Prepare journal entries to record the following production activities. Purchased $80,000 of raw materials on credit. Used $42,000 of direct materials in the Roasting department. Used $22,500 of indirect materials in production.
Purchases Debit $80,000
Accounts Payable Credit $80,000
Work in process Roasting Department Debit $42,000
Purchases Credit $42,000
Production Debit $22,500
Purchases Credit $22,500
What is Inventory?Inventory is the current asset of a company which it sells to customers and gain profits, the inventory is also known as Stock. The raw material is converted into finished goods by manufacturing companies.
The purchases are debited with payable's account being credited and then the purchases/ inventory is issued for the production of goods, and is therefore charged as the work in process.
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A property owner owned a tract of commercial property that he conveyed in joint tenancy to his twin sons as a birthday present. Unfortunately, a few years after the conveyance, the property owner and his sons had a serious falling out over how to run the family business. The property owner no longer wished the sons to control v
The person that owns the property is : The living twin.
What is joint tenancy ?Joint tenancy can be defined as the process in which two or more people jointly own a property.
Hence, the living twin owns the property based on the fact that in joint tenancy If one of the owner dies the property will be giving to the remaining owner which means that you cannot give the property to another person in your will.
The complete question is:
A property owner owned a tract of commercial property that he conveyed in joint tenancy to his twin sons as a birthday present. Unfortunately, a few years after the conveyance, the property owner and his sons had a serious falling out over how to run the family business. The property owner no longer wished the sons to control valuable commercial property, and so he demanded that they return the deed with which he conveyed the property to them. The sons returned the deed, and the property owner destroyed it. A few months later, one of the twins learned that he was seriously ill and not likely to live much longer. He executed a quitclaim deed conveying "any interest I have in the commercial property conveyed to me and my brother from my father" to his daughter. The twin who conveyed the property subsequently died.
Who owns the property?
A. The living twin.
B. The property owner.
C. The living twin and the deceased twin's daughter as tenants in common.
D. The living twin and the deceased twin's daughter as joint tenants.
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A fast-growing form of foreign direct investment is sovereign wealth funds (SWFs). Why do these investments by governments with surplus cash flows worry trade experts
The investments by governments with surplus cash flows worry trade experts as it leads to government gaining control of natural resources.
What is an investment?It should be noted that an investment simply means a way to creating further revenue by the investor.
In this case, the investments by governments with surplus cash flows worry trade experts as it leads to government gaining control of natural resources.
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Using the scrum method overcomes the issues of the traditional SDLC and guarantees that a project will produce a high-quality product.
The term scrum is borrowed from rugby, wherein it is a formation of gamers.
Scrum is a framework for undertaking management that emphasizes teamwork, duty, and iterative progress toward a properly-described goal. The framework starts with an easy premise: start with what can be visible or acknowledged. After that, tune the development and tweak, as necessary.
The term scrum turned into selected by the paper's authors because it emphasizes teamwork.
The scrum method is based on a hard and fast of very defined practices and roles that need to be worried for the duration of the software development method. it's miles a flexible methodology that rewards the software of the concepts in a context agreed upon by means of all of the crew members of the product. There may be ample proof that adherence to bendy practices and values improves the power of software program specialists, teams, and corporations, but the evidence is diverse and hard to find inside the traditional SDLC.
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Age-specific competency offers the health care provider information and skills which include?
Age-specific competency offers the health care provider information and skills which include (d) Administer larger doses of medication for the geriatric population of 65 and older due to developing a tolerance for the medication.
Healthcare or health care is the improvement of health by the prevention, diagnosis, treatment, improvement, or cure of people's illnesses, illnesses, injuries, and other physical and mental disorders. Healthcare professionals and related healthcare professionals provide health care.
General Practitioner Clinic is the primary physician who treats your health and is usually a general practitioner or internist. Secondary care refers to specialists. Tertiary care refers to highly specialized equipment and care.
The basic purpose of health care is to improve the quality of life by improving health. For-profit companies focus on making monetary profits to support valuation and maintain profitability. Healthcare must focus on generating social benefits in order to fulfill its promises to society.
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As measured, gdp omits which of the following? i. Illegal sales of goods and services. Ii. Changes in the amount of leisure time. Iii. Household production of goods and services.
All of the options will be omitted while measuring the GDP
What is GDP?Gross domestic product (GDP) is a monetary indicator of the total market worth of all the finished products that nations create over a certain time period. This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is.
The total amount of money spent during a specific time period by firms, consumers, and the government may be used to compute GDP. It may also be determined by adding up the total amount of money that each economic participant has received. The figure represents an estimate of "nominal GDP" under both scenarios.
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Which of the following is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi
(C) Failure to conduct a competitor analysis is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi.
Who is a retailer?Retail is the sale of goods and services to people, as opposed to wholesale, which is the sale to businesses or institutions. A retailer buys in bulk from manufacturers, either directly or through a wholesaler, and then sells in smaller amounts to consumers for a profit.Top Retailing Issues & Challenges Today Consumers Prefer Multichannel Purchasing Experiences.Customers Expect a Convenient Experience.Retailers Need a Standout Experience to Attract Customer Loyalty.Failure to conduct a competitor analysis.There are numerous technologies available to drive marketing and sales, but they do not appear to work in tandem.Therefore, (C) Failure to conduct a competitor analysis is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi.
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Complete question:
Which of the following is a likely reason for a retailer to close its stores when challenged by a new retailer such as Aldi?
a. Poor business practices
b. Failure to support its customers
c. Failure to conduct a competitor analysis
d. Poor product selection
Which term describes an environment in which data is instantly available via the internet to organizational partners?
The Real time term describes an environment in which data is instantly available via the internet to organizational partners. Because of the speed of today's processing systems, traditional data warehousing can now operate in real-time. As a result, real-time business intelligence is produced. Business transactions are fed into a real-time BI system, which keeps track of the enterprise's current state.
The Real time system not only supports the traditional strategic functions of data warehousing for gaining information and knowledge from past environment activity, but it also provides real-time tactical support to drive enterprise actions that respond to events as they happen.
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A salesperson should focus his or her sales resources on only one individual in the buying organization.​
A salesperson should focus his or her sales resources on only one individual in the buying organization.
The statement is false.
Top 5 skills for a career in sales:
Confidence - maintaining a positive mind-set.Resilience - communicating with conviction.Active listening - expertise in the customers' desires.Rapport building - promoting your personality.Entrepreneurial spirit - chronic self-development.The essential duty of a salesperson is selling. This responsibility consists of assembling the prospects, offering and demonstrating the goods, inducing the prospects to shop for, taking orders, and effecting income. a salesman needs to manual the customers in buying the products they want.
Your question is incomplete. Please read below to find the missing content.
A salesperson should focus his or her sales resources on only one individual in the buying organization.
True
False
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Variable costs as a percentage of sales for lemon inc. are 80%, current sales are $600,000, and fixed costs are $130,000. How much will operating income change if sales increase by $40,000?
When sales increase by $40,000, operating income will change by $-12,000.
By how much would operating income change?The net operating income is total revenue less direct and indirect expenses. Direct expense is variable cost and indirect expenses are fixed costs.
Operating income = total revenue - variable expenses - fixed costs
Initial operating income: 600,0000 - (0.8 x 600,000) - 130,000 = -10,000
New operating income: (600,000 + 40,000) - [0.8 x (600,000 + 40,000)] - 130,000 = 2,0000
Change in operating income: -10,000 - 2,000 = $-12,000
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Which of the following sets of actions are unlikely to help a company achieve a differentiation-based competitive advantage over some/many of its rivals
The sets of actions that are unlikely to help a company achieve a differentiation-based competitive advantage over some/many of its rivals is: Actions to achieve an S/Q rating of 7-stars or higher in all four geographic regions, actions to spend above-average amounts for advertising in all four geographic regions, and actions to offer a minimum of 350 models/styles in all four geographic regions.
What is Competitive advantage?Competitive advantage can be defined s the way a company or an organization manufacture or produce goods that are less costly and of good quality than their competitors or rivals.
Hence, The sets of actions that are unlikely to help a company achieve a differentiation-based competitive advantage over some/many of its rivals is: Actions to achieve an S/Q rating of 7-stars or higher in all four geographic regions, actions to spend above-average amounts for advertising in all four geographic regions, and actions to offer a minimum of 350 models/styles in all four geographic regions.
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A publisher reports that 55% of their readers own a particular make of car. a marketing executive wants to test the claim that the percentage is actually different from the reported percentage. a random sample of 200 found that 46% of the readers owned a particular make of car. is there sufficient evidence at the 0.02 level to support the executive's claim?
Based on the percentage of readers who own a particular make of the car and the random sample, we can infer that there is sufficient evidence at a 0.02 level to support the executive claim.
What is the evidence to support the executive's claim?The hypothesis is:
Null hypothesis : P = 0.55
Alternate hypothesis : P ≠ 0.55
We then need to find the test statistic:
= (Probability found by marketing executive - Probability from publisher) / √( (Probability from publisher x (1 - Probability from publisher))/ number of people sampled
= (0.46 - 0.55) / √(( 0.55 x ( 1 - 0.55)) / 200
= -2.56
Using this z value as the test statistic, perform a two-tailed test to show:
= P( Z < -2.56) + P(Z > 2.56)
= 0.0052 + 0.0052
= 0.0104
The p-value is 0.0104 which is less than the significance level of 0.02. This means that we reject the null hypothesis.
The Marketing executive was correct.
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A price ceiling is a legislated price that is:________
Answer:
set above the equilibruim price
At a given level of income, the average black american household has _______ as much wealth as does the average white american household.
The average Black American household when compared to the average income of a White American household has less than 15% of it.
How bad is the wealth disparity in America?On average, it is said that White American families earn about $142,500 while the average Black family earns $24,100.
This means that the Black family has less than 15% of the income that White American families pull in every year.
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When something is evaluated according to ______, this is called finding the value on an ad valorem basis. Unset starred question Its cost to build Its estimate Its value The majority
When something is evaluated according to valuation this is called finding the value on an ad valorem basis.
Ad valorem is a Latin phrase that translates to "in accordance with valuation." Ad valorem taxes are: -Regularly assessed on real estate (usually annually). -Used by the government as its main source of income to pay for daily expenses.A method of estimating an asset's value based on the selling prices of comparable assets is known as the market approach. In addition to the cost approach and discounted cash-flow analysis, it is one of the three widely used methods of valuation (DCF).What are the 3 approaches to value?
Three Approaches to Value
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The aggregate demand curve shows a _____ relationship between _____ and _____ at a given spending growth.
The aggregate demand curve shows a relationship between aggregate price level and demand at the given spending growth.
What is demand?Demand is explained as the requirement of a certain product in the market, usually this demand is varied if the prices are changed and the demand also is impacted by the supply.
If the prices are high it is highly likely that the demand of that product will reduce if the product is not a necessity.
If the prices are lower the demand for the product will increase.
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The ability to self-correct is important for any organization. When a firm produces a product no one wants to buy, it will self-correct or go out of business. When a government agency is performing poorly,
When a government agency is performing poorly,
No change will be implemented until a new administration is voted in.
Underperforming departments simply go out of business. She does not have the ability to raise additional funds on her own. The new administration can also take away the funds. The sector does not have the financial incentives to remain competitive in the market, so it is unlikely to be fixed
This question is incomplete. Please read below for the complete question.
The ability to self-correct is important for any organization. When a firm produces a product no one wants to buy, it will self-correct or go out of business. When a government agency is performing poorly,
Group of answer choices
Congress will act swiftly and put pressure on the agency to correct the problem quickly or risk losing funding.
More time is needed to self-correct due to the fact that the threat of going out of business is not high.
No change will be implemented until a new administration is voted in.
The agency is better able to correct the problem quickly, compared to businesses, since they have access to more resources and federal funding.
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A crowdfunding issuer wishes to offer its stock to the public in a way that prospective investors will have access to investment advice and recommendations before committing. How can this be done
Intermediary use of a broker-dealer.
Broker Dealer: Who are they?A broker-dealer (B-D) is a person or company who trades securities for their own account or on behalf of their clients. Since the majority of stock brokerages function as both agents and principals, the term "broker-dealer" is used to define them in terms of U.S. securities laws.
What Kinds of People Work as Broker-Dealers?The most well-known broker-dealers include TD Ameritrade, E-Trade, and Charles-Schwab. While E-Trade and TD Ameritrade are essentially online brokerage firms, others of these, like Charles-Schwab, are comprehensive financial services companies.
How does crowdfunding operate and what is it?Crowdfunding is the practice of using modest sums of money from a large number of people to finance a new business endeavor. Depending on the nature of crowd sourcing, investors receive perks like shares in the company that raised the money or donate money voluntarily.
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If the federal government received $1.2 trillion in tax dollars and only spent $1.1 trillion that year, what would occur
If the federal government received $1.2 trillion in tax dollars and only spent $1.1 trillion that year, a b. budget surplus would occur.
What is a budget surplus?A budget surplus describes a situation when the budgeted revenue exceeds the budgeted expenditure.
The budget surplus implies that the federal government is spending less than it received in revenue.
Some economists have argued that budget surpluses are not good for the economy, as they may cause deflation and stagnate economic growth.
The opposite of a budget surplus is a deficit. When a budget deficit occurs, government spending exceeds revenues, causing the government to borrow money in order to fund the year's expenditure.
Thus, if the revenue from taxation is $1.2 trillion while the expenditure is $1.1 trillion in a year, a b. budget surplus would occur.
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Question Completion with Answer Options:a. budget deficit
b. budget surplus
c. balance budget
Quizlet the ability of a central bank to set monetary policy instruments is _______, while the ability of a central bank to set goals of monetary policy is ______
The ability of a central bank to set monetary policy is instrument independence while the ability of a central bank to set goals of monetary policy is goal independence.
Monetary policy is the control of the quantity of cash available in an economy and the channels via which new money is supplied. With the aid of coping with the cash delivery, central bank goals to steer macroeconomic factors which include inflation, the charge of intake, monetary growth, and standard liquidity.
Financial coverage refers to the steps taken by way of a country's primary financial institution to manipulate the cash supply for monetary balance. As an example, policymakers manage the cash stream for increasing employment, GDP, and charge balance by the use of gear inclusive of hobby prices, reserves, bonds, etc.
The dreams of economic policy are to sell most employment, solid expenses, and moderate long-term interest prices. By means of imposing powerful monetary policy, the Fed can hold strong prices, thereby helping conditions for lengthy-term financial increases and most employment.
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If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.
If the quantity supplied by producers is relatively insensitive to price changes, supply is price inelastic.
Inelastic demand is demand for which the change in quantity demanded is small due to changes in price. Demand is elastic if the formula yields an absolute value greater than 1. In other words, quantity changes faster than price. If the value is less than 1, demand is inelastic.
For example, consumers are less price relatively insensitive if the product or service is unique or has few alternatives. Consumers are less price sensitive when total costs are low relative to total revenues. The total effort compared to the total cost of the final product also influences price sensitivity.
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Your question is incomplete. please read below to find the full content.
If the quantity supplied by producers is relatively insensitive to price changes, supply is ______. Multiple choice question.
price inelastic.
quantity demanded.
relative price increase.
change in price.
If Kelly were to consider enhancing productivity by giving greater authority to her subordinates and increasing formalization, she would be considering ________ changes.
Kelly would be considering structural changes.
Major technological changes today include the introduction, automation, and computerization of new devices, tools, or methods. Automation is a technological shift that replaces humans with machines that function automatically without human intervention.
Resistance to change – is caused by selfishness, misunderstanding, distrust, and general intolerance to change. People resist change for their own benefit and are afraid that change may sacrifice something or rob something that is important to them.
Productivity gains have enabled the US corporate sector to produce nine times as many goods and services since 1947 with relatively little increase in working hours. Increased productivity allows the economy to produce and consume more goods and services for the same amount of work.
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What are the results of contractionary monetary policy, which intends to slow down the economy, and what are not
The following are results of contractionary monetary policy:
raises interest rateincreases investment spending reduces money supplyThe following are not results of contractionary monetary policy:
increases real GDP in the short run increases consumer spending increases aggregate demand in the short runWhat is a contractionary monetary policy?Monetary policy are policies taken by the central bank of a country to shift aggregate demand and / or change the money supply in the economy.
There are two types of monetary policy :
Expansionary monetary policy : these are polices taken in order to increase money supply. When money supply increases, aggregate demand increases. Reducing interest rate and open market purchase are ways of carrying out expansionary monetary policy
Contractionary monetary policy : these are policies taken to reduce money supply. When money supply decreases, aggregate demand falls. Increasing interest rate and open market sales are ways of carrying out contractionary monetary policy
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1. Sell product for $25,000 with historical cost of $20,000 2. Sell product for $20,000 with historical cost of $16,000 3. Sell product for $40,000 with historical cost of $32,000 What is the final amount in Retained Earnings
The final amount in Retained Earnings after selling the three different products with different prices and historical costs is $17,000.
What is the difference between the selling price and historical cost?The difference between the selling price and its historical cost is profit.
Profit is the financial benefit realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes.
Data and Calculations:Product Selling Price Historical Cost Profit
A $25,000 $20,000 $5,000 ($25,000 - $20,000)
B $20,000 $16,000 $4,000 ($20,000 - $16,000)
C $40,000 $32,000 $8,000 ($40,000 - $32,000)
Total $85,000 $68,000 $17,000
Thus, the final amount in Retained Earnings after selling the three different products with different prices and historical costs is $17,000.
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The current price of a turkey sandwich is $6. If kyle is currently buying five turkey sandwiches a week, he:_______
The utility is not maximized since the marginal utility gained from the fifth sandwich is greater.
In economics, utility refers to the entire satisfaction or benefit gained from consuming an item or service. Consumer utility maximization is commonly assumed in the economic theories based on the rational choice.
In economics, the marginal utility is the additional satisfaction (utility) that a buyer receives by purchasing an additional unit of the product or the service. It computes utility once the first product is consumed (the marginal amount).
Therefore, the utility is not maximized , from the fifth sandwich onwards the marginal utility is more.
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The interest charged on a $90,000 note payable, at the rate of 6%, on a 60-day note would be:________.
1) $5,400.
2) $2,700.
3) $1,350.
The interest charged on a $90,000 note payable, at the rate of 6%, on a 60-day note would be $900.
Use 360 days for calculation.
$90000 × 0.06 × 60/360 = $900
(Face val. × 6% × 60/360)
Interest payable is a liability account, shown on a company's balance sheet, showing interest expenses accrued to date but not yet paid at the balance sheet date. In short, it represents the amount of interest currently payable to the lender.
A promissory note is a written promissory note. Under this arrangement, the borrower receives a specific amount of money from the lender and promises to repay it with interest within a predetermined period of time.
The interest rate can be fixed for the life of the note or vary according to the interest rate that lenders charge their best customers (known as the prime rate). This is different from a credit account, where there is no promissory note or interest to be paid (although there may be a penalty if payment is made after a specified due date).
Follow these steps to calculate interest payable for your organization:
1. Determine payables
2. Convert your interest to decimal
3. Determine time to calculate
4.Find your recurring interest rate
5. Calculate interest payable
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What three manageable factors must be developed and executed successfully in order to do npd successfully?
Planning, execution, and creativity are three manageable factors that must be developed and executed successfully in order to do npd successfully.
In other words, desirability, feasibility, practicality, and ethics must be met. As the image below shows, they are indeed the cornerstones of product success. Let's take a closer look at the four success factors. Desirability is probably the most important factor.
Demand within the target segment is underestimated.
Create associations and connections between existing and new ideas.
The Big C manageable factor is the kind of creativity reflected in world-changing achievements such as artistic masterpieces and scientific breakthroughs. The works of Picasso, Einstein's Breakthrough, and the story of Terry Pratchett can all be considered examples of this Big C.
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When managers become personally involved in developing public policy, the firm is at what level of business political involvement?.
When managers become personally involved in developing public policy, the firm is at aggressive organizational involvement.
What is aggressive organizational involvement?
Workplace aggression is a particular kind of aggressiveness that takes place there. Aggression in the workplace can take many different forms, from verbal acts (such as criticizing someone or spreading rumors) to physical assaults (e.g., punching or slapping).
Workplace aggression can affect a person's capacity to perform their job properly, result in physical deterioration and mental health issues, and alter how they behave at home and in public. When someone exhibits aggression at work, there may be a rise in lost days (absences), and some others may decide to leave their jobs.
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One important driver for organizational change is ________, meaning that leaders continually urge employees to strive for higher standards or better practices.
An important driver of organizational change is the influential power, which means that leaders continually encourage employees to seek higher standards or best practices.
What is the influential power?It is a characteristic related to organizational leadership, that is, the leader is responsible for driving organizational change through his own example and behaviors, which when positive, will reflect the behavior of employees, helping to motivate, productivity and create a favorable culture to development.
Therefore, it is essential that the leader drives organizational change through compliance with ethics, objective and direct communication and assistance to the needs of employees.
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Fetneh is a salesperson with abc brokerage. she writes purchase offers on two different properties for her investor buyer client. both offers call for an earnest money deposit of $2,000. her client writes one check for $2,000 to abc brokerage. fetneh makes two copies of the same check for the offers to be presented to the respective sellers. is this appropriate
If fetneh makes two copies of the same check for the offers to be presented to the respective sellers. No, it is not appropriate.
Who is a salesperson?A salesperson can be defined as someone whose responsibility is to market product to buyer so as to boost sales.
Hence, it is not appropriate based on the fact each offer have to be accompanied by each earnest money funds.
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