Answer:
Functional Replacement Cost.
Explanation: Functional Replacement Cost is the cost of acquiring another equipments which has the capacity of performing the same functions as the one being replaced. In this case,the equipment acquired may not be similar to the one which it is aimed at replacing.
Functional replacement policy is a policy or product of Insurance companies which helps subscribers to be able to replace such items which may have been destroyed by fire or other accidents.
One potential drawback of just-in-time (jit) production is that the company would face disruptions in the supply chain if the supplier of raw materials could not deliver the required materials on time.
<u>Explanation:</u>
The management strategy that aligns raw-material orders from suppliers directly with production schedules. This strategy is employed in many companies to reduce the wastage and to increase the efficiency. It requires an accurate forecast of the demand by the production team of the firm so that the production requirements can be initiated accordingly.
In spite of all the advantages like reducing the inventory costs (like warehousing, etc.) or easily spotting production mistakes, great focus on quality, etc, this method also has the following disadvantages,
- If the suppliers could not deliver the required materials on time, the entire production process will be stalled.
- Natural calamities could also intervene in the flow of materials from the supplier side
- Massive unexpected demands from the customer side cannot be managed.
Answer:
$50,530
Explanation:
The computation of the amount of expenses reported on the income statement is shown below:
= Cash paid - Opening balance of accrued expenses + Closing balance accrued expenses + Opening balance of prepaid expenses - Closing balance of prepaid expenses
= $49,850 - $1,200 + $2,100 + $630 - $850
= $50,530
We added the ending balance of accrued expenses and opening balance of prepaid expenses while deducting the ending balance of accrued expenses and closing balance of prepaid expenses
Answer:
true
Explanation:
In a workplace, role ambiguity happens when employees are not certain about what their job related roles or tasks are. They might be confused or uncertain about what is expected from them or what should they be doing. Sometimes this uncertainty involves different types of job related aspects, like behavior expectations or workplace relationships.
Obviously uncertainty is never good, because it increases stress levels, specially to new workers, but can also lower productivity of current workers that have been assigned new functions or tasks. The person in charge of stating and making things clear is the supervisor or manager, since it is normal that different opinions and views within the employees just makes things more confusing.
Answer:
Answer 1. Warranty expense to be recognized is ($11,000*0.04)=$440
Answer 2. Warranty liability at end of year one is $440
Answer 3. Warranty liability at the end of year two is ($440-$130)=$310
Answer 4.
Cash $11,000
To sales $11,000
(sale of copier recorded)
Warranty expense $440
To Warranty liability $440
(Warranty recorded at the end of year 1)
Warranty liability $130
To inventory $130
(Repairs done to copier)
