The balanced performance scorecard cautions corporate executives to examine strategy and performance from four interconnected viewpoints. Vision and strategy perspectives are not among these perspectives.
In the workplace, job performance is the postulated conception or requirements of a role. There are two forms of job performance: contextual and task. Task performance is determined by cognitive capacity, whereas contextual performance is determined by personality. Task performance is related to behavioral responsibilities that are identified in job descriptions and remuneration schemes. They are directly tied to organizational performance, but contextual performances are value-based and add new behavioral responsibilities that are not recognized in job descriptions and are not compensated; these are extra roles that are indirectly related to organizational performance. Citizenship performance, like contextual performance, refers to a set of individual activities/contributions (prosocial organizational behavior) that sustain organizational culture.
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A monopolistically competitive firm is currently producing 20 units of output. At this level of output the firm is charging a price equal to $20, has marginal revenue equal to $12, has marginal cost equal to $12, and has average total cost equal to $18. From this information we can infer that.
A monopolistically competitive firm is currently producing 20 units of output. At this level of output the firm is charging a price equal to $20, has marginal revenue equal to $12, has marginal cost equal to $12, and has average total cost equal to $18. From this information we can infer that the firm is currently maximizing its profit.
What products will the monopolistically competitive corporation offer, and at what cost?The company creates an output where marginal revenue and marginal cost are equal, and it sets its pricing in accordance with its demand curve. Any economic gains or losses will eventually be offset by entry or exit in monopolistic competition, leaving enterprises with no economic profit.
What factors does a company in monopolistic competition consider when deciding how much production to produce?Its output level that maximizes profits is chosen by the monopolistic rival. In this instance, the Authentic Chinese Pizza company will take its marginal revenues and marginal costs into account to estimate the quantity to create that will maximize profits.
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several years ago, cosmopolitan magazine introduced yogurt under the cosmopolitan brand name and it failed quickly. this innovation strategy is known as a
Yogurt sold under the Cosmopolitan brand name was first introduced by the magazine several years ago, but it quickly failed. Using a brand extension is referred to be an innovative approach.
Brand Extension: What is it?
When a business applies one of its well-known brand names to a new product or new product category, this is known as brand extension. Brand stretching is a term that occasionally appears. By utilizing its existing brand equity, brand extensions help businesses introduce new products.
The company relies on the brand loyalty of its current customers, who it hopes will be more open to trying new items from the same company. If it is successful, a brand extension can help a company expand its clientele, boost sales, and improve overall profit margins by helping it connect with new markets.
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suppose your property produces an annual noi of $50,000. you are looking at taking a mortgage loan with a 10-year term that is amortized over 30 years at a 6% interest rate. payments would be due monthly. what is the maximum loan amount you can take if the lender requires a minimum dcr of 1.25?
$555,972.04 is the maximum loan amount you can take if the lender requires a minimum dc of 1.25.
Debt Service Ratio = Annual NOI/Annual debt Service
1.25 = $50,000/Annual debt Service
Annual debt service = $40,000
- Monthly Loan payment = Annual debt Service/12 = $40,000/12
Monthly Loan payment = $3,333.3333
Calculating the maximum Loan amount using the PV of annuity formula:-
- [1 – (1+r)] PresentValue = C* = r
Where, C= Periodic Payments = $3,333.3333
r = Periodic Interest rate = 6%/12 = 0.5%
n= no of periods = 30 years*12 = 360
PresentValue = 3, 333.3333 * [1 – (1 +0.005)-560 – ( ] 0.005 =
1 – 0.16604192803 ) PresentValue = 3, 333.3333 * 0.005 =
Present Value = $555,972.04
So, the maximum Loan amount is $555,972.04.
A loan is a form of debt incurred by an individual or other reality. The lender — generally a pot, fiscal institution, or government — advances a sum of plutocrats to the borrower. In return, the borrower agrees to a certain set of terms including any finance charges, interest, prepayment date, and other conditions.
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_________ determines the point at which the cumulative dollar value of the benefits from a project equals the investment made in the project.
Breakeven analysis determines the point at which the cumulative dollar value of the benefits from a project equals the investment made in the project.
Describe break-even analysis using examples.Assume a company has $1 million in fixed costs and a 37% gross margin. $1 million divided by 0.37 results in $2.7 million as the break-even point. In the aforementioned example, the company needs to generate $2.7 million in revenue to meet its fixed and variable expenses. The business will make money if it boosts sales.
What makes it important?Small business owners are advised on how much product needs to be sold in order to be profitable by a calculation called a breakeven analysis. It helps entrepreneurs create a pricing strategy that will cover costs and generate a gross profit.
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a company purchases inventory or supplies and promises to pay within 30 to 45 days. no formal agreement is signed. this transaction is recorded as a(n)
The given transaction is recorded as accounts payable.
Accounts payable (AP), also known as "payables," is the term used to describe a business's current short-term obligations to its suppliers or creditors. A company's payables are listed as a current liability on its balance sheet.
Money owing by a corporation to its suppliers is reflected as a liability on the balance sheet and is known as accounts payable (AP). It differs from liabilities for notes payable, which are obligations made by formal legal instrument documents. The primary duties of an accounts payable department include processing and reviewing supplier transactions, as well as making sure that all unpaid invoices from suppliers are authorized, processed, and paid.
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Which type of general tax is an indirect tax levied on passive incomes like dividends and interest?.
The amount of income tax withheld by an employer from an employee's paycheck is known as withholding tax.
What is withholding tax ?The amount of income tax withheld by an employer from an employee's paycheck is known as withholding tax. Withholding taxes are paid by employers to the IRS on behalf of the employee. The amount collected is applied as a credit to the employee's yearly income tax liability.Tax withholding is income tax that is paid to the government by the payer of the income rather than by the recipient of the income. It is also referred to as tax retention, Pay-as-You-Go, Pay-as-You-Earn, or a Prélèvement à la source. Thus, the tax is either withheld from or subtracted from the recipient's due income.In many jurisdictions, taxes must also be withheld from dividend and interest payments. If the beneficiary of the income is a resident of a different jurisdiction, there may be additional tax withholding duties in most jurisdictions.To learn more about withholding tax refer :
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duval company issues four-year bonds with a $100,000 par value on january 1, 2021, at a price of $95,952. the annual contract rate is 7%, and interest is paid semiannually on june 30 and december 31. 1. prepare a straight-line amortization table for these bonds.
Journal entries for the initial two interest payments are as follows Amortization of discounts $506 ,Interest expense is $4,006.
How to prepare Journal entries?Journal entries for the initial two interest payments are as follows
January 1, 2021:
Charge for Interest: $4,006
credit $3,500 in cash
Credit Discount Amortization $506
in order to note the initial interest payment.
The end of 2021:
Charge for Interest: $4,006
credit $3,500 in cash
Credit Discount Amortization $506
the second interest payment to be recorded.
31st of December 2022:
Debit Bonds with a $100k Payout
Cash Credit $100,000
to document the bond's maturity payment.
a) Information and computations
Bonds' face value is $100,000.
Bond cost equals $95,952
Discounted amount = $4,048
Bonds' term is four years.
Discount rate is 7%.
Discount amortization on a semi-annual basis equals $506 ($4,048/8).
January 1:
(100,000 * 3.5%) Equals $3,500 as a cash payout.
$506 in discounts amortized
Interest costs come to $4,006.
31st December:
(100,000 * 3.5%) Equals $3,500 as a cash payout.
Amortization of discounts $506
Interest expense = $4,006
Amortization of discounts $506
Interest expense = $4,006
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the marketing manager would like to introduce sales commissions as an incentive for the sales staff. the marketing manager has proposed a commission of $11 per unit. in exchange, the sales staff would accept a decrease in their salaries of $65,000 per month. (this is the company's savings for the entire sales staff.) the marketing manager predicts that introducing this sales incentive would increase monthly sales by 300 units. what should be the overall effect on the company's monthly net operating income of this change?
The marketing manager has proposed a commission of $11 per unit. in exchange, The overall effect on the company's monthly net operating income of this change is $40,960.
New contribution margin ($154 - $11)=143
New unit monthly sales (9,800 + 320)=10,120
New total contribution margin (10,120 units * 143 per unit)= 1,447,160
Present total contribution margin (9,800 units * 154 per unit)=1,509,200
Changes in total contribution margin=(62,040)
Plus Savings in sales person's salaries= 103,000
Change in net operating income $40,960.
Marketing is the activity, set of institutions, and processes that create, communicate, deliver and exchange services of value to customers, customers, partners, and society as a whole. In short, it is an action taken to draw attention to the company's services; it can be physical goods for sale or services provided.
Common examples of marketing in the workplace include television commercials, roadside billboards, and magazine ads. The importance of marketing for your business is to make your customers aware of your product or service, engage them, and help them make a purchasing decision.
Additionally, a marketing plan, part of your business plan, helps create and maintain demand, relevance, reputation, competition, and more.
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grant enjoys investing in older, single-family homes with status that also offer a tax credit of as much as 20% to offset any necessary renovation expenses. what type of investment opportunity does this describe?
The type of investment opportunity does this describe is Conversion investment opportunity.
When you choose between two or more possibilities, you incur an opportunity cost, which is the cost of what you lose. Regardless of what you stand to lose by choosing, you believe that the decision will benefit you more in the long run.
Your investing decisions will always result in immediate and long-term losses or gains, according to the concept of opportunity cost. Take the decision to sell stock shares now or to keep them and sell them later as an example. It's true that an investor could sell their stock right away and lock in any gains they might have, but they would forfeit any potential future gains.
Choosing between going to work and choosing to go to a movie is a straightforward example of opportunity cost.
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if jack were to have shared the secret recipes with friends during his ownership of the restaurant, could he still claim that they are trade secrets?
No, once the secret recipes are divulged to a third party, it is no longer a trade secret. Hence, the correct answer is Option D.
Since the recipe is divulged, it can't be a trade secret. Assuming that Sophia has invented the recipes during the course of her duty and uses the resources of the restaurant, Jack (strictly speaking the restaurant) becomes the owner of the trade secret. Hence Jack would own any intellectual property rights in the recipes since it was at his restaurant. If there is trade secret protection for the recipes, the protection would last forever, as long as the recipes are not revealed to others.
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one way in which a homeowner can set aside funds for future real estate taxes and property insurance premiums is to make regular payments into
One way in which a homeowner can set aside funds for future real estate taxes and property insurance premiums is to make regular payments into an impound account set up by the lender.
Your mortgage lender creates an escrow account, often known as an impound account depending on where you live, to cover specific property-related costs.
An amount from your monthly mortgage payment is used to fund the account. Because you send money through your lender or servicer each month rather than having to pay a sizable bill once or twice a year, an escrow account makes it easier for you to cover these costs.
To ensure that the bill is paid, many lenders demand that you pay your taxes and insurance through escrow. The escrow account will be handled by your mortgage servicer, who will also pay these bills on your behalf. Escrow accounts can occasionally be mandated by law.
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whitman incorporated has a direct labor standard of 2 hours per unit of output and a standard wage rate of $22.50 per hour. during july, whitman paid $94,572 to employees for 4,440 hours worked, and 2,350 units were produced during that time. what is the direct labor rate variance? brainly
If whitman incorporated has a direct labor standard of 2 hours per unit of output. the direct labor rate variance is: $5,328 favorable.
How to find the direct labor rate variance?Using this formula to the direct labor rate variance
Direct Labor Rate Variance = (SR ×AH) – (AH× AR)
Where:
Standard Rate (SR) =$22.50 per hour
Actual Hour (AH) =4,440 hours
Let plug in the formula
Direct Labor Rate Variance = ($22.50× 4,440 ) – (4,440×$94,572 / 4,440 )
Direct Labor Rate Variance = $99,900 – $94,572
Direct Labor Rate Variance = $5,328 favorable
Therefore the direct labor rate variance is $5,328 favorable.
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when companies use a perpetual inventory system, the recording of the purchase of inventory will include a debit to purchases. true false
A perpetual inventory system is a system for tracking and recording stock levels in which every purchase and sale of stock is automatically and instantly logged.
What is a perpetual inventory system?
Perpetual inventory is an accounting method that uses computerized point-of-sale systems to continuously record inventory changes in real time, eliminating the need for physical inventory checks.
It provides a highly detailed view of inventory changes, with immediate reporting of inventory in stock, and accurately reflects the level of goods on hand.
A company makes no effort to keep detailed inventory records of products on hand in this system; rather, purchases of goods are recorded as a debit to the inventory database. In practice, the cost of goods sold includes direct labor and material costs, as well as direct factory overhead costs.
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the striking employees at williams restaurant supply were told that the worksite would be closed and they would not be allowed to return to work. replacement workers would be used to fill their positions. what type of management tactic was the company using? multiple choice question.
The kind of management tactic the company uses is called communication. With communication, we can solve our problems, as clearly. We can solve this problem with discussion until all the element in this employees agree and feel that what has been considered is fair to all of them.
Tactical management can be described as an appropriate course of behavior to achieve a strategic plan or objective. Tactical management contains the set of everyday operations that guide long-approach approach delivery. It may also contain danger control, everyday meetings, struggle resolution, and problem-solving. Tactics also can say as reply or steps this is taken to perform your approach. Tactical making plans is a kind of making plans that entails breaking down a lengthy-time period strategic plan into smaller and greater awesome short-time period plans. Companies and groups regularly use this form of the plan after they have lengthy-time period desires that increase in addition to 3 years.
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which of the following would help a group achieve its goal? a. collaboration b. competition c. individual leadership d. emphasis on individualism
Collaboration would help a group achieve its goal .
How does collaboration help people reach their goals?
In order to achieve common objectives, collaboration enables organizations to bring together individuals with various experiences, knowledge, and talents. It offers a variety of advantages, such as combining talents, organizing significant initiatives, or developing new products.Why is group collaboration so crucial?
It fosters trust. Individuals naturally develop a greater sense of trust for one another as teams and departments connect. This improves morale throughout the entire company in addition to improving team productivity. Teams cannot interact without trust, and if teams cannot work together, innovation will not take place..Learn more about collaboration
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an activity that delivers value to external customers is a: group of answer choices system. supply chain. support process. core process.
An activity that delivers value to external customers is a core process.
The core process is related to quality management in a company. It is crucial for strategies for the orientation of the company. Core processes involve various processes like customer satisfaction, value creation, customer relevance, and customer support which contributes to the success of the company.
These core processes are developed to improve the competitive performance of the businesses in the market. The requirement and processes of the business are dependent on the competitive strategy followed by the company.
These requirements and processes are handled by the core process which facilitates hassle-free communication among the departments of the company.
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If the required reserve ratio is 10 percent, currency in circulation is $1,200 billion, checkable deposits are $1,600 billion, and excess reserves total $2,500 billion, then the m1 money multiplier is.
The required reserve ratio can be calculated by using the equation as follows:
Excess reserve ratio = Excess reserve/Checkable deposit
2500/1600
=1.5625
Therefore, the excess reserve ratio is 1.5625.
The money multiplayer can be calculated by using the equation (1) as follows:
1+ currency ratio
Money multiplayer =
Excess reserve ratio + Currency ratio +Required reserve ratio
1+0.75
1.5625+0.75 +0.1
= 0.7253
Thus, the money multiplayer is 0.7253.
Bank loans or invests its extra reserves to earn greater hobby. A one-greenback increase in the monetary base reasons the cash delivery to grow by using more than one greenback. The boom within the money supply is the money multiplayer.
The cash multiplier is essential in macroeconomics because it determines the money supply, which impacts interest prices. It is also crucial in banking as it impacts financial policy and the stability of the banking region.
The money multiplier tells you the maximum amount the cash supply ought to increase based on an increase in reserves in the banking machine. The component for the cash multiplier is simply 1/r, in which r = the reserve ratio.
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a company factored $44,000 of its accounts receivable and was charged a 1% factoring fee. the journal entry to record this transaction would include a
The journal entry to record this transaction would include a Debit to Cash of $43,650 ($44,000 - $440), a Debit to Factoring Fee Expense of $1,350, and a Credit to Account Receivable of $45,000.
Any transaction, whether or not it is related to money, can be documented by a journal entry. Transactions are recorded in an accounting journal that shows the debit and credit balances of a company. The journal entry may contain many recordings, each of which is either a debit or a credit.
According to the logic underlying a journal entry, every business transaction should be documented in at least two locations (known as double-entry accounting). A journal entry frequently has supporting documents attached, is printed, and is preserved in a binder of accounting transactions.
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due to some of the 11,000 trade regulations that specify how goods are to be made and marketed, japanese car safety rules effectively require all automobile replacement parts to be japanese. rules like these often function as multiple choice universal codes. binding requirements. trade barriers. targets for bribery. economic infrastructure.
In addition to about 11,000 other trade regulations that specify how goods are to be made and marketed, Japanese car safety rules effectively require all automobile replacement parts to be Japanese. Rules like these often function as trade barriers.
Trade barriers are authorities-induced regulations on international change. in keeping with the idea of comparative advantage, exchange barriers are adverse to the sector's financial system and decrease average economic efficiency.
TANC classifies foreign alternate limitations within 4 wide sorts: Border obstacles, Technical boundaries to change, government affect obstacles and enterprise environment barriers.
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most independent craftspeople flourished in the economic environment promoted by the new capitalist class. true false question. true false
Most independent craftspeople flourished in the economic environment promoted by the new capitalist class False.
Which scientific developments fueled the expansion of American journalism in the 1840s?The telegraph's invention in the late 1840s accelerated news reporting and dissemination; the Associated Press was established in 1849 to make use of the new technology.
What factors led to the decline of commercial capitalism in the middle of the 1800s?In the 1840s, merchant capitalists continued to play significant roles in places like New York, Philadelphia, and Boston. However, merchant capitalism was in decline overall, largely due to the fact that manufacturing offered more lucrative chances for profit.
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on january 1, 2024, a company acquired land for $6.6 million. the company paid $1.4 million in cash and signed a 7% note requiring the company to pay the remaining $5.2 million plus interest on december 31, 2025. an interest rate of 7% properly reflects the time value of money for this type of loan agreement. what amount of interest expense, if any, would the company record on december 31, 2024 (one year later)? multiple choice $182,000 $364,000 $0 $728,000
The interest expense that the company would record on december 31, 2024 (one year later) is $364.000. Therefore, the answer is B (or the second multiple choice answer).
What is interest expense?It is the cost incurred by an entity for borrowed funds. Interest expense is a non operating expense shown on the income statement. It represents interest payable on any borrowings - bonds, loans, convertible debt or lines of credit. It is essentially calculated as the interest rate times the outstanding principal amount of the debt.
How to calculate the interest expense that the company would record?
The land original cost price is $6.6 million ($1.4 million as down payment in cash, and $5.2 million is payable after 2 years with 7% interest)
The interest payment will be recognized as finance cost
Interest cost at december 31, 2024 (one year later) would be
= $5.200.000 * 7% * 1 year
= $364.000
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deregulation or removal/reduction of government regulations to allow industries to operate businesses more freely and remove corporate restrictions leads to which drawback? g
It leads to the lack of financial-costly Deregulation, firms will be forced to compete more fiercely, especially with overseas corporations.
Deregulation, the repeal or modification of laws, or other businesses control requirements. Deregulation frequently takes the form of completely getting rid of regulations or changing them to make them less impactful. Only by legislation, the President giving an executive order, or a federal agency ceasing to enforce the rule can an industry be deregulation.
Advantages of Deregulation
Because there are fewer barriers for new enterprises to enter the market, there is more competition, which boosts economic activity.
As businesses compete with one another, increased market rivalry boosts innovation and accelerates market growth. Prices for customers decrease when more businesses engage in competition.
Companies are no longer required to use cash and resources to meet deregulation and abide by rules. They can then utilize the funds to fund research and development. Without worrying about limitations or rules governing them, businesses can operate. They are unrestricted in their ability to create new products, set their own prices, enter new markets, acquire new assets, and engage with customers.
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what happened to the dollar following the announcement by the group of five that it would be desirable for most major currencies to appreciate via the u.s. dollar?
The dollar became even stronger in foreign exchange markets due to the appreciation of the Group of Five.
An exchange market is a composition of systems, institutions, tactics, social family members or infrastructures whereby events interact in trade. even as events may additionally trade goods and offerings with the aid of barter, maximum markets rely upon dealers providing their items or services to buyers in trade for money.
A marketplace is a place in which buyers and sellers can meet to facilitate the exchange or transaction of goods and offerings. Markets may be physical like a retail outlet, or virtual like an e-store.
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required amount needed frequency of payment length of time interest rate payment amount end of each period $40,000 quarterly 7 years 8% ?
The periodic payment should be $1,079.59 to get the required amount.
Sinking funds accumulate money by making regular payments, and interest will keep adding up until the fund matures. As a result, it is an annuity idea.
Required amount (A) = $40,000
Time (n) = 7 years
Interest rate (i) = 8% or 0.08 (Assume it annually)
No. of payments in a year = 4 (Quarterly)
The required amount is given
Hence, the formula of FV of the annuity will apply
Let R be the payment required at the end
Computation of R:-
A = R*{(1+i/4)^n*4-1/(i/4)}
40000 = R*{(1+0.08/4)^7*4-1/(0.08/4)}
40000 = R*{(1+0.02)^28-1/(0.02)
40000 = R*{(1.02)^28-1/(0.02)
40000 = R*37.051
R = $1079.59
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when apple first introduced the iphone, some consumers were willing to pay the premium $599 price tag. what pricing strategy was apple using?
Some customers were prepared to pay the $599 price tag when Apple first released the iPhone. Apple employed a Price Skimming tactic and eventually reduced the price.
Price skimming: what is it?Skimming is a pricing technique that involves setting initial product prices high and then lowering them as competitors enter the market. Skim pricing is the reverse of penetration pricing, which sets low initial rates for newly launched products in an effort to attract a large consumer base.
During the first launch phase, electronic products, like the Apple iPhone, frequently employ a price-skimming technique. After rival goods, like as the Samsung Galaxy, are introduced by competitors, the price of the product drops to maintain its competitive advantage.
What is price skimming's key advantage?Price skimming generates greater initial sales figures to pay R&D expenses. By holding onto interest for a longer period of time, you may see better returns on your investment. At each price point, you can segment your consumer base using various marketing techniques.
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_________ measures management effectiveness in generating profits with its available assets by dividing the net income generated by a project by the average assets invested in the project.
Breakeven evaluation. Using a business case strategy
What is a performance that breaks even?The break-even point is the amount of revenue required to cover all of your fixed and variable expenses. Consequently, that turnover is the point at which you start to turn a profit. As long as you are below that threshold, you are losing. Assume a company has $1 million in fixed costs and a 37% gross margin. $1 million divided by 0.37 results in $2.7 million as the break-even point. In the aforementioned example, the company needs to generate $2.7 million in revenue to meet its fixed and variable expenses. The business will make money if it boosts sales. Small business owners are advised on how much product has to be sold in order to be profitable using a calculation called a breakeven analysis. It assists entrepreneurs in creating a
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a form of compensation whereby the employee receives a predetermined amount of benefit dollars to spend on a benefits package he or she has selected to meet individual needs is called a(n)
A flexible benefits plan is a type of pay wherein the employee receives a predetermined amount of benefit dollars to spend on a benefits package they have chosen to suit their particular needs.
What exactly is a flexible benefits plan?Employers can control their costs while providing health coverage that is appropriate for their employees' requirements by offering flexible benefits. You decide how many credits your employees should have access to in order to purchase their benefits coverage.
Employees can choose the level of coverage they require, whether it's the entire package or only the parts that apply to them specifically. Any unused credits may be carried over to the following plan year or a Health Spending Account by the employee. Flexible benefit plans provide employees with more options when it comes to their benefits and give companies the chance to:
By specifying the money to be spent, they may control their costs.Increasing employee understanding of benefit costsEncourage staff to exercise more caution when making purchases for medical services.Learn more about flexible benefits plans with the help of the given link:
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price of labor is affected by the marginal product of labor
The price of labor is said to be affected by the marginal product of labor. As the marginal product of labor tends to take into account the marginal value of each additional product.
The marginal product of labor is considered to be the change in output wherein the additional labor is said to be added, such as when an additional employee is hired. So, it is quite important in order to point out that all other factors remain constant.
However, the price of labor is said to be affected by the marginal product of the labor. Thus, as the marginal product of labor tends to take into account the marginal value of the each additional product.
Hence, the marginal product of labor is a company's total output which increases when it adds a single labor unit.
The given question is incomplete, so the complete question is here-
How is the price of labor affected by the marginal product of labor?
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a key change in the order delivery component of the order cycle is that more and more shippers are emphasizing both the elapsed transit time and transit time variability. true false
It's true that a major change inside the order delivery portion of the ordering process is the increasing emphasis placed by shippers on both the total transit time and the variance in that time.
How much transit time is there?Distance, transportation method, route, and season all have an affect on how quickly freight is transported. Express delivery can take as short as 1-3 days, air cargo normally takes 5-ten days, and sea shipment can take anywhere between 20 and 45 days or longer.
How is travel time calculated?When utilizing the default logic of the Premier Order Management Software, the transit time is determined as follows: A set unit shipping time + (the range between the ship-to and shipping locations/the average distance per day). The two zip codes included in the calculation's longitude and latitude are used to determine the distance.
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phillip company uses activity-based costing. phillip company produces two types of lamps, floor lamps and table lamps. the floor lamp requires 15 setup activities at $60 per setup and 5 design modification activities at $50 per design. if phillip company produces 1,200 floor lamps, what is the total overhead cost per floor lamp? round your answer to two decimal places.
The total overhead cost per floor lamp will be equal to $0.96.
Activity-based costing may be defined as the method of assigning the extra costs on an item. The extra costs will be the overhead cost and all the indirect costs. The indirect costs include the salaries and the utility cost and is assigned to the products and services. According to the question
Floor lamp requires 15 setups at $60 per setup, so the cost will be
Cost 1 = 15 × $60
Cost 1 = $900
And 5 design modification at $50 per design, so the cost will be
Cost 2 = 5 × $50
Cost 2 = $250
Total number of floor lamps by Philip company = 1200
Total overhead cost = Cost 1 + Cost 2
Total overhead cost = $1150
Total overhead cost per floor lamp = Total overhead cost ÷ Total number of lamps
Total overhead cost per floor lamp = $1150/1200
Total overhead cost per floor lamp = $0.96
Learn more about Activity-based costing at:
brainly.com/question/27907473
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