font throughout the document.
Explanation:
using too many different fonts can make the document look messy and unprofessional.
Bonnie’s Doll Company produces handmade dolls. The standard amount of time spent on each doll is 2.0 hours. The standard cost of labor is $20 per hour. The company planned to make 8,000 dolls during the year but actually used 17,500 hours of labor to make 9,000 dolls. The payroll amounted to $344,750. Prepare a table that shows the standard labor price, the actual labor price, the standard labor hours, and the actual labor hours.
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The actual labor price will be $19.70 and the actual labor hours per doll will be 1.94 hours per doll.
Determine the working hours.Standard Actual Labor Cost $20 per hour $19.70 per hour Dolls Planned 8,000 Dolls 9,000 Dolls Labor Hours 2 Hours 1.94 Hours Labor 16,000 hours of use 17,500 hours Payroll $320,000 $344,750 The table shows that the actual labour cost is slightly less than the standard labor cost, which is $20 per hour, at $19.70 per hour. The actual labour hours per doll are slightly less than the standard 2 hours per doll, at 1.94 hours. The company originally intended to produce 8,000 dolls, but ultimately produced 9,000 dolls. Compared to the 16,000 hours that were planned, they actually worked 17,500 hours.
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