Answer:
a. Warranty expense $480,000
b. Warrant liability $96,000
Explanation:
Solution-a
Warranty expense = 3%*100,000*$160
Warranty expense = $480,000
Solution-b
Warranty liability = $480,000 -($160*2,400)
Warranty liability = $96,000
Answer:
$171,619.20
Explanation:
The computation of the budgeted accounts payable balance at the end of November is shown below:
= Budgeted cost of raw materials purchases in November × following month percentage
= $286,032 × 60%
= $171,619.20
As 40% is paid in the month of purchase whereas 60% is paid to the following month. So, we recognized 60%, not 40%
Alert personnel when credentials are about to be expired
Answer:
Explanation:
In order to run a successful business each of these functions need to be present and functioning efficiently since each one depends on the other in order for the entire business to succeed. Production makes sure that the business has products to sell. Marketing makes sure that potential customers are aware of the products that the business sells. Finance makes sure that the pricing for those products, costs, and expenses (marketing) all lead to profitability when calculated. And finally, Management makes sure that all of these functions interact efficiently and are poised for success.
