Mike's Bikes Makes Gears for Mountain Bikes

question 83

Short Answer

Mike's Bikes makes gears for mountain bikes. It is considered normal for 3% of the good gears in a batch to be defective. The spoilage costs of a defective gear are $20, but a defective gear can be sold for $5 as scrap. Batch #248 contains 103 gears, and 3 are defective. Which of the following is the correct entry to record the costs of spoilage and the sale of the scrap?

Recognize the impact of organizational morale on a company's performance and how it changes in troubled times.

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Understand the elements of effective entrepreneurial leadership.

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Definitions:

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, influencing the likelihood of that behavior being repeated.

Chattel

Personal property that can be moved, often used historically to refer to slaves as property.

Jamestown Census

The historical recordings of the population and demographic information of the Jamestown settlement, the first permanent English settlement in the Americas, established in Virginia in 1607.

Blacks

A term referring to people of African descent, often used in the context of discussing ethnic, cultural, or racial identity and issues.