Standard costs should be developed by: Group of answer choices The CEO The most experienced managerial accountant at the company a democratic vote of all company employees a cross-functional team of all persons who have knowledge regarding a company's costs and production processes

Answers

Answer 1

Answer:

The most experienced managerial accountant at the company

Explanation:

In simple words, By historical experience or industrial guidelines, a standard cost can be calculated. To calculate its performance, the organisation will then evaluate the typical costs versus the real performance. There is a disparity often when measuring standard costs to real outcomes. Thus, the most experiences person in accounting should compute it.


Related Questions

4. If your checking account's balance is
$3,678.89 and you withdraw $1,514, what
is the remaining balance?
A $2,164.89
B $5,192.89
C$2,614.89
D $3,678.89
(Step by step ) please

Answers

A. $2164.89
Basically just subtract, 3,678.89-1514 = 2,164.89

Which describes the purpose of non-sufficient funds fees? penalize customers for writing checks for money they don't have make sure customers keep sufficient funds in their account pay for the costs of having bank employees collect funds for withdrawals from a competitor’s machine

Answers

Answer:

A: penalize customers for writing checks for money they do not have

Explanation:

A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.

In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.

Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent non-sufficient funds (NSF) checks.

A non-sufficient funds (NSF) checks refers to a check that is not honored by the bank of the issuer due to the fact that the individual or business entity has an insufficient fund. It is also known as a bounced or bad check.

Hence, the purpose of non-sufficient funds fees is to  customers for writing checks for money they do not have. In the United States of America, the fee charged for non-sufficient funds (NSF) checks is between $27 to $35.

The purpose of non-sufficient funds fees is to penalize customers for writing checks for money they don't have.

Charges, deposits, withdrawals, as well as the starting and closing balances for each account maintained at a certain time period, are often included on a bank statement.

In order to avoid non-sufficient funds (NSF) checks, bank customers are encouraged to routinely reconcile their records with bank statements.

When a bank account does not have sufficient funds to support a payment, an NSF fee, also known as a non-sufficient funds fee, is charged.

A cheque that cannot be processed because the writer does not have enough money is referred to as a "bounced cheque."

Therefore, the correct option is "penalize customers for writing checks for money they don't have".

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In a SWOT analysis, which two things represent external conditions and factors that may affect your company? A. Strengths and opportunities B. Weaknesses and threats C. Strengths and weaknesses D. Opportunities and threats

Answers

Answer:

The SWOT analysis is done by considering two factors i.e. internal factor and external factors. The external factors are the threat and opportunities which are provided from the outside. These external factors include technological change and socio-cultural change that can affect your company.

write any 5 safety measures that should be followed while working at industry .​

Answers

Answer:

1- Personal protection for workers.

2- Health and safety signs and notices.

3- Prevention and protection for fires.

4- Protection devices and security systems.

5- Safety conditions in places where electricity represents a risk

Explanation:

Question #7
Choose the era that best matches the statement given.

The ____ immediately followed the Great Depression.

Answers

Answer:

recession

Explanation:

The great recession followed the great depression

how do I surprise my mom with a special guest and get her to make extra dinner for them so that they can eat with us to without telling her that the special guest is coming
HURRY ASAP ​

Answers

Answer:

tell her to make extra!

Explanation:

you can use excuses such as wanting to pack leftovers for a meal the next day, or saying you're extra hungry

You plan to host three recruiting events. Each event charges $100/hour. If you ran your event for two hours at each event, what would be the total cost?

Answers

Answer:

Total cost = $600

Explanation:

Given:

Number of events = 3

Cost per hour = $100

Each event time = 2 hour

Find:

Total cost

Computation:

Total cost = Number of events x Cost per hour x Each event time

Total cost = 3 x 100 x 2

Total cost = $600

Sam's Pizza is considering a new store location. For accounting purposes, fixed operating costs for a store are $245,000 a year, and variable costs are 42 percent of sales. The average pizza sells for $12.50. Compute the annual break-even sales level in number of pizzas for this store location.

Answers

Answer:

33,793   pizzas

Explanation:

The annual break-even sales level for the number of pizzas sold in the location is computed using the break-even sales units formula  below:

break-even sales=fixed costs/contribution margin per pizza

fixed costs=$245,000

contribution margin per pizza=selling price-variable cost

selling price=$12.50

variable cost=selling price*42%

variable cost=$12.50*42%

variable cost=$5.25

contribution margin per pizza=$12.50-$5.25 =$7.25

break-even sales=$245,000/$7.25 = 33,793   pizzas

What can be a benefit of using interviews to select employees to hire?
A. Insights from employees' examples
B. Accurate prediction of honesty
C. Good measurement of intelligence
D. Errors from employee bias

Answers

Answer:

B. Accurate prediction of honesty

Explanation:

Interviews are one of the most effective tools that human resource managers use to  determine if a candidate is a match or not for a specific job. Flexibility is the key word here.  That allows both the candidate and the interviewer, the possibility of understanding what are  the skills needed for a certain job and if the candidate possesses them. When someone  answers a test, you can tell if the candidate knows about the subject or not, but when he/she is interviewed, you can ask for more detail and examples that help clarify the candidate's  ideas, expectations and capabilities.  E.g. a candidate states that he/she knows how to use WordPress very well, and the interviewer can ask him/her about specific tasks to verify if that is true.

Answer:

A. Insights from employees’ examples

Explanation:

Just took the quiz.

People are living paycheck to paycheck why is that a problem

Answers

Living “paycheck to paycheck” can be a problem because most of the time people would have no money in their savings account and you wouldn’t meet your financial problems if unemployed.

What is the difference between a market economy and a command
economy?
A. A market economy is determined by central authority and a
command economy is determined by consumers.
B. A market economy is determined by consumers while a command
economy is determined by both consumers and central authority.
C. A market economy is determined by both central authority and
consumers while a command economy is determined by only
consumers.
D. A market economy is determined by consumers and a command
economy is determined by central authority.

Answers

Answer:

D: A market economy is determined by consumers and a command

economy is determined by central authority.

Explanation:

Because command economy the government own the factors of production such as land, capital, and resources.

Inflation generally means

a)all of these

b)things will cost less

c)things may cost more or less or same

d)that things will cost more

Answers

Answer:

D things will cost more

7 stores steps in decision making process

Answers

Identify the decision

To make a decision, you must first identify the problem you need to solve or the question you need to answer. Clearly define your decision. If you misidentify the problem to solve, or if the problem you’ve chosen is too broad, you’ll knock the decision train off the track before it even leaves the station.

If you need to achieve a specific goal from your decision, make it measurable and timely so you know for certain that you met the goal at the end of the process.

2. Gather relevant information

Once you have identified your decision, it’s time to gather the information relevant to that choice. Do an internal assessment, seeing where your organization has succeeded and failed in areas related to your decision. Also, seek information from external sources, including studies, market research, and, in some cases, evaluation from paid consultants.

Beware: you can easily become bogged down by too much information—facts and statistics that seem applicable to your situation might only complicate the process.

3. Identify the alternatives

With relevant information now at your fingertips, identify possible solutions to your problem. There is usually more than one option to consider when trying to meet a goal—for example, if your company is trying to gain more engagement on social media, your alternatives could include paid social advertisements, a change in your organic social media strategy, or a combination of the two.

4. Weigh the evidence

Once you have identified multiple alternatives, weigh the evidence for or against said alternatives. See what companies have done in the past to succeed in these areas, and take a good hard look at your own organization’s wins and losses. Identify potential pitfalls for each of your alternatives, and weigh those against the possible rewards.

5. Choose among alternatives

Here is the part of the decision-making process where you, you know, make the decision. Hopefully, you’ve identified and clarified what decision needs to be made, gathered all relevant information, and developed and considered the potential paths to take. You are perfectly prepared to choose.

6. Take action

Once you’ve made your decision, act on it! Develop a plan to make your decision tangible and achievable. Develop a project plan related to your decision, and then set the team loose on their tasks once the plan is in place.

7. Review your decision

After a predetermined amount of time—which you defined in step one of the decision-making process—take an honest look back at your decision. Did you solve the problem? Did you answer the question? Did you meet your goals?

If so, take note of what worked for future reference. If not, learn from your mistakes as you begin the decision-making process again

name 3 of the most famous economists and their significant contributions

Answers

1John Maynard Keynes (1882-1946)
2Friedrich August von Hayek (1899-1992)
3Milton Friedman (1912-2006)

Imagine you know someone starting off in his or her first career. Based on what you learned in the module, what financial advice would you give this person and what challenges might he or she face?

Answers

Answer:

The most important and basic financial advice we can give to a person starting his career is to only spend as much as the person earns.

Explanation:

Because starting salaries tend to be lower than average, it is not very likely that this person will be able to save, but keeping a balanced personal budget will be very helpful anyway.

A second advice is to avoid debt on consumer goods, and only use debt for long-term investments like a house or a graduate degree. Credit card debt should be specially avoided because of the very high interest rates.

Finally, a third advice is that once this person earns enough to save, to look for safe financial instruments to put his or her money, like a mutual fund or a money market fund.

Not including a warning label about choking hazards on the box of a new toy
is an example of a defect issue.
0
A. marketing
B. warranty
c. manufacturing
o
D. design

Answers

The warning label should inform customers of the risk and offer guidance on how to use the product safely. Thus, option A is correct.

What warning label about choking hazards in marketing?

In the US, warning labeling laws must include everything from fall and strangling threats to suffocation hazards and small parts.

This manual provides a succinct explanation of the warning labeling regulations for children's products in the US.

Because of this, the American National Standards Institute mandates that warning labels on products provide the following information: Potential dangers and their seriousness.

Not all items need to carry warning labels, but those that could be harmful or pose a risk to consumers must.

Therefore, marketing is not including a warning label about choking hazards on the box of a new toy is an example of a defect issue.

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Answer: MArketing would be the answer

Explanation: I just took the test

what are connections between levels of investment and economic growth during the financial crisis of 2008 and 2009

Answers

Answer:

it became better over the years

Explanation:

because after a while what ever was created became life to people in the new wrld and devices became more and more popular

Answer:

When viewed and analyzed together, economic indicators and market

indexes can provide a clear picture of economic growth. The main measure of economic growth is gross domestic product or GDP. If GDP declines, we can safely say that the economy is shrinking. Market data indicates that this change took place during the financial crisis in 2008 and 2009. These changes match trends in employment. As employment dropped, so did the economy's growth. Finally, these changes correspond to market indexes. Prices and market demand dropped as other indicators dropped in turn. Altogether, these indicators and indexes provide a clear pattern for analyzing economic changes.

Explanation:

edg 2020

To assess the risk and return involved in a purchase decision, which practical questions should a potential buyer ask? Select three options.

What can go wrong?
What are the alternatives?
How will it affect my status in society?
What is the likely return?
Is the risk worth the return?

Answers

maximizes the impact of the HR profession on organizational decision-making and ... contrast, stable employers do everything they can to retain their employees. More than three million Americans lost their jobs in 2008.

To assess the risk and return involved in a purchase decision, the practical questions should a potential buyer ask is

What can go wrong?What is the likely return?Is the risk worth the return?

What is a Risk?

Risk is the potential that something negative may occur or any uncertainty that will disturb or harm a person's well-being or asset in terms of physical damage or financial loss.

A potential buyer is one who has a keen interest in the deal and is the one who is most affected by any changes that take place in return or cause risk to business activities and purchase decisions.

Your advertising approach can be correctly aligned by understanding the consumer's thinking processes from identifying a need to generating possibilities to selecting a particular product and brand.

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question 3 answer!!!

Answers

Answer:

A

Explanation:

I mean its stating the 4Ps of the marketing mix

Crane Corporation acquires a coal mine at a cost of $476,000. Intangible development costs total $119,000. After extraction has occurred, Crane must restore the property (estimated fair value of the obligation is $95,200), after which it can be sold for $190,400. Crane estimates that 4,760 tons of coal can be extracted. If 833 tons are extracted the first year, prepare the journal entry to record depletion. (I

Answers

Answer:

Dr Depletion expense 87,465

    Cr Accumulated depletion, coal mine 87,465

Explanation:

total depreciable costs = $476,000 + $119,000 + $95,200 - $190,400 = $499,800

depletion rate = $499,800 / 4,760 tons of coal = $105 per ton of coal

depletion expense during year 1 = $105 per ton x 833 tons = $87,465

Depletion expense is similar to depreciation expense, and is primarily used by extracting companies, e.g. mines, oil companies. Accumulated depletion decreases the book value of the asset.

Dealing with pressure is unimportant in today’s business environment. Please select the best answer from the choices provided T F

Answers

Answer:

FALSE BRO

Explanation:

Answer:

false

Explanation:


What is Economic Utility

Answers

Answer:

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. ... The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service

Explanation:

Answer: The capacity of a good or service to meet the demand of a consumer. The amount of economic utility of a good or service determines what the demand will be for that good or service, which impacts the price that people will be willing to pay to obtain it

Which phrase best completes the list?
Edit: The correct answer is D

Answers

Answer:

The answer is D

Explanation:

because you can't withdrawal money whenever you want that makes long term savings have more interest then savings accounts.

What is the meaning of cash in the balance sheet?

Answers

Answer:

The cash balance reported on a balance sheet is the cash in your bank adjusted for payments and receipts that have not yet cleared. For example, writen but not cashed cheques, or recieved but not yet deposited cheques.

Explanation:

Courtney is a senior in college and just started her first job as a sales associate. At her new job, she expects to make about $24,000 per year. She is excited to receive her first paycheck, which is given twice a month. Courtney learns that 15% of her gross pay will be withheld for federal income tax, 4% for state income tax and 6% for Social Security and Medicare taxes. Help Courtney figure out what her take home, or net pay is, and how much she will pay in taxes each paycheck.
State:
Social Security and Medicare:​

Answers

Answer:

Take home $750

Taxes =$250

Explanation:

Courtney earns $24,000 per year. She is paid twice per month. One year has 12 months. Courtney will be paid 24 times a year.

Courtney will be paid $24,000/ 24 times per paycheck

=$1000

Her deductions will be

1. Federal income tax 15% of 1000

=15/100 x $1000

=$150

2. State income tax

=$4% of 1000

=4/100 x 1000

=$40

3. Social security and medicare

=6% of 1000

=6/100 x 1000

=$60

take home will be gross pay - total deductions

=$1000-($150+$40+$60)

=$1000 -$250

=$750

Total taxes per pay check =$250

Why is it important to learn to be a team player

Answers

Answer:

Businesses thrive when they have a diverse team of people who can contribute individual ideas. Teamwork helps solve problems. Collaboration within a group can help solve difficult problems. Brainstorming is a good opportunity for the team to exchange ideas and come up with creative ways of doing things.

Explanation:

Being a team player is important because otherwise you won’t succeed in life. Learning to input and share ideas is important while also letting others share their thoughts and encouraging them.

Fort Bend ISD Middle School girls’ soccer team won 14 games and lost 5 games. Represent the ratio of wins to losses.
ANSWER ASAP!!

Answers

Answer:

14 /5

Explanation:

A win/loss ratio is an expression of won opportunities to lost chances. In this case, won games against lost matches.

The formula for win/loss ratio is as below

=no. of opportunities won/ no. of opportunities lost

In this case, a total of 14 games won and five games lost

i.e., 14 games won, five lost

=14/5

explain the law of diminshing marginal utility with diagram?

Answers

Answer:

Draw graph.

Make DMU line

Draw line increasing until a peak.

Then Drop at same rate as increase.

Explanation:

Just like the law of Diminishing marginal returns, The Law of diminishing marginal utility will max out at a certain point. This point is usually where the firms payment, space, and other capabilities are maxed out at the moment.

You buy a new commercial stove for $9,000 and estimate that it will enable you to deliver 20 additional meals per night at an average price of $20. Assuming 25% food cost and no additional costs to using the new stove, how long will it take the stove to pay for itself? a)30 days, b) 90 days, c)180 days, d)365 days

Answers

Answer:

a)30 days

Explanation:

For the stove to repay itself, it will have to reach the break-even point.

the costs associated with the are the cost $9000

The gains from the stove:  20 meals per night at $20.

the cost per mean is 25% of the selling price

=25/100 x 20

=0.25 x20

=$5

The profits per meal = $20 -$5 = $15

Profits for 20 meals = $15 x 20 =$300

Dairy income from the stove is $300

To recover the cost, it will take $9000/$300 days.

=30 days

Answer:

30 days

Explanation:

Someone has shared some information with you without proof, therefore you dismiss it as a __________. Later on that day, you hear others repeating the information, you now realize that everyone involved in sharing the unofficial information, has become a part of the _________________.

Answers

Answer: Rumors

Explanation: i had this topic last year

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