Answer:
1. Marginal Cost
2. Constant Marginal Cost
3. Marginal Benefit
4. Increasing Marginal Cost
5. Optimal Quantity
6. Decreasing Marginal Benefit
Explanation:
Note: In the given question, an option has been wrongly mentioned as "Marginal benefit constant." It should be read as "Marginal cost constant". This solution has been provided based upon the said assumption.
Marginal Cost refers to additional cost incurred when an additional unit is produced.
Constant marginal cost refers to a situation wherein the cost incurred for producing successive units remains the same.
Marginal Benefit refers to the the extra utility derived upon consumption of an extra unit of a product.
Increasing Marginal Cost refers to a situation wherein the extra cost incurred follows an increasing trend as successive units are produced.
Optimal Quantity is defined as the quantity whose production or consumption maximizes the gain whether in the form of utility or in monetary terms.
Decreasing Marginal benefit refers to the situation wherein extra utility derived from successive consumption of units falls.
Final answer:
Terms related to economics, such as marginal cost, marginal benefit, and optimal quantity, are matched with their corresponding definitions in a clear and concise manner.
Explanation:
Let's match the definitions with their corresponding terms from the field of economics:
The cost of producing one more unit of a good or service: c. marginal cost
The situation where an additional unit of a good or service costs the same as each of the former units: d. marginal cost constant
The benefit experienced from undertaking one more unit of an activity: d. marginal benefit
A situation where the expense of producing one more unit of a good or service is greater than that of producing the previous unit: b. increasing marginal cost
The amount that, when produced or consumed, results in the greatest possible net gain: f. optimal quantity
The situation that occurs when the gain from an additional unit of a good or service is less than that gained from producing the previous unit: a. decreasing marginal benefit
Many magazine companies are dropping the title of ________ from their publications as evidence of the importance of digital publishing to their business.
Answer:
The correct answer is publisher.
Explanation:
The concept of editor includes that person or company, such as an editorial, which is dedicated to editing works or other publications, such is the case of journalistic, among the most recurrent, the publication of books and magazines.
This task constitutes a very important industry in almost all the countries of the world and has a very relevant cultural function, since in addition to of course being an economic business for those who participate directly in it, authors, publishers, sellers, through it The information is set in motion so that it reaches the interested public and in this way it can know more or educate itself about a certain science or topic.
When a person is authorized by the principal to transact all affairs in connection with a particular type of business or trade or to transact all business at a certain place, that person is a __________ agent.
Answer:
General agent
Explanation:
A general agent is a person that the principal authorises to perform transactions in relation to a part business on a certain place.
A general agent can perform all acts in relation to a business that has been assigned by the principal. For example in real estate when an agent performs property management functions for his client he is acting as a general agent.
On the other hand a special agent is one that is employed by a principal to perform a specific task or job and his scope of responsibility is limited to that job function.
Sun Corp. had investments in marketable debt securities costing $650,000 that were classified as available-for-sale. On June 30, Year 2, Sun decided to hold the investments to maturity and accordingly reclassified them to the held-to-maturity category on that date. The investments' fair value was $575,000 at December 31, Year 1, $530,000 at June 30, Year 2, and $490,000 at December 31, Year 2. Sun does not elect the fair value option to account for these investments. What amount of loss from investments should Sun report in its Year 2 income statement?
Answer:
Explanation:
As per the
When an asset is reclassified from available for sale to amortized cost fair value on the date of reclassification becomes the new carrying amount of the financial asset. However, the cumulative gain or loss previously recognised in other comprehensive income is removed from equity and adjusted against the fair value of the financial asset at the reclassification date. this will not affect the profit and loss of the entity.). The effective interest rate and the measurement of expected credit losses are not adjusted as a
result of the reclassification
Investment Carrying Amount AFS = 530000
Fair Value = 490000
40000
proposed entries
OCI 40000
investment AFS 40000
investment at amortization cost 490000
investment at available for sale 490000
An online buying club offers a membership for $115, for which you will receive a discount of 10 percent on all brand-name items you purchase. How much would you have to buy to cover the cost of the membership
Answer:
$1,150 worth of items
Explanation:
Given that,
Club offers membership = $115
Discount of all brand name purchase = 10%
Therefore, to cover the cost of membership,
You would have to purchase = 115 ÷ 0.10
= 1,150.
So, you have to buy items worth $1,150 to cover the cost of the membership.
Note that,
Discounts are a reduction in the original cost of a commodity, usually done in order to attract customers.
Within a ___________________, the necessary ingredients exist to enable the organization's employees to identify, design, develop, produce, deliver, and support products or services that the customer wants.
Answer:
Quality management system.
Explanation:
Quality management system is defined as a set of processes bthatbare carried out with the aim of ensuring services satisfy the customer. It involves organisational goals, processes, documented information, and resources needed to implement quality management.
QMS ensures continous improvement of organisation's processes, products, workflow, and culture in the bud to satisfy the customer.
After receiving the seller’s transfer disclosure statement, buyer clark rivers is not satisfied that all has been revealed. he’s heard rumors that a previous tenant died of aids inside the very home he would like to buy. clark demands to know if this is true, since it was not mentioned on the disclosure statement. which of the following is the appropriate legal response the broker must give to clark’s query?a. yes, this is true. a previous tenant, who lived and died here two years ago, did have aids.b. i’m sorry, but the transfer disclosure statement covers all material facts that must be disclosed, and a person having aids is not a material fact, whether or not it would be applicable in this situation.c. i’m sorry, but i am not permitted to answer this question, as it could be a potential civil rights violation, under the federal and state fair housing laws.d. both b and c.
Answer:
Both b. and c.
That is
b. i’m sorry, but the transfer disclosure statement covers all material facts that must be disclosed, and a person having aids is not a material fact, whether or not it would be applicable in this situation.
c. i’m sorry, but i am not permitted to answer this question, as it could be a potential civil rights violation, under the federal and state fair housing laws.
Explanation:
In the given instance the buyer if the property is asking if the previous tenant had AIDS and wants to use this information in the purchasing process. This is illegal and could result in legal action due to civil rights violation. Discrimination is not allowed in deciding to do business with another party, and the buyer is trying to discriminate on the grounds that the previous owner had AIDS.
Also in disclosing relevant information, wether the previous owner had AIDS is irrelevant to the sale of the house as it does not affect the quality of the house.
Lambert Company, a wholesale merchandiser, would record a sale when the goods leave Lambert's shipping department only if which of the following possible times for transfer of controls is specified in the sales agreement?
A. FOB cash on delivery
B. FOB destination
C. FOB prepaid
D. FOB shipping point
Answer: D. FOB shipping point
Explanation:
FOB(Free-on-board) shipping point is the agreement term state where buyer and seller note the delivery of goods as the shipments leaves from shipment dock.
According to the question,Lambert shipping should have specific FOB shipping point in contract for knowing clear record of delivery of goods leaving the sellers warehouse.
Other options are incorrect because FOB cash on delivery, FOB prepaid and FOB destination are not the agreement terms to defines about product delivery left from shipment dock.Thus, the correct option is option(D)
Lambert Company would record a sale when the goods leave its shipping department if the sales agreement specifies FOB shipping point. This is because under FOB shipping point, the buyer assumes responsibility as soon as the goods leave the seller's premises and the seller can recognize the sale at that point.
Explanation:The Lambert Company would record a sale when the goods leave Lambert's shipping department if the sales agreement specifies FOB shipping point. FOB stands for 'Free On Board', a term used in shipping agreements to decide when the costs, risk, and title of goods move from the seller to the buyer.
Under FOB shipping point, the buyer assumes responsibility as soon as the goods leave the seller's premises. In other words, the seller records a decrease in its inventory costs and recognizes revenue from the sale once the goods leave their shipping department.
On the other hand, FOB destination means the seller assumes responsibility until the goods reach the buyer's location. In this case, the seller would record the sale only after the goods have been delivered to the buyer's place. FOB cash on delivery and FOB prepaid are payment terms and don't affect when the seller records the sale.
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Two advantages of decentralization are that (1) managers are encouraged to not solve their own problems, but rather to ask for assistance as soon as possible, and (2) decisions are made more slowly because they are discussed at a higher level of management.
"Two advantages of decentralization are that (1) managers are encouraged to not solve their own problems, but rather to ask for assistance as soon as possible, and (2) decisions are made more slowly because they are discussed at a higher level of management" is TRUE.
Explanation:
Decentralization is purely a matter of splitting management work and assigning similar tasks to the different executive competences. Put structured effort into delegating all authority to the lowest levels, excluding that which can only be practiced at the major points.
Advantages:
Minimizes the pressure on senior executives,encourages diversification, encouraging executive growth, fostering inspiration, better monitoring and monitoring and Rapid Judgment-Making.Disadvantages:
Uniform guidelines not pursued, co-ordination issue, more monetary pressure, requirement of trained staff anddispute.A producer of a new energy drink wants to find out if it is cost effective to license the Gold’s Gym logo to display on its packaging. Two test packages for the product were developed: One package with the Gold’s logo; the other does not. A sample of consumers (representing the firm's target market) is invited to select an energy drink from a display containing package without the logo along with packages for several competing brands of energy drink. A second sample of consumers is asked to select an energy drink from a display that contains the same competing brands and the package that has the Gold’s Gym logo. This is an example of research using:
Answer:
Experimentation
Explanation:
When you are carrying out an experimental research you must manipulate one or more variables in order to observed how the other variables are affected. In this case, the researcher used the packages with Gold's Gym logo as the manipulated variable. Then he observed how the consumers reacted to having that package or not.
The question is about comparative market research. Here, two variations of a product (with and without Gold’s Gym logo) are tested to determine consumer preference. This is similar to A/B market testing.
Explanation:The producer's research method is an example of comparative market research. Comparative market research involves comparing two or more variations of a product or service to analyze which one is more preferred by the target audience. In this case, the producer created two sample packages of the energy drink – one with the Gold’s Gym logo and one without it – to determine which packaging consumers preferred. Similar to an A/B market test, this research type aids in identifying choices that can potentially drive more sales. The concept can be further illustrated by the example of a new laundry detergent being tested to see how many consumers prefer it over a leading competitor.
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According to _________, the typical perspective held by managers is that employees dislike work, must be monitored, and can be motivated only with rewards and punishment ("carrots and sticks").
According to Theory X, the typical perspective held by managers is that employees dislike work, must be monitored, and can be motivated only with rewards and punishment.
Explanation:A psychologist named Douglas McGregor was the one who developed the concepts of Theory X and Theory Y .These includes a set of assumptions that are considered by the mangers to judge about the people. The assumptions like, dislike, unwillingness in working and little ambition are included in Theory X.
Theory X also have assumptions that employees are lazy, will be doing any of the things for the purpose of avoiding work and also will be unmotivated.In contrast to it, Theory Y assumes that the employees will be happy in working, and also will like to have additional duties without forcing them to do.
Final answer:
Douglas McGregor's Theory X describes a management perspective where employees are considered lazy and motivated only by rewards and punishment, leading to a rigid work environment. Contrastingly, Theory Y offers a positive view, suggesting that employees are inherently motivated and thrive when given more responsibility.
Explanation:
According to Douglas McGregor, the typical perspective held by managers that employees are inherently lazy and must be motivated by rewards and punishment is encapsulated in Theory X. This conventional management approach is built upon assumptions that employees dislike work, shirk responsibility, and require strict supervision as well as enticement through 'carrots and sticks' to perform adequately. Theory X managers tend to create rigid, control-based environments that heavily depend on external motivation to drive employee performance.
In contrast to Theory X, McGregor also introduced Theory Y, which holds a more optimistic view of employee motivation and behavior. Theory Y suggests that employees are naturally motivated, seek responsibility, and the job of the manager is to cultivate an environment which allows individuals to recognize and fulfill their own potentials.
What is the best example of a supply shock?
Answer:
oil and gas industry think soSuppose again that furniture production is more capital-intensive relative to clothing production, which is more labor-intensive. If the relative price of furniture to clothingrises, this will:___________.A. lower the incomes of both labor and capital owners.B. raise the income of labor owners.C. raise the income of both labor and capital owners.D. raise the income of capital owners.
Answer:
The correct answer is D. raise the income of capital owners
Explanation:
Stockholders' equity includes the accumulated profits of the company and the amount of capital invested by its shareholders in exchange for shares of its common and preferred shares. When there is an increase in the income or capital of a company, the overall result is an increase in the balance of the company's equity. Net worth can increase the sale of capital shares, increasing the company's income and decreasing its operating expenses.
A company can plan the exact amount of the increase in stockholders' equity, as in the case of an issue of common and preferred shares at a set price. This change differs from an increase that can occur to equity, as a result of net income, while the company plans to make a profit from operations, its real net income is only known after the fiscal year has ended.
When a company issues common and preferred shares, the shareholder's equity section of the balance sheet increases in the share price of the shares. The nominal value can be shown as a separate item from the additional paid capital on the shares or the balance can be totaled on the same line. A company can increase the accounting capital by issuing capital shares to pay off its debts and reduce interest costs.
_________ is calculated by taking _________ and then subtracting the value of how much physical capital is worn out, or reduced in value because of aging, over the course of a year.
Answer:
NNP; GNP hope this helps ;)
IT SHOULD BE RIGHT :0
Richard is an employee of the Dun Construction Corp. While delivering materials to a construction site, he carelessly backs Dun’s truck into a passenger vehicle driven by Green. This is Richard’s second accident in six months. When the company owner, Dun, learns of this latest accident, a heated discussion ensues, and Dun fires Richard. Dun is so angry that he immediately writes a letter to the union of which Richard is a member and to all other construction companies in the community, stating that Richard is the "worst driver in the city" and that "anyone who hires him is asking for legal liability." Richard files a suit against Dun, alleging libel on the basis of the statements Miller, Roger LeRoy. Business Law: Text & Cases - The First Course - Summarized Case Edition (p. 123). Cengage Learning. Kindle Edition.
Answer:
Richard's claim against Dun for libel were considered valid by the court since Dun's letter was made only with the intent of hurting Richard. Dun knew that by writing that letter to the union and other construction companies, it would be extremely difficult for Richard to find a new job. The sole intention of the letter was to hurt Richard, not to warn others about Richard's poor driving abilities.
Explanation:
White Laundry Company purchased $6,500 of supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the supplies indicated only $3,000 on hand. It is the company’s first period of operations. The adjusting entry that should be made by the company on June 30 is:________.
1. debit supplies expense, $3,000; credit supplies, $3,000.
2. debit supplies, $3,000; credit supplies expense, $3,000.
3. debit supplies, $3,500; credit supplies expense, $3,500.
4. debit supplies expense, $3,500; credit supplies, $3,500.
Answer:
4. debit supplies expense, $3,500; credit supplies, $3,500.
Explanation:
Assuming there is no opening inventory of supplies. So the purchases mad is the only inventory which is in stock during the Month of June. Stock has been used during the month and at the end of the month it remains only $3,000.
Using following Formula we will calculate the supplies Expense.
Ending Inventory of supplies = Opening Inventory of supplies + Purchases - supplies Expensed in the period
$3,000 = $0+ $6,500 - Supplies Expensed in the period
$3,000 = $6,500 - Supplies Expensed in the period
$6,500 - $3,000 = Supplies Expensed in the period
Supplies Expensed in the period = $3,500
So, the entry will be
Debit supplies expense $3,500
Credit supplies $3,500
Henry Ford is well known to business students for creating the assembly line that enabled mass production of the Model T. This is an example of ________.
Answer:
Production orientation
Explanation:
The application of Taylor's scientific management which says that their is one best way to do a single task which brings maximum efficiency and learning of the employee. This can be done by simply breaking a single task into numerous tasks and then assigning that single task to each employee. Now each employee does the same task very efficiently and the result is economies of scale which lets the company sell maximum number of products at a very low price because of increase productivity. This was the achievement of Henry Ford who assigned single task to numerous machines and human resource to do in more efficient way and the result is that we today see Ford company as one of biggest giant of automobile industry which is operating more than 110 countries across the globe.
Answer:
The option for this answer are the following:
A.Production orientation B. Selling orientationC. Marketing orientationD. Buzz marketing orientationE. Business orientation
The correct answer is
Explanation:
The production orientation is basically focused on the process of manufacturing and producing the product, the companies that give character to this action are very effective at the operational level and their objectives are always focused on optimizing the production process.
In addition, the production orientation focuses on production costs, research of technical products, and its packaging is focused on product protection and moves away from what marketing is.
While product orientation is more concerned with product quality, its managers think that their products are unique and offer different benefits from those of the competition. So they only live focused on making improvements to the product.
Also companies that have product orientation sometimes lose focus on the market, since they only care about applying new technologies to the product, leaving aside market research and ignoring customer tastes. For what puts the product-oriented companies at a disadvantage, especially in changing markets where the consumer needs and has products that continually evolve.
According to the Solow growth model, high population growth rates:_________ a) are a prerequisite for technological advances and higher living standards. b) force the capital stock to be spread thinly, thereby reducing living standards. c) place great strains on an economy's productive resources, resulting in perpetual poverty. d) are not a factor in determining living standards."
Answer:
b) force the capital stock to be spread thinly, thereby reducing living standards.
Explanation:
Solow growth model: It is a model of economic growth, which was developed by Nobel laureate Robert Solow. It helps in analyzing the change in the output of production due to a change in population growth rate, saving rate and technological growth rate.
In the Solow growth model, an increase in population growth rates will increase the growth rate of the total output of production, however, there are no sharp changes in the growth rate of per capita output and decrease in capital intensity and saving rate, which reduce living standard.
Valuetronics, an electronics company, is currently in the preproduction stage of launching one of its new stereo systems. In order to analyze the feasibility of the product, Valuetronics adopts an integrated system that allows it to manufacture the product before it physically exists, that is, the system allows Valuetronics to finalize the design of the stereo, analyze it, and do a test-run. In this context, Valuetronics is using a:____________.a. enterprise resource planning (ERP) system b. flexible manufacturing system (FMS) c. computer-aided engineering (CAE) system d. computer-aided manufacturing (CAM) system
Answer:
Option C; COMPUTER-AIDED ENGINEERING SYSTEM (CAE)
Explanation:
Computer-aided engineering system (CAE) is the broad usage of computer software to aid in engineering analysis tasks. It is the use of computer software to simulate performance in order to improve product designs or assist in the resolution of engineering problems for a wide range or industries.
A typical CAE comprises of preprocessing solving and postprocessing steps.
CAE is the next step in not only designing a product, but also supporting the engineering process as it allows to perform tests and simulations of the product's physical properties without needing a physical prototype.
Therefore, Valuetronics is using COMPUTER-AIDED ENGINEERING SYSTEM (CAE).
In translating a foreign subsidiary's financial statements, which exchange rate does the current method require for the subsidiary's assets and liabilities? Multiple Choice The exchange rate in effect when each asset or liability was acquired. The average exchange rate for the current year. A calculated exchange rate based on market value. The exchange rate in effect as of the balance sheet date. The exchange rate in effect at the start of the current year.
Answer:
The exchange rate in effect as of the balance sheet date.
Explanation:
Here some important points to consider while translating a foreign subsidiary's financial statements
In translating a foreign subsidiary's financial statements, please, do not mess up a functional currency with a presentation currency. Every company has just one functional currency, but it can present its financial statements in many presentation currencies. While the functional currency depends on the economic environment of a company and its specific operations, the presentation currency is a matter of CHOICE.A title clause in a contract provides exactly what type of title the buyer is expecting to receive from the seller: Group of answer choices True False
Answer:
True
Explanation:
A retention of title clause within a contract of sale essentially means that ownership remains with the supplier, until full payment for the goods has been received. That is the seller of a particular product still holds full custody of his goods until the buyer fully pays for the goods.
The Federal Reserve is:__________A) a primary purchaser of Treasury securities and an active participant in the secondary market for these issuesB) a primary purchaser of Treasury securities but not an active participant in the secondary market for these issuesC) not a primary purchaser of Treasury securities but an active participant in the secondary market for these securitiesD) not a primary purchaser of Treasury securities and not an active participant in the secondary market for these securities
Answer:
C) not a primary purchaser of Treasury securities but an active participant in the secondary market for these securities.
Explanation:
The federal reserve is a government body that is tasked with controlling liquidity in the economy by use of various tools like interest rate and issuance of securities.
Treasury securities are a tool for controlling economic liquidity by mopping up excess cash.
The federal reserve is not a primary purchaser of treasury securities as it does not bid for shares it issues at weekly auctions. Primary traders are the ones that buy at weekly auctions.
However in the secondary market the federal reserve trades in treasury securities to control credit and liquidity.
A purchaser desires to offer $174,900 for a home. The buyer will put a total of 15% down of which 1% will be put down as an earnest money deposit. How much will the new loan be for?
Answer:
$148,665
Explanation:
This could be calculated by finding the amount that the buyer will which includes 14% + 1% = 15%
So this means that the payment made is:
Payment made = $174,900 X 15% = $26,235
The remainder amount will be borrowed from the bank and is equal to the difference of 15% and the total amount.
Amount that would be borrowed = $174,900 - $26,235 = $148,665
Acme Company has three identical manufacturing plants, one on the Texas Gulf Coast, one in southern Alabama, and one in Florida. Each plant is valued at $200 million. Acme's risk manager is concerned about the damage which could be caused by a single hurricane. The risk manager believes there is an extremely low probability that a single hurricane could destroy two or all three plants because they are located so far apart. What is the probable maximum loss associated with a single hurricane?
A) $0 million
B) $200 million
C) $400 million
D) $600 million
Answer:
B) $200 million
Explanation:
Since Acme's risk manager is concerned about the damage which could be caused by a single hurricane and he believes there is an extremely low probability that a single hurricane could destroy two or all three plants because they are located so far apart.
Extremely low probability implies NO probability for two or three plants, hence, no likelihood exists
The probable maximum loss associated with a single hurricane is the total cost of 1 plant - $200 million, assuming 100% probability
Straight Arrow unloaded two tankers worth of toxic waste at an important port in the country of Urithmea. A hundred workers worked two days in their shorts and sandals to unload the barrels from the tankers for $5 a day. They were not told about the content of the barrels. Some observers felt that it was the obligation of not just the government of Urithmea but also of Straight Arrow to ensure that no harm was done to the workers. These observers are most likely:___________
1- Utilitarianists
2- Cultural relativists
3- Justice theorists
4- Rights theorists
5- Naïve immoralists
Answer:
4- Rights theorists
Explanation:
Rights theorists -
According to this theory , it is the legal and moral right of an individual person , hence , any activity against these rights are unexceptable , is referred to as rights theorists .
The people have some basics rights , which can be claimed at any moment of work , and is need to be fulfilled by the company or government .
Hence , from the given scenario of the question ,
The correct option is 4 - Rights theorists
Technology has proliferated in Kenya and Somaliland, with text messages used to replace cash, creating mobile money use that, on a population percentage basis, exceeds any nation in the West.
True or False
Answer: True
Explanation:
Something that has caught the attention of many has been how electronic money has been used in countries like Kenya and Somalia. A study has confirmed that the use of mobile money has reduced poverty in places like Kenya. Mobile money is defined as money where people can make financial transactions through their phones.
This type of activity has greatly influenced poverty reduction and the high rates that occurred when people had to send money over certain distances. In countries like Somalia, there are no longer any traces of physical money, everything is virtual. In this way, the country has achieved economic stability for years. People increasingly consume through their mobile phones, making in an easier way all kind of payments.
The proliferation of mobile money technology in Kenya and Somaliland, exemplified by the widespread use of the Mpesa app and the rise of mobile purchasing on Jumia, supports the claim that their use of mobile money exceeds that in Western nations, making the statement true.
The statement that technology has proliferated in Kenya and Somaliland, with text messages used to replace cash, creating mobile money use that, on a population percentage basis, exceeds any nation in the West, is True. In Kenya, the use of the Mpesa app for transactions such as paying bills, shopping in stores, and taking taxis has enabled people to leapfrog traditional banking systems. This mobile money system is also used for internet sales on platforms like Jumia and by overseas workers to transfer money back home more affordably. Furthermore, the increased access to mobile technology in Sub-Saharan Africa, as highlighted by a fivefold increase in mobile phone access, has enabled benefits ranging from improved market access for fishers and farmers to secure money transfers among individuals.
Samson Company reported total manufacturing costs of $320,000, manufacturing overhead totaling $52,000, and direct materials used totaling $64,000. How much is direct labor cost?
Answer:
Direct labor cost is $204,000
Explanation:
Total manufacturing costs $320,000
Manufacturing overhead $52,000
Direct materials used $64,000
How much is direct labor cost ?
Total Manufacturing is all the cost used to manufacture a product by the company. It included all direct and indirect expenses incurred during the period for manufacturing a product.
Use following formula to calculate the Direct labor cost:
Manufacturing cost = Direct Expenses + Manufacturing Overhead
Manufacturing cost = ( Direct Material Expense + Direct labor Expense) + Manufacturing Overhead
$320,000 = ( $64,000 + Direct labor Expense) + $52,000
$320,000 = $64,000 + Direct labor Expense + $52,000
$320,000 = $116,000 + Direct labor Expense
Direct labor Expense = $320,000 - $116,000
Direct labor Expense = $204,000
True or False
1. There is no overlap between financial and managerial accounting.
2. Managerial accounting sometimes relies on past information.
3. Managerial accounting does not need to conform to GAAP
4. Financial accounting must conform to GAAP.
Answer:
1. False
2. True
3. True
4. True
Explanation:
1. There is an overlap between financial and managerial accounting. For example, inventory method and expenses. Again, financial groups and management groups are working together to create information in aligning the necessary planning, controlling, and decision making. Therefore, it is a false statement.
2. While planning, controlling and making a decision, managerial accountants have to rely on past performance. It is a true statement.
3. Managerial accounting does not need to conform to GAAP or even IFRS. It is a true sentence.
4. Financial statements indeed have to conform to GAAP (Generally accepted accounting principles). It is a true statement too.)
Clear Call Corporation makes phones, which are sold to consumers by DefDeals stores. Erna files a product liability suit against ClearCall, alleging a design defect. In deciding whether to hold ClearCall liable, the court may consider:__________.1. Erna's intended use for the phone.2. An available alternative design.3. DefDeals' method of accounting.4 .ClearCall's quality control efforts
Answer:
2. An available alternative design.
Explanation:
Note that in law held liable for the quality of products they sell to their customers. The cost or the legal penalty a manufacturer or trader incurs for producing or selling a faulty product is what is termed product liability.
Since it was the consumer Erna that filed a product liability suit against ClearCall, an available alternative design may be considered by the court so as to replace the faulty phone bought by Erna before holding ClearCall liable.
The new cereal product development team included a project manager located at headquarters in Chicago, a marketing specialist in the Los Angeles office, and a research and development (R&D) team in Kansas.A. Flattened management hierarchies.B. Self-directed work groups and virtual teams.C. Heightened global competition.
Answer:
The correct option is self-directed work groups and virtual teams
Explanation:
This question takes a look at post-bereaucratic organization(PBO),which is form of organization that differs from multi-divisional or multi-functional structure, where emphasis is laid on hierarchy and loyalty to superiors.
Self-directed work groups and virtual teams are a way to break the barriers that teams must be based in the same location and operate at the same time
With aid of advancement in information technology , far flung individuals can collaborate on issues of common interest, clear and mutual goals.
The team can only meetings via Skype for business and still ensure they deliver at the optimum level
Final answer:
New cereal product development teams involve diverse team members including product development and upper management, working towards a flattened management hierarchy and leveraging self-directed work groups for increased efficiency and productivity.
Explanation:
The development of new cereal products often involves collaboration between team members with various expertise including product development, engineering, production, purchasing, quality, regulatory, marketing, sales, and upper management. Teams may span multiple geographical locations and work in a manner that reduces hierarchical constraints, promoting a flattened management hierarchy. This encourages self-direction and empowers teams to be more proactive in their roles, thus benefiting from the collective intelligence and capabilities of its members.
As organizations strive for efficiency and productivity, the adoption of self-directed work groups and virtual teams has become increasingly prevalent. These teams can hire talent from a diverse pool, tap into different geographic regions, and measure success based on deliverables rather than traditional oversight methods. A reference to large companies such as the Miller Brewing Company and Texas Instruments Inc. highlights the significant improvements in productivity and quality that can be achieved with this team-based approach.
A woman making $1500 per month has her salary reduced by 20% because of sluggish sales. One year later, after a dramatic improvement in sales, she is given a 30% raise over her reduced salary. Find her salary after the raise. $ 1560 Correct: Your answer is correct. per month What percent change is this from the $1500 per month? 13 Incorrect: Your answer is incorrect. %
Answer:
A) Her salary after the raise is $1560 /month
B) 4% a month
Explanation:
(a)
A woman was making salary / month = $1500
Reduced % in salary = 20%
Reduced amount in salary/month = $1500 x 20% = $300 /month
Salary after reduced amount = $1500 - $300 = $1200 /month
A year later after a dramatic improvement in sales, increment % in salary
= 30% over reduced salary
= 1200 x (30/100) ==> $360 /month
Salary after increment = $1200 + $360 ==> $1560 /month
∴ the salary after raise is $1560 /month
(b)
starting salary = $1500 /month
Salary increment = $1560 - $1500 =$60 /month
%change = (Salary Increment / starting salary) x 100
= (60/1500) x 100
= 4% a month
After a 20% salary reduction and a subsequent 30% raise, the woman's new salary is $1560 per month, which is a 4% increment from original salary of $1500.
Explanation:The woman's salary after the 20% reduction would be $1200 per month (this being 80% of her initial salary). A 30% increment on the reduced $1200 salary would result in a new salary of $1200 + 30% of $1200 = $1560 per month. To find the percentage change from original salary of $1500, we calculate the difference between the new and original salaries, divide by the original, then multiply by 100. This equals to ($1560-$1500)/$1500 x 100 = 4%. So, the salary after raise has a 4% increment from the original salary.
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