<u>Activities</u>
- Pay Vendors
- Evaluate Vendors
- Inspect raw materials
- Plan for purchases of raw materials
<u>Cost Drivers:</u>
a) Number of different kinds of raw materials
b) Number of classes offered
c) Number of tables
d) Number of employees
What is Cost Drivers ?
A cost driver causes a change in an activity's cost. The idea is most frequently applied to allocate overhead expenses to the quantity of produced units. In order to reduce the cost of overhead, it can also be utilized in activity-based costing analysis to identify the causes of overhead. An activity-based costing system may employ a variety of cost drivers. Just one cost driver should be employed if a company just cares about adhering to the minimum accounting standards to allocate overhead to produced items. Cost drivers include things like the amount of customer interactions, engineering change orders, machine hours consumed, and product returns, as well as the number of direct labor hours performed.
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Answer:
A private limited firm refers to a corporation. A corporation’s internal sources of financing are mostly limited to its retained profits, and money realized from the sale of its assets. In case of the given example, because the company does not have enough cash on hand, it will have to rely on several external sources of financing. The most important source of procuring financing for the company is a bank loan. Thus, the company can raise money from institutions such as banks or other creditors in the form of loans. The company will need to repay loans in the future, and therefore the company will record this as a liability in its accounts. However, these ways of procuring money would help the company arrange $15,000 in order to purchase the fabric and other accessories.
The sources of financing will remain the same even in the case of a sole proprietorship; that is, retained earnings or loans from external sources such as banks. However, in the case of a public limited company, the answer would change. In the case of a public limited business, it has another option of raising financing through the issue of common or equity shares.
Answer:
illusion of control.
Explanation:
The illusion of control is the tendency for people to overestimate their ability to control events; for example, it occurs when someone feels a sense of control over outcomes that they demonstrably do not influence.
In the scenario, although Business has been consistently slow on Fridays in recent months, yet DeMarcus decides to continue with the extra staffing.
This is obviously a case of illusion because he has no control over the external business environment and there is no logical reason to continue with extra staffing.
Answer:
$100,000
Explanation:
Based on the information given Jorgensen may lessen the amount of $100,000 in the second year which is year 2 reason been that the amount are NOT FIXED amount at the end of the year 1 because the employees are qualified to receive the bonus amount only in a situation where the employees are been employed on the date the bonuses amount were been paid.
Employees Deductible Year 1 Deductible Year 2
Ken $0 $40,000
Jayne $0 $30,000
Jill $0 $20,000
Justin $0 $10,000
Total $100,000