Ribbons and Bows uses job order costing. At the beginning of July, there is only one job in Work in Process, Job 17, with costs to date of $24. During July, costs of $12 are added to Job 17, and the job is completed. Job 18 is started in July, and $30 of cost is recorded on the job cost sheet. Job 18 is also completed in July. Job 19 is started but not completed in July, and $45 is added to that job cost sheet. What is the balance in the Work in Process Inventory account at the end of July?

the answer is risk management planning

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know