During 2017, Windsor Company changed from FIFO to weighted-average inventory pricing. Pretax income in 2016 and 2015 (Windsor’s first year of operations) under FIFO was $174,610 and $191,390, respectively. Pretax income using weighted-average pricing in the prior years would have been $151,100 in 2016 and $173,400 in 2015. In 2017, Windsor reported pretax income (using weighted-average pricing) of $206,200. Show comparative income statements for Windsor, beginning with "Income before income tax," as presented on the 2017 income statement. (The tax rate in all years is 29%.)

Answer:

Asset account would be $81,000

Explanation:

See attached picture.

Answer:

TRUE

Explanation:

An employer has a duty to indemnify, or compensate an employee for any losses suffered as a result of authorized legal acts that the employee performs under the employment agreement for example if an employee hand was accidentally cut off my a production machine this simply means that employee have an injury in the cost of performing is duties therefore the employer has to compensate the employee for the loss suffered as a result of the authorized legal acts that the employee performs under the employment agreement.

Answer:

(a) Traditional commodities may experience higher price fluctuations.

(b) Developing countries tend to have comparative advantage in traditional commodities.

(c) The terms of trade for traditional commodities may tend to reduce over time in accordance to the Prebisch-Singer.

Explanation:

(a) Traditional commodities tend to experience fluctuations in price which will invariably lead to fluctuations in export earnings. Many developing countries concentrate on the exportation of primary products which are usually affected by shifts in supply and demand and are more price inelastic. The uncertainty caused from commodity price fluctuations can hamper economic growth and may increase poverty.

(b) Comparative advantage is the advantage a country gets by producing a good or service at a lower opportunity cost than other countries. Even though the nation may not be the best at producing that particular thing, the good or service has a low opportunity cost. Many developing countries have a comparative advantage in the production of traditional commodities because of natural endowments and low labour costs.

(c) Terms of trade is the ratio of a country's average export price to the country's average import price. For developing countries, the terms of trade for traditional commodities tends to fall with time. The Prebisch–Singer thesis proposed that the price of primary or traditional commodities reduces relative to the price of manufactured products over the long term, thereby causing deterioration in the developing economies terms of trade.

Answer:

The correct answer is:

$73,009 (a.)

Explanation:

Future value is the accumulated compounded interest on a certain amount (present value) invested over a specified period of time.

To calculate the future value or present value, the nominal annual interest, the duration of investment and the present value or future value respectively must be known. The relationship is shown mathematically as:

[tex]FV=PV(1 + i)^{n}[/tex]

or [tex]PV = \frac{FV}{(1 + i)^n}[/tex]

where FV = Future value

PV = present value

i = nominal interest rate in percentage

n = number of compounding period

note: nominal interest rate is interest rate before inflation adjustments or interest rate before the effect of compounding

In this question, we are to determine the present value (PV), because the future value after 25 years is set as $500,000.

∴ [tex]PV = \frac{FV}{(1 + i)^n}[/tex]

[tex]\\ PV = \frac{500,000}{(1 + 0.08)^2^5} = \frac{500,000}{6.8485} = 73,008.7[/tex]

= $73,009 (to the nearest dollars)

The student's question involves identifying and classifying average variable cost (AVC), marginal cost (MC), and average total cost (ATC) in business economics. AVC is variable costs divided by output quantity, MC is the derivative of total cost with respect to quantity, and ATC is total costs divided by output quantity.

The student's question pertains to the classification of different cost measures commonly used in economics and business studies: average variable cost (AVC), marginal cost (MC), and average total cost (ATC). Each of these measures provides insight into the cost structure of a firm on a per-unit basis. Here's a simplified breakdown:

Average Variable Cost (AVC) is defined as the variable cost (VC), which includes costs that do vary with the level of output, divided by the quantity (Q) of output. Mathematically, AVC = TVC/Q.

Marginal Cost (MC) is the additional cost of producing one more unit of output. It is calculated as the derivative of Total Cost (TC) with respect to quantity (Q), which can be expressed as MC = d(TC)/dQ.

Average Total Cost (ATC) is the sum of all the costs (both fixed and variable) incurred by a firm, divided by the total quantity of output produced. It is calculated as ATC = TC/Q.

An understanding of these concepts is crucial for making informed business decisions, such as determining the optimal level of production or pricing strategies.

Answer:

Interest rate of annuity is 7.17%

Explanation:

A fix Payment for a specified period of time is called annuity. The discounting of these payment on a specified rate is known as present value of annuity.

Formula for Present value of annuity is as follow

PV of annuity = P x [ ( 1- ( 1+ r )^-n ) / r ]

$20,000 = $4,900 x [ ( 1- ( 1+ r )^-5 ) / r ]  

r = 7.17%

Interest rate is 7.17%

Answer:Go to a broker or bank to open up an IRA account which offers an individual valuable tax benefits for people who want to save for retirement.

Explanation: Since Edna company doesn't offer any tax retirement benefits to its employees, in which they would have offered her a 401(k)s which is usually offered by employers. An IRA will help her have access to various investments Adnan individual retirement saver.

Answer:

Expected Return =8.75%   Standard deviation =6.375%

Explanation:

Overall expected return

We calculated the return for all the possibilities normal, boom, recession

boom+normal+recession

(final stock price-initial stock price+dividend)/initial stock price*prop

=[(48-40+2.80)/40*1/3]+[(43-40+1.8)/40*1/3]+[(34-4+0.90)/40*1/3]

=0.09+0.04-0.0425

=0.875/8.75%

expected holding period standard deviation

(overall expected return-return of scenario)^2*prop

(8,75-9)^2*1/3+(8,75-4)^2*1/3+(8,75+4.25)^2*1/3

=0.006387/0.6387%

Answer:

Explanation:

1. Calculate how much money the $4,000 deposit today will be worth 8 months from now:

       [tex]Future\text{ }value=Deposit\times (1+i)^{(n)}[/tex]

Where:

      [tex]Future\text{ }value=\$4,000\times (1+0.065/12)^{8}=\$4,176.66[/tex]

2. Calculate how much additioanl money you will need:

3. Calculate the amount of additional money the organization must put in that investment account, at the end of each month for 8 months, to produce $7,823.34 over the $4,176.66.

Use the formula for the future value, FV, of a constant periodic deposit, D, during n periods at the interest rate i:

    [tex]FV=D\times \bigg[\dfrac{(1+i)^n-1}{i}\bigg][/tex]

      [tex]\$7,823.34=D\times \bigg[\dfrac{(1+(0.065/12))^8-1}{(0.065/12)}\bigg][/tex]

      [tex]\$7823.34=D\times 8.153320895\\\\\\D=\$959.53[/tex]

The organization must put in the investment account at the end of each month for 8 months is $942.84. The correct answer is option D. $942.84

To determine the additional monthly deposit amount, we need to break down the calculations step-by-step.

1. Future Value of Lump Sum Deposit:

Given:

- Present Value [tex](\( PV \))[/tex] = $4,000

- Annual Interest Rate r = 6.5% or 0.065

- Compounding periods per year n = 12

- Time in years t = 8/12 years

[tex]\[FV_{lump} = PV \times (1 + \frac{r}{n})^{nt}\][/tex]

Substitute the values:

[tex]\[FV_{lump} = 4000 \times (1 + \frac{0.065}{12})^{12 \times \frac{8}{12}}\][/tex]

[tex]\[FV_{lump} = 4000 \times (1 + \frac{0.065}{12})^8\][/tex]

[tex]\[FV_{lump} = 4000 \times (1.0054167)^8\][/tex]

[tex]\[FV_{lump} = 4000 \times 1.044927\][/tex]

[tex]\[FV_{lump} \approx 4179.71\][/tex]

2. Future Value Needed from Monthly Deposits:

[tex]\[FV_{total} = 12000\][/tex]

[tex]\[FV_{monthly} = FV_{total} - FV_{lump}\][/tex]

[tex]\[FV_{monthly} = 12000 - 4179.71\][/tex]

[tex]\[FV_{monthly} \approx 7820.29\][/tex]

3. Monthly Deposit Calculation:

Using the future value of an ordinary annuity formula:

[tex]\[FV = P \times \frac{(1 + \frac{r}{n})^{nt} - 1}{\frac{r}{n}}\][/tex]

Given:

- [tex]\( FV_{monthly} \)[/tex] = 7820.29

- r = 0.065

- n = 12

- t = 8/12 years

[tex]\[7820.29 = P \times \frac{(1 + \frac{0.065}{12})^{8} - 1}{\frac{0.065}{12}}\][/tex]

[tex]\[7820.29 = P \times \frac{(1.0054167)^8 - 1}{0.0054167}\][/tex]

[tex]\[7820.29 = P \times \frac{1.044927 - 1}{0.0054167}\][/tex]

[tex]\[7820.29 = P \times \frac{0.044927}{0.0054167}\][/tex]

[tex]\[7820.29 = P \times 8.2936\][/tex]

[tex]\[P = \frac{7820.29}{8.2936}\][/tex]

[tex]\[P \approx 942.84\][/tex]

Complete question : 8 months from now, your organization is planning to purchase new video conferencing equipment for a cost of $12,000. The equipment will have a useful life of 10 years and no salvage value. To pay for it, the organization plans to deposit $4,000 today in an investment account with an annual interest rate of 6.5%. In order to be able to purchase the equipment, the amount of additional money the organization must put in that investment account at the end of each month for 8 months is (select one):

A. $1,536.79

B. $149.18

C. $533.90

D. $942.84

E. $42.09

F. $505.08

Answer: This would WORSEN the union and BENEFITS Specific Automakers because the real wage increase would now be 2%

Explanation:

Specific Automakers is considering signing a long-term contract with the union representing its workers.

Real wages should increase by 3%

Expected inflation is 6%

Nominal wage increase is 9%

Actual inflation = 7%

Since actual inflation is greater than expected inflation, this would WORSEN the union and it is only of benefits to the automakers because this now makes real wage increase to be as calculated below leading to a redistributive cost of inflation.

= Nominal wage - Actual inflation rate

= 9% - 7%

= 2%

Answer:

A project manager is a professional in the field of project management. A project manager assumes the full responsibility of solving project technical issues and team conflicts, addressing and seeking help from management on ethical issues and knowing and following rules and procedures related to the project. All these would ensure successful completion of the project.

Answer:

a) Solving project technical issues and team conflicts

c) knowing and keeping rules and procedures related tot he project

d) addresing and seeking help form management on ethical issues.

Explanation:

First, we break down the multiple choices as follows

a) Solving project technical issues and team conflicts

b) his/her client company stock price

c) knowing and keeping rules and procedures related to the project

d) addresing and seeking help form management on ethical issues.

Solution

A project manager as the name implies is primarily responsible for the successful execution of a given project at any point in time. A project will usually involve teams, working together to achieve a common goal and as such any issues that affect the execution of the project, the synergy of the team and ethical issues relating to the project is the responsiblity of the project manager.

Based on this explanation, solving project technical issues and conflicts, knowing and keeping rules related to the project and addressing and seeking help from management on ethical issues are all related to a project and are managed by the project manager.

Answer:

With moral situation in relationship with sending out capital for creation abroad I would state that organization shouldn't be made to proceed with tasks in the event that they are never again beneficial. As I would see it, one of the primary reasons partnerships would trade capital for creation is expand benefits of their investors. This would be a Libertarian's perspective, which means point of view is that individual prosperity, thriving and social concordance are cultivated by "however much freedom as could be expected" and " as meager government as essential" and accept that when a business is never again gainful officials search for approaches to reduce expenses, and since lower wages can be paid in different nations this can get huge reserve funds for the organization.  

Enterprises ought to be permitted to stay serious and on the off chance that that implies trading capital, at that point so be it. In any case, I do feel that companies have an ethical duty to its workers and network that they are forsaking.  

Utilitarian hypothesis is to create the best great over awful for an extraordinary number of individuals. Sending out capital for creation abroad has helped colossally in the improvement of different nations. An utilitarian doesn't really imply that the correct activity is the one that profits the best, yet the rule is to augment the best advantage for all.  

A moral problem that is related with sending out restricted items is basically the way that the individuals can be harmed or even kick the bucket subsequently in utilizing this prohibited item. Hence, in light of this, I would state that imperatives ought to be set on the exportation of the items banned in U. S. To help my choice, I will utilize the Ethical Theory of German scholar, Immanuel Kant for my defense. Kant's moral hypothesis depends on the hypothesis that ethical issues canine standards be known due to reason alone and not founded on perception. Nonetheless, the contention that the advantages of sending out provisions with the chance of misuses that the great overweight the awful. Therefore, I feel that a few limitations ought to be put on the opportunity to send out wares that have potential for abuse and Utilitarianism, a consequential hypothesis, will bolster my announcement.  

As indicated by an article " Any time we're confronted with a choice that can influence the rights or prosperity of others, we're taking a gander at a moral issue. Regardless of how solid the avocation for lessening the working environment are appeared to be, laying off loyal and gainful representatives in an upsetting encounter for all concerned and those on the less than desirable end face monetary as well as mental injury. " (Bruce Weinstein, 2008)  

For any practical moral point of view, the appropriate response is constantly a yes. An organization that gives no occupations and no advantages has a total assets of literally nothing, best case scenario, and is destructive even under the least favorable conditions, as individuals have put their lives in the endeavor, and should look for work somewhere else, apparently from a comparable industry, which is likely additionally enduring as a rule.  

I don't intend to be hostile or contrarian or basic, yet I figure a superior inquiry would be: " Should a business be permitted to scale back in face of monetary trouble in the event that it could do to something else?" all things considered the appropriate response from a standard Utilitarian point of view turns out to be significantly more troublesome, and relies on various components. In philanthropic capacity feasible for an adequate period of time? Is the potential for venture and development going to give superior to scaling back? I m not certain utilitarianism can even answer this inquiry. I think act utilitarianism would be more qualified, and on account of the subsequent inquiry, my answer would no.  

Concerning breaking an association contract, I think that this is an extreme one for rule utilitarianism. From the degree of the agreement, it isn't adequate, as it abuses the guidelines probably set out for the best advantage of all. On the other hand, if breaking the agreement can spare occupations, rule utilitarianism has crushed itself.  

From the standard point of view, my answer would be "no" as there are no ifs, ands or buts arrangements for exchange that can be utilized to rethink the principles in the event of an emergency. An occupation that pays you less is better than no activity at all under either type of utilitarianism.

The ethics of a business exporting capital and commodities, downsizing, and breaking union contracts are best analyzed using utilitarianism, Kantian ethics, and Rawlsianism.

When considering the ethical implications of a business exporting capital for production abroad, two foundational ethical theories that can be applied are utilitarianism and Kantian ethics. Utilitarianism focuses on maximizing overall happiness or well-being, while Kantian ethics emphasizes the importance of treating individuals as ends in themselves and not as means to an end. From a utilitarian perspective, exporting capital may lead to increased economic growth and job opportunities in the host country, benefiting the overall welfare. However, from a Kantian perspective, if exporting capital results in exploitation of workers or violation of labor rights in the host country, it may be deemed unethical.

Similarly, when examining the ethics of exporting commodities banned in the United States due to health or safety concerns, utilitarianism and Kantian ethics can be utilized. From a utilitarian standpoint, exporting such commodities may maximize overall happiness if there is a demand for them in other countries. However, considering Kantian ethics, if exporting banned commodities poses a risk to the health and safety of individuals in the recipient country, it may be seen as ethically wrong.

Regarding downsizing and breaking union contracts in the face of economic difficulty, utilitarianism and Rawlsianism can be relevant ethical theories. Utilitarianism would consider the overall welfare and outcomes for the business and society, whereas Rawlsianism would prioritize fairness and justice. Downsizing and breaking union contracts may be justified from a utilitarian perspective if it helps the business survive and prevents greater economic harm. However, from a Rawlsian perspective, considerations of fairness and maintaining social and economic stability may suggest the need for alternative approaches that minimize the negative impact on employees and uphold contractual obligations.

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Answer:

Yes

Explanation:

Note that, the term “refusal to deal” with dealers is a situation in which one firm  refuses to sell to dealers ans is only willing to sell at a price that is considered “too high”. Also note that restriction of refusal is subject to the jurisdiction of the firm.

However, in a case a Non-monopolistic firms they are free to make these decisions without risk of violating  competition laws.  The most common welfare effects involves a negative impact on competition, that affects the end-users due rise in prices.

Answer:

Explanation:

You have to consider interest rates and tax situations. Payments made in lump sum would attract higher interest rates than payments made in part, this will have an effect on the net present value.

If cash proceeds from payments are meant for Investments, then a lump sum payment is preferable.

To evaluate your choices when receiving lottery winnings, consider the concept of present discounted value. Calculate the present value of future payments to determine their current worth. Compare the present value to the lump sum offered today to make your decision.

When evaluating your choices to make a decision about receiving your lottery winnings, it is important to consider the concept of present discounted value. Present discounted value helps determine the current value of future payments by taking into account the time value of money. In this case, you have the option to receive a lump sum today or a certain amount at the end of five years.

To evaluate your choices, you can calculate the present discounted value of the future payment using an appropriate discount rate. The discount rate reflects the opportunity cost of receiving the payment later instead of today. If the present discounted value of the future payment is higher than the lump sum offered today, it may be more advantageous to choose the future payment. On the other hand, if the present discounted value is lower, it would be better to opt for the lump sum.

For example, suppose the discount rate is 5% and the future payment after five years is $12 million. To calculate the present discounted value, you would divide the future payment by (1 + 0.05)^5. If the resulting value is higher than $10 million, it would make more sense to choose the future payment. If it is lower, the lump sum would be the better option.

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Answer:

The GDP deflator for this year is calculated by dividing the value of goods and services produced in the economy this year using this year's price by the value of goods and services produced in the economy this year using base year's price and multiplying by 100. However, the CPI reflects only the prices of all goods and services bought by consumers.

An increase in the price of equipment feller bencher, which is a commercial forestry machine that cuts and stacks trees, will affect GDP deflator.  

A decrease in the price of the Chinese-made television that is popular among U.S. consumers will affect the CPI, that is, consumer price index.  

Explanation:

We can cite as the two strategic issues of change that most organizations currently face, such as

1- Employee motivation.

2- Use of resources.

Currently, in the macroeconomic context, companies face important challenges in carrying out their activities. Some of these challenges are related to technological changes that are occurring more and more rapidly in the world, which means that the company's communication and integration with society is developed in a much closer and more responsible way.

The external factors that can influence the potential of companies in the short and long term, can be social problems, political challenges, social and environmental costs, legal issues, etc.

As society currently sees companies as agents responsible for promoting improvements for localities, companies now have greater responsibilities in carrying out programs and procedures that attest their corporate governance to stakeholders, seeking to comply with the best social and environmental practices, which can often be a strategic challenge, in the form of motivating employees and employing resources that are in compliance with what is required by ethical and legal issues.

The normal application of a p-chart is in process sampling by attributes.

Option b

Explanation:

p-chart can be defined as a form of control chart that is used to observe the proportion of nonconforming units (that is the ratio of number of nonconforming units to n, the sample size).

The p-chart depicts the changes or alterations in the process over the specific time. The control limits for this chart type are as follows,

Binomial distribution is the base for p-chart and it requires the assumptions given below:

Answer:

Four significant types of financial measures are :-  

1. Profitability or re-turn on investment :- rate of profitability is utilized by the top administrator to know the increase or profit for the speculation comparative with the measure of cash contributed. This is likewise utilized by the supervisor to know the gross productivity, net benefit, return on resources, rate of profitability, gaining per share, speculation turnover and deals per representative.  

2. Liquidity ratio :- liquidity proportion is utilized by the top chief to realize the organization's capacity to pay its present commitment. organization's liquidity proportion incorporates current proportion, speedy proportion, money to add up to resource, deal to receivable, Days' receivables proportion, Cost of deals to payable, and money turnover.  

3. Leverage ratio:- Leverage ratio is utilized by the chief to know the solvency of the organization. Influence incorporates Debt to value proportion, Debt proportion, Fixed to worth proportion, and Interest inclusion.  

4. Efficiency ratio - productivity proportion is utilized by the top supervisor to gauge the organization's capacity to utilize its assets and oversee liabilities successfully for the time being. It incorporates Annual stock turnover, Inventory holding period, Inventory to resources proportion Inventory/Total Assets, Accounts receivable turnover Net (credit) Sales/Average Accounts Receivable and Collection period 365/Accounts Receivable Turnover

Answer:

a-Dec-31. Dr Utility expense   485

                    Cr   Utility bills payable  485

b-Jan-11.  Dr Utility bills payable  485

                        Cr Cash                   485

c-Dec-31. Dr Salary expense  3990

                Cr  Salary payable                3990

d-Dec-31. Dr bank 51600

                 Cr  Loan payable   51600

e-Dec-31 Dr Interest expense  215

                    Cr interest payable     215

f-Dec-31 Dr Account receivable  340

                  Cr   Service revenue  account    340

g-Dec-31. Dr Cash  6840

                 Cr Advance Rent    6840

Explanation:

a-Utility expense incurred for the m/o Dec will be paid in Jan.

c- Salaries of 3990 will be paid on Jan of 4 days.

e-Interest expense for the m/o Dec will be (51600*5%=2580/12=215.

f-The service fee is receivable which will be paid on Jan.

g- Advance rent is received from client.

Kingbird has to adjust its accounts for unrecorded, uncollected, and unpaid items at the end of its accounting period, as the company follows the accrual basis of accounting. These adjustments include notations for utilities, wages, loan interest, neighboring shop fees, and rent revenue.

To account for the different transactions Kingbird, Inc. had, we need to make proper adjustments in the financial statements. Every transaction is recorded differently based on its nature.

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Answer:

Option (a) is correct.

Explanation:

Alland can produce 32 units of food per person per year or 16 units of clothing per person per year:

Opportunity cost of producing a unit of food = (16 ÷ 32)

                                                                          = 0.5 units of clothing

Opportunity cost of producing a unit of clothing = (32 ÷ 16)

                                                                                = 2 units of food

Georgeland can produce 36 units of food per year or 18 units of clothing:

Opportunity cost of producing a unit of food = (18 ÷ 36)

                                                                          = 0.5 units of clothing

Opportunity cost of producing a unit of clothing = (36 ÷ 18)

                                                                                = 2 units of food

Therefore, the Georgeland has a absolute advantage in producing both the goods because it can produce more quantity of both the goods with the same resources as Alland. But the Georgeland has not having comparative advantage in producing either of the goods.

Parsons Corporation must produce 18,500 units during the month.

To find the number of units that must be produced during the month, we need to calculate the net production needed.

Net production = Units to be sold + Desired ending inventory - Beginning inventory

Net production = 18,000 + 6,000 - 5,500 = 18,500 units

Therefore, Parsons Corporation must produce 18,500 units during the month.

Answer:

a) Look in the files

Explanation:

You have to look in the files, ascertain the current situation of the organization, gather information on the organization's previous and current performances and deduce how best to answer likely questions that would pop up in the upcoming interview on the morning News show. This informal research technique would enable your boss to be adequately prepared for the interview.

Answer:

Despite the accomplishments of Zappos, there are few challenges facing the company. One of the challenges is the economic and financial recession facing the world. This will lead to downsizing the company's employees and it will affect the competitive position of the company. The second challenge facing the company is that of acquisition. It is essential for the company to psychologically prepare the employees during the recession by organizing meetings and seminars to discuss the challenges and proffer solutions.

Explanation:

Despite the accomplishments of Zappos, there are few challenges facing the company. One of the challenges is the economic and financial recession facing the world. This will lead to downsizing the company's employees and it will affect the competitive position of the company. The second challenge facing the company is that of acquisition. It is essential for the company to psychologically prepare the employees during the recession by organizing meetings and seminars to discuss the challenges and proffer solutions.

Answer:Greater

Explanation: Absorption costing is a cost accounting procedure which is used in the costing of both the direct and indirect expenses involved in the production of a specific product or service over a given period of time.

Fixed overhead costs are specifically concerned with goods sold while variable costs are specifically concerned with all the goods manufactured.

THE COST THAT WILL BE ASSOCIATED WITH FIXED OVERHEAD COST WILL BE LESS WHEN COMPARED TO THAT CALCULATED USING VARIABLE COSTING AND THIS WILL CAUSE THE NET INCOME CALCULATED USING THE FIXED OVERHEAD COST TO BE GREATER THAN THE VARIABLE COSTING APPROACH.

Under absorption costing, net income will be greater than under variable costing when production exceeds units sold because some fixed costs are allocated to inventory rather than being immediately expensed.

Under absorption costing, fixed overhead is allocated to products sold. Consequently, when production exceeds units sold, the net income will be greater than income calculated under variable costing. This occurs because with absorption costing, some of the fixed costs are allocated to the inventory and are not immediately expensed in the period they are incurred but instead are recognized as the inventory is sold. This can defer some expenses and thus increase the reported net income in periods where production is greater than sales. With variable costing, however, all fixed overhead costs are expensed in the period they are incurred, which means that net income will closely align with the number of units sold and not necessarily the number of units produced.

Variable costing provides insights into the firm's ability to cut costs in the present and showcases how costs will change with production levels. Unlike fixed costs which are sunk and constant, variable costs increase proportionally with production output, influencing decisions about optimal production and cost management strategies in the immediate term.

Answer:

4. helps a small business develop the game plan that guides it in creating its mission, vision, goals, and objectives.

Explanation:

Strategic management is the process by which a business continuously plans, monitors, analyses, and asseses organisational activities with the aim of meeting it's goals and objectives.

The business environment is constantly changing and this calls for continous changing of business strategy to ensure survival.

Strategic management process involves five stages:

- Clarify business vision

- Gather and analyse information

- Formulate a strategy

- Implement strategy

- Evaluate results and control outcomes

Answer:

B

Explanation:

b.the amount you get paid each week to work at the library

This is because human capital involves using humans to perform series and output and managing them only option b fall in that line

Answer:

The question is incomplete. Missing Portion is written as bold in explanation.

Explanation:

Required:

1. Prepare journal entries to record the transactions given above.

2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $37,000.

Account                                                   Dr                      Cr

1.Raw materials                                     209000

Account payable-Liability                                             209000

The Materials are purchased in credit.

2. Work In Process                               152000

Manufacturing Overhead                     38000

Raw materials                                                               190000

Entry for Materials used in Production.

3.  Work In Process                               48000

Manufacturing Overhead                      22000            

Salaries payable                                                           70000

4.Manufacturing Overhead                   104000            

Depreciation                                                                 104000

5. Manufacturing Overhead                  131000                      

Account payable                                                                 131000

6.Work In Process                                686700     ( 9 x 76300= 686700)

Manufacturing Overhead                                                  686700

7.Finished Goods                                      512000

Work In Process                                                                   512000                      

8.Cost of goods sold                                   449000

Finished Goods                                                                    449000

Accounts Receivable                                  547780

Sales Revenue                                                                     547780

**Sales  - Cost of job * 1.22 (22 % above cost)  

2. T-accounts for Manufacturing Overhead and Work in Process.

                Manufacturing overhead

                  Dr                                   Cr

             22000                             686700  

              38000

              104000

             131000                                                      

Ending balance                             391700 - Favorable          

                           Work In process

                                   Dr                                Cr

beginning bal.        37000                            

                                152000                        

                                48000                            512000

                               686700                                                      

Ending balance       411700        

The Polaris Company uses a job-order costing system, accounting for various cost factors in production and utilizing a predetermined manufacturing overhead rate. This system is essential for tracking product costs and determining the financial performance of the company.

The Polaris Company's job-order costing system handles various transactions that impact the cost of manufactured products. In October, these transactions include raw materials purchase, consumption in production (split into direct and indirect materials), and accrued labor costs, both direct and indirect.

Manufacturing overhead costs, including depreciation of factory equipment and other overheads, are also accounted for. Importantly, manufacturing overhead is applied at a predetermined rate based on machine hours utilized.

This information aids in calculating the cost of goods manufactured and cost of goods sold, vital for determining the company's financial performance for that month.

When the jobs are transferred to Finished Goods and eventually sold to customers at a markup, understanding this costing system helps ascertain profitability and cost efficiency within the company.

Answer:

inventory turnover= 3

Explanation:

Giving the following information:

A firm’s inventories on hand are $200,000

The cost of goods sold is $600,000.

To calculate the inventory turnover, we need to use the following formula:

inventory turnover= cost of goods sold/ average inventory

inventory turnover= 600,000/200,000= 3

Answer: monitoring operation

Explanation:

Monitoring operations requires management oversight, employee feedback and customer reviews. It can help provide specific directions for employees, which can lead to improved time management and increased productivity.

Answer:

The options chosen are:

B. the tragedy of the commons;

C. incentive to conserve the property;

E. incentive to protect the property.

Explanation:

B. The tragedy of the commons- Open-access regimes can be exploited on a first-come, first-served basis, because no individual or group has the legal power to restrict access. The consequences of open access have become popularly known as what Hardin (1968) misleadingly called ‘the Tragedy of the Commons.’

C. incentive to conserve the property: In addition, clearly defining and assigning property rights should resolve environmental problems by internalising externalities and relying on incentives for private owners to conserve resources for the future.

E. The Incentive to protect the property - The incentives associated with private property rights can help conserve scarce resources: Private ownership entails penalties for premature harvesting or over-harvesting of resources. Private ownership rewards community and individual cooperation. Private ownership rewards conservation and stewardship behaviour.