When customers interact with technology and machines, the variability of the service encounter is reduced by

Answers

Answer 1

Answer: The standardization of equipment

its the right answer trust me !

Answer 2

When customers interact with technology and machines, the variability of the service encounter is reduced by the standardization of equipment. Thus, the correct option is C). the standardization of equipment

What is the importance of standardization of equipment?

Standardization refers to the process of making something by implementing and developing technical standards. Standardization of equipment means improving the quality of equipment.

Standardization results in the improved clarity which makes the individual clear about about what they what they need to do and guesswork is eliminated. It offers higher quality by which employees can refine their methods and produce better results.

It also results in increased productivity as tasks become faster and easier with repetition.

Complete question is here:-  When customers interact with technology and machines, the variability of the service encounter is reduced by A). societal norms   B). complexity   C). the standardization of equipment   D). the customer's preferences

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Related Questions

If the Moran Corp. has an ROE of 12 percent and a payout ratio of 20 percent, what is its sustainable growth rate

Answers

Answer:

9.6%

Explanation:

The ROE is 12 %

The payout ratio is 20%

The first step is to calculate tnr retention ratio

= 1-(20/100)

= 1-0.2

= 0.8

The sustainable growth can be calculated as follows

= 12×0.8

= 9.6

Hence the sustainable growth rate is 9.6%

Larry Bar opened a frame shop and completed these transactions: Larry started the shop by investing $40,700 cash and equipment valued at $18,700. Purchased $140 of office supplies on credit. Paid $1,900 cash for the receptionist's salary. Sold a custom frame service and collected $5,200 cash on the sale. Completed framing services and billed the client $270. What was the balance of the cash account after these transactions were posted

Answers

Answer:

$44,000

Explanation:

Computation of Cash account balance

Particulars                                        Amount

Initial investment of cash                $40,700

Add: Cash collected from sales     $5,200

Less: Salaries paid                          $1,900

Balance of cash account               $44,000

Wilturner Company incurs $80,000 of labor related directly to the product in the Assembly Department, and $29,000 of labor related to the Assembly Department as a whole, and $16,000 of labor for services that help production in both the Assembly and Finishing departments. The amount of direct labor and factory overhead respectively are:________

Answers

Answer:

Direct labor = $80,000Factory Overhead = $29,000

Explanation:

Direct labor is the cost of labor that was involved in the actual production process.

Factory overhead is the labor that was involved in the production but not directly involved.

Direct labor here is therefore the $80,000 that was directly related to the product.

Factory overhead is the $29,000 that was related to the Assembly department as a whole.

Managerial accounting systems report both monetary and nonmonetary information. Examples of nonmonetary information include: Multiple select question. amount of sales per customer percentage of on-time deliveries. employee satisfaction data. employee diversity.

Answers

Answer: employee satisfaction data

Explanation:

Managerial accounting helps in the provision of vital information to internal managers. Managerial accounting is useful for making planning and control decisions.

Examples of nonmonetary information include the employee satisfaction data, quality of purchase decisions etc.

A maker of soaps and lotions noticed a blind person having difficulty comparing products while shopping in one of her stores. She launched an initiative to include Braille on the packaging of all products her company produced. Which social responsibility stance below did the business owner demonstrate? Obstructionist Proactive Accommodating Defensive

Answers

Answer:

Proactive

Explanation:

Did the test myself

Proactive is the social responsibility stance below did the business owner demonstrate. Hence, option B is correct.

What is Proactive?

Being proactive is defined as "doing something in advance of an issue, a need, or a change." Being proactive entails planning for the future and placing more emphasis on the variables under your control than those outside of it. It also entails accepting accountability.

Being proactive frequently translates into leadership abilities. A proactive worker, for instance, frequently foresees the requirements of their team before others do, and they seek to address those needs. The employee may initiate contact with their supervisor to discuss issues rather than waiting for orders from them.

Employees who are proactive are driven by their own goals, creative problem solvers, and chances seekers. People are more engaged and productive at work when they feel supported and trusted by their employer. Benefits of urging workers to take initiative at work

Thus, option B is correct.

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Based on the results in (a), the CFO requested that $22,000 of cash be used to pay off the balance of the accounts payable account on December 31, 2022. Calculate the new current ratio and working capital after the company takes these actions.

Answers

Question Completion:

Crane Company

Balance Sheet

December 30, 2022

Current assets

Cash                                            $27,000  

Accounts receivable                     29,700  

Prepaid insurance                          6,000

Total current assets                 $ 62,700

Equipment (net)                          201,200

Total assets                             $263,900

Current liabilities

Accounts payable                  $ 22,000  

Salaries and wages payable       11,000

Total current liabilities          $ 33,000

Long-term liabilities

Notes payable                         79,700

Total liabilities                       $112,700

Stockholders' equity

Common stock     100,000  

Retained earnings  51,200 $151,200

Total liabilities and

stockholders' equity         $263,900

Answer:

Crane Company

                               Dec. 30       Dec. 31

Current ratio             1.9               3.64

Working capital     $29,700     $29,000

Explanation:

a) Data and Calculations:

Crane Company

Balance Sheet

December 30, 2022

Current assets

Cash                                            $27,000  

Accounts receivable                     29,700  

Prepaid insurance                          6,000

Total current assets                 $ 62,700

Equipment (net)                          201,200

Total assets                             $263,900

Current liabilities

Accounts payable                  $ 22,000  

Salaries and wages payable       11,000

Total current liabilities          $ 33,000

Long-term liabilities

Notes payable                         79,700

Total liabilities                       $112,700

Stockholders' equity

Common stock     100,000  

Retained earnings  51,200 $151,200

Total liabilities and

stockholders' equity         $263,900

                               Dec. 30       Dec. 31

Current assets       $62,700     $40,000

Current liabilities   $33,000       $11,000

Working capital     $29,700     $29,000

Current ratio             1.9               3.64

Working capital = Current assets - Current liabilities

Current ratio = Current assets/Current liabilities

what are the good characteristics of an entrepreneur?​

Answers

Answer:

Enterprises are usually regarded as the start-up of a company. Although this is true, some nuances need to be taken into account.

Entrepreneurs — either as individuals or as a team — find their own personal and professional opportunities. They make hypotheses of ways in which they can give customers value and conduct structured testing to validate their ideas.

Explanation:

Curiosity:-

Successful entrepreneurs feel curious and can constantly search for new opportunities. Curious entrepreneurs ask questions and explore different avenues rather than settling for what they think they know.

Structured Experimentation:-

The Need for structured experimentation is in conjunction with curiosity. An entrepreneur must conduct tests to determine if each new opportunity arises.

Adaptability:-

The company is changing constantly. Entrepreneurship is an iterative process that presents itself at all times with new challenges and opportunities. For every scenario, it is almost impossible to prepare.

Team Building:-

A big businessman knows their weaknesses and strengths. They build well-rounded teams that complement their ability instead of letting weaknesses hold them back.

Risk Tolerance:-

Business is often linked to risk. Although it is true that starting a business requires a contractor to take risks, they also need to do something to minimize it.

Comfortable with Failure:-

Successful entrepreneurs prepare and comfortably confront failure. The possibility of success pushes them forward rather than allow fear to hold them back.

Persistence:-

Although many successful businessmen can comfortably fail, this does not mean that they can abandon quickly. Rather, they regard failures as learning and growing opportunities.

View Policies Current Attempt in Progress In January, Dieker Company requisitions raw materials for production as follows: Job 1 $910, Job 2 $1,700, Job 3 $800, and general factory use $650. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount enter an account title for the journal entry on January 31

Answers

Answer:

Dieker Company

Journal Entry:

Debit Work in Process $3,410

Debit Manufacturing overhead $650

Credit Raw materials $4,060

To record raw materials used for production.

Explanation:

a) Data and Calculations:

Job 1                           $910

Job 2                       $1,700

Job 3                         $800   $3,410

General factory use               $650

Total                                    $4,060

Transaction Analysis:

Work in Process $3,410 Manufacturing overhead $650 Raw materials $4,060

b) While the summary journal entry is made in Work in Process, the detailed entries are made in Job 1, Job 2, and Job 3 cost sheets.

An operating lease has unequal payments over the lease term. During the first year, the payment is $14,000; total payments over the five-year lease term are $120,000. Based on the present value of the total lease payments and the implicit interest rate, interest expense incurred during the first year is $6,000. Amortization of the right-to-use asset for year 1 should be:

Answers

Answer: $8000

Explanation:

Amortization refers to the practice whereby the cost of an intangible asset is spread over the useful life of the asset. Amortization is used to lower the book value of an intangible asset or loan over a particular period of time.

Based on the information given in the question, the amortization of the right-to-use asset for year 1 should be:

= Installment - Interest

= $14000 - $6000

= $8000

Assume Plato merchandising business, which was established to purchase and sale of various products to customer. This company is a vat registered company and declares tax to the government. During the current month the business has purchased supplies for br.75, 250 Vat inclusive and sold various products for br.125, 250 before vat to customers and the business has two permanent employers to provide service to customers.
No Name of employers Basic salary Taxable allowance
1 Bulcha Deguna 5000 600
2 Solomon Adugna 6400 400

- Task 1.1 calculate the amount of direct tax for the month
- Task 1.2 determine the amount of indirect tax liability for the month
Task 1.3 list types of direct and indirect taxes

Answers

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n Office Manager uses a Periodic Review Inventory System: they check the inventory in their Office Supply Closet once every 10 days, placing an order with their supplier depending on the inventory level of the office supplies. The manager has set a restocking level of 300 post it notes for their closet. This week, the manager has counted 140 post it notes in the closet. How many post it notes will the manager order from their supplier? In other words, what is the Order Quantity?

Answers

Answer: 160

Explanation:

The number of post it notes that the manager will order from their supplier will be the difference between the restocking level and the inventory at the time of review. This will be:

= Restocking level - Inventory at the time of review

= 300 - 140

= 160

Therefore, the order quantity is 160.

The purpose of the Sarbanes-Oxley Act was to ______. Multiple choice question. provide greater scrutiny in accounting and reporting practices establish procedures for becoming a CPA eliminate accounting firms from having to hire accountants that are certified define generally accepted accounting principles

Answers

Answer: provide greater scrutiny in accounting and reporting practices

Explanation:

The Sarbanes-Oxley Act of 2002 is simply a Federal law which was out in place in order to audit and regulate the finances of public companies.

The Act is important as it helps protect employees, shareholders, and the public from fraudulent practices and accounting errors.

On May 7, Jernigan Company purchased on account 640 units of raw materials at $15 per unit. During May, raw materials were requisitioned for production as follows: 224 units for Job 200 at $13 per unit and 294 units for Job 305 at $15 per unit.

Required:
Journalize the entry on May 7

Answers

Answer:

Date               Account Title                                              Debit               Credit

May 7             Materials                                                 $9,600

                      Accounts Payable                                                            $9,600

Working:

= Units purchased * cost per unit

= 640 * 15

= $9,600

As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.

Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 15,500 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $25,200. A total of 53,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.6 for materials and $3.3 for conversion costs. The total cost of the units completed and transferred out of the department was:

a. $259,700
b. $254,180
c. $189,740
d. $225,380

Answers

Answer:

a. $259,700

Explanation:

The computation of the  total cost of the units completed and transferred out of the department  is given below:

= 53,000 units × $1.6 + 53,000 un$its × $3.3

= $84,800 + $174,900

= $259,700

Hence, the total cost of the units completed and transferred out of the department  is  $259,700

Rival is Consumption
Yes No
Excludable Yes A B
No C D

Emma's use of good x does not affect anyone else's use of good x. Neither Emma nor anyone else can be prevented from using the good. Good x is an example of the type of good that belongs in:________

a. Box D, which represents public goods.
b. Box B, which represents common resources.
c. Box C, which represents common resources.
d. Box A, which represents private goods.

Answers

Answer: A. Box D, which represents public goods.

Explanation:

A public good is referred to as a good that possesses two main characteristics which are non-rivalrous and non-excludable.

This simply means that individuals nobody can be excluded from using a public good and.itsuse by one individual doesn't affect others from using it too.

Since Emma's use of good x does not affect anyone else's use of good x and neither Emma nor anyone else can be prevented from using the good, then it's a public good.

Taylor's nominal income is $50,000 per year in Acity where the cost-of-living index is 200. Taylor is considering accepting a similar job and relocating to Becity where the cost-of- living index is 210. For Taylor's income to have the same purchasing power in Becity as $50,000 has in Acity, then Taylor's nominal income per year in Becity must equal:

Answers

Answer: $52,500

Explanation:

Taylor's real income in Acity is:

= Nominal income / Cost of living index

= 50,000 / 200

= $250

Taylor needs to be paid a nominal amount that when divided by the cost of living index in Bcity, Taylor's real income would be $250.

Real income = Nominal income / Cost of living index

250 = Income / 210

Income = 210 * 250

= $52,500

Two identical firms compete as a Cournot duopoly. The inverse market demand they face is P = 128 - 4Q. The total cost function for each firm is TC(Q) = 8Q. The price charged in this market will be

Answers

Answer: 48

Explanation:

Since TC(Q) = 8Q, the marginal cost(MC) will be = dC/dQ = 8

P = 128 - 4Q.

P = 128 - 4Q1 - 4Q2

For firm 1, the Total revenue will be:

= 128Q1 - 4Q1²- 4Q1Q2

MR1 = 128 - 8Q1 - 4Q2

Then, we'll set MR1 = MC1,

128 - 8Q1 - 4Q2 = 8

Collect like terms

8Q1 + 4Q2 = 120 .........(1)

For firm 2,

TR2 = 128Q2 - 4Q1Q2 - 4Q2²

MR2 = 128 - 4Q1 - 8Q2

Then we'll set MR2 = MC2,

128 - 4Q1 - 8Q2 = 8

4Q1 + 8Q2 = 120..........(2)

Thenz we'll multiply equation (2) by 2 and this will be:

8Q1 + 16Q2 = 240 ........(3)

8Q1 + 4Q2 = 120.........(1)

Equation (3) - equation (1) will give:

12Q2 = 120

Q2 = 120/12

Q2 = 10

Since the cost function for both firms is identical, then Q1 = 10 as well.

Q = Q1 + Q2

Q = 10 + 10

Q = 20

P = 128 - 4Q

P = 128 - (4 x 20)

P = 128 - 80

P = 48

The price charged in the market is 48.

What is the internal rate of return of a project costing $3,000; having after-tax cash flows of $1,500 in each of the two years of its two-year life; and a salvage value of $800at the end of the second year in addition to the $1,500 cash flow?a) 13%.
b) 15%.
c) 16%.
d) 19%.

Answers

the answer is B 15%
...
....
....

Your company is estimated to make dividends payments of $2.2 next year, $3.9 the year after, and $4.8 in the year after that. The dividends will then grow at a constant rate of 2% per year. If the discount rate is 9% then what is the current stock price?

Answers

Answer:

$63.01

Explanation:

The share price today is the present value of expected future cash flows which in this case are the expected future dividends and the terminal value of dividends beyond the 3rd year.

Year 1 dividend =$2.2  

Year 2 dividend =$3.9

Year 3 dividend =$4.8

Terminal value=Year 3 dividend*(1+constant growth rate)/(required rate of return-constant growth rate)

constant growth rate=2%

the required rate of return=9%

Terminal value=$4.80*(1+2%)/(9%-2%)

Terminal value=$69.94

Present value of a future cash flow=cash flow/(1+required rate of return)^n

n is 1 for year 1 dividend, 2 for year 2 dividend , 3 for year 3 dividend,  and terminal value(terminal value is stated in year 3 terms)

stock price=$2.2/(1+9%)^1+$3.9/(1+9%)^2+$4.8/(1+9%)^3+$69.94/(1+9%)^3

stock price=$63.01  

You are going to retire in 43 years. After retirement, you need $80,000 at the end of year for 25 years. How much do you have to save for your retirement every month

Answers

Answer:

Results are below.

Explanation:

I will assume an interest rate of 8% per year.

First, we need to calculate the amount required at the moment of retirement:

PV= A*{(1/i) - 1/[i*(1 + i)^n]}

PV= 80,000 * {(1/0.08) - 1/[0.08*(1.08^25)]}

PV= $853,982.1

Now, the monthly deposit required:

i= 0.08/12= 0.0067

n= 43*12= 516

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (853,982.1*0.0067) / [(1.0067^516) - 1]

A= $188.43

Gantner Company had the following department information about physical units and percentage of completion: Ch21_Q64 If materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May

Answers

Answer:

200,000 units

Explanation:

The computation of the total no of equivalent units for material during may month is given below:

Units added during May is

= 150,000 + 50,000

= 200,000 units.

Hence, the total no of equivalent units for material during may month is 200,000 units

The same should be considered and relevant  

The customer service department for a wholesale electronics outlet claims 90% of all customer complaints are resolved to the satisfaction of the customer. In order to test this claim, a random sample of 15 customers who have filed complaints is selected. Part A
Let x = the number of sampled customers whose complaints were solved to the customer’s satisfaction. Assuming the claim is true, write the binomial formula for the situation. Part B Use the binomial tables (see Table A.1in the text) to find each of the following if we assume that the claim is tru:

Answers

Answer:

Kindly check explanation

Explanation:

Given

Probability of success, p = 0.9

Number of trials = sample size, n = 15

q = 1 - p

The binomial formula for this situation is written as :

P(x = x) = nCx * p^x * q^(n-x)

P(x = x) = 15Cx * 0.9^x * (1-0.9)^(15-x)

(1) For ; P(x ≤ 13).

P(x = 0) + p(x = 1) +... + p(x = 13)

Using a calculator :

P(x ≤ 13) = 0.451 (3 decimal place)

(2) For ; P(x > 10).

Using calculator :

P(x > 10) = p(x = 11) + p(x = 12) +... + p(x = 15)

P(x > 10) = 0.9873

(3) For P(x ≥ 14).

Using calculator ;

P(x ≥ 14) = [p(x = 14) + p(x = 15)]

P(x ≥ 14) = 0.5490

(4) P(9 ≤ x ≤ 12).

P(9 ≤ x ≤ 12) = p(x = 9) + p(x = 10) + p(x = 11) + p(x = 12)

P(9 ≤ x ≤ 12) = (0.001939 + 0.01047 + 0.042835 + 0.128505) = 0.1837

(5) For P(x ≤ 9) ;

Using calculator ;

P(x ≤ 9) = p(x = 0) + p(x = 1) +... + p(x = 9)

P(x ≤ 9) = 0.00225

XYZ Manufacturing produces a single product that sells for $105. Variable costs per unit equal $74. The company expects total fixed costs to be $97,000 for the next month at the projected sales level of 3,200 units. To improve performance, management is considering several alternative actions. Each situation is to be evaluated separately. Suppose that management believes that a 10% reduction in the selling price will result in a 10% increase in sales. If this proposed reduction in selling price is implemented:__________

a. operating income will decrease by $8,000.
b. operating income will increase by $8,000.
c. operating income will decrease by $16,000.
d. operating income will increase by $16,000.

Answers

Answer:

Effect on income= $6,880 increase

Explanation:

First, we need to calculate the new selling price and the increase in the number of units sold:

Selling price= 105 / (1.1)= $95.5

Increase in number of units sold= 3,200*0.1= 320

Now, the effect on the income of the changes:

Effect on income= increase in total contribution margin

Effect on income= 320*(95.5 - 74)

Effect on income= $6,880 increase

Dallas Products is a division of a major corporation. The following data are for the most recent year of operations: Sales $ 37,080,000 Net operating income $ 3,108,960 Average operating assets $ 8,600,000 The company's minimum required rate of return 16 % The division's residual income is closest to:______

Answers

Answer:

1,732,960

Explanation:

The sales is $37,080,000

The net operating income is $3,108,960

The average operationg assets is $8,600,000

The required rate of return is 16%

The divisional residual income can be calculated as follows

= 3,108,960-(16/100×8,600,000)

= 3,108,960 - (0.16×8,600,000)

= 3,108,960-1,376,000

= 1,732,960

Hence the residual income is closest to $1,732,960

Closing entries are: Multiple Choice Made to record events that occurred during the period but have not yet been recorded. Made to transfer the balances of temporary accounts to retained earnings. Made to transfer the balances of permanent accounts to retained earnings. Optional.

Answers

Answer:

Made to transfer the balances of temporary accounts to retained earnings.

Explanation:

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.

There are four (4) main types of financial statements and these are;

1. Balance sheet: it contains financial information about assets, liability, and equity.

2. Cash flow statement: it contains financial information about operating, financial and investing activities.

3. Income statement: it contains financial information about the income and expenses of an organization.

4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.

A closing entry can be defined as a journal entry made at the end of an accounting period to transfer all balances in the temporary accounts to a permanent account.

In Financial accounting, there are four (4) main closing entries and these include;

I. Closing expenses to income summary.

II. Closing revenues to income summary.

III. Closing dividends to retained earnings.

IV. Closing income summary to retained earnings.

This ultimately implies that, closing entries are made to transfer the balances of temporary accounts to retained earnings.

Retained earnings also known as accumulated earnings, can be defined as the total amount of net income held by a corporation for its future use after paying out dividends to its shareholders.

The retained earnings statement refers to a financial statement that enumerate changes in retained earnings for an organization over a specific period of time. The retained earnings statement is the statement of owner's equity that outlines details of changes in the amount of retained earnings (profits) over a specified period in an organization.

Q2. Custom Cuts Landscaping year-end balance sheet lists current assets ast $458,600, fixed assets at $658,200, current liabilities of $425,950, and long term debt of $395,450. Calculate Custom Cut's shareholder equity.

Answers

Answer:

the shareholder equity is $295,400

Explanation:

The computation of the shareholder equity is given below:

We know that

Assets = liabilities + stockholder equity

$458,600 + $658,200 = $425,950 + $395,450 + shareholder equity

So, the shareholder equity is

= $1,116,800 - $425,950 - $395,450

= $295,400

Hence, the shareholder equity is $295,400

A sporting goods manufacturer budgets production of 45,000 pairs of ski boots in the first quarter and 30,000 pairs in the second quarter of the upcoming year. Each pair of boots require 2 kg of a key raw material. The company aims to end each quarter with ending raw materials inventory equal to 20% of the following quarter's material needs. Beginning inventory for this material is 18,000 kg and the cost per kg is $8. What is the budgeted materials need in kg. in the first quarter?
A) 90,000 kg.
B) 84,000 kg.
C) 108,000 kg.
D) 102,000 kg.
E) 120,000 kg.

Answers

Answer:

B) 84,000 kg.

Explanation:

The computation of the budgeted materials need in kg. in the first quarter is given below:

begnning inventory 18000

required for production (45000 × 2) 90000

Less: closing (30000 × 2 × 20%) - 12000

Raw material needs 84000

hence, the budgeted materials need in kg. in the first quarter is 84,000

Therefore the option b is correct

Selected accounts with amounts omitted are as follows: Work in Process Aug. 1 Balance 268,300 Aug. 31 Goods finished 168,800 31 Direct materials X 31 Direct labor 43,300 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 108,100 Aug. 1 Balance 12,100 31 Applied X If the balance of Work in Process on August 31 is $202,600, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs? a.$12,100 b.$12,990 c.$168,800 d.$108,100

Answers

Answer:

b.$12,990

Explanation:

Calculation to determine the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs

Using this formula

Overhead applied = Direct labor cost * Predetermined overhead rate

Let plug in the formula

Overhead applied= 43,300 * 30%

Overhead applied= $12,990

Therefore the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs is $12,990

Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. Palmona uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $450 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3.

Answers

Answer:

1 Jan 01

Dr Petty cash 200

Cr Cash 200

2 Jan 1

Dr Postage expense 74

Cr Merchandise inventory 29

Dr Delivery expense 16

Cr Miscellaneous expenses 43

Cr Cash 162

3 Jan 08

Dr Postage expense 74

Dr Merchandise inventory 29

Dr Delivery expense 16

Dr Miscellaneous expenses 43

C Cash 162

Dr Petty cash 250

Cr Cash 250

Explanation:

1 Preparation of the journal entry to record reimburse the fund

Jan 01

Dr Petty cash 200

Cr Cash 200

2. Preparation of the reimburse it on January 8, and

Jan 08

Dr Postage expense 74

Dr Merchandise inventory 29

Dr Delivery expense 16

Dr Miscellaneous expenses 43

Cr Cash 162

3 Preparation of jourtnal for reimburse the fund and increase it to $450

Jan 08 Postage expense 74

Merchandise inventory 29

Delivery expense 16

Miscellaneous expenses 43

Cash 162

Petty cash 250

Cash 250

how does mcdonaldization affect global relationships?

Answers

Answer:

The term McDonalization refers to a sociological and cultural concept by which the situation of depersonalization and automation of social relations and the means of economic production is described, by which it aims to generate automated structures such as those of fast food chains with the objective of optimizing performance and generating efficiency, at the expense of depersonalizing labor and social relations, leading individuals to a greater loss of their collective sentiment.

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