Answer:
A. Debit Salaries Expense $5,400; Credit Salaries Payable $5,400
Explanation:
In the given case per day expense of salary = $1,800
Salary is paid every Monday for preceding week of 5 days.
The year ends on 31 December that is Wednesday, which means 3 days salary Monday, Tuesday and Wednesday will be liability outstanding at year end on 31 Dec and will be paid on upcoming Monday which will fall in next year.
Therefore Salary for current year for 3 days i.e. $1,800 X 3 = $5,400 will be liability for current year.
With the rule all expenses are debited Salaries Expense will be debited with $5,400 on 31 Dec
With the rule that all liabilities have credit balance Salaries Payable will be credited as a outstanding liability with $5,400 on 31 Dec.
A. Debit Salaries Expense $5,400; Credit Salaries Payable $5,400
Answer:
resource smoothing
Explanation:
According to the definition provided in the question we can say that this is regarding resource smoothing. Like mentioned in the question this term refers to a management technique that adjusts the resources so that the requirements do not surpass the resource limits that the company has specified, by delaying the noncritical activities in order to allow for the important ones first.
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Answer:
Jessica should utilize the advice offered by Alison to edit her presentation slides, removing unnecessary details.
Explanation:
Editing the presentation will enable Jessica to get rid of unnecessary and unwanted stuff. It will also ensure that the presentation is error-free and achieves grammatical accuracy. Presentation slides should not be detailed since the required details are usually given during the proper presentation.
Answer:
Option D. Provide incentives to employees, and reduce consultation charges.
Explanation:
The reason is that the company's survival is based on the cash generation mechanism which is because of increased sales. If the sale of the company are higher then it is more likely that the company is able to breakeven which means it will reach no profit and no loss position very easily. To increase the chances of survival of the business, the employees must be motivated by paying them higher pays for better service delivery and higher commissions for grabbing higher sales. Furthermore, the company must also reduce the initial consultation charges to encourage to purchase of their services and acquire greater share of the market which will grow the business.
Answer:
ChowMein Company
a. Monthly break-even point in sales dollars = Fixed Costs/Contribution margin
= $2,000/50%
= $4,000
b. Monthly break-even point in units = Fixed Costs/Contribution per unit
= $2,000/$300
= 6.67 or simply 7 units
c. Monthly income for April:
Sales ($600 * 15) = $9,000
Variable cost ($300 * 15) = $4,500
Contribution = $4,500
Fixed Costs = $2,000
Income = $2,500
d. Monthly income for May:
Sales ($600 * 20) = $12,000
Variable cost ($300 * 20) = $6,000
Contribution = $6,000
Fixed Costs = $2,000
Income = $4,000
e. Margin of Safety for April:
Sales in April minus Break-even Sales
= $9,000 - $4,000
= $5,000
Explanation:
Data and Calculations:
Unit selling price = $600
Unit variable costs = $300 ($250 + 50)
Unit Contribution = $300
Contribution margin = 50% ($300/$600 * 100)
Fixed Costs = $2,000
April sales = 15
May sales = 20
