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- Due to COVID-19, Northface faced a shortage of "regular" manufacturing workers and asked its executives to work on the factory floor without any extra pay. What is a possible consequence? A. favorable materials quantity variance B. Favorable labor rate variance C. Unfavorable materials price variance D. unfavorable labor efficiency varianceConsider the bill of materials (BOM) shown to the right. a. How many immediate parents (one level above) does item I have? How many immediate parents does item E have? Item I has immediate parent(s) and item E has immediate parent(s). (Enter your responses as integers.) E (1) LT = 4 1 (2) LT = 1 B (1) LT=3 F (2) LT=2 E (1) LT = 4 1 (2) LT=1 LT=2 C (2) LT=1 G (1) LT = 3 (H (1) LT = 3 D (1) LT=4 (J (2) LT=5 G (1) LT = 3PROBLEM 3-1 Analyzing transactions into debit and credit parts Joan Weber owns a business called Lawns Plus. Lawns Plus uses the following accounts: Joan Weber, Drawing Sales Advertising Expense Miscellaneous Expense Rent Expense Repair Expense Utilities Expense Cash Accounts Receivable-Central Properties Accounts Receivable-Clifton Care Center Supplies Prepaid Insurance Accounts Payable-Davis Office Supplies Accounts Payable-Huff Supplies Joan Weber, Capital Instructions: Use the forms given in the Extra Problems Working Papers. 1. Prepare a T account for each account. 2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper T accounts to show how each transaction changes account balances. Write the date of the transaction in parentheses before each amount. Transactions: June 1. Joan Weber invested $8,000.00 cash in the business. 2. Bought supplies and paid $ 120.00 cash. 3. Paid cash for rent, $ 400.00. Sold services for cash, $…
- The difference between a gross material requi rementsplan (gross M RP) and a net material requi rements plan(net MRP) is:a) the gross MRP may not be computerized, but the netMRP must be computerized.b) the gross MRP includes consideration of the inventoryon hand, whereas the net MRP doesn't include theinventory consideration.c) the net MRP includes consideration of the inventoryon hand, whereas the gross MRP doesn't include theinventory consideration.d) the gross MRP doesn't take taxes into account. whereasthe net M R P includes the tax considerations.e) the net MRP is only an estimate, whereas the gross MRPis used for actual production scheduling.2 Exercise 11-4 (Algo) Special Order Decision [LO11-4] Imperial Jewelers manufactures and sells a gold bracelet for $408.00. The company's accounting system says that the unit product cost for this bracelet is $268.00 as shown below. Direct materials Direct labor Manufacturing overhead Unit product cost $ 145 89 34 $268 The members of a wedding party have approached Imperial Jewelers about buying 24 of these gold bracelets for the discounted price of $368.00 each. The members of the wedding party would like special filigree applied to the bracelets that would increase the direct materials cost per bracelet by $6. Imperial Jewelers would also have to buy a special tool for $469 to apply the filigree to the bracelets. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any…Pipe Company orders six irrigation pumps from Quality Pumps Inc. The pumps are stored in Re-storage Warehouse. Under the terms of the order, Quality must give Pipe a warehouse receipt for the goods, which the buyer will then pick up. Title to the goods passes to Pipe when a. Quality stores the pumps. b. Pipe picks up the pumps. c. Quality gives Pipe the warehouse receipt. d. Pipe orders the pumps.
- Describe the forms of information that will be stored in the bill-of materials and inventory record files.You have been asked to take over the material management for your company, ACME Company. The person who had this role before you was John Clarke. He was the primary contact with ACME’s customers and suppliers. One of the suppliers you need to deal with immediately is JD Manufacturing. You need to send an email to Mark Smith of JD Manufacturing about late order # 239705. This order was due to you on Jan 31st, now more than 3 days past due. You want the order to be delivered and need an answer today before 3:00PM. The reason you need the answer today is you have a shipment due to a customer and this order is critical to getting your order completed and your boss has told you he needs an answer today and expects you to get it. This is a supplier you will need to deal with often. Please write the email to Mark Smith, remember he does not know you, he knew John Clarke. Be sure to add a strong subject lineS1: Cost plus contract is a contract used on long term construction contracts in which the contractor agrees to a contract price that is fixed, either at the inception or at a fixed rate per unit of output, which in some cases may be subject to cost escalation clauses. S2: Variable contract is a construction contract in which the contractor is reimbursed for allowable or otherwise defined costs, plus a percentage of these costs or a fixed fee. A. S2 True; S1 False B. S1 True; S2 False C. Both are false D. Both are true
- Ultimately, _________ was replaced by the _________ on January 1st 1995. Question 2Answer a. GATS, WTO b. WTO, GATT c. IMF, GATT d. GATT, WTOA means of limiting production delays caused by equipment breakdown and repairis to(1) schedule production based on capacity planning.(2) plan maintenance activity based on an analysis of equipment repair work orders.(3) pre-authorize equipment maintenance and overtime pay.(4) establish a preventive maintenance program for all production equipment.Which column represents the quantity that is promised to customers on existing sales orders? A. Ordered B. Available C. Committed D. In Stock The A. Find В. Add C. Update mode is the default of an item or as business master data. D. Remove When an error that reads "One of the Inventory Accounts is Missing" while adding/creating a new Item Group, it is an indicative that: A. Posting Period in not updated B. Item Master is non-existing C. Erroneous login account D. Erroneous posting date List of Statements 1. A goods receipt creates a journal entry that posts the value of the received goods on the debit side of the stock account and the credit side of the inventory offset - increase account. 2. It is possible to create a sales return without first creating a delivery, a sales order, or a sales quotation. Which of the following statement(s) above is (are) valid? A. Statement 1. B. Statement 2. C. Both statements are valid. D. Both statements are invalid. The mode is the default of…