In Scenario 18-2 Above,with Christmas Approaching,Shana Can Be Relatively Assured

question 121

Multiple Choice

In Scenario 18-2 above,with Christmas approaching,Shana can be relatively assured she will need 50,000 pounds of chocolates based on sales from the last three years.She also knows she needs this amount produced by December 15 in order to take advantage of Christmas shopping.Which of the following types of scheduling should Shana use?

• A) Forward scheduling
• B) Backward scheduling
• C) Routing
• D) Sequencing

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Definitions:

Salvage Value

Salvage value is the estimated resale value of an asset at the end of its useful life.

Useful Life

The estimated period over which an asset is expected to be used before it needs to be replaced or has significantly depreciated.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since its acquisition, reducing its book value on the balance sheet.

Journal Entry

A record of a transaction in a business's accounts, noting the accounts affected and the amounts.