The statement above is true. Forecasting is the utilization of notable information to decide the heading of future patterns. Organizations use estimating to decide how to apportion their financial plans or plan for expected costs for an up and coming timeframe. This is regularly in view of the anticipated interest in the products and ventures they offer.
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
1. Insurance expense for 6 months = 12,960 x 6/36
= $2,160
Prepaid insurance on December 31, 2021 = 12,960 - 2,160
= $10,800
2.Interest expense for 2 months = 220,000 x 12% x 2/12
= $4,400
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The given statement " The most appropriate match between type of product and type of process occurs as one moves away from the diagonal in the product-process matrix " is FALSE
Explanation:
An object is a tangible product which can be marketed or used to meet internal company specifications to external consumers. A method is systemic For example – a procedure can be used in order to create a commodity.
Different objects are clustered together in a process configuration.
Process models are suitable for small businesses that do not need a single product. All unit, equipment, and machines according to how a product is made are placed in a design layout.
