Answer:
$358,150
Explanation:
Cost of goods manufactured is calculated in a Schedule of Manufacturing Costs as follows :
Cost of goods manufactured = Beginning Work In Process + Total Manufacturing Costs - Ending Work In Process
where,
Total Manufacturing Costs :
Materials used in product $124,260
Depreciation on plant $69,650
Property taxes on plant $21,750
Labor costs of assembly-line $120,570
Factory supplies used $25,810
Total $362,040
therefore,
Cost of goods manufactured = $13,700 + $362,040 - $17,590 = $358,150
Answer:
Tend and befriend strategy
Explanation:
The tend and befriend strategy involves a person reacting to a situation by seeking for support from others (befriend) or supporting others (tend).
In this scenario Debra's manager publicly reprimanded her in the department meeting.
She did not react immediately but rather sought the support of her friend. She complained for two hours with her best friend to relieve the stress.
This is an example of tend and befriend reaction to stress.
Answer:
False
Explanation:
The formula for equivalent units units as follows:
Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred
Therefore, ideally,
Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.
As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.
<u>Therefore, above statement is false.</u>
In a bottom-up approach, managers should have a high level of controllability and a high level of involvement in budget setting.
<h3>What is a bottom-up budget approach?</h3>
- Bottom-up budgeting is a method of creating budgets that begins at the departmental level and works its way up.
- Each department within the organization must create a list of the supplies it requires, the projects it intends to complete throughout the upcoming fiscal year, and cost projections.
<h3>What is top-down and bottom-up budgeting?</h3>
- Departments must create budgets in top-down planning while adhering to the limitations imposed by senior leadership.
- Departments produce their own budget estimates and submit them to top leadership in a bottom-up budget.
- The two strategies are the two types of budgeting that are most frequently used.
<h3>What is bottom-up approach in accounting?</h3>
- Bottom-up forecasting is a technique for predicting an organization's future performance by beginning with basic company information and moving "up" to revenue.
- This strategy begins with thorough customer or product data before expanding to revenue.
Learn more about bottom-up approach here:
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