Answer: True- Technological substitution
Explanation:
The technological substitution is the term which refers to the preference of the consumers to the one product from the another and it is basically due to the advancement in the technology.
The technological substitution plays an important role at the time of purchasing the products in the market. The technological characteristics and also the features attract the consumers for buying their products and the services.
According to the given question, the Technological substitution is one of the concept that best illustrating the given scenario based on the manufacturing innovation streams.
Therefore, Technological substitution is the correct answer.
What is the change in cash for a firm with the following: $10,000 cash flow from operations, $1,600 cash used for new investment, a reduction in the level of debt of $2,000, $1,000 in cash dividends, and $200 in depreciation expense
Answer:
The change in cash balance is $5,400.
Explanation:
Statement of Cash Flows summarizes use of cash in three main activities namely operating activities, investing activities, and financing activities.
The change in the cash balance can be calculated based on the net of cash inflows and outflows.
Depreciation expense is a non-cash item, therefore, it should not be included in the calculation.
Activity Cash Inflow/ (Outflow)
Cash from Operations $10,000
New investment ($1,600)
Repayment of debt ($2,000)
Cash dividends ($1,000)
Net Cash Flow $5,400
Barter is a. illegal in the United States. b. an efficient system of exchange. most useful when there is much specialization and international trade. d. only possible if money is used as a e. the direct exchange of goods without the use of money. c. medium of exchange
Answer:
the direct exchange of goods without the use of money
Explanation:
Trade by barter is the exchange of goods for goods. Money isn't used in a barter system.
Trade by barter has some inefficiencies such as double coincidence of wants, lack of standard unit of account etc
I hope my answer helps you
With an emphasis on the rapidly changing business landscape, which organizational culture can be beneficial in requiring adaptability?
Answer:
Learning culture
Explanation:
A learning culture in an organization is one that involves the employees being subjected to different types of training on a regular basis, by the organization to update their knowledge and keep up with changes in the business environment.
An organizational culture that can be beneficial in requiring adaptability are agile, learning, and customer-centric cultures.
Explanation:Adaptability is a crucial skill in the rapidly changing business landscape, and an organizational culture that promotes and requires adaptability can be highly beneficial. One such culture is an agile culture. In an agile culture, employees are encouraged to be flexible, responsive to change, and willing to quickly adapt their strategies and approaches.
Another organizational culture that can promote adaptability is a learning culture. In a learning culture, there is a strong emphasis on continuous learning and improvement. Employees are encouraged to acquire new skills, stay updated with industry trends, and adapt their workflows based on new information and insights.
Lastly, a customer-centric culture can also foster adaptability. In a customer-centric culture, the focus is on meeting the evolving needs and expectations of customers. This requires organizations to be flexible, innovative, and responsive to market changes to ensure customer satisfaction and maintain a competitive edge.
Learn more about Organizational culture here:https://brainly.com/question/33753839
#SPJ3
The marketing activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.A.TrueB.False
Answer:
Marketing logistics (True)
Explanation:
The process which involves all the stages of a product or material is known as marketing logistics. Marketing logistics process involves ordering the raw material for the product, processing the product, operational stages and then delivering the products to the end-user. These steps are involved in marketing logistics. So, marketing logistics is a critical part of any organisation or a firm.
When preparing a representative sample from a list of 200 customers who complained about errors in their statements, a _____ could ensure the sample is balanced geographically by selecting five customers from each of four zip codes.
A• Random sample
B• Comprehensive Sample
C• Stratified sample
D• Systematic sample
Answer:
C. Stratified sample
Explanation:
Stratified sample -
It is the method of sampling , where the distribution of the samples are done on the basis of certain partition in the complete population , is referred to as stratified sampling .
The distribution can be done on the basis of the geographical area or conditions , as the division makes the sampling method fast and efficient .
Hence , from the given scenario of the question ,
The correct option is C. Stratified sample .
The correct sampling method for a sample that is balanced geographically is a stratified sample. Cluster sampling and systematic sampling are other types of sampling methods used in different scenarios.
Explanation:When preparing a representative sample from a list of 200 customers who complained about errors in their statements, a stratified sample could ensure the sample is balanced geographically by selecting five customers from each of four zip codes. This method divides the population into smaller groups, or strata, based on shared characteristics - in this case, geographic location. Each stratum is then sampled proportionally, ensuring that all groups are represented in the final sample.
In the department store employee satisfaction survey example, selecting four departments at random and interviewing all employees in those departments is an example of cluster sampling. Here, entire groups, or clusters, are randomly selected, and all members within those selected clusters are included in the sample.
Similarly, if a health club wanted to understand member usage and decided to ask every tenth customer on a specified day to complete a survey, this would be an example of systematic sampling. In this method, members of the population are selected at regular intervals to form the sample.
Paragraph Styles Rolling Coast Inc. issued BBB bonds two years ago. These bonds provided a yield to maturity (YTM) of 11.5 percent. Long-term risk-free government bonds were yielding 8.7 percent at the time. The current risk premium on BBB bonds versus government bonds is half of what it was two years ago. If the risk- free long-term government bonds are currently yielding 7.8 percent, then at what interest rate should Rolling Coast expect to issue new bonds? Group of answer choices 7.8% 8.79 9.2% 10.2% 12.9%
Answer:
Explanation:
The risk premium two years back = 11.5 - 8.7 = 2.8 %
current risk premium = 2.8/2 = 1.4%
Current risk free bond yields 7.8 %
So Rolling Coast expected rate of interest on bonds = 7.8 + 1.4
= 9.2 %
Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed 4 pounds of pork and 2 pounds of tomatoes. then, each person agreed to specialize in the production of the good in which he has a comparative advantage and trade 4 pounds of pork for 6 pounds of tomatoes. as a result,
Answer:
the farmer gained 6 hours worth of production and the rancher gained 8 hours worth of production.
Explanation:
Labor Hours to Make 1 lb. of lbs. Produced in 24 Hours
Pork Tomatoes Pork Tomatoes
Farmer 6 3 4 8
Rancher 4 4 6 6
If both decide to specialize in producing only one good, the farmer will produce 8 pounds of tomatoes per day and the rancher will produce 6 pounds of pork per day.
This way when the rancher trades 4 pounds of pork in exchange for 6 pounds of tomatoes, he is gaining 2 pounds of pork which is equivalent to 8 labor hours.
When the rancher trades 6 pounds of tomatoes in exchange for 4 pounds of pork, he is gaining 2 pounds of tomatoes which is equivalent to 6 labor hours.
Final answer:
The student's question is focused on how specialization and trade, based on comparative advantages, improve production and consumption for individuals or countries. By producing what they are relatively better at and trading for other goods, all involved parties can benefit and consume more than they would without trade.
Explanation:
The student's question is about the impact of specialization and trade on the production and consumption patterns of two hypothetical individuals, a farmer and a rancher. Prior to trade, each produced and consumed a combination of pork and tomatoes. After agreeing to trade, each individual specialized in producing the good for which they had a comparative advantage. As a result of this specialization and the subsequent trade, both individuals were able to consume more than they could without trading. The example illustrates how trade can lead to an increase in consumption for both parties when they specialize according to their comparative advantages.
The surplus in world production mentioned suggests an increase in total output as a result of specialization and trade. For instance, when two countries specialize based on their comparative advantages and then trade, such as in the cases of France and the United States with cheese and wine, Mexico and the United States with shoes and refrigerators, or the hypothetical farmers with apples and oranges, they are all able to consume more than they could in autarky, which is the economic situation where each entity produces everything it consumes without engaging in trade.
This process not only applies to individual traders but also extends to international trade between countries, where the production possibilities frontier can shift outward, indicating the potential for greater production and consumption levels.
Job 593 was recently completed. The following data have been recorded on its job cost sheet:
Direct materials $3,190
Direct labor-hours 71 labor-hours
Direct labor wage rate $15 per labor-hour
Machine-hours 175 machine-hours
The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $14 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 593 would be:
a.$6,705
b.$3,219
c.$5,249
d.$4,255
Answer:
a.$6,705
Explanation:
The total cost is the sum of the three cost component, Direct materials, direct labours, and factory overhead.
Direct Labor Cost: 71 hours x $15 per hour = $ 1,065
Manufacturing Overhead: 175 machine hours x $14 per hour = $ 2,450
Direct Materials $ 3,190
Total cost: 1,065 + 2,450 + 3,190 = 6,705
Martin works as a pizza delivery person. He parks his bike outside Regalia Inc. To deliver an order. Meanwhile, a damaged book rack in Regalia, which is situated on the first floor of the building, falls down through an open window and crashes on his bike. However, no one admits to having seen the rack fall. Can Martin recover against Regalia for negligence?
Regalia Inc. may be held responsible for negligence if the book rack falling was a result of their failure to maintain safe conditions. However, without witnesses or strong evidence, it may be challenging for Martin to recover against Regalia.
Explanation:Under the legal principle of negligence, a person can be held responsible for an accident or injury if they failed to exercise reasonable care. In this case, Regalia Inc. may be considered negligent if it can be proven that they failed to maintain safe conditions and that the book rack falling was a result of their negligence.
However, without any witnesses, it may be challenging for Martin to recover against Regalia for negligence. He would need to provide strong evidence, such as security camera footage or expert testimony, to establish that the falling book rack was a result of Regalia's negligence. In the absence of such evidence, it would be difficult to hold Regalia liable.
Martin needs to consult with a lawyer who specializes in personal injury cases to assess the specific facts of the case and determine the best course of action.
Wie Corp's sales last year were $315,000, and its year-end total assets were $355,000. The average firm in the industry has a total assets turnover ratio (TATO) of 2.4. The firm's new CFO believes the firm has excess assets that can be sold so as to bring the TATO down to the industry average without affecting sales. By how much must the assets be reduced to bring the TATO to the industry average, holding sales constant?
Answer:
Assets must decrease by 223,750
Explanation:
the total assets turnover is calcualte as follows:
[tex]\frac{sales}{assets}[/tex]
As the new CFO jsut want to reduce assets and not to put the effort to increase sales as it see it less likely It will reduce assets (lower the credit term, lower inventory stocks among other measurements)
our goal is a value of 2.4 with sales of 315,000
[tex]\frac{315,000}{Assets} = 2.4\\Assets = 315,000 \div 2.4\\[/tex]
Assets = 131.250
currently the assets are 355,000
we need to redue it to 131,250 so we need a decrease in the order of:
355,000 - 131,250 = 223,750
To bring the TATO to the industry average without affecting sales, the assets of Wie Corp need to be reduced by $223,750.
Explanation:To bring the total assets turnover ratio (TATO) to the industry average without affecting sales, we need to determine the excess assets that need to be reduced. The formula for TATO is Sales / Average Total Assets. Given that the industry average TATO is 2.4 and Wie Corp's sales last year were $315,000, we can calculate the target average total assets using the formula:
Average Total Assets = Sales / TATO = $315,000 / 2.4 = $131,250
To find the excess assets, we subtract the target average total assets from the actual total assets:
Excess Assets = Actual Total Assets - Target Average Total Assets = $355,000 - $131,250 = $223,750
Therefore, the assets need to be reduced by $223,750 to bring the TATO to the industry average, holding sales constant.
Learn more about Total assets turnover ratio here:https://brainly.com/question/35492976
#SPJ3
Which of the following statements can be used to explain the growth of international business? a. Many countries in Europe and Asia were devastated after World War II and had to be rebuilt. b. The postwar population boom decreased demand for products. c. Changes in cultural traditions made the rest of the world open to all of the products made in the United States. d. Infrastructures in Europe and Asia remained sound in spite of World War II. e. All of these choices
Answer:
a. Many countries in Europe and Asia were devastated after World War II and had to be rebuilt.
Explanation:
a) after WWII the US emerge as world leader taking the place of the UK and trade betwene Europe and Asia making post in the US improved global trade.
b) The postwar boom increased demand for product.
c) The cultural traditions did changge but not in that direction the world divided into Communinst and Capitalism
d) No, they weren't at all. Even Britain who didn't suffer land invasion has the south coast in ruins as a resutl of the aereal battle of brittian.
A manager finds out that the productivity of her workers has declined. Therefore, she creates a new social setting for the workers, where they share pleasant social relations with one another and receive special attention from the supervisor. The manager has implemented lessons from _____ to improve the productivity of her workers.
Answer:
The Hawthorne Effect
Explanation:
The delight that comes from special attention motivates workers to increase their productivity. The Hawthorne effect is therefore the phenomenon that employees will perform better when they feel singled out for special attention or feel that management is concerned about employee welfare.
Example of Hawthorne Effect in Businesses
Example of Hawthorne effect is seen in business everyday. if a promotion opportunity is made available, those in the organization who wants the promotion would change their behavior by working harder, stay a little later and try to be outstanding.
once the promotion is given to the qualified person, those that didn't get it would likely return to their behavior. They know that they are being watched while the promotion decision is being made so they step up their performance.
Jackson Company had a net increase in cash from operating activities of $10,000 and a net decrease in cash from financing activities of $2,000. If the beginning and ending cash balances for the company were $4,000 and $11,000, then net cash change from investing activities was_____________.A. an outflow or decrease of $1,000. B. an inflow or increase of $2,000.C. an inflow or increase of $1,000.D. zero.
Answer:
A. an outflow or decrease of $1,000.
Explanation:
Ending balance of cash = Opening balance of cash + Net cash flow of the period
Ending balance of cash = Opening balance of cash + ( Cash flow from operating activities + cash flow from investing activities + cash flow from financing activities )
$11,000 = $4,000 + $10,000 + cash flow from investing activities - $2,000
$11,000 = $12,000 + cash flow from investing activities
Cash flow from investing activities = $11,000 - $12,000
Cash flow from investing activities = -$1,000
Which term refers to the online means of communication, conveyance, and collaboration among the interdependent and interconnected networks of people, communities, and organizations?
Answer:
social media
Explanation:
social media - it is referred to as a platform of communication where people from different regions get interacted with each other through a communication device or medium like the internet, etc.
Social media is considered to be a faster-growing platform around the globe that helps people to come together and share their culture, tradition, etc.
In many cases, companies that enter a market after innovative products have been introduced can achieve long-term competitive advantages by continuing to develop a better mousetrap. For example, VisiCalc was the first company to introduce a desktop spreadsheet program, but Lotus Notes cornered a large market share when it introduced the 1-2-3 program. Today, however, Microsoft’s Excel is the dominant spreadsheet software program and has continued to endure due to the popularity of the Microsoft Office Suite of products. VisiCalc possessed a ___________ advantage while Microsoft enjoyed a ___________ advantage.
Answer:
First-mover
Second-mover
Explanation:
A first mover is a provider of product, that achieves a market advantage by being the first type of product to be marketed. Generally, being gets the first firm in the market to get the advantage of the strong market and customer satisfaction.
The "second mover's advantage" is the value of joining others into a business or imitating an old product that a new innovative company gets.
In this case VisiCalc is a First-mover and Microsoft is a Second-mover.
Bend Company’s December 31, 2020 balance sheet reports assets of $13,210,000 and liabilities of $4,275,000. The book values of Bend’s assets approximate their fair values, except for land, which has a fair value $600,000 greater than its book value. On December 31, 2020, Blue Corporation paid $11,775,000 to acquire Bend. What amount of goodwill should Blue record as a result of this purchase?
Answer:
Blue should record $2,240,000 of goodwill as a result of this purchase.
Explanation:
Fair value of Assets = $13,210,000 + $600,000 = $13810,000
Liabilities = $4,275,000
Net Asset = Total fair value of asset – Total Liabilities
Net Assets = $13,810,000 – $4,275,000 = $9,535,000
Goodwill = Acquisition price – Net Assets
Goodwill = $11,775,000 - $9,535,000 = $2,240,000
Blue should record $2,240,000 of goodwill as a result of this purchase.
The manager at East End Burgers regularly speaks with customers to find out what improvements they might suggest to the product and service. The manager is determining if his ________ of what his customers like is accurate.
Answer:
knowledge
Explanation:
When it comes to marketing products, the manager plays a vital role. In order to reach out to customers, he can talk to them regularly whether they like the product and service. He can also ask if they have any suggestions for improvements.
The product and service are seen by the target audience's eyes thus, it is essential that the manager asks them for feedback. This will allow him to determine whether his knowledge on what his customers like is accurate or true. It will also aid him in creating efficient marketing strategies.
Joseph buys a Hummer for $59,000, financing it with a five-year 7.60% APR loan paid monthly. He decides to pay an extra $50 per month in addition to his monthly payments. Approximately how long will he take to pay off the loan under these conditions?
Answer:
57.07 months.
Joseph must decide whether the 57th payment was $1,327, or he can pay a 58th payment of just $92.
Explanation:
The easiest way to calculate a monthly payment is using a payment calculator:
principal = 59,000n = 60APR = 7.6%Monthly payments = $1,185.04
Since Joseph will pay an extra $50 each month, his payment = $1,235.04
By paying that extra amount Joseph will reduce his payments by almost 3 months to 57.07 months
After the 57th payment, Joseph' balance = $91.43, so he can decide to pay a little on the 57th payment or just pay $92 next month.
Sales: $460,000
Accounts Receivable Balance: $40,000
Cost of Goods Sold: $300,000
Inventory Balance: $87,000
Accounts Payable Balance: $25,000
Calculate the following matrics:
A/R days
Inventory days
A/P days
Cash-to-Cash days
When making your calculations, please follow conventional rules for rounding up or down to arrive at your answer.
A/R days ____
Inventory days ____
A/P days ____
Cash-to-Cash days ____
Answer:
A/ R Days ; 32 days
Inventory Days : 106 days
A/P Days: 49 days
Cash to cash Days: 89 days
Explanation:
Computation of A/R days
Accounts Receivables days are calculated by first determining the daily credit sales by dividing the annual credit sales amount with 365.
The receivable balance is then divided by the average daily credit sales to get the receivable days
Annual Sales $ 460,000/ 365 days = Average Daily Sales = $ 1260.27
Receivable Days = Receivable Balance $ 40,000/ $ 1260.27 = 32 days (rounded)
Computation of Inventory days
Inventory days are calculated by first determining the daily cost of goods sold by dividing the annual cost of goods sols with 365.
The inventory balance is then divided by the average daily cost of goods sold to get the inventory days
Cost of goods sold $ 300,000 / 365 days = $ 821.92
Inventory Days = Inventory balance / Average daily cost of goods sold
$ 87,000/ $ 821.92 = 106 days
Computation of A/P days
Accounts Payables days are calculated by first determining the daily credit purchases by dividing the annual purchases amount with 365.
The payable balance is then divided by the average daily purchases to get the payable days.
Since the purchase data is not provided we assume that the cost of goods sold is the credit purchases
Cost of goods sold $ 300,000 / 365 days = $ 821.92
Payable Days = Payables balance / Average daily cost of goods sold
$ 40,000/ $ 821.92 = 49 days
Cash to Cash Days
The cash to cash days is the period of converting the receivables and inventory balances to cash. It is calculated by the following formula
A/R Days + Inventory Days - A/P days
32 + 106 -49 = 89 days
Final answer:
To calculate A/R days, Inventory days, A/P days, and Cash-to-Cash days, the following formulas are used, resulting in 32 days, 106 days, 30 days, and 108 days respectively for each metric.
Explanation:
To calculate the A/R days, Inventory days, A/P days, and Cash-to-Cash days, we first need to understand what these metrics mean:
A/R days (Accounts Receivable days) indicates the average number of days it takes a company to collect cash from credit sales.Inventory days reflects the average number of days that a company holds inventory before it is sold.A/P days (Accounts Payable days) represents the average number of days it takes a company to pay its suppliers.Cash-to-Cash days is the cycle time between when a company pays out cash for inventory and when it receives cash from sales. It's calculated as Inventory days + A/R days - A/P days.For these calculations, we use the formulas:
A/R days = (Accounts Receivable / Sales) × 365Inventory days = (Inventory Balance / Cost of Goods Sold) × 365A/P days = (Accounts Payable / Cost of Goods Sold) × 365Using the provided figures:
A/R days = (40,000 / 460,000) × 365 ≈ 31.74, rounded to 32 daysInventory days = (87,000 / 300,000) × 365 ≈ 105.8, rounded to 106 daysA/P days = (25,000 / 300,000) × 365 ≈ 30.42, rounded to 30 daysCash-to-Cash days = Inventory days + A/R days - A/P days = 106 + 32 - 30 = 108 days
Therefore, the A/R days are 32 days, Inventory days are 106 days, A/P days are 30 days, and Cash-to-Cash days are 108 days.
Sumner sold equipment that it uses in its business for $30,800. Sumner bought the equipment a few years ago for $79,600 and has claimed $39,800 of depreciation expense. Assuming that this is Sumner's only disposition during the year, what is the amount and character of Sumner's gain or loss?
Answer:
The correct answer is loss of $9,000 and section 1231.
Explanation:
According to the scenario, the given data are as follows:
Purchase amount of equipment = $79,600
Depreciation expense = $39,800
Sold value = $30,800
So, to calculate the amount of gain or loss we use the following formula:
Gain or loss = Sold value - ( purchase value - depreciation expense)
= $30,800 - ( $79,600 - $ 39,800 )
= $30,800 - 39,800
= -$9,000
As the value is in negative, it shows loss.
Hence, It shows the loss of $9,000 under section 1231.
Kamara Jobs, a recruitment company, decides to launch its own global online application. It pays $200,000 to obtain the proven technology required to launch this application from an information technology firm. In the context of the costs of useful information, Kamara Jobs has incurred _____.A) processing costB) retrieval costC) acquisition costD) storage cost
Answer:
(C) Acquisition cost
Explanation:
The correct word for the given statement is acquisition cost
So option (c) is correct option
Acquisition cost alludes to the in with no reservations cost to buy a benefit. These expenses incorporate delivery, deals charges, and customs expenses, just as the expenses of site planning, establishment, and testing.
When securing property, obtaining expenses can incorporate looking over, shutting charges, and taking care of liens.
Read more on Brainly.com - https://brainly.com/question/14254793#readmore
Answer:
c. acquisition cost
Explanation:
Acquisition cost -
It refers to the amount necessary to buy any asset , is referred to as the acquisition cost .
The cost includes all the custom charges , taxes , shipping charges , testing , installation and preparation charges .
In case of acquiring any property , cost like , closing fees , surveying , paying off liens are also includes .
The total amount is the book value of the property or asset .
Hence , from the given scenario of the question,
The correct option is c. acquisition cost .
The management of Blue Ocean Company estimates that 50,000 machine-hours will be required to support the production planned for the year. It also estimates $300,000 of total fixed manufacturing overhead cost for the coming year and $4 of variable manufacturing overhead cost per machine-hour. What is the predetermined overhead rate? $10.00 per machine-hour $12.50 per machine-hour $8.00 per machine-hour $6.00 per machine-hour
Answer:
$6.00 per machine-hour
Explanation:
Total estimated manufacturing overhead = $300,000
Estimated machine hours = 50,000 hours
Predetermined overhead rate = Total estimated manufacturing overhead / Estimated machine hours
Predetermined overhead rate = $300,000 / 50,000 machine hours
Predetermined overhead rate = $6 per machine hour
So, The correct asnwer is $6.00 per machine-hour.
Answer:
$10 per MH
Explanation:
Estimated total overhead cost = $300,000 + ($4 per MH × 50,000 MHs) = $500,000
Predetermined overhead rate = Estimated total overhead cost of $500,000 ÷ 50,000 MHs = $10 per MH
Vaughn Manufacturing reported total manufacturing costs of $450000, manufacturing overhead totaling $98000, and direct materials totaling $116000. How much is direct labor cost?
Answer:
Direct labor cost will be equal to $236000
Explanation:
We have given total manufacturing cost = $450000
Manufacturing overhead totaling is equal to $98000
And direct material totaling is equal to $116000
We have to find the direct labor cost
Direct labor cost is equal to
Direct labor cost = Total manufacturing cost - manufacturing overhead totaling - direct material totaling
= $450000 - $98000 - $116000 = $236000
So direct labor cost will be equal to $236000
Old school publishing inc. began printing operations on january 1. jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. in addition to the materials and labor charged directly to the jobs, $1,030 of indirect materials and $12,430 of indirect labor were used during the month. the cost sheets for the four jobs entering production during the month are as follows, in summary form:
Complete Question:
direct material 10,900
Direct Labor 8,900
Factory Overhead 5785
Total 25,585
Job 302
Direct Material 18,300
Direct Labor 17,700
Factory Overhead 11,505
Total 47505
Job 303
Direct Materials 26,000
Direct Labor 16,000
Factory Overhead -
Job 304
Direct Material 13700
Direct Labor 12300
Factory Overhead -
Required:
Journalize the Jan. 31 summary entries to record each of the following operations for January (one entry for each operation). Refer to the Chart of Accounts for exact wording of account titles.
A. Direct and indirect materials used.
B. Direct and indirect labor used.
C. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost).
D. Completion of Jobs 301 and 302.
Solution:
S No. Particulars Debit ($) Credit ($)
A. Work in process 68900
Material inventory 68900
(10900+18300+26000+13700)
(Direct materials used)
Factory overhead 1030
Material inventory 1030
(Indirect materials used)
B. Work in process 54900
Wages payable 54900
(8900+17700+16000+12300)
(Direct labor used)
Manufacturing overhead 12430
Wages payable 12430
(Indirect labor used)
C. Work-in-process 35685
Manufacturing overhead 35685
(Note:1)
(Factory overhead applied)
D. Finished goods 73090
Work-in-process 73090
(Total cost of Job 301 & 302)
(25585+47505)
(Completion of Jobs 301&302)
Notes:
1 Consider Job 301
Direct labor=8900
Factory overhead=5785
Factory overhead as a % of direct labor =(5785/8900)*100 = 65%
Total direct labor cost for all four jobs= 54900
Factory overhead=54900*65%
=35685
The business scenario discusses the method of job costing, in which both direct and indirect costs are allocated to individual jobs. Direct costs are allocated directly, while indirect costs need to be spread among all jobs based on a fair method, such as labour or machine hours.
Explanation:The subject question pertains to Job Costing in business accounting, a method used to accumulate costs of individual jobs. To calculate the costs of Jobs 301 and 302, we need to take into account the direct and indirect costs mentioned and assign them to these jobs. Direct costs are those that can be directly assigned to a job, like labor or materials used specifically for that job. Indirect costs, on the other hand, such as indirect materials and labor, rent and utilities, are costs that are not incurred for a specific job but for the business as a whole. These should be allocated among all jobs.
In the given scenario, Jobs 301 and 302 have finished, while 303 and 304 are unfinished. All costs except factory overhead (presumably including the indirect materials and labour) have been noted down. The overhead costs ($1,030 and $12,430) need to be allocated to these jobs on some equitable basis, possibly based on labour or machine hours used per job. To find the total cost for each job, the allocated share of overhead costs should be added to the initial costs. The result would be the job costs for each job.
Learn more about Job Costing here:https://brainly.com/question/34938833
#SPJ3
Susan, a single taxpayer, owns and operates a bakery as a sole proprietorship. The business is not a specified services business. In 2018, the business pays $100,000 in W-2 wages, holds $150,000 of qualified property, and reports $150,000 in net income (all of which is qualified business income). Susan has no other items of income or loss and will take the standard deduction.
What is Susan's QBI deduction?
Susan's Qualified Business Income deduction for her bakery in 2018 would be $30,000, calculated as the lesser of 20% of her qualified business income or the limitation based on W-2 wages and qualified property.
Explanation:The question focuses on calculating Susan's Qualified Business Income (QBI) deduction for her sole proprietorship bakery for the tax year 2018. Under the Tax Cuts and Jobs Act, individuals are allowed to deduct up to 20% of their QBI from a pass-through entity, such as a sole proprietorship. There are limitations based on W-2 wages paid and the unadjusted basis of qualified property immediately after acquisition (UBIA). Since Susan's business is not a specified service trade or business (SSTB), she can potentially qualify for the full deduction. The QBI deduction is the lesser of 20% of QBI or a limit based on W-2 wages and qualified property. Susan's potential QBI deduction is 20% of her net income (20% of $150,000), which equals $30,000. However, this must also be compared against the limitation based on W-2 wages and qualified property (50% of W-2 wages or 25% of W-2 wages plus 2.5% of UBIA of qualified property). 50% of Susan's W-2 wages is $50,000, which exceeds the 20% QBI amount. Therefore, Susan's QBI deduction is $30,000.
A customer of a RR wants to give the RR two tickets to a local musical worth $150. Which of the following is true? (A) The tickets may be accepted because they are from a satisfied customer. (B) The tickets may be accepted after the prior written approval of FINRA. (C) The tickets may not be accepted because they exceed the $100 limit. (D) The tickets may not be accepted regardless of the value of the tickets.
Answer:
(C) The tickets may not be accepted because they exceed the $100 limit.
Explanation:
There is a restriction on the amount each employee can collect from customers, this is to ensure that gifts are not used as a way to influence employees. This is according to rule of FINRA (Financial Industry Regulation Authority) 3220. The limit is $100 per employee per year.
The tickets worth $150 cannot be accepted by a registered representative since they exceed the $100 limit set by regulatory guidelines, violating the acceptance of gifts and gratuities rules.
The correct answer to the question is (C) The tickets may not be accepted because they exceed the $100 limit. In the context of rules and regulations for registered representatives (RR) set by financial industry regulatory bodies like FINRA, there are strict guidelines regarding the acceptance of gifts and gratuities. FINRA has a limit on the value of gifts that can be accepted by an RR from customers without prior written approval. This limit is traditionally set at $100. As the tickets have a value of $150, accepting them would violate these regulations.
Therefore, despite being offered by a satisfied customer, the RR must adhere to these rules and decline the tickets.
Samantha needs to purchase something that economists would label as "labor" to help her produce court documents for her law firm. Which of the following is an example of labor?
A. Stenography machine to type courtroom proceedings.
B. The ability to see that organizing courtroom documents is an unfilled market need.
C. Filing cabinets to store the typed courtroom documents.
D. A stenographer who can type courtroom proceedings.
Answer:
D) A stenographer who can type courtroom proceedings.
Explanation:
There are four factor of production:
land: includes any raw materials and natural resources used to produce other goods labor: human work involved in the production process. A stenographer is a human that works. capital: physical tools and equipment involved in the production processentrepreneurship: person that combines all the other 3 factors of productionMaurice, the marketing head of a nonprofit organization, always begins his presentation on a project by sharing a lesser-known fact about the issue that the project focuses on. This helps the members of the audience get a better picture of the importance of the issue and makes them more attentive. Given this information, it can be assumed that Maurice uses ________ to open his presentations.
Answer:
Maurice, the marketing head of a nonprofit organization, always begins his presentation on a project by sharing a lesser-known fact about the issue that the project focuses on. This helps the members of the audience get a better picture of the importance of the issue and makes them more attentive. Given this information, it can be assumed that Maurice uses persuasive means to open his presentations.
Explanation:
From the above analogy, it is a known fact that Maurice used persuasive presentation by presenting facts to support his claims in order to allow his audience to agree with his presentation.
Marta’s Online Store Sells Accessories For A Widely Used Smartphone, And Her Current Customer Base Shares A Number Of Relevant Characteristics. She Believes She’ll Have Her Best Return On Investment By Narrowing Her Google Search Campaign Audience. Which Two Google Search Campaign Settings Can Be Configured To Reach More Specific Customers? (Choose Two.)1. Budget type
2. Web browser
3. Device type
4. Location
5. Budget
Answer:
3- Device Types
4- Location
Explanation:
These 2 settings can help Marta in targeting the specific audience she wants to.
Location Settings allows your campaign to reach the location of your choice, where Marta feels that the most relevant audience belongs. For example, if she feels that her customers mainly belong to Houston, so she could specify her campaign to Houston to save money instead of running the campaign in every part of the country.Device Type, specifying this category would allow limiting her audience to only specific people who are active on cellphones as mostly that's her customer base.Gambling appeals to basic human instincts: the desire for wealth, fascination with random events and beliefs in luck. in moderation , gambling can be simple escapist fun . a lottery , however isa poor way to gamble. the best ,easure for any game of chance is it payout ratio; for every dollar put in, how much is paid back? states lotteries
Answer:
True
Explanation:
Remember, gambling is a game of chance, meaning there is no 100% certainty of winning.
A random chance event occurs when gambling because for every dollar put in, how much is paid back is uncertain. However, because of the basic human instincts:
the desire for wealth, fascination with random events and beliefs in luck.people gamble.