At the beginning of the year, Custom Mfg. established its predetermined overhead rate by using the following cost predictions: overhead costs, $840,000, and direct materials costs, $400,000. At year-end, the company’s records show that actual overhead costs for the year are $1,151,500. Actual direct materials cost had been assigned to jobs as follows.
Jobs completed and sold $390,000
Jobs in finished goods inventory 83,000
Jobs in work in process inventory 55,000
Total actual direct materials cost $528,000
Required:
a. Determine the predetermined overhead rate.
b. Enter the overhead costs incurred and the amounts applied to jobs during the year using the predetermined overhead rate and determine whether overhead is overapplied or underapplied.
c. Prepare the adjusting entry to allocate any over- or underapplied overhead to Cost of Goods Sold.
Answers
Answer:
a) Predetermined overhead rate is 210%
b. Overhead is under-applied by $42,700
c. Particulars Debit credit
cost of goods sold $42,700 $42,700
factory overhead
Explanation:
Beginning of the year
Overhead costs = $840,000
Direct materials costs = $400,000
End of the year actual overhead cost = $1,151,500
Jobs completed and sold = $390,000
Jobs in finished goods inventory = $83,000
Jobs in work in process inventory = $55,000
Total actual direct materials cost = $528,000
a. Calculating the predetermined overhead rate= (Overhead ÷direct labor) × 100
Predetermined overhead rate= ($840,000 ÷ $400,000) × 100
= 210%
b. Factory overhead
Actual overhead = $1,151,500
Applied overhead = $528000 × 210% = $1,108,800
Difference = actual overhead- applied overhead
= $1,151,500 - $1,108,800
= $42,700 Under-applied overhead
c. Adjusting entry to allocate the above under-applied overhead cost of goods sold
Particulars Debit credit
cost of goods sold $42,700 $42,700
factory overhead
Related Questions
Specify which would be the most appropriate fiscal policy (expansionary / contractionary) response to each of the following scenarios:
A recession._____ (expansionary / contractionary)
A stock market crash that hurts consumer and business confidence. ______ (expansionary / contractionary)
Extremely rapid growth of exports.______ (expansionary / contractionary)
Rising inflation.______ (expansionary / contractionary)
A rise in the natural rate of unemployment.______ (expansionary / contractionary)
Answers
A stock market crash that hurts consumer and business confidence: Expansionary fiscal policy would also be appropriate in this scenario. By increasing government spending and/or cutting taxes, policymakers can boost demand and restore confidence in the economy.
Extremely rapid growth of exports: Contractionary fiscal policy would be appropriate in response to extremely rapid growth of exports. In this scenario, policymakers might consider reducing government spending and/or increasing taxes, in order to reduce demand and prevent the economy from overheating.
Rising inflation: Contractionary fiscal policy would also be appropriate in response to rising inflation. Policymakers might consider reducing government spending and/or increasing taxes, in order to reduce demand and curb inflationary pressures.
A rise in the natural rate of unemployment: Expansionary fiscal policy would be appropriate in response to a rise in the natural rate of unemployment. In this scenario, policymakers might consider increasing government spending and/or cutting taxes, in order to boost demand and create jobs.
help me with this ...im stuck in this
Answers
Option A is correct. The yield to maturity is given as 10.13%
How to solve for the yield to maturityThe formula to solver this is given as:
PV = C * (1 - (1 + r/2)^(-2n)) / (r/2) + F / (1 + r/2)^(2n)
Definition of terms in the formula
PV = present value (price) of the bond
C = coupon payment
r = yield to maturity (semi-annual yield)
n = number of years to maturity
F = face value of the bond
The information from the question are:
Current yield = 8% (semi-annual yield = 8%/2 = 4%)
Maturity value (F) = $1,000
Years to maturity (n) = 8
Coupon rate = 5% p.a. (semi-annual coupon rate = 5%/2 = 2.5%)
Coupon payment (C) = 2.5% * $1,000 = $25
Solve for PV
PV = $1,000 * 4% = $40
Then we would have
40 = $25 * (1 - (1 + r/2)^(-16)) / (r/2) + $1,000 / (1 + r/2)^(16)
Using RATE function in excel R = 5.065%.
Then YTM = (1 + 0.05065)^2 - 1 ≈ 0.1031 or
10.31%
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By comparing prices at different stores, consumers will:
Answers
By comparing prices at different stores, consumers will save money and make informed purchasing decisions.
How can comparing prices at different stores benefit consumers?Comparing prices at different stores allows consumers to make informed purchasing decisions and save money. By taking the time to research and compare prices, consumers can identify the best deals and discounts available for the products they intend to buy.
This practice helps them ensure that they are getting the most value for their money. It can also help consumers uncover any price discrepancies or inflated prices allowing them to avoid overpaying for goods and services.
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explain PPP in 300 words
Answers
7. Which of the following is not one of the advantages of a table, chart, or graph?
A. They can be divided into many small segments.
B. They can display a lot of information in a small space.
C. They allow you to compare data.
D. They show trends in data.
Answers
Answer:
A
Explanation:
What do insurance sales agents do?
Answers
Answer:
Explanation:
Insurance sales agents contact potential customers and sell one or more types of insurance. These agents explain various insurance policies and help clients choose the plans that suit them
Suppose that you borrow $18,000 for a new car. You can select one of the following loans, each requiring regular monthly payments: Installment Loan A: three-year loan at 5.3% Installment Loan B: five-year loan at 6.3%.
Required:
Find the monthly payments and the total interest for both Loan A and Loan B. Compare the monthly payments and the total interest for the two loans.
Answers
The monthly payment for loan A is greater than the monthly payments for loan B by $191.40, while the total interest for loan B is greater than the total interest for loan A by $1,522.20.
Comparison of Monthly Payments and Total InterestThese can be done using the formula for calculating the present value of an ordinary annuity as follows:
P = PV / (((1 - (1 / (1 + r))^n) / r)) …………………………………. (1)
Where;
1) For Installment Loan A, the monthly payments can be calculated as follows:
P = Monthly payment of Installment Loan A = ?
PV = Present value or the amount borrowed for a new car = $18,000
r = Monthly interest rate = 5.3% / 12 = 0.053 / 12 = 0.00441666666666667
n = Number of months = Number of years * 12 = 3 * 12 = 36
Substitute the values into equation (1) to find P, we have:
P = $18,000 / ((1 - (1 / (1 + 0.00441666666666667))^36) / 0.00441666666666667)
P = $18,000 / 33.2162172178177
P = $541.90
Therefore, the monthly payment of Installment Loan A is $541.90.
2) For installment Loan B, the monthly payments can be calculated as follows:
P = Monthly payment of Installment Loan B = ?
PV = Present value or the amount borrowed for a new car = $18,000
r = Monthly interest rate = 6.3% / 12 = 0.053 / 12 = 0.00525
n = Number of months = Number of years * 12 = 5 * 12 = 50
Substitute the values into equation (1) to find P, we have:
P = $18,000 / ((1 - (1 / (1 + 0.00525))^60) / 0.00525)
P = $18,000 / 51.3541976210894
P = $350.51
Therefore, the monthly payment of Installment Loan B is $350.51.
3) Total interest for Loan A can be calculated as follows:
Total interest for Loan A = (P of A * n of A) - PV of A
Total interest for Loan A = ($541.90 * 36) - $18,000
Total interest for Loan A = $19,508.40 - $18,000
Total interest for Loan A = $1,508.40
4) Total interest for Loan B can be calculated as follows:
Total interest for Loan B = (P of B * n of B) - PV of B
Total interest for Loan B = ($350.51 * 60) - $18,000
Total interest for Loan B = $21,030.60 - $18,000
Total interest for Loan B = $3,030.60
5) The comparison of the monthly payments for the two loans can be done as follows:
Difference between monthly payments for the two loans = P of A – P of B = $541.90 - $350.51 = $191.40
Therefore, the difference between monthly payments for the two loans calculated above implies that the monthly payment for loan A is greater than the monthly payments for loan B by $191.40.
6) The comparison of the total interest for the two loans can be done as follows:
Difference between total interest for the two loans = Total interest for Loan B - Total interest for Loan A = $3,030.60 - $1,508.40 = $1,522.20
Therefore, the difference between total interest for the two loans calculated above implies that total interest for loan B is greater than total interest for loan A by $1,522.20.
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Wages for a business should be about 32 percent of gross revenue. Does the Y Sample T-Shirt Company, INC make enough revenue to hire another employee?
Answers
Yes, Sample T-Shirt Company, INC currently only spends 21% of its budget on staff salaries at the moment. They therefore have room to increase this to 32%.
What does gross revenue mean?Gross revenue, commonly referred to as gross income, is the whole amount of money made by a business, excluding any amounts that have been or will be utilized for expenses.Gross income is the total of all incomes, salaries, profits, interest payments, rents, and other kinds of income for families and people before any deductions or taxes. It differs from net income, which is calculated as gross income less any applicable taxes and other deductions.Gross revenue is the sum of money a company makes from sales in a specific time frame. Net revenue is the difference between a company's sales for a specific time period and its expenses for that same time period.Learn more about gross revenue refer to :
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Think of a product you buy that is differentiated through quality. Do you believe the manufacturer's strategy to differentiate this product through quality is sustainable, or will the manufacturer eventually have to find other ways to attract you to the product? Explain your answer and include the product/manufacturer in your response.
Answers
Answer:
What the manufacturers try to do for it to look and feel high quality is a nice and good quality package like the iPhone boxes that feel nice when you have it in hand and looks nice too for you to think the iPhone is better and more supreme because the the box is good quality
Explanation:
list and identify donors restrictions about net asset and change in net asset.
Answers
Net assets with donor restrictions – The part of net assets of a not-for-profit entity that is subject to donor-imposed restrictions.
How do you define an asset?An asset is something with monetary worth and/or potential reward. A machine, a financial instrument, or a patent are examples of assets that frequently provide cash flows in the future. Personal property can include a home, car, investments, works of art, or household items.
What kind of asset is that?Intangible assets like patents, royalties, and other intellectual property are included in the category of assets together with tangible items like machinery, real estate, raw materials, and inventory.
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how can an injection benefit the South African economy
Answers
In 1967, Gary Jones purchased a house on North Bryan Street in Little Rock, Arkansas.
He and his wife lived in the house until they separated in 1993. Jones then moved into an
apartment in Little Rock, and his wife continued to live in the house. Jones paid his
mortgage each month for 30 years. The mortgage company paid the property taxes on the
house. After Jones paid off his mortgage in 1997, the property taxes went unpaid. In
April 2000, the Arkansas Commissioner of State Lands (Commissioner) attempted to
notify Jones of his tax delinquency and his right to redeem the property by paying the
past-due taxes. The Commissioner sought to provide this notice by mailing a certified
letter to Jones at the North Bryan Street address. Arkansas law approved the use of such a
method of providing notice. The packet of information sent by the Commissioner stated
that unless Jones redeemed the property, it would be subject to public sale two years
later. No one was at home to sign for the letter. No one appeared at the post office to
retrieve the letter within the next 15 days. The post office then returned the unopened
packet to the Commissioner with an “unclaimed” designation on it. In the spring of 2002,
a few weeks before the public sale scheduled for Jones's house, the Commissioner
published a notice of public sale in a local newspaper. No bids were submitted, meaning
that under Arkansas law, the state could negotiate a private sale of the property.
Several months later, Linda Flowers submitted a purchase offer. The Commissioner then mailed
another certified letter to Jones at the North Bryan Street address, attempting to notify him that
his house would be sold to Flowers if he did not pay his delinquent taxes. As with the first letter,
the second letter was returned to the Commissioner with an “unclaimed” designation. Flowers
purchased the house. Immediately after the expiration of the 30-day period in which Arkansas
the law would have allowed Jones to make a post-sale redemption of the property by paying the
past-due taxes, Flowers had an eviction notice delivered to the North Bryan Street property. The
notice was served on Jones's daughter, who contacted Jones and notified him of the tax sale.
Jones then filed a lawsuit in Arkansas state court against the Commissioner and Flowers. In his
lawsuit, Jones contended that the Commissioner's failure to provide notice of the tax sale and of
Jones's right to redeem resulted in the taking of his property without due process. The trial court
ruled in favor of the Commissioner and Flowers, and the Arkansas Supreme Court affirmed. The
U.S. Supreme Court agreed to decide the case and its central question of whether Jones was
afforded due process. How did the U.S. Supreme Court rule?
Answers
The ruling in Gary Kent Jones, Petitioner v. Linda K. Flowers et al. was that an actual notice was not required so long as the state had made some reasonable efforts to notify the party of their rights.
What was the argument?The argument in the case, Jones vs Flowers was that Jones had moved out of his house and did not receive several tax letters from the government stating that if he did not remit his taxes, the house would be sold.
Since Jones was not residing there and did not receive the letters, the house was sold. Jones argued that this violated the Fourteenth Amendment but the Supreme Court gave the above ruling.
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is a place where two parties can gather to facilitate the exchange of products
Answers
A marketplace is a physical or virtual place where two parties can gather to facilitate the exchange of goods or services. It is a space where vendors or merchants come together to sell their wares, and consumers come to buy what they need. A marketplace can be found in many forms and has evolved over time to keep up with the changing nature of trade and commerce.
Traditional marketplaces are physical locations where people gather to sell goods. They have been around since ancient times and continue to exist in many parts of the world. These marketplaces are usually located in urban areas, and vendors set up their stalls or shops to sell their wares.
They may sell food, clothing, handmade crafts, or other products. People come to these marketplaces to buy what they need, socialize, and enjoy the atmosphere.Virtual marketplaces, on the other hand, are online platforms where people can buy and sell products.
These marketplaces are accessible from anywhere with an internet connection and have become increasingly popular in recent years. Popular examples of virtual marketplaces include Amazon, eBay, and Etsy.
These platforms allow vendors to reach a broader audience and sell their products worldwide.In conclusion, marketplaces are crucial for facilitating the exchange of goods and services. They have been around for centuries, and their evolution has resulted in various forms, including traditional and virtual marketplaces.
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What is the value proposition of Tata Nano?
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Why did Henry Gantt suggest that frontline supervisors should receive a bonus for each of their workers who completed their assigned daily tasks
Answers
The reason Henry Gantt suggested this was to motivate supervisors to help their employees with training.
Views of Henry GanttBelieved that giving a bonus to supervisors with a high number of performing workers would improve business. Believed that this would inspire the supervisors to train their employees better.Henry Gantt believed in monetary compensation as a means of motivation in the workplace. He believed that this action would spur supervisors on to train their employees to be better.
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Which of the following is an accurate description of Dave Fishwick’s model of ethical banking? Check all that apply.
Banks hiring managers with local roots
Lending decisions made based on personal knowledge of the local situation
Banks attracting as many deposits as possible to purchase financial instruments
Banks linking local savers with small and medium-sized enterprises in need of finance
Answers
Description of Dave Fishwick’s model of ethical banking includes-
(a) Lending decisions made based on personal knowledge of the local situation
(c) Banks linking local savers with small and medium-sized enterprises in need of finance.
What are banks?Banks are the financial institutions that help in depositing and withdrawing money. They also help individuals to borrow funds at some interest rate for their investment.
The goal of Fishwick's strategy is to connect local individuals with small and medium-sized businesses in need of financing. It is operated by a local bank manager who bases lending choices on extensive specific experience.
Therefore, options A and C include the ethics which nowadays banks are focused on despite attracting as many deposits as possible to purchase financial instruments.
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Suppose you were browsing used furniture stores, looking for a well-made desk. The least costly desk you find has a marked price of $70.
"I don't want to pay more than $40 or $50.," you tell the shop's manager.
"Why are you asking $70?" The shop's manager replies, "It's a test of the market." What does he mean?
Why does he not let you have the desk for $40? Under what circumstances might he change his mind?
Answers
The shop's manager is saying that the marked price of $70 is a "test of the market" to see whether there are customers willing to pay that amount for the desk. This suggests that the manager is open to negotiation and may be willing to sell the desk for less than the marked price.
The shop's manager may not be willing to let you have the desk for $40 because it is below their desired selling price for the desk. However, the manager may be open to negotiating the price and may be willing to sell the desk for less than the marked price if you make a reasonable offer.
It is also possible that the manager may change their mind about the price if the desk remains unsold for a long period of time. In this case, the manager may be more willing to lower the price in order to make a sale. It is also possible that the manager may be willing to sell the desk for less if you are purchasing other items from the store or if you are a repeat customer.
On January 1, 2021, Baltimore Company issued $200,000 face value, 5%, 10-year bonds at 103. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the annual bond premium amortization. Round your answer to the nearest whole number (no cents).
Answers
Answer:
the dollar value of the annual bond premium amortization is $600
Explanation:
The computation of the dollar value of the annual bond premium amortization is shown below:
Interest paid ($200,000 × 5%) $10,000
Less: premium amortization ($200,000 × 0.03) ÷ 10) -$600
Dollar value of the interest expense $9,400
So, the dollar value of the annual bond premium amortization is $600
Annual bond premium amortized using straight-Line Method is $600.
What is straight-Line Method of Amortization of Bond?In the straight-Line Method, the bond premium or discount is charged/disbursed equally over the life of the bonds.
Given:
Face value of 5% bonds= $200,000
Maturity period= 10 years
Issue price of 5% bonds=103
Value of the annual bond premium amortization=
Interest paid=5% of $200,000=$10,000
Premium amortized= ($200,000 × 0.03) ÷ 10=$600
Interest expense=Interest paid-premium amortization
=$10,000-$600
=$9,400
Therefore, the annual bond premium amortization is $600
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Promotion is defined as a business activity that does not encourage the sale of a product or service.
True
False
Answers
Answer:
False
Explanation:
Promotion is promoting a product or service so that someone can buy it.
2. State the cause and cost of inflations in Ethiopia?
Answers
One of the main causes of the shockingly high inflation rates is a weak domestic market supply brought on by restrictions on agricultural production and a persistent depreciation of the local currency.
What are inflation's causes and effects?Demand-pull and cost-push are the two basic factors that produce inflation. Both contribute to an economy's overall price increase, although they exert pressure on prices in different ways. Demand-pull situations arise when consumer demand raises prices, whereas cost-push conditions occur when supply costs drive prices upward.
What are the definitions of inflation and its price?The rate of price growth over an extended period of time is known as inflation. The cost of living in a nation has increased, or prices have generally increased. These are examples of broad measures of inflation.
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suppose you want to open a shoe company sugges names for this
Answers
Answer:
New Kick
Boundless
Brave Sole
Laced
shoe palace
coolkicks
Will Mark as Brainliest!!! +40 extra points Spending money on medical expenses is part of this expenditures approach for calculating the GDP.
a. consumer spending
b. gross exports
c. sum of all the country's businesses spending on capital
d. sum of government spending
e. gross imports
Answers
Answer A
Explanation:
How are extended-stay hotels different from Bed and Breakfasts?
Answers
The difference between hotel and bed and breakfast is that Hotels are usually chains that are owned by larger conglomerations; B&Bs are usually independently owned
This is further explained below.
What are Bed and Breakfasts?Generally, beds & breakfasts, which are often located in quaint, historic homes, are designed to give visitors the impression that they are really staying in someone's home while they are there. A stay at a bed and breakfast can be exactly the thing for you if you're the sort of traveler who likes meeting new people no matter where they are or what they're doing while they're away.
In conclusion, The distinction between a bed and breakfast and a hotel lies in the fact that hotels are often owned by bigger conglomerates and operate as chains, while B&Bs are typically privately run and operated.
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Answer the following questions on the basis of the monopolist's situation is illustrated in the following graph.
a. At what output rate and price does the monopolist operate?
b. In the equilibrium, approximately what is the firm's total cost and total revenue?
c. What is the firm's economic profit or loss in equilibrium?
Answers
The following answers are based on a monopoly economy.
The output rate and the price at which the monopolist operates based on the graph is 100 quantities at $10.In the market equilibrium, the firm's total cost and total revenues are $750 and $1000 respectively. The firm's economic profit in the equilibrium is $250.What is a monopoly?A monopoly, as defined by Irving Fisher, is a market with "no competition," resulting in a scenario in which a certain individual or organization is the exclusive supplier of a given product.
To arrive at answer a, we need to recall that the equilibrium of a monopolist is when the Marginal Cost equals the Marginal Revenue and the Marginal Cost Curve (MC) cuts the Marginal Revenue Curve (MR ) from below.
At this point, the equilibrium output is 100, and the equilibrium price is $ 10 for every unit of production.
For the answer is b, given that the firm is producing 100 units of goods at an average total cost of $7.5 (derived from the point that aligns with MR = MC), therefore,
Total Cost = Equilibrium Output * ATC (Average Total Cost)
= 7.5 * 100
= $750
To arrive at answer c,
Recall that Economic profit is the difference between the money collected from the sale of a product and the expenses of all inputs utilized, as well as any opportunity costs, is the economic profit or loss.
Hence, Economic Profit = Total Revenue (TR) Less Total Cost (TC)
= $1000 - $ 750
= $250
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bhavik has established a timetable for comparing performance to standards. what should he keep in mind when he sets the timetable?
Answers
If Bhavik has established a timetable for comparing performance to standards The complexity of the work should be kept in mind.
Actual Performance and Standards Comparison in the Controlling Process The comparison phase establishes how much the actual performance deviates from the standard. The third stage of the controlling process, which involves comparing performance to standards, ought to be simple if the prior two stages have gone well.
In this step, real performance is compared to the standard. This comparison will show where the actual results deviate from the desired ones. When standards are established in quantitative terms, the comparison is made simpler. For instance, it is simple to compare a worker's performance in terms of the number of units produced in a week to the weekly average.
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An asset used in a four-year project falls in the five-year MACRS class for tax purposes. The asset has an acquisition cost of $6,020,000 and will be sold for $1,220,000 at the end of the project. If the tax rate is 35 percent, what is the aftertax salvage value of the asset
Answers
Answer:
The after-tax salvage value of the asset is:
= $793,000.
Explanation:
a) Data and Calculations:
Asset acquisition cost = $6,020,000
Salvage value = $1,220,000
MACRS Depreciation Expenses = $4,800,000
Project useful life or project duration = 5 years
Tax rate = 35%
Tax expense = $427,000
After-tax salvage value = $793,000 ($1,220,000 - $427,000)
b) The salvage value of the project asset is the recovery or residual value after depreciation expenses have been recognized over the project asset's useful life. Depreciation is an accounting method of spreading the cost of an asset over its useful life. There are many depreciation methods, including straight-line, double-declining, unit-of-production, sum-of-the-years digits, etc.
Traditional marketing revolves around the 4 Ps:
Answers
Traditional marketing revolves around the 4 Ps, which are Product, Price, Place, and Promotion.
These elements form the foundation of a marketing strategy for businesses.
Product: Refers to the goods or services that a company offers to its customers. It involves defining the features, design, and quality of the product.
Price: Involves determining the cost of the product or service and finding the right pricing strategy that aligns with customer expectations and market conditions.
Place: Focuses on selecting the distribution channels and locations where the product will be available for customers to purchase. It includes decisions related to retail outlets, online platforms, or direct sales.
Promotion: Involves the activities undertaken to promote and create awareness about the product. It includes advertising, public relations, sales promotions, and other marketing communication strategies.
These 4 Ps provide a framework for businesses to analyze and optimize their marketing efforts to meet customer needs, increase sales, and achieve overall business objectives.
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April Industries employs a standard costing system in the manufacturing of its sole product, a park bench. They purchased 60,000 feet of raw material for $240,000, and it takes 5 feet of raw materials to produce one park bench. In August, the company produced 10,000 park benches. The standard cost for material output was $100,000, and there was an unfavorable direct materials quantity variance of $5,000.
A. What is April Industries’ standard price for one unit of material?
B. What was the direct materials price variance for August?
Answers
(a) $100,000/10000 = $10
(b)
actual price to produce 1 park bench
= ($240,000/60,000) x 5 = $20
so the direct material price variance in august
= (10-20) x 10,000 = - $100,000
Which one of the following best describes goods produced for immediate use? A. capital goods B. commercial goods C. consumer goods D. wholesale goods E. transported goods
Answers
Answer: The best answer that describes goods produced for immediate use is C. consumer goods. Consumer goods are goods that are produced for direct use by individuals or households, as opposed to goods produced for use in the production of other goods (capital goods) or for resale to other businesses or consumers (commercial or wholesale goods). Examples of consumer goods include food, clothing, electronics, and household appliances.
You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your colleagues at Great Alaska Adventures (GAA). Earlier in the day you received a fax from the president of BlueNote, Inc. The president wants to reward her top management team by taking them on an all-expense-paid fly-fishing adventure in Alaska. She would like GAA to organize and lead the expedition. You have just finished a preliminary scope statement for the project (see below)
Answers
As indicated in the Preliminary Scope Statement, some of the potential risks associated with the fishing expedition are:
Risk of Water damage to equipment;Risk of drowningRisk of potential loss of fishing equipment. etc.What is a Preliminary Scope Statement?A Preliminary Scope Statement is a written or documented statement that highlights the significance and level of a project as well as its objectives.
When writing a Preliminary Scope Statement, the goals or objectives have to be itemized in a manner that is:
Easy to understandActionable; andMeasurable.Learn more about the Preliminary Scope Statement at:
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