The advantages to Midtown bistro, a local restaurant for conducting business online are increased potential customers, customer loyalty and customer feedbacks.
Give a brief account on benefits and effectiveness of online operations.Benefits of conducting business online include:
One advantage of the Midtown Bistro restaurant is that it will have easy access to a large number of potential consumers. In this manner, it will make advantage of the chosen web marketing and product awareness-raising platform. There will be more customers.Better and more advanced customer services will be the organization's second benefit. Direct contact between clients and the organization administration will be facilitated via an internet platform, such as a website.As a result, clients will get answers to questions right away. As a result, clients will become more devoted.Measuring effectiveness :-
The efficiency of the built web platform has a variety of effects on how the Midtown Bistro functions. An rise in client numbers will be a good indication that the online marketing and awareness strategies used have been used. Additionally, the proportion of returning clients will demonstrate how well the services have performed since the introduction of the online platform.
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Exercise 10-12 Prepare a statement of stockholders' equity (LO10-7) Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2018. Power Drive has the following transactions affecting stockholders' equity in 2018 March 1 Issues 65,000 additional shares of $1 par value common stock for $62 per share May 10 Repurchases 6,000 shares of treasury stock for $65 per sharee June 1 Declares a cash dividend of $2.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June1 October 21 Reissues 3,000 shares of treasury stock purchased on May 10 for $70 per share Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2018: Common Stock, $100,000; Additional Paid-in Capital, $5,500,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2018, is $700,000 Required Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
There are a few processes in the fundamental accounting process of documenting transactions. The first step is to locate the event and the affected accounts.
What do credit and debit mean?Money is entered into an account as a debt (dr), and it is taken out of an account as a credit (cr).
Briefing:
Date Particulars Debit Credit
Mar 1 Cash A/c (65000 × $62) Dr 4030000
Common stock A/c (65000 × $1) 65000
Additional pain-in capital 3965000
May 10 Treasury shares A/c (6000 × $65) Dr 390000
Cash A/c 390000
June 1 Cash Dividend A/c Dr 318000
Dividend payable A/c 318000
(100000 + 65000 + 6000) × $2
July 1 Dividend payable A/c Dr 318000
Cash A/c 318000
Oct 21 Cash A/c (3000 × $70) Dr 210000
Treasury shares A/c (3000 × $65) 195000
Additional pain-in capital A/c 15000
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What is the most important step in problem solving?
Understanding your process is THE MOST IMPORTANT part of systematic problem solving. It’s your lifeline throughout the entire project.
The most important step in problem solving is to identify the problem and break it down into smaller parts that are easier to solve.
What is problem solving?Problem solving is the process of identifying a problem, developing a plan to address it, and then implementing the plan to reach a desired outcome. It involves creative thinking, decision making, and troubleshooting. Problem solving involves analyzing the situation, breaking it down into smaller pieces, and finding solutions. It also involves taking action, learning from mistakes, and adapting to changing circumstances. Problem solving requires the ability to think critically, identify patterns, and develop creative solutions. It is an essential skill for succeeding in both the workplace and in life.
Once you have identified the problem and broken it down, you need to analyze the problem and come up with possible solutions. After that, you need to evaluate the solutions and select the best one. Finally, you need to implement the solution and monitor its effectiveness.
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An unlicensed assistant may do all of the following activities, EXCEPT:
A. assist the licensee with administrative duties and tasks
B. exhibit units for rent and provide tenants with information about the lease agreement
C. exhibit homes that are for sale and show the buyer around the home
D. fill in preprinted lease agreements and collect monies from prospective tenants, as long as the employee does not negotiate rents
An unlicensed assistant may do all of the following activities, except exhibit homes that are for sale and show the buyer around the home.
Which of the following actions is permissible for an unlicensed assistant?Unlicensed assistants are permitted to mail, deliver, pick up, or arrange for the mailing, delivery, or picking up of documents or other instruments related to the transaction, including obtaining signatures on the documents or other instruments from the principals, parties, or service providers in connection with the transaction.
These tasks may be carried out by an unauthorized personal assistant: Dispatch calls to a licensee by picking up the phone. listing and updating a multiple listing service (MLS) Once a deal has been reached, follow through on loan agreements.
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An invoice is never subject to both trade and cash discounts. true false
False. Since, an invoice is a subject to both cash and trade discounts.
How does an invoice is a subject to both trade and cash discounts?An invoice, or tab is a commercial document issued by a Seller to a Buyer in connection with a sale transaction, specifying the products, quantities and agreed prices for the products or services provided by the Seller to the Buyer. Payment terms are normally stated on the invoice.
Transaction rebates are not explicitly reflected in the company's books of accounts and all transactions are entered in the sales ledger as a net amount. In contrast, cash discounts on the finance book are shown separately as an expense on the income statement. Not all invoices receive a cash discount. If no cash discount is offered, the invoice issuer will only require full payment. "n/30", for example, indicates that no cash discount applies and the credit period ends 30 days after it started.
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a new car dealer can reduce the list price of a new ford escape suv by offering you a of $1,000 for your 2008 nissan sentra.
A new car dealer can reduce the list price of a new ford escape SUV by offering you a trade- in allowance of $1,000 for your 2008 Nissan Sentra.
An auto dealership, is a business that sells new or used vehicles to the public under a dealer agreement with an automaker or its sales subsidiary. car. Replacement parts and auto repair services are regularly offered at auto dealerships.
Early automakers sold their products directly to consumers or through a variety of channels, such as mail order, department stores, and street vendors. William E. Metzger opened the first dealership nationwide in 1898. Most U.S. states have franchising laws that restrict direct sales from automakers to customers by requiring new cars to be sold only by authorized independent dealers. licensed and binding.
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Mobile marketing is used to enrich the brand experience, stimulate immediate buying, or ________.A) decrease advertising costsB) help friends contact friendsC) make shopping easierD) create new customer relationshipsE) find new suppliers
A) Mobile marketing is used to enrich the brand experience, stimulate immediate buying, or decrease advertising costs.
How much does advertising cost?A type of financial accounting known as advertising costs accounts for expenses incurred in promoting a business, organization, brand, product, or service. They cover direct mail advertising, broadcast time, radio time, and advertisements in print and online venues.
What are some examples of the costs of advertising?Copywriting, graphic design, commissions, generating leads, and broadcast production are all examples of these expenses. Production, overhead, media purchases, and commissions are all included in an accurate advertising budget.
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benitez company currently outsources a relay switch that is a component in one of its products. the switches cost $40 each. the company is considering making the switches internally at the following projected annual production costs: unit-level material cost $ 5 unit-level labor cost $ 4 unit-level overhead $ 3 batch-level set-up cost (4,000 units per batch) $ 42,000 product-level supervisory salaries $ 46,000 allocated facility-level costs $ 37,000 the company expects an annual need for 4,000 switches. if the company makes the product, it will have to utilize factory space currently being leased to another company for $3,200 a month. if the company decides to make the parts, total costs will be: multiple choice $14,400 more than if the switches are purchased. $51,400 more than if the switches are purchased. $31,600 less than if the switches are purchased. $37,000 less than if the switches are purchased.
The cost of buying switches instead of creating them will increase by $10,500, claims the statement.
What does the term "company" mean?A organization is a legal person that a group of people to conduct and manage a business venture, whether it be corporate or industrial. Depending here on corporate legislation of its country, a corporation may be set up in a variety of ways including tax and financial responsibility reasons.
Briefing:Incremental analysis: Incremental analysis determines the benefit or loss from taking one course of action than taking another. Incremental analysis is used in decision making. It helps to select most profitable course of action.
Calculating the gain or loss from choosing one line of treatment over another using incremental analysis. Making decisions involves the application of incremental analysis. It aids in making the most lucrative decision.
Net benefit or drawback: The benefits or drawbacks of choosing 1 course of action over another are:
Gain from proposal 1 minus Gain from proposal 2 is the net advantage/(disadvantage).
Choosing a purchase or make choice involves taking incremental expenses into account. Products be obtained from an outside source if manufacturing costs are greater then buying costs, otherwise they are created internally.
Consequently, the total cost of switching is $110,500.
Materials costs, labor costs, variable costs, supervisor wages, and rent loss due to not leasing space are all included in the total cost of creating switches. Rent lost seems to be an opportunity cost that matters when choosing to manufacture or purchase. Allocated expenses are irrelevant for making decisions since they remain constant regardless of the course of action. The whole cost is $110,500.
calculating the additional cost or value of making changes as opposed to buying them from an outside provider.
The price of switches is:
[tex]\begin{aligned}\text { Purchase cost } & =\text { Number of switches } \times \text { Cost per unit } \\& =5,000 \times \$ 20 \\& =\$ 100,000\end{aligned}[/tex]
Purchase costs are $100,000, but production costs are $110,500. Making materials will result in an extra expense of $10,500 since the cost of production is greater than the price of purchasing.
Extra cost is the extra expense spent by manufacturing components as opposed to buying them. Parts of Step 1 cost $110,500 to produce. The acquisition will cost $100,000. That leads in an additional expense of $10,500 for manufacturing.
Therefore, if the switching are obtained, the price of manufacturing switches will increase by $10,500.
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When Theresa Martinez relocated from the East to the Midwest, she needed to find a bank with offices in her new state. Several banks offered banking products (checking and savings accounts, loans, certificates of deposit) and other financial products (mutual funds, insurance) that were available from her former bank. After selecting U.S. Bank, Theresa needed some help with her accounts and went to visit her personal banker. She was very impressed with the banker's attitude and willingness to explain certain items to her in terms she could understand. The service Theresa received from the U.S. Bank representative exhibited __________ properties.
A. expertise
B. search
C. customer relationship
D. credence
E. experience
The service Theresa received from the U.S. Bank representatives exhibited experience Properties. Hence Option E. Experience is the correct answer.
Experience is used to describe conscious events in general, perceptions in particular, or the knowledge and comfort that are produced by these conscious processes. Typically, experience is equated with perception and set apart from other categories of conscious experiences, such as thinking and imagining. In a slightly different context, experience refers to the knowledge and comfort that conscious events create rather than the conscious events themselves. In this regard, it is crucial that knowledge originates from direct perceptual contact with the outside world.
The definition of property states that it is something that a person or business has legal control over. They might have certain legal claims to some objects. Most real estate is an asset because it has or will have financial value in the future.
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ash flows from investing activities, it's important to review where a company's investment activity falls within its financial statements. There are three main financial statements: the balance sheet, income statement, and cash flow statement.
Organizations should monitor and analyze three main types of cash flow: cash flow from operating operations, cash flow from investment activities, and cash flow from financing activities. These three categories of cash flow can be used to determine the liquidity and solvency of the company. All three appear on the cash flow statement of a business.
What are the three financial statements?
Income statement, balance sheet, and cash flow statement are all required financial statements.
Trading professionals can utilize these three statements as instructional tools to evaluate a company's financial standing and swiftly ascertain its true worth.
Why Are Investment Activities Important?
The line item for investing activities is one of the most significant ones on a company's cash flow statement.
You can learn from them about how a company might develop in the future and generate more income.
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TRUE OR FALSE the gatt agreement has an escape clause whereby member nations may levy increased duties on imported products where there are unforeseen circumstances that cause or threaten serious injury to domestic producers
The statement is true because the GATT accord features an exit clause allowing member states to charge high taxes on imports when unveil result in or pose a danger to harm domestic manufacturers.
What does the word "product" mean?Any good or service you offer to satisfy an user's need or desire is a product. There are both real and virtual ones. Durable things (such as automobiles, furniture, and laptops) and highly perishable items are examples of physical products (like food and beverages).
What kind of items come to mind?Electronics, furniture, jewellery, etc. are a few examples. These goods often have higher price points. These items are scheduled purchase. Specialty Items: Customers take extra steps to purchase niche goods.
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Riojas, Incorporated, is an all-equity firm with a weighted average cost of capital of 13.3 percent. The current market value of its equity is $4.2 million Assume there are no taxes. According to MSM Proposition I, what will be the value of the company if it changes to a debt-equity ratio of 627
$4.2milion the value of the company if it changes to a debt-equity ratio of 627.
What is the M&M theory and how is it used?One of the most significant theorems in corporate finance is the M&M Theorem, often known as the Modigliani-Miller Theorem. The economists Merton Miller and Franco Modigliani formulated the theorem in 1958. According to the M&M theory, a company's capital structure has no bearing on its overall worth.
According to the Modigliani-Miller theorem (M&M), a firm's market value may be accurately determined as the sum of its underlying assets and its future net present value of profits. This calculation is made independently of the capital structure of the company. The M&M theory: what is it and how does it work?
According to M&M proposition 1,
if there are no taxes,
Value of the levered firm = the value of unlevered firm.
value of company = $4.2milion
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anchoring bias is the tendency to: focus on the end result, using it as an anchor and assuming that nothing will change in the future. focus on the desired result and form all other expectations in relation to it. begin with an anchor, or starting point, and insufficiently adjust from there. skew probability toward a vivid, easily recalled event.
Anchor bias tends to: start with an anchor or beginning point and think about marketing strategy and Black Friday sales.
What is anchoring bias?Anchor bias is a cognitive bias that relies excessively on the first information the people already have or the first information they find to make a decision. When we plan or estimate something, we interpret the latest information from an anchor point of reference rather than looking at it objectively. For example, if first he sees a $1,200 T-shirt, then second T-shirt for $100, he tends to look at the second T-shirt cheaply.
What does anchoring bias mean in healthcare?Anchoring bias is closely related to confirmation bias and works in interpreting evidence. This refers to the practice of doctors prioritizing information and data that support a first impression, even if the first impression is wrong.
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Reflect or think about an example where you have witnessed or experienced role conflict or team failure and the two types of ambiguity. State what happened and how you reduced the role conflict, addressed the team failure, or resolved the type of ambiguity.
A manager (John) hires his best friend (Ron) for operational job. Ron finds it very difficult to work after he tried his best to understand the job work or role. Other employees of the company also suffered because he is not able to perform his duties effectively.
As the time went on, it was clear that he was not able to handle responsibility, stress, or new work. John was also not able to punish him or scold him for his wrong doing because of the friendship they both share.
Manager has to redo, or do, 70% of the work from his desk. Manager also provides training to him, but nothing worked. Due to the emotional aspect of the hiring decision, the employees, company, him were affected. This put a serious strain on their friendship. The company suffered because John was not able to do his own work also because of double work- load. And also, company was paying a salary and benefits for an extra employee, but production was low.
This is the situation of role conflict for manager (John). He is not balancing between two role on is of a manager (employee of the company), and a friend of Ron.
Reduce conflict- when, everything go beyond the hands of manager, the company’s management talked with the manager and ask him to find solution. John (manager) privately talks with the Ron and explains him the whole situation.
Ron is also not happy with the job role. John (manager) found new job according to his skills in different company and Ron was also happy with this decision. Ron left the John’s company and they both perform their job roles effectively and efficiently.
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records from ar random sample of dairy farms yeilded the infomation vwloq on rhw numbwe od mkw ns female calves
The probability that a randomly selected calf was born in the night or female can be : 369/513
The correct option is (a)
Now, According to the question:
The number of male and female calves born at various times of the day:
Day Evening Night Total
Males 129 15 117 261
Females 118 18 116 252
Total 247 33 233 513
The probability rules:
General addition rule: P(A or B) = P(A) + P(B) - P(A and B)
Complement rule: P([tex]A^c[/tex]) = P(not A) = 1 - P(A)
P(B | A) = P(A∩B)/P(A) = P(A and B)/P(A)
The probability is the number of favorable outcomes divided by the number of possible outcomes.
P(Born at night) = [tex]\frac{233}{513}[/tex] P(Female)= [tex]\frac{262}{513}[/tex] P(Female and born at night) = [tex]\frac{116}{513}[/tex]
Hence, the probability that a randomly selected calf was born in the night or female can be determined by:
P(Female or born at night) = P(Female) + P(Born at night) - P(Female and born at night)
= [tex]\frac{223}{513} + \frac{262}{513}-\frac{116}{513}[/tex]
= [tex]\frac{223+262-116}{513}[/tex]
= [tex]\frac{369}{513}[/tex]
The correct option is (a)
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The complete question is this:
Records from a random sample of dairy farms yielded the information below on the number of male and female calves born at various times of the day.
Day Evening Night Total
Males 129 15 117 261
Females 118 18 116 252
Total 247 33 233 513
What is the probability that a randomly selected calf was born in the night or was a female ?
a) 369/513
b)485/513
c)116/513
d) 116/252
Differenciate the different Between economic and Commercial activities
Answer:
Explanation:
Commercial activities include those features of an economy that are bound to the interchange of commodities, services, and labor exercises, whereas, economic activity draws and encourages a variety of industries.
enables a manager to make decisions, give orders, and utilize resources. For example, the manager of a local coffee shop has the right to hire and fire new employees based on their punctuality, performance, and customer service ratings. A Instrumentality B An informal culture Expectancy D Valence E Authority
To make decisions, give orders, and manage resources, a manager needs authority.
What enables a manager to make judgment calls, issue directives, and allocate resources?To make decisions, give orders, and distribute resources in order to achieve organizational goals, a manager must have official, legal authority. The authority of a manager is specified in the job description.
What kind of manager is in charge of raising the funds required for the organization's smooth operation?Financial managers typically keep tabs on a business's finances and work to maintain its viability. They are in charge of crucial tasks like keeping track of cash flow, figuring out profitability, controlling spending, and acquiring reliable financial data.
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TRUE/FALSE. any person eligible to be a debtor under a given bankruptcy proceeding may file a voluntary petition, but must be insolvent to do so. individual debtors must receive credit counseling before filing a bankruptcy petition under most circumstances. the bankruptcy code grants to u.s. district courts original and exclusive jurisdiction over all bankruptcy cases. a trustee in bankruptcy under chapter 7 may sell property included in the debtor's estate. a debt is an obligation to pay money owed by a debtor to a creditor.
Additionally, a person must have received credit counseling from an accredited credit counseling organization within 180 days prior to filing in order to qualify as a debtor under chapter 7 or any other chapter of the Bankruptcy Code. This counseling can be received individually or in a group setting.
A bankruptcy debtor may be anyone?Only those who "reside or have a domicile, place of business, or property in the United States or a municipality" are eligible to file for bankruptcy under section 109(a) of the Bankruptcy Code.
Only a voluntary petition filed in Bankruptcy Court by a debtor can start a Chapter 13 action.
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American clothing manufacturer simple suits was sued in new york courts by watchdog groups that discovered the poor working conditions in manufacturing plants in a u.s. territory. customers are typically concerned with human rights abuses and other problems with supplier relationships at home and abroad.
True or False
The given statement that the American clothing manufacturer Simple Suits was sued in New York courts by watchdog groups that discovered the poor working conditions in manufacturing plants in a U.S. territory is true.
What is the importance of working conditions?Workplace variables that have an impact on productivity include working hours, stress levels, level of safety, and danger. The motivation of the personnel, and therefore their performance, is highly influenced by improving the work environment and conditions. If a bad work environment may ruin your company, a great work environment can do the exact opposite.
The staff is considerably more likely to produce their best job when they are content, engaged, and joyful. They will become infinitely more productive and less prone to errors. Morale and productivity at work can be greatly affected by the workplace environment. Additionally, by lowering the likelihood of workplace accidents, good working conditions also preserve the well-being of their employees reducing financial liabilities and the need to take time off.
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match each switch management method on the left with its corresponding characteristics on the right. each method may be used once, more than once, or not at all.
In-Band Management, Competes with normal network traffic for bandwidth, Must be encrypted to protect communications from sniffing or affected by network outages.
How do you define a network?In order to share resources (such printers and CDs), trade files, or enable electronic communications, two or more computers are connected to form a network. A computer network can connect its computers through wires, phone lines, radio waves, satellites, or infrared light beams.
How does networking come about?The term "networking" was originally used to refer to bringing together individuals in order to create a commercial network in a 1985 news item by telecommunications consultant and expert Bill Lewis.
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T/F groups representing consumer, environmental, or other interests can be identified as project stakeholders.
T/F groups representing consumer, environmental, or other interests can be identified as project stakeholders is true.
Stakeholder definitions and examplesA stakeholder is a party with an interest in a business who may have an impact on or be affected by that firm. Investors, employees, clients, and suppliers make up the majority of the stakeholders in a typical firm.
The Function of a StakeholderA stakeholder's main responsibility is to provide their experience and viewpoint to a project in order to aid the organization in achieving its strategic goals. They can also offer the tools and resources needed. A project's success depends on their support.
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Section 1: Creating a Two-Month Budget
Imagine that you are a college student who lives away from home. You have a work-study job at your
college library, and you earn about $600 each month. You have one major long-term goal: you want to
save up money to visit your family soon, and you need at least $100 for your train tickets.
1. Create a budget that will allow you to save at least $100 by the end of October. (10 points)
Make sure your budget includes these fixed expenses:
The cost of rent ($250 each month for your shared apartment)
The cost of your bus pass ($40 each month)
The cost of books ($150, but only in September, at the beginning of the school year)
Make sure your budget considers these variable expense categories:
The cost of food
The cost of clothing
Discretionary spending (money to spend freely)
Personal Budaet
On January 2, 2019, All Good Company purchased 6,000 shares of the stock of Big Bad Company, and DID NOT obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $19.00 per share, and represents a 10% ownership stake. Big Bad Company made $45,000 of net income in 2020, and paid dividends to All Good Company of $97,500 on December 15, 2020. On December 31, 2020, Big Bad Company's stock was trading on the open market for $14.50 per share at the end of the year. Use this information to determine the unrealized gain or loss on the investment that should be reported at year end by All Good Company. If it is a loss, enter as a negative number. Round to nearest whole number (no cents).
Therefore, All Good Company should report the investment's $155,000 book value at the end of the year.
An asset or item purchased with the intention of earning money or increasing in value is an investment. An asset's appreciation over time is referred to as appreciation. When a person purchases a product as an investment, the goal is not to use the product now but to use it to build wealth in the future.
Calculation to determine the investment's book value, which All Good Company should report at the end of the year: $60,000 x 6,000 x $10.00 per share $135,000 less than the following:
Ending investment balance of $155,000 (60,000+$135,000-$40,000) Dividend ($40,000).
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based on the map, which of the following best explains the area of the andes mountains that would have the greatest number of rivers?
The region of the Andes with the largest number of rivers is located in the western part of the mountain range. This is because the western side of the Andes is much wetter than the eastern side. The western side of the Andes receives more precipitation in the form of rain and snow, which is then fed into the region's rivers.
Additionally, this part of the mountain range is located near the Pacific Ocean, which increases the amount of rainfall the region receives. The area is also home to some of the highest peaks in the Andes, which contribute to the high number of rivers in the area. In addition, the steep slopes of the western side of the Andes create a unique geography that allows water to be easily collected from the mountains and channeled into rivers. All these factors combine to make the western region of the Andes the region with the largest number of rivers.
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affirm has 5 per year carrying on each unit of inventory and annual usage of 40000 unit ordering cost
The affirm has 5 per year carrying on each unit of inventory and annual usage of 40000 unit ordering cost was the 200,000.
What is inventory?The term inventory refers to the company are ready to sell the merchandise, goods, and services and the earn profit. The company used the raw material are converted into the finished goods.
holding cost per unit per year = 5 year
average inventory level = 40000
Annual holding cost = ?
Annual holding cost = average inventory level x holding cost per unit per year.
Annual holding cost = 5 × 40000
Annual holding cost = 200,000.
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Hart Company made 3,040 shelves using 22,040 pounds of wood costing $271,092. The company's direct materials standards for one shelf are 8 pounds of wood at $12.20 per pound.
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
1. Compute the direct materials price and quantity variances along with the total direct materials variance.
2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further?
The $2,204 direct materials price variance has been calculated.
The direct materials quantity variance is calculated as $27,816.
What is the difference in the direct material amount?The term "direct material quantity variation" (sometimes referred to as "direct material use variance" or "efficiency variance") describes the discrepancy between the standard cost of material permitted for actual production as well as the standard cost of materials actually used during production.
Direct materials quantity variation is a part of the overall materials cost variance as a result of the difference between the actual amount of direct materials used and the standard quantity permitted for the output. Other terms for direct material amount fluctuation include direct material consumption and volume variance.
1. The direct materials price variance is calculated as follows:
= $2,204 ($12.20 - $12.30) x 22,040) Unfavorable
The direct materials amount variance is calculated as follows:
= $27,816 (24,320 - 22,040) x $12.20) Favorable
2. Hart will place more emphasis on the direct materials quantity variance than the direct materials price variance, which accounts for 10.3% ($27,816/$271,092 x 100) of the actual direct materials costs despite accounting for just 0.8% of those expenditures.
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Which one of the following statements best explains forecasting? Options: A. The less removed the forecast period is from the date the forecast is made, the greater the difficulty in making the forecast and the greater the risk that the actual results will differ from the forecast. B. Forecasting eliminates the uncertainty of future sales and expenses. C. Forecasting is typically done based on demand for the goods and products (i.e., guest demand to a hotel room). D. Forecasting generally relies on the managerial institution and expertise.
Demand for the goods and products is often taken into account while forecasting.
What is forecasting's level?The forecast level serves as a consumption level in addition to defining the bare minimum of detail for which the prediction is defined. The demand class, which also regulates the consumption of forecasts, can be included in the forecast level definition or not.
How can a bad forecast be handled?This article provides some advice on how to prevent a poor forecast so you don't feel like you're trying to strike a target while wearing blinders.
Make certain that Opportunities are Realistic and Achievable.
Managing Biases; Regularly Reviewing the Long-Term Forecast; Improving Bad Data and Data Input; and Managing Biases.
A Combination of Art and Science Can Improve the Sales Forecast.
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the u.s. demand for euros is multiple choice downsloping because, at lower dollar prices for euros, americans will want to buy more european goods and services. downsloping because, at higher dollar prices for euros, americans will want to buy more european goods and services. downsloping because the dollar price of euros and the euro price of dollars are directly related. upsloping because a higher dollar price of euros makes european goods and services more attractive to americans.
The U.S. demand for euros is downsloping because, at lower dollar prices for euros, Americans will want to buy more European goods and services.
Which services and goods are they?Consumers can possess or desire a tangible good. Despite the fact that a service is not a material object, buyers nevertheless want it. The ability to perform a service remotely is common. What people consume and spend money on is referred to as products and services collectively.
What are the four different categories of goods?In economics, there are four distinct categories of products that can be categorized based on excludability and rivalrousness: private goods, public goods, common resources, and club goods.
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FILL IN THE BLANK a firm's ____are costs that increase as quantity produced increases. these costs often show ___ illustrated by the increasingly steeper slope of the total cost curve.
A firm's variable costs are costs that increase as quantity produced increases. these costs often show diminishing marginal returns illustrated by the increasingly steeper slope of the total cost curve.
What totals all the production costs that rise in proportion to the volume produced?The marginal cost, or the price of producing more, is the adjustment to the overall cost in economics that results from increasing the quantity produced.
Are there any costs that rise with increased production?Costs that fluctuate according on the level of output are referred to as variable costs. As a result, variable costs will rise as production volumes rise.
What is the name for the rise in total variable costs brought on by the creation of an additional output unit?The marginal cost is the right response (A). The difference in price that results from adding an extra unit to the quantity produced is known as the marginal cost. Therefore, it is the expense incurred when an additional unit is generated.
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Which of the following statements is correct regarding an audit team's documentation requirements for attributes sampling?
a. The audit team should document information regarding the number of deviations and sample deviation rate, but not the allowance for sampling risk.
b. The audit team's documentation should include information regarding all steps of the sampling process and implications of the conclusions reached on internal control reliance and substantive procedures.
c. The audit team's documentation should include information about the control environment, including an assessment of management's integrity.
d. The audit team's conclusions do not need to be documented unless they decide to rely on internal control at planned levels.
(a) The assertion that an audit team's documents for attributes sampling are accurate is that the team should record information on the number of deviations or sampling deviation rate, but not on the allowance of sampling risk.
What audit means?A physical inventory check is followed by an auditor's review or inspection of various books of accounts to ensure that all departments are using the same documented system of documenting transactions. It's done to make sure the organization's financial accounts are accurate. An audit's objective is to reach a determination regarding the fairness and compliance with applicable accounting rules of the financial statements.
Why audit is important?The credibility an audit lends to a set of financial statements and the assurance it gives shareholders that the accounts are truthful and fair make it crucial. It can also aid in enhancing a company's internal processes and controls. The fundamental tenets of auditing include secrecy, objectivity, independence, skills and competence, work done by others, documentation, planning, audit evidence, accounting system, internal control, and audit reporting.
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Which of the following is not a typical effect of vendor managed inventory (VMI)?
O increased processing speed for manufacturers and distributors
O fewer data entry errors for manufacturers and distributors
O reduced planning and ordering costs for distributors
O increased stock-outs for distributors
Vendor-managed inventories reduced the processing times for manufacturers and distributors.
A is the proper response.
Why is it vital for sellers to manage inventory?A tried-and-true inventory system called vendor managed inventory was developed to make order fulfilment and inventory management simpler. It encourages improved communication between suppliers and distribution partners by synchronising business objectives and streamlining processes for all parties.
How does vendor-managed inventory work?Vendor Managed Inventory promotes a win-win relationship between the two sides to a transaction, allowing them to share risk and work together for mutual benefit. By controlling the buyer's inventory or supply chain management, the vendor can oversee and manage the entire supply chain.
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