Transactions in a Job Order Cost System Five selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system: Materials Work in Process (a) (a) (d) (b) (c) Wages Payable Finished Goods (b) (d) (e) Factory Overhead Cost of Goods Sold (a) (c) (e) (b) Describe each of the five transactions.

Answers

Answer 1

Each of five transactions can be defined as follows:

a) Authorization for use of materials (both direct and indirect).

b) Work used in the factory  (both direct and indirect).

c) Factory over-the-counter application to employment.

d) Fulfilled jobs.

e) Goods selling costs.

Following are the description of the transaction:

For a)

A document which the manufacturing company prepares to ask for materials they need to finish production is a material requirement. It is also a material request or materials requirements document. The document the requester will retain a copy of the form, just as do the warehouse personnel.

For b)

The plant system is a production process utilizing machinery & manpower divisions. Due to the increasing price of capital for machinery & building, facilities often belonged privately to rich workers who've worked on the job.

For c)

The overhead manufacturing costs are added or applied to each work during the manufacturing process. Those costs will be included in the processing costs in conjunction with direct material and direct.

For d)

Work is finished by the operational and structural completeness of the project/works, the Commissioning has been carried thru in line with technical specs.

For e)

The direct cost of producing the commodities sold by a corporation is referred to as the costs of the materials and the work required directly to produce the goods is included. Indirect spending, such as distribution and sales force expenses, is excluded.

Learn more:

brainly.com/question/21487187


Related Questions

Hartzell Inc. had the following data for 2018, in millions: Net income = $600; after-tax operating income [EBIT (1-T)] = $700; and Total assets = $2,000. Information for 2019 is as follows: Net income = $825; after-tax operating income [EBIT (1-T)] = $1,450; and Total assets = $2,500. Assume the firm had no excess cash. How much free cash flow did the firm generate during 2019? Group of answer choices

Answers

The free cash flow of the firm generated during the period of 2019 is $950.

The following formula to be used to determine the free cash flow for the year is as follows:

Free Cash Flow during 2019 = After-tax operating income for the year 2019 - Net capital investment

= $1,450 - ($2,500 - $2,000)

= $1,450 - $500

= $950

Therefore we can conclude that the free cash flow of the firm generated during the period of 2019 is $950.

Learn more about the cash here: brainly.com/question/10776890

A company's net sales were $738,800, its cost of goods sold was $246,020 and its net income was $68,200. Its gross margin ratio equals:____________

Answers

Answer:

5

Explanation:

A claim against a customer is known as

Answers

Answer:

A claim against a customer is known as an account receivable.

When using the Total Cost of Ownership concept, explain how a supplier with a higher unit price and higher tooling cost can end up being more cost effective than another supplier with a lower unit price and tooling cost.

Answers

Total Cost of Ownership reflects all costs associated with the equipment over the lifetime of its use. Even if the unit cost and upfront tooling costs are higher for one supplier, the cost of maintenance and ongoing consumables may be lower, and may result in a lower total cost of ownership versus another supplier. A good example is how Teslas, despite the higher upfront cost versus ICE vehicles, purport to have a lower total cost of ownership because they require less maintenance.

HELP ASAP
WILL GIVE BRAINLIST

Which of the following government policies would be
least likely to encourage entrepreneurship?

O Passage of laws that enable businesspeople to write
enforceable contracts

O Establishment of a currency that is tradable in world markets

O Establishment of strict regulations specifying exactly how products should be made to ensure safety and affordability

O Passage of laws that eliminate corruption in government and
business

Answers

Answer:

I think the answer is the last one.

Explanation:

passage of laws that eliminate corruption in government and business .corruption should be eliminated, because the corruption is the main thing which is very increasing in our country, so it should be eliminated from the whole world also.

I hope this will help you..please mark my answer as BRAINLIEST if you liked it..

Passage of laws that eliminate corruption in government and business is a practice that is least likely to encourage the process of entrepreneurship in the society.  Therefore, the option D holds true.

What is the significance of entrepreneurship?

An entrepreneurship can be referred to or considered as the process of being involved in a business activity aimed at solving problems of both the society as well as the individual who is conducting such activity.

An entrepreneurial activity can be taken by anyone with an intention to primary motive of generating monetary returns in the form of profit. Social welfare activities such as stopping corruption practices is not an entrepreneurial activity.

Therefore, the option D holds true and states regarding the significance of entrepreneurship.

Learn more about the entrepreneurship here:

https://brainly.com/question/18203575

#SPJ2

The healthcare workers at HIGHEST risk of experiencing violence are:

Answers

Answer:  Although anyone working in a hospital or health care facility may become a victim of violence, nurses and other staff directly involved in patient care are at higher risk. Other hospital personnel at increased risk of violence include emergency room staff, paramedics, and hospital safety officers.

CRNS are def at a higher risk because they deal with patients who have mental issues or Alzheimer’s… these patients can attack the crns at any moment if they feel threatened. this is scary

Advantages of salaried employment

Answers

Consistency: Your employees are guaranteed a certain amount every week or month excluding bonuses. ...
Additional perks: Salaried employees are entitled to a number of paid days off every year. ...
Higher wages: Salary workers generally have more responsibilities compared to their waged counterpart.

help with Business Assignment term 3 grade 12

Answers

Answer:

¿Do you have a screenshot or the question oppositions?

Discuss the advantages and disadvantages of an optimized supply base. How can a buyer overcome the disadvantages?

Answers

Rationalization, a strategic initiative as well as methods to first decrease static or restricted-use providers begins to enable sustainable supply baseline optimization, which is termed as Supply base optimization.

Some advantages of an Optimized supply base are provided below:

Cost efficiency.Enhance output.Better Collaboration.Identify problem areas with ease.Prevention of delays.

Some advantages of an Optimized supply base are provided below:

Lack of Reliability.Complicated.Co-ordination vacuum between organizations.Trained and personalized personnel are required.Cost of execution.

A buyer can overcome the disadvantages by the following point:

Your Emergency Strategy is referred to.Creating open communication channels.Ensure the level of customer satisfaction.

Learn more about optimized supply base here:

https://brainly.com/question/1198059

Poor Joe Short was convicted in Superior Court, but he and his attorney appealed the conviction. Where was the case appealed to (exact name)?

Answers

Answer: The case was appealed to the superior court which is the highest court in jurisdiction.

Explanation: In common law system, a superior court is a court of general capability which commonly has boundless ward as to deal with the common and criminal legitimate cases.

The superior court can deal with the criminal and the common civil cases in which they have no boundations since they have the highest jurisdiction in the order so there is no limitation.

A rotary engine powers a vertical takeoff and landing (VTOL) personal aircraft known as the Moller Skycar M400. It is a flying car known as a personal air vehicle (PAV), and it is expected to make its first untethered flight in 2020. The PAV has been under development for 23 years at a total cost of $90 million. Assuming the $90 million was spent in an equal amount each year, determine the future worth at the end of the 23-year period at an interest rate of 11% per year.

Answers

To solve this problem, we first make a chart that shows the spending pattern of $90 million over 23 years.



$90 million at 11% = [math]\frac{90 \times 1.11^{23}}{100}=903.478[/math]. The future worth at the end of the 23-year is approximately $903,478.



Since the problem does not provide a standard amount of time that people usually use to measure interest rates, we can infer that this rate should be 10% per year.



Using 10% per year instead of 11%:

$90 million at 10% = [math]\frac{90 \times 1.10^{23}}{100}=897.507[/math]. The future worth at the end of the 23-year is approximately $897,507.



Since the total amount that was spent on development over a period of 23 years is $90 million and the answer in our problem has to be in millions, we have to adjust the amount.



$90 million x 100 = $9 billion. The future worth at the end of the 23-year is approximately 9 billion dollars.

What does the term "marginal" mean in economics?
a. the edge of a market
b. an additional or extra
c. illegal
d. secondary
e. trivial

Answers

Answer:

B. An Additional or extra

Explanation:

what are some sales channels for detailing cars (service)?​

Answers

Answer:

make me Brainlist

There are basically four types of marketing channels:

Direct selling;

Selling through intermediaries;

Dual distribution; and.

Reverse channels.

For a resource to be able to generate sustained competitive advantage over rivals, it must be a. ​Valuable b. ​Rare c. ​Difficult to imitate or substitute away from d. ​All of the above

Answers

C. Difficult to imitate or substitute away from

Amber wants to know how long it will take for her $4,000 deposit to grow to be worth $4,500 if she can earn 5% compound interest. How long will it take assuming she does not make any additional deposits

Answers

The number of years that should be taken for making an additional deposit is 2.41 years.

Given that,

The present value is $4,000.The future value is $4,500.The rate of interest is 5%.

The following formula should be used:

Future value = Present value × (1 + rate of interest)^number of years

$4,500 = $4,000 × (1 + 0.05)^number of years

So, the number of years should be 2.41.

Therefore we can conclude that The number of years that should be taken for making an additional deposit is 2.41 years.

Learn more about the present value here: brainly.com/question/17322936

Matt and Bree are saving for a new car. At the end of 2013, their total savings was $11,500 . In 2014, total savings increased to $12,990 . How much did Matt and Bree save in 2014

Answers

Answer:

the answer is $12,990 - $11500

which is $1,490

ANSWER=$1,490.

The opposite of Reactive Decision Making is:
Reactive Financial Planning
Decisive Decision Making
Proficient Decision Making
Proactive Decision Making

Answers

Answer:

Proactive Decision Making

Explanation:

Reactive is the opposite of Proactive

The Coase theorem will hold only if: ____________

a. people can make enforceable agreements.
b. there are no transactions costs.
c. Both of these must hold true.
d. Neither of these must hold true.

Answers

Answer:

the answer is/must be B. because it just is.

Given an equal amount of users, if the firm can only set one price, how should the firm price the no-name brand wok?​ a. ​Price low and sell to both the users

Answers

Answer:

all of the above

Explanation:

If the price is set low, around $50, both amateur cooks and expert chefs will purchase it. Selling to both types of customers will maximize profit because there are an equal amount of each. Set a reasonable price and cater to both users . Hence option A is correct .

What is pricing ?

Pricing is the process of determining the value that a manufacturer will receive in exchange for their goods and services. The producer uses a pricing strategy to make the cost of its products suitable for both the manufacturer and the consumer.

Pricing, which can be a part of a company's marketing strategy, is the process by which a company determines the price at which it will offer its goods and services.

After the product is manufactured, pricing plays a crucial role in decision-making. The determines the price future of the Product, Customer Acceptability of the Product, Return on Investment and Product Profitability. It is an instrument for rivalry.

Learn more about Pricing here

https://brainly.com/question/28167886

# SPJ 5

how does open market operations affect the levels of reserves in the banking system​

Answers

Answer:

when Markets are open active, they create large levels of liquidity and therefore banks can either increase interest rates or tighten money flow

Stock Value and Leverage Green Manufacturing, Inc., plans to announce that it will issue $2.08 million of perpetual debt and use the proceeds to repurchase common stock. The bonds will sell at par with an annual coupon rate of 5 percent. The company is currently an all-equity firm worth $7.75 million with 480,000 shares of common stock outstanding. After the sale of the bonds, the company will maintain the new capital structure indefinitely. The company currently generates annual pretax earnings of $1.58 million. This level of earnings is expected to remain constant in perpetuity. The corporate tax rate is 35 percent.
a. What is the expected return on Greens's equity before the announcement of the debt issue?b. Construct Green's market value balance sheet before the announcement of the debt issue. What is the price per share of the firm's equity?c. Construct Green's market value balance sheet immediately after the announcement of the debt issue.d.What is Green's stock price per share immediately after the repurchase announcement?e. How many shares will Green repurchase as a result of the debt issue? How many shares of common stock will remain after the repurchase?f. Construct the market value balance sheet after the restructuring.g. What is the required return on Green's equity after the restructuring?

Answers

Answer:

the question is very long explain me the question then I will help

Explanation:

thank you...

Please answee this question!! Its urgent ​

Answers

Well since it’s urgent I believe the urgency of this question would that it’s urgent?

Question 3: Accounting for values (35 marks, 300
words).
XYZ Company bought real estate properties in Boston 50 years ago
for $30,000. In 2020, a real estate appraiser inspects the properties
and concludes that their expected market value is $2 million. The
company has been using historical accounting principles for the last
50 years. A newly appointed financial manager recommends the
use of fair value accounting for the value of the properties. Discuss
the difference between the two approaches. Do you agree with the
financial manager? Why or why not?

Answers

Answer:

It is logically better to use the fair value approach because the historical value of the property is multiple times less than the present fair value of the property.

Explanation:

The difference between historical accounting principle and fair value accounting principle is that the historical accounting principle considers the value at which the property was purchased.

For example in the given question [tex]$\mathrm{XYZ}$[/tex] company brought the real estate property at [tex]$\$ 30,000$[/tex] so into the historical accounting principle the value of the property is 30000 US dollars. Whereas on the other hand the fair accounting principle considered as the the actual value of the property as per the present value.

For example in the given question [tex]$X Y Z$[/tex] company concludes that the expected market value of the price is dollar [tex]2[/tex] million. So in the given case, I totally agree with the financial manager that the the value of the property must be estimated according to the fair value accounting principle rather than historical accounting principle.

The financial manager has the the right set of skills and expertise to evaluate the property and hence his method of estimation is more correct because he considers the the fair value estimation of the property. It is logically better to use the fair value approach because the historical value of the property is multiple times less than the present fair value of the property.

Learn more about fair value accounting, refer :

https://brainly.com/question/15310814

what are reasons for looting?

Answers

Answer:

Looting after disasters.

In armed conflict.

Archaeological removals.

Looting of industry.

Wealth redistribution

Explanation:

https://en.wikipedia.org/wiki/Looting

2. The GREATEST risk of taking out
1) a payday loan is that they
employers can block payday
loans
2) often carry high percentage
rates
3) are not found in convenient
locations
4) banks will cancel one's
account for using payday lenders

Answers

Answer:

4)banks will cancel one's

account for using payday lenders

A manufacturing firm has received a contract to assemble 1000 units 78 1-54 A of test equipment in the next year. The firm must decide how to organize its assembly operation. Skilled workers, at $32 per hour each, can individually assemble the test equipment in 2.7 hours per unit. Alternatively, teams of five less-skilled workers (at $22 per hour each) can assemble a unit in 0.8 hours. Which approach is more economical

Answers

The final answer is "1,600", and the further calculation and description can be defined as follows:

The Index Number Theories approach, which believes that price and quantity data are produced in order to address different difficulties with economic optimization. The "microeconomic approach" is also well recognized.

Given:

[tex]\bold{1,000 }[/tex] assembly units.

Skilled employees can put together the testing equipment on a standalone basis in 2.7 hours apiece at $32 per hour.Costs are [tex]\bold{2.7 \times \$ 32 = \$86.4}[/tex] per unit of assembly.The unit can be set up in 0.8 hours by five under-skilled workers (at [tex]\$ 22[/tex] per hour).The unit cost [tex]\bold{= 5 \times 0.8 \times \$ 22 = \$88}[/tex].The cost of [tex]\bold{\$1.6}[/tex] is economic for a team of five under-skilled workers.

Therefore, [tex]\bold{1000 \times 1.6= \$1,600}[/tex] can be saved

Learn more:

brainly.com/question/13785110

A business that is owned and managed by one person is a(n)

Answers

Explanation:

It is called capitalism.Whereas , socialism is a business system owned,managed and financed by the government.

Remember, the budget constraint contains all possible combinations of consumption and leisure at a given wage, wealth, and price. Say Adam sleeps 9 hours a day leaving him 15 hours each day to spend on either work or leisure, if the price of ice cream is $2, Adam's wage is 12$/hour, and his wealth is $10, what is the maximum amount of hours Adam can spend on leisure if he chooses to buy 17 cups of ice cream

Answers

Yeadjdjjdjdjdjdjdjddj

Câu hỏi: Tìm một thí dụ thực tế để minh chứng cho sự thay đổi của chính sách pháp lý tác động đến chính sách bán hàng của doanh nghiệp.

Answers

Hola :) como Estes? Hghvhvhv

a branch of accounting that generates reports and information for the use of internal management for decision making purpose is known as?

Answers

Answer:

financial accounting and management accounting

Other Questions
All the biological macromolecules contain carbon hydrogen and oxygen however most do not contain nitrogen. The category that contains nitrogen are Sixteen is equal to 7 increased by the product of 3 and a number. Good afternoon guys...plz give the answer...i will mark you brainliest...class- 8subject- maths genius give the answer fast... A gas has a density of 5.56 g/L. What would the mass in kilograms of 1 m^3 of this gas Which two choices use the Distributive Property correctly?Select one or more:a. 2(8 + 3) = 8(2) + 8(3)b. 2(6 + 5) = 2(6) + 2(5)c. 3(11) = 3(5) + 3(6)d. 6(20) = 6(10) + 6(3) .A path for electricity is a circuita light bulban amperea current If a:b=b:3=3 then find the value of a. 7.005 is 1/10 of 70.55 Angle a and angle b are verticle angles if angel = (2x+26) and angle b = (3x+21) then find rhe measure of angle b PRACTICING WHAT YOU'VE LEARNEDA. The draft of the student essay below has been annotated by its ownwriter according to somebut not all-of the questions presented in thischapter's discussion of revision. As you read the draft and the writer's mar-ginal comments, think of specific suggestions you might offer to help thiswriter improve her essay. What other changes, in addition to the ones men-tioned here, would you encourage this writer to make? What strengths doyou see in this draft?My title andlead-in are too bland toattract reader's attention.Would mythesis beclearer if Isaid whatI did find?My supportingexamplescould usemore"showing"details 30the readerscan reallyunfriendliness.This paragraphhas somespecificdetailsbut it ramblesand repeatsideas. Needstighterorganization.DORM LIFEDorm life is not at all what I had expected it to be. I had an-ticipated meeting friendly people, quiet hours for studying, eat-ing decent food, and having wild parties on weekends. My dreams,I soon found out, were simply illusions, erroneous perceptions ofrealityMy roommate, Kathy, and I Holland Hall on the thirdfloor. The people on our dorm floor are about as unfriendly as theycan possibly be. I wonder whether or not they're just shy and afraidor if they are simply snobs. Some girls, for example, ignore myroommate and me when we say "hello." Occasionally, they starestraight ahead and act like we aren't even there. Other girls re-spond, but it's as if they do it out of a sense of duty rather thanbeing just friendly. The guys seem nice, but some are just as afraidor snobby as the girls.I remember signing up for "quiet hours" when I put in myapplication for a dorm room last December. Unfortunately, I wasassigned to a floor that doesn't have any quiet hours at all. I am aperson who requires peace and quiet when studying or reading.The girls in all the rooms around us love to stay up until early inthe morning and yell and turn up their music full blast. They turnmusic on at about eight o'clock at night and turn it off early inthe morning. There is always at least one girl who has musicplaying at maximum volume. Now, I am very appreciative ofmusic, but listening to "hard rock" until three in the morning isn'treally my idea of what music is. The girls right across fromcontradicts my pointsee the When graphed in the (x,y) coordinate plane, at what point do the lines x - y = 12and y= 2 intersect? answer needed with explanation A store sells DVDs for $15 and CDs for $12. What is the total cost of 5 DVDs and 6 CDs? Reflections. PLS HELP WILL MARK BRAINLIEST! if you dunno don't put anything. :)Point Q is reflected over the x-axis onto its image Q'(-7,-3). Determine the coordinates of the pre-image.(7, 3)(-7, 3)(7, -3)(-7, -3) What is the probability that a resident reports high satisfaction, given that the resident is a renter?O 13.7%O 20.0%O 36.6%O 68.2% write 1,200 in scientific notation 63/884/583/454/522/3multiplication of. proper fraction by proper fraction How do impulses transmit in the reflex action when a hot object is touched The cost of 6 pounds of almonds is $23.28. What is the constant of proportionality that relates y, the cost in dollars, to x, the number of pounds?GIVING BRAINLIEST How does the Mesopotamian River Valley exhibit the 5 characteristics of civilizations?