1. The overhead allocated to each product line:
Basic = $103,500 (6,000 * $17,25)
Luxury is equal to $62,100 (3,600 * $17.25).
2. Activity Rate Using the ABC System:
Overhead Charges:
Material movement $3,666 / 78 moves equals $47 each move.
Quality $37,125 / 300 inspections equals= $123.75 each inspection
$124,800/9,600 m.hours = $13 per machine hour for machine maintenance
3. If Hazelnut use an ABC method, the amount of overhead assigned to the basic line is:
= $103,596
4. The amount of overhead that Hazelnut will allocate to the luxury line if an ABC approach is used is:
= $61,995
Explanation:
a) Information and calculations:
The total overhead is $165,591.
Activity Cost Cost Driver Cost Assigned Quantity/ Quantity
Pools to Pool Amount /Amount
Consumed Consumed
by Basic by Luxury
handling Number of moves $3,666 18 moves 60 moves
Quality Number of
inspections $37,125 200 100 inspections
Machine
maintenance No. of machine
hours $124,800 6,000 3,600 m.hours
Total overhead costs $165,591
Basic Luxury Total
Traditional pricing method based on machine hours as the cost driver:
Each product line's overhead is as follows:
Machine hours 6,000 3,600 9,600
Overhead rate = $165,591/9,600 = $17.25
Overhead assigned $103,500 $62,100
Overate rate:
Materials handling $3,666 78 moves = $47 per move
Quality $37,125 300 inspections = $123.75 per inspection
Machine maintenance $124,800 9,600 m.hours = $13 per machine hour
Assignment of costs:
Basic Luxury
Materials handling $47 * 18 = $846 $47 * 60 = $2,820
Quality $123.75 * 200 = 24,750 $123.75 * 100 = 12,375
Machine maintenance $13 * 6,000 = 78,000 $13 * 3,600 = 46,800
Total overhead assigned $103,596 $61,995
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Correct question:
Hazelnut Corp. manufactures lawn ornaments. It currently has two product lines, the basic and the luxury. Hazelnut has a total of $165,591 in overhead. The company has identified the following information about its overhead activity cost pools and the two product lines:
Activity Cost Cost Driver Cost Assigned Quantity/ Quantity
Pools to Pool Amount /Amount
Consumed Consumed
by Basic by Luxury
Materials
handling Number of moves $3,666 18 moves 60 moves
Quality Number of
inspections $37,125 200 100
inspections inspections
Machine
maintenance Number of
machine hours $124,800 6,000 3,600
machine hours machine hours
Required:
1. Suppose Hazelnut used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.
2. Calculate the activity rates for each cost pool in Hazelnut’s ABC system.
3. Calculate the amount of overhead that Hazelnut will assign to the basic line if it uses an ABC system.
4. Determine the amount of overhead Hazelnut will assign to the luxury line if it uses an ABC system.
the invested capital (in millions of dollars). find p(105, 45) and interpret it. (round your answers to one decima
The invested capital is $25 million, which is rounded to one decimal.
What is invested capital?The total amount of money a company raises by issuing bonds to bondholders and equity to equity shareholders, along with the total amount of debt and capital lease obligations, is what is referred to as invested capital. This amount is then added to the amount of equity issued to investors.
Net investment = Gross investment - depreciation.
Net investment = Investment at the beginning of the year -Investment at the end of the year.
Net investment = $105 million -$100 million.
Net investment = $5million
Depreciation = 20% of investment at start of the year
= 20% of 100million
= $20million
Gross investment is
$5million + $20million
=$25 million
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Econ Labs creates a new smartphone feature available only on Econ Lab phones. Focus groups and surveys show many may switch from their current phone to the Econ Lab new smartphone. Also, Econ Labs created a new manufacturing process that increases the number of phones which it can produce per hour by 20%.
Instructions:
Graph the change in the supply and demand curves. Show changes in price and quantity demand (increase, decrease, or indeterminate). Assume similar elasticities-slope steepness of supply and demand curves.
The graphical representation to display the cost of the new smartphones in the changing demand and supply curve would be a two upward and two downward curves intersecting each other.
The demand and supply are dependent on each other and it guides the price fluctuations of the commodity in the market. If the demand for a certain product increases, then its prices are bound to fall. The curve therefore has a intersection point which represented the equilibrium cost of the item. The parameters which influence the change demand are the prices of the product, income, preference and expectation of the customer. The X axis in the given graph shows the quantity and the Y axis represents the prices of them item.
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if a dollar currently purchases 12.5 pesos and someone forecasts that in a year it will purchase 14 pesos, then the forecast is given in
if a dollar currently purchases 12.5 pesos and someone forecasts that in a year it will purchase 14 pesos, then the forecast is given in terms of an expected appreciation of the dollar relative to the peso.
An appreciation of a currency means that the value of the currency has increased in relation to another currency. In this case, if a dollar currently purchases 12.5 pesos and someone forecasts that in a year it will purchase 14 pesos, that means the value of the dollar is expected to increase relative to the peso. In other words, the forecast is saying that the dollar will be stronger compared to the peso in the future. This means that the dollar will be able to purchase more pesos than it currently can.
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figure shows cost and demand curves for a monopolistically competitive producer of iced tea. based on the diagram, one can conclude that a. some existing firms will exit the market. b. new firms will enter the market. c. the industry is in long-run equilibrium. d. firms achieve productive efficiency.
The answer is C - New firms will enter the market. because in the above shown .
What is productive efficiency?
When a market is optimized to produce maximum output from a fixed amount of resources, economists describe it as having productive efficiency.In a manufacturing company that produces workout clothing, unit costs will be calculated based on labor, materials, and machine hours required to produce each unit for each unique product.The output of productive efficiency occurs when a business in a given market or industry reaches the lowest point of its average cost curve implying an efficient use of scarce resources and a high level of factor productivity.Productive inefficiency occurs when a firm is not producing at its lowest unit cost. Unit cost is the average cost of production, which is found by dividing total costs of production by the number of units produced.
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Which of the following items are plant assets? (Check all that apply.) O Land held for investment O Equipment being used in operations O Equipment with no value O Building being used for operations
The plant assets are as follows:
(A) Equipment being used in operations.
(C) Building being used for operations.
What are plant assets?Capitalized plant assets include real estate, improvements to real estate, buildings, improvements to buildings, software, donated equipment, fixed equipment, moveable equipment, other assets, and other expenditures that fit the criteria.
Plant assets are included in the long-term assets category of the reporting entity's balance sheet under the property, plant, and equipment line item.
The asset's reported value may be offset by the line item's cumulative depreciation in the presentation.
Plant assets include buildings and equipment that are employed in operations.
A fixed asset is usually referred to as a plant asset.
Examples include equipment and machinery, real estate and buildings, furniture, computers, copyright, and automobiles.
Therefore, the plant assets are as follows:
(A) Equipment being used in operations.
(C) Building being used for operations.
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Correct question:
Which of the following items are plant assets? (Check all that apply.)
Multiple select questions.
a. Equipment being used in operations
b. Land held for investment
c. Building being used for operations
d. Equipment with no value
true/false. frequently, given the choice between investing in a nation with a lower gni/capita but a high growth rate, and a nation in which the conditions are reversed, management will choose the former.
True, Frequently, given the choice between investing in a nation with a lower Gross National Income (GNI) per capita but a high growth rate, and a nation in which the conditions are reversed, management will choose the former.
This is because a nation with a lower GNI per capita and a high growth rate are considered to have more potential for economic growth and profitability in the long term.
The high growth rate indicates that the economy of the country is expanding rapidly, which can lead to increased investment opportunities, increased demand for goods and services, and a growing market for businesses.
On the other hand, a nation with a higher GNI per capita but a low growth rate is considered to be more mature and developed, with fewer opportunities for economic growth and profitability.
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suppose that georgiania was a thriving empire in its golden age. business was booming and it was the center of international trade under the leadership of emperor raphael iii. his empire's pride and joy was the trading of green and black tea, and he decreed that their entire economy should be built around it. however, in the mid 1800s, georgiania experienced a severe economic downturn when the other nations of the world created an embargo on tea from georgiania, which led to civil strife due to thousands of workers being laid off.
The emperor and his advisors attempted to fix the situation by diversifying their economy. They opened up their ports to international trade, began to invest in new and innovative industries, and encouraged entrepreneurship.
What is economy?
Economy is the study of how individuals, businesses, governments and other organizations allocate resources to meet their needs. It examines how these entities produce, exchange, distribute and consume goods and services, and how these activities are affected by economic and political factors. It also investigates the impact of economic activities on people's livelihoods, including income, employment, wealth, poverty and inequality. It takes into account the factors that influence economic growth, such as technological change, capital accumulation, labor supply, and quality of resources.
They also developed infrastructure such as roads, bridges and railways to improve transportation and communication. These efforts began to bear fruit and the economy slowly began to recover. By the beginning of the 20th century, Georgiania was once again a prosperous nation.
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QUESTION WITH SAMPLE ANSWER: Copyright Infringement.
In which of the following situations would a court likely hold Ursula liable for copyright infringement?
(a) Ursula goes to the library and photocopies ten pages from a scholarly journal relating to a topic on which she is writing a term paper.
(b) Ursula makes blouses, dresses, and other clothes and sells them in her small shop. She advertises some of the outfits as Guest items, hoping that customers might mistakenly assume that they were made by Guess, the well-known clothing manufacturer.
(c) Ursula teaches Latin American history at a small university. She has a digital video recorder and frequently records television programs relating to Latin America and puts them on DVDs. She then takes the DVDs to her classroom so that her students can watch them.
Which of the following scenarios would most likely result in a judge finding Ursula responsible for copyright infringement Ursula visits the library and makes ten photocopies.
Is most likely correct?
Most likely denotes that this option is the most likely out of all the alternatives. For instance, it is more likely that he is the guilty party than not, and vice versa. Most of something being something that is likely and some of it being something that is unlikely. Likely is frequently referred to as an adjective that appears to be an adverb but is also one.
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Which of the following scenarios would most likely result in a judge finding Ursula responsible for copyright infringement Ursula visits the library and makes ten photocopies.
Is most likely correct?Most likely denotes that this option is the most likely out of all the alternatives. For instance, it is more likely that he is the guilty party than not, and vice versa. Most of something being something that is likely and some of it being something that is unlikely. Likely is frequently referred to as an adjective that appears to be an adverb but is also one.
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lassiter corp.'s cash balance in the accounting records is $80,000. When Lassiter receives the bank reconciliation, the following items were discovered. (outstanding checks $10,000; NSF checks $4,000; note collected by bank $3,000; deposits outstanding $5,000). What is the corrected cash account balance?
The corrected cash account balance is $79,000.
What is Account balance?An account balance is the sum of money held in a bank account at the start of the current accounting period. It is the sum of the balance carried over from the previous month and the net difference between the credits and debits that have been recorded during any given accounting cycle.
The amount due or the net debt may be shown in an account balance. The former is frequently depicted in financial accounts that include recurring bills, like those for utilities or gym memberships.
The latter, on the other hand, is reflected in accounts with negative cash balances, such as bank overdrafts. The unused fraction of the loan that is available on a credit account is referred to as available credit, whereas account balance is the indicator of the amount that is currently available on a credit account.
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which of the following forms of business may be classified as direct participation programs? general partnership limited partnership s corporation closely held c corporation
First option is correct. A Direct Participation Program (DPP) is a pooling entity that allows investors to access a company's cash flow and tax benefits.
A DPP, also known as a "Direct Participation Program", is a long-term, non-trading pool investment in a real estate or energy venture. A Direct Equity Program (DPP) provides investors with access to corporate cash flow and tax incentives.
Member buy-in is required for DPP to take advantage of program benefits. Most DPPs are real estate investment trusts (REITs) and limited partnerships. Understand the Direct Participation Program (DPP).
In most direct equity programs, a limited partner invests (shares are expressed in “units”) and a general partner invests. Most DPPs are passively managed and have a lifespan of 5-10 years. During this time, all tax credits and income from the DPP will pass to the partner. Although DPPs have become a popular way for average investors to access investments normally reserved for wealthy investors, due to the income they generate and their pooled nature. , there are some caveats.
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Match the term on the left with its definition on the right related to present and future value concepts.
1. Annuity
2. Interest
3. Future Value
4. Present Value
1. A series of equal payments occurring at equal intervals
2. A borrower's payment to the owner of an asset for its use
3. The value of present-day assets at a future date
4. The value of future-day assets today
1. A series of equal payments occurring at equal intervals
2. A borrower's payment to the owner of an asset for its use
3. The value of present-day assets at a future date
4. The value of future-day assets today
What is Annuity?
A contract between you and an insurance provider known as an annuity obligates the insurer to pay you payments either now or in the future. An annuity can be purchased with one payment or several installments.
An annuity is a series of regular payments made in the investment world. Regular contributions to a savings account, regular mortgage payments, regular insurance payments, and pension payments are all examples of annuities. The periodicity of payment dates can be used to categorize annuities.
A future sum of money or stream of cash flows' present value (PV), assuming a given rate of return, is their current value. Future value is converted to present value by using either a discount rate or the interest rate that would be earned if an investment were made.
1. A series of equal payments occurring at equal intervals
2. A borrower's payment to the owner of an asset for its use
3. The value of present-day assets at a future date
4. The value of future-day assets today
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a contractor entered into an agreement with a homeowner whereby the contractor would construct a fireplace in the homeowner's home for a fee of $5,000, with construction set to begin in july and to be finished by october 1. the contractor began the work promptly but soon found that the walls of the homeowner's home were built more solidly than expected, which was particularly unusual for homes in the homeowner's neighborhood. the contractor notified the homeowner immediately of the problem with the walls. the contractor told the homeowner that in order to
The contractor and homeowner have a valid contract, as the contractor notified the homeowner of the additional costs and the homeowner agreed to the revised fee.
What is contractor?
A contractor is someone who has the skills and expertise to carry out a specific job or service for a customer. Contractors, who are usually self-employed, are hired to complete specific tasks or projects that require specialized skills or knowledge. Contractors can work on either a short-term or long-term basis, and often have their own team of employees or subcontractors to carry out the work. When a contractor is hired, they are usually responsible for providing their own equipment and materials and for meeting any agreed-upon deadlines.
The contractor was also able to complete the job by the agreed-upon deadline, so all the terms of the contract have been fulfilled.
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Robert is a learning consultant and his role is to gather requirements from the clients, suggest a solution based on the requirements, and develop and deploy the suggested solution. He has been asked to conduct a knowledge-sharing session for fellow consultants on interviewing clients for relevant information.
Select one:
A.
He should practice some probable questions for the Q&A session.
B.
He should time the presentation.
C.
He should practice presenting the slides.
D.
He should ensure that the slides are not disjointed.
One thing that Robert needs to do is to C. He should practice presenting the slides.
Why should slides be practiced before presentations ?Many people who are practicing for a presentation might not know where to start. Get acquainted with the presentation to begin with. Flip through the slides, quickly review the speech outline, and examine any visuals you intend to utilize. You will start to feel more secure and prepared in your presentation if you know what slide or primary point is coming up next.
To deliver a presentation effectively, practice is necessary. By practicing, you may boost your self-assurance, make sure you are comfortable with the content, and improve your presentational abilities. It's crucial to practice both giving your speech and utilizing your visual aids.
Robert should therefore practice the presentation with the slides.
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which statements are true regarding mutual fund offerings? i selling group members are allowed to discount mutual fund shares on their own ii selling group members cannot discount mutual fund shares on their own iii selling group members are allowed to sell mutual fund shares for more than the public offering price iv selling group members cannot sell mutual fund shares for more than the public offering price
The statements which are true regarding the mutual fund offerings are, selling group members cannot sell the mutual fund shares for more than the Public Offering Price, and also the selling group members who cannot discount mutual fund shares on their own.
Mutual fund shares are said to be regulated by the Financial Industry Regulatory Authority (FINRA) to ensure that the Public Offering Prices of mutual funds are fair and consistent across all selling group members. Thus, this prevents any single selling group from undercutting.
However, this helps in order prevent any single selling group from undercutting others by offering prices that are lower than the market rate. By requiring all selling group members to adhere to the same POPs.
Hence, options B and D are correct.
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What can be learned from the journal EPA providing research funding to Colorado small businesses to develop technologies for wastewater reuse and microplastic identification?
The U.S. Environmental Protection Agency (EPA) has awarded two Colorado small businesses, Sporian Microsystems Inc. in Lafayette and J-Tech LLC in Lakewood,
What does the EPA (Environmental Protection Agency) do?The Environmental Protection Agency funds and carries out research, develops and enforces environmental legislation, and guards against serious health threats to people and the environment.The U.S. Environmental Protection Agency (EPA) has awarded two Colorado small businesses, Sporian Microsystems Inc. in Lafayette and J-Tech LLC in Lakewood, $100,000 each for the development of innovative environmental technology linked to the identification of microplastics and wastewater reuse.Following the science, the law, and being transparent are the three EPA principles that are renewed in the Plan, which also adds a fourth fundamental concept called advancing justice and equitable.To learn more about Environmental Protection Agency (EPA) refer to:
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As you move down the production possibility frontier, the absolute value of the marginal rate of
transformation
A) increases.
B) decreases.
C) initially increases, then decreases.
D) initially decreases, then increases
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation increases that is option A is correct.
Within business, it is often seen that some goods are used at once in the production of different goods. The different goods that are produced from the other goods are more productive and efficient than the goods that are used to produce them. Marginal Rate of Transformation is the term that is used to describe the number of units of a particular good that are used in the processing of one unit of a different good. When we use the Marginal rate of transformation then the other factors of production and the technology used in the production are kept constant. The marginal rate of transformation increases as we move down the production possibility frontier.
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Develop a summary of the mission and corporate culture of these two retailers (Walmart vs Target). Note a corporate culture reflects the core values, norms, and behaviors that reflect how it behaves toward employees, customers, and suppliers.
The mission statement outlines a company's business, goals, and strategy for achieving those goals. The vision statement defines the organization's desired future position.
What is Mission and Vision of a company ?The mission statement summarises a company's business, goals, and strategy for achieving those goals. The vision statement outlines the organization's desired future position.
The company's goals, ambitions, and values are frequently stated by combining elements from the mission and vision statements. Target's mission is to provide surprises, fun, convenience, and inspiration at every turn, regardless of when, where, or how you shop.
Joining Target entails promoting a climate of respect and caring for one another while working to have the most significant and beneficial impact. Helping all families experience the joy of everyday life is instilled in who we are; it is how the entire Target team cares, grows, and triumphs as a unit.
Walmart's mission is to make the world a better place by improving human welfare, regenerating the environment, and building flourishing, resilient communities. For us, this means working to improve communities, increase diversity, fairness, and inclusion, and build a more sustainable future.
At Walmart, culture is at the heart of everything we do. Culture is how we live out our ideals. It's how we provide excellent customer service, foster a positive work environment for our front-line employees, and improve performance in order to achieve our shared goal of helping people save money so they can live better lives.
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A certificate of deposit often charges a penalty for withdrawing funds before the maturity date. If the penalty involves three months of interest, what would be the amount for early withdrawal on a CD paying 7 percent and valued at $23.000? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Early withdrawal penalty
The amount for early withdrawal on a CD paying 7 per cent is $268.33
Rate of withdrawal = 7%
Value of Certificate of deposit = $23.000
Among the depositors and the approved bank or financial institution, a CD is an agreement. This arrangement is for a set amount of time and money to invest, and the financial institution will pay interest during that time.
Calculating the annual interest -
Annual interest = Annual interest rate × Investment
Substituting the values
= 0.07 × 23,000
= 1,610
Now as there is a penalty of two months of interest,
Therefore -
= (2 / 12) × Annual interest
= (2 / 12) × $3,780
= 3220/12
= 268.33
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u.s. gross domestic product (in contrast to gross national product) measures the production and income of. true or false
In contrast to gross national product, U.S. gross domestic product measures the output and income of people and businesses that are located within the country's borders.
What distinguishes the United States' gross domestic product (GDP) from its gross national product (GNP)?GDP counts the commodities and services that are generated inside a nation's borders by both domestic and international workers. The GNP only includes products made in the United States, both domestically and abroad.
Why is the gross domestic product different from the gross national product?Identify the differences between the GDP and the gross domestic product (GDP) (GNP). The value of all finished goods and services produced inside a nation's borders is estimated using the GDP statistic. The gross national product (GNP) is the total value of goods and services that a nation produces over time, both inside and outside of its boundaries (GNP).
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in the net advantage to leasing calculation, all cash flows (except salvage value) are discounted at the firm'
In the net advantage to leasing calculation, all cash flows (except salvage value) are discounted at the firm's after-tax marginal cost of borrowing.
A cash flow is a physical or virtual movement of money: in its most basic form, a cash flow is a payment (in a currency), often from one central bank account to another.
The phrase 'cash flow' is most commonly used to represent payments that are projected to occur in the future, are hence unknown, and must thus be forecasted using cash flows. However, it is common to use cash flow in a broader meaning to describe (symbolic) payments into or out of a firm, project, or financial instrument.
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ferris company began january with 8,000 units of its principal product. the cost of each unit is $7. merchandise transactions for the month of january are as follows: purchases date of purchase units unit cost* total cost jan. 10 6,000 $ 8 $ 48,000 jan. 18 8,000 9 72,000 totals 14,000 120,000 * includes purchase price and cost of freight. sales date of sale units jan. 5 4,000 jan. 12 2,000 jan. 20 5,000 total 11,000 11,000 units were on hand at the end of the month. problem 8-5 (algo) part 5 5. calculate january's ending inventory and cost of goods sold for the month using average cost, perpetual system. (round average cost per unit to 4 decimal places. enter sales with a negative sign.)
Ending inventory: 8,000 units x $7.75 per unit = $62,000
Cost of goods sold: 6,000 units x $7.75 per unit = $45,000
Sales: -11,000 units x $7.75 per unit = -$84,750
Step 1: Determine the total cost of products for sale in January:
Total cost of items for sale = 8,000 units times $7 unit cost + 14,000 units times $120,000 total cost = $1,020,000
Step 2: Determine the average cost per unit of products for sale in January:
The average cost per unit is $1,020,000 divided by 22,000 units, which is $46.36.
Step 3: Determine the price of products sold in January:
11,000 units x $46.36 average cost per unit = $511,960 cost of goods sold
Step 4: Determine the January ending inventory:
Ending inventory = 22,000 units minus 11,000 units equals 11,000 units.
Step 5: Determine the price of products sold in January:
11,000 units x $46.36 average cost per unit = $511,960 cost of goods sold
Step 6: Determine the cost of the Inventory will commence in January:
Starting inventory = 8,000 units x $7 per unit = $56,000
Step 7: Determine the cost
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the teacher/coach must maintain accurate and complete financial records and operate within established school district guidelines in terms of fund raising.TrueFalse
It is unquestionably true that the teacher or coach must keep thorough and accurate financial records, as well as follow any established fundraising regulations set forth by the school system.
You receive reports from the school detailing how your child is progressing academically and what the institution is doing to support him. You might be aware that you should retain a file of those records. However, did you realise that other documents, both formal and informal, are crucial to save for future use?
You may be able to spot trends and patterns over time if you keep track of all of your child's academic data. When discussing the tools your child needs to succeed in school, the records you keep can offer specifics and verification. What kinds of records should you preserve, and why?
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Carolyn imagines that if she leaves her employees unsupervised for even a few minutes, they will do nothing but slack off. She is known for the harsh criticism and punishment she disburses whenever an employee makes an error. Carolyn is a __________ manager.
Carolyn imagines that if she leaves her employees unsupervised for even a few minutes, they will do nothing but slack off. She is known for the harsh criticism and punishment she disburses whenever an employee makes an error. Carolyn is a Theory X manager.
Theory X managers frequently have a gloomy outlook on their workforce, assuming that they are naturally disengaged and disliking of their jobs.
People are frequently motivated using a "carrot and stick" strategy, which can lead to repetitious work in firms run in this way. To manage and "keep eyes" on employees, performance evaluations and compensation are frequently based on observable outcomes, like as sales numbers or product output.
According to this managerial approach, employees:
Dislike their jobs.Avoid taking on responsibility and require regular guidance.To perform, one must be threatened, coerced, and controlled.Every step needs to be closely watched.lack drive and motivation, thus they require prizes to motivate them to work toward their goals.To know more about Theory X:
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is your instructor a manager ?discuss in terms of the four functions of management.
Since he is in charge of providing the employees' training, the course instructor is a manager.
Briefing:-The objectives are carried out and the resources are managed by the course instructor. When it comes to planning, the course teacher establishes a goal and makes a strategy to reach it. He also assigns the program, the cost, and the time.
What do managers do in terms of roles, responsibilities, and abilities?The five fundamental management tasks of staffing, leading, managing, organizing, and planning are the skills that good managers learn to master. Planning entails outlining precisely how to carry out a specific objective. Say, for instance, that the corporation wants to increase sales.
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assume that three identical units are purchased separately on the following three dates and at the respective costs: june 1 at $10 june 2 at $15 july 4 at $20 the company sells two units during the period. conclude which inventory items are sold first and which unit remains in ending inventory if the company is using the lifo perpetual cost flow assumption. multiple choice question. the june 1 at $10 and the june 2 at $15 are both sold; the july 4 unit remains in ending inventory. the june 2 at $15 and the july 4 at $20 are both sold; the june 1 at $10 remains in ending inventory. the june 1 at $10 is sold; the june 2 at $15 and the july 4 at $20 remains in ending inventory.
The June 2 at $15 and the July 4 at $20 are both sold; the June at $10 remains in ending inventory.
What is the final inventory you have?
When an accounting period, such as your fiscal year, comes to a conclusion, your ending inventory is the entire amount of products you still have available for purchase.
It is a technique for inventory accounting that enables shops to accurately assess stock levels, benchmark net income, and secure financing.
What are starting and finishing inventories?
Beginning inventory, also known as opening inventory, is the value of your inventory at the beginning of an accounting period (typically a year or a quarter).
As a result, ending inventory, also known as closing inventory, is the amount of inventory on hand at the end of a certain accounting period.
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when paying by ebt, all items priced by weight are charged a 10% weight debit surcharge. if the final price is less than what you paid at checkout, we will refund the difference
When paying with SNAP and/or EBT Cash, a 10% weight debit surcharge is charged to items that are priced by weight.
What is surcharge?A surcharge is any additional fee, tax, or charge that is tacked onto the cost of a good or service above and above initial price that was provided. A surcharge, which is commonly added to an already-applied tax, is not included in the quoted price of the good or service. A surcharge may have a wide price range and be either a fixed amount or a percentage of A governing body may impose this tax to generate more revenue or pay for the cost of increasing commodity prices. They might also be based on a percentage of the total cost, which is typically a negligible portion of the expense. It is not taxed because the surcharge is only applied to the retail price.
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dentifying cash and non-operating assets is crucial when valuing a company. which of the following is considered cash and/or a non-operating asset? select all that apply.
Assets that are not essential to a company's day-to-day operations but nonetheless have the potential to generate revenue are referred to as non-operating assets.
which of the following is considered cash and/or a non-operating asset? select all that apply.
Non-operating assets are assets that are not considered to be part of a company's core operations.
Option C is correct.
Why is it necessary to distinguish between assets that are operating and those that are not?A common component of a company's resources are assets that are not in use. You can prepare for a successful business career by understanding the distinctions between operating assets and non-operating assets. Being familiar with these kinds of assets can also help you effectively conduct business analyses.
What is meant by the term "non-operating asset"?Assets that aren't part of a company's core operations are called non-operating assets. Land that is not being used, spare parts, investment securities, and other similar items are examples of non-operating assets. A company's non-operating income includes income from assets that are not in use.
Question incomplete:Identifying cash and non-operating assets is crucial when valuing a company. which of the following is considered cash and/or a non-operating asset? select all that apply.
A. expenses that are recorded in the income statement
B. financing the day-to-day operations of the company
C. Non-operating assets are assets that are not considered to be part of a company's core operations.
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XYZ Company made a mistake in counting its ending inventory. Determine which of the items below will be affected by this error. (Check all that apply.)
Multiple select question.
a. Revenues
b. Long-term assets
c. Net income
d. Current assets
e. Cost of goods sold
The items that will be affected by the mistake in counting the ending inventory are d. Current assets, e. Cost of goods sold and c. Net income.
d. Current assets: Ending inventory is a component of current assets on the balance sheet. If the ending inventory is overstated or understated, it will affect the total current assets amount.
e. Cost of goods sold: The cost of goods sold is calculated by subtracting the ending inventory from the beginning inventory, plus the cost of purchases. If the ending inventory is overstated, the cost of goods sold will be understated, and vice versa.
c. Net income: Net income is calculated by subtracting all expenses, including the cost of goods sold, from revenues. If the cost of goods sold is understated, net income will be overstated, and vice versa.
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As firms make greater use of empowerment and teams, managers will find that they : 1. should use the same techniques for directing employees that were used in the past. 2. will need to closely supervise the teams to make sure they remain focused on the goals of the organization. 3. will need to provide the teams with detailed instructions to give them a clear sense of direction. 4. must become more like coaches and counselors than bosses.
The correct answer is 4. must become more like coaches and counselors than bosses.
What is coaches?Coaches are individuals who help others to achieve their goals, often through teaching skills, providing feedback, and offering encouragement and support. They can specialize in a certain area such as sports, business, health and wellness, and lifestyle.
When a firm adopts empowerment and team structures, managers must move away from the traditional boss-employee dynamic. Instead, they must become more like coaches and counselors who provide guidance, support, and trust to their teams. They must also create an environment where each team member feels comfortable taking initiative and contributing their ideas. This requires managers to spend more time listening to and understanding team members, rather than simply giving orders.
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Dakota, inc. purchased raw materials worth $8,000 on account. the journal entry to record the purchase of raw materials on account is .
On account, Dakota, Inc. bought raw materials totaling $8,000. Debit Raw Materials Inventory, $8,000; credit Accounts Payable, $8,000 is the journal entry to reflect the purchase of raw materials on credit.
What significance does the raw material inventory have?The stock of components that a corporation has that have not yet been used in the creation of a finished good is referred to as its "raw materials inventory."
The raw material inventory lists the supplies that the company has produced or bought for use in manufacturing products. Of course, they are the essential conditions set forth by the business for the production process. Such components may be included in both direct and indirect products.
Is the raw material inventory negative or positive?On a balance sheet, raw materials are often recorded as an inventory asset. A debit is made to the accounts payable account and a credit is made to the raw materials inventory account when registering raw materials.
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