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olga nikolaevna [1]
2 years ago
9

When preparing a direct materials budget, beginning inventory for raw materials should be added to production needs, and desired

ending inventory should be subtracted to determine the amount of raw materials to be purchased.
Business
1 answer:
nikitadnepr [17]2 years ago
6 0

Answer:

False

Explanation:

While preparing the raw material budget for the period we calculate the total purchases to be made in the period concerned to meet the demand of raw material.

Demand in the period concerned = Total raw material required in production in current period + Total balance of inventory to be kept as closing inventory of current period - The opening available balance of inventory.

This is equal to the purchases to be made.

Thus, closing inventory is added and opening is deducted.

Therefore, the statement is question is not correct and is therefore, false.

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Petra is paying her ten employees for 40 hours a week 52 weeks each year. In 2007 Petra spent___ on wages for her employees each
Alex

Complete question:

Petra owns a coffee shop. She has ten employees.In 2007, she paid her employees minimum wage ($5.85 an hour).In 2008, the minimum wage increased to $6.55 an hour.In 2009, the minimum wage increased to $7.25 an hour. Petra is paying her ten employees for 40 hours a week 52 weeks each year. In 2007 Petra spent___ on wages for her employees each week. When the minimum wage rose in 2009, Petra had to increase her annual budget for wage from 2008 by___

Answer: $2340 ; $14,560

Explanation:

Given the following :

2007 minimum wage = $5.85/ hour

2008 minimum wage = $6.55/ hour

2009 minimum wage = $7.25/ hour

Number of Employees = 10

Number of hours = 40 hours per week for 52 weeks

Amount spent on wages per week in 2007:

Minimum wage × number of employees × number of hours per week

= $5.85 × 10 × 40 = $2340

B.)

wage increase between 2008 - 2009:

$7.25/hour - 6.55/hour = $0.7/hour

Therefore, increase in annual budget equals:

Wage increase × number of employees × number of hours per week × number of weeks

= $0.7 × 10 × 40 × 52 = $14,560

8 0
1 year ago
Read 2 more answers
Usually, the decision to notify parties outside the client’s organization regarding noncompliance with laws and regulations is t
Daniel [21]

Answer:

Management

Explanation:

Sometimes in the course of discharging his duties, an auditor might discover a case of non-compliance with laws and regulations. In such situations, he is expected to report the issue to the governing body or management of the organization who in turn notify parties outside the client's organization. This might imply reporting to the appropriate law enforcement agencies who now investigate the matter.

The auditor should ensure that he is keeping to the code of confidentiality before proceeding on such a case. The management is expected to review the report to determine if the action was indeed non-compliant with the laws before proceeding on the next call of action.

6 0
2 years ago
Which currency is normally used for conducting global trade between two countries? currency of the seller
Kryger [21]

Often times the currency used is the currency of the seller.

7 0
1 year ago
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Which expense might you pay when you rent? A. property taxes B. utilities C. maintenance D. PMI
IrinaK [193]
Utilities. Since you don't own the property, you are not responsible for paying property taxes. Your landlord should be responsible for any maintenance. PMI is insurance paid on a mortgage - which you wouldn't have as a renter.
8 0
2 years ago
"Swiss Clothing Store had a balance in the Accounts Receivable account of $920,000 at the beginning of the year and a balance of
Fudgin [204]

Answer:

Receivable days are 52 days.

Explanation:

Receivable days can be found from the following formula:

Receivables days = Receivables / Credit Sales * 365

The credit sales here is $6,650,000 during the year and the average receivables days is $950,000 [(950,000 + 980,000)/2] during the year. By putting the values we have:

Receivables days = $950,000 / $6,650,000  * 365 = 52 days

So the average receivable collection days were 52 days during the year.

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