"WIP inventories are associated with manufacturing," is correct. WIP (Work-in-Progress) inventories are a type of inventory that represents the raw materials, partially completed goods, and finished goods that are in the production process but have not yet been completed. Therefore, they are directly associated with the manufacturing process.
Option b is correct.
Option a, "WIP inventories are not included on the balance sheet," is also correct. WIP inventories are considered an intermediate stage of the production process and are not yet ready for sale. Therefore, they are not included on the balance sheet.
Option c, "WIP inventories are not impacted by EOQ," is incorrect. EOQ (Economic Order Quantity) is a model used to determine the optimal order quantity that minimizes the total inventory costs. WIP inventories may be impacted by EOQ as it can help to determine the most efficient production level and minimize inventory carrying costs.
Option d, "WIP inventories are the same as VMI inventories," is incorrect. VMI (Vendor Managed Inventory) is a system where the vendor manages the inventory levels for a customer. It is not the same as WIP inventories, which are managed by the manufacturer during the production process.
Therefore, option (b) will be correct.
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an innovation stream moves from one technology cycle to another through the process of ____.
An innovation stream moves from one technology cycle to another through the process of "technological discontinuities."
Technological discontinuities refer to significant changes in the dominant design or architecture of a technology, which can fundamentally alter its performance, cost structure, and user experience.
These changes can create new opportunities for innovation and market disruption, as well as challenges for established players who may struggle to adapt to the new paradigm.
There are three types of technological discontinuities: incremental, radical, and disruptive. Incremental discontinuities involve minor improvements to existing technology, such as faster processors or better materials. Radical discontinuities involve significant changes to the design or architecture of a technology, such as the shift from vacuum tubes to transistors in electronics.
Disruptive discontinuities involve a new technology that initially performs worse than the existing technology but eventually surpasses it, such as digital cameras replacing film cameras.
As the innovation stream moves through these different types of discontinuities, it creates opportunities for new entrants and shifts in market leadership. Successful companies are those that are able to anticipate and adapt to these changes, rather than clinging to the past.
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true or false: all accountants agree that the lower of cost or net realizable value rule should apply to total inventory.
False. Not all accountants agree that the lower of cost or net realizable value (LCNRV) rule should apply to total inventory.
The LCNRV rule is an accounting method used to value inventory at the lower of its original cost or its net realizable value (the estimated selling price minus any costs to complete and dispose of the inventory). While the LCNRV rule is widely adopted and supported by many accountants, it is not universally agreed upon.
Some argue that it introduces subjectivity in determining the net realizable value, and this subjectivity can result in inconsistent financial reporting across companies. Others believe that alternative methods, such as the First-In, First-Out (FIFO) or the Last-In, First-Out (LIFO) methods, provide a better representation of the inventory's value and the company's financial performance.
In conclusion, while the lower of cost or net realizable value rule is a commonly used method for valuing inventory, it is not unanimously supported by all accountants. There are alternative methods that some professionals believe provide a more accurate representation of a company's inventory value and financial performance.
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Which of the following is a major concern of managers (as opposed to leaders)?
a. maintaining the status quo
b. inspiring and motivating others
c. taking a long-term view
d. promoting change
e. organizational improvements
Maintaining the status quo is a major concern of managers as opposed to leaders. Managers are responsible for the day-to-day operations of an organization and their main focus is to ensure that things are running smoothly and efficiently.
They are concerned with keeping the organization on track and making sure that goals are met. This means that they are less likely to take risks and promote change, as this could disrupt the current operations of the organization.
Leaders, on the other hand, are focused on inspiring and motivating others, taking a long-term view, and promoting change and organizational improvements. They are more concerned with the bigger picture and are willing to take risks in order to achieve their goals.
While both managers and leaders are important for the success of an organization, their focus and concerns differ depending on their role within the organization.
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When the price for Blu-ray players dropped, the demand for DVD players went down, so DVD players and Blu-ray players are
a complementary products.
b outsourced products.
c substitute products.
d interchangeable products.
e superior products.
When the price for Blu-ray players dropped, the demand for DVD players went down, so DVD players and Blu-ray players are c) substitute products.
This is because when the price of Blu-ray players decreased, consumers shifted their demand from DVD players to Blu-ray players, indicating that these two products can be substituted for each other.
The term "complementary products" refers to products that are typically used together, such as cameras and memory cards, while "outsourced products" refers to products that are produced by another company or outsourced to another country for production.
"Interchangeable products" means that two products can be used in place of each other without any significant difference, and "superior products" refers to products that are of higher quality than others in their category.
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the day-to-day operation of the franchise business normally is under the control of the franchisor.
T/F
In a franchise agreement, the franchisor provides the franchisee with a proven business model, trademark, support, and training. In return, the franchisee agrees to operate the business according to the franchisor's standards and pay ongoing fees. The statement is False.
The franchisor usually provides detailed operating manuals that outline the steps the franchisee needs to take to run the business. The manuals cover everything from hiring and training employees, managing inventory, marketing the business, and more. The franchisor may also provide ongoing training and support to ensure that the franchisee is operating the business correctly.
The franchisor also sets guidelines for the quality of the products or services provided by the franchisee. The franchisor will typically provide the franchisee with the necessary equipment and supplies to maintain these standards. The franchisor may also require the franchisee to purchase supplies and inventory from approved suppliers.
In summary, while the franchisee is responsible for the day-to-day operations of the business, the franchisor maintains control over the overall brand, business model, and quality standards. This arrangement benefits both parties, as the franchisee gains access to an established business model and brand, while the franchisor expands its business without having to take on all the risks associated with opening new locations.
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which of the following explains a loss-leader pricing strategy the best? a pricing method where the price the seller charges is below the actual cost to make the product. setting a low initial price and gradually but consistently increasing that price so as not to antagonize the consumer. deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well. a method of pricing based on a product's tradition, standardized channel of distribution, or other competitive factors. pricing a product between 8 and 10 percent lower than nationally branded competitive products.
A loss-leader pricing strategy is a marketing technique where a company sells a product below its actual cost in order to attract customers and increase sales of other products. This strategy is typically used to increase foot traffic to a store or website, and is often employed by retailers during promotional periods, such as holidays or special events.
Out of the given options, the one that explains a loss-leader pricing strategy the best is "deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well." This option highlights the purpose of the loss-leader pricing strategy, which is to draw customers in with a low-priced item and then entice them to purchase other, higher-margin products.The other options do not accurately describe a loss-leader pricing strategy. The pricing method where the price charged is below the actual cost to make the product is not sustainable and would lead to financial losses for the company. Setting a low initial price and gradually increasing it is not a loss-leader pricing strategy, but rather a pricing strategy aimed at gradually increasing profits. The method of pricing based on a product's tradition, standardized channel of distribution, or other competitive factors does not relate to a loss-leader pricing strategy. Finally, pricing a product between 8 and 10 percent lower than nationally branded competitive products may be a competitive pricing strategy, but it is not necessarily a loss-leader pricing strategy.
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a+$1,000+par+value+bond+with+a+fixed+10%+rate+of+interest+pays+coupons+semiannually.+what+amount+will+the+bondholder+receive+on+the+bond’s+maturity+date?
The bondholder will receive $1,050 on the bond's maturity date,
To calculate this, first, we need to find the semiannual interest payment. The formula for calculating interest is:
Interest Payment = (Par Value x Interest Rate) / Number of Payments per Year
For this bond, the interest payment would be:
Interest Payment = ($1,000 x 10%) / 2
Interest Payment = $100 / 2
Interest Payment = $50
On the bond's maturity date, the bondholder will receive the final interest payment plus the par value of the bond. So, the total amount received will be:
Total Amount = Par Value + Final Interest Payment
Total Amount = $1,000 + $50
Total Amount = $1,050
In conclusion, the bondholder will receive $1,050 on the bond's maturity date.
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an auditing function monitors and keeps a record of user accesses to system resources.
T/F
The best option is True. an auditing function plays a crucial role in monitoring and maintaining a record of user accesses to system resources. This process helps organizations ensure that their IT systems remain secure, efficient, and in compliance with regulatory requirements.
By keeping track of who accesses what resources and when, the auditing function enables administrators to identify potential security breaches, unauthorized access, or misuse of system resources. This information can then be used to take corrective actions or improve security measures. Additionally, auditing allows for a better understanding of how users interact with the system, which can help in optimizing resource allocation and enhancing system performance.
In summary, the auditing function is essential for maintaining the security and efficiency of IT systems by monitoring and recording user access to system resources. This practice not only helps in identifying potential issues but also supports organizations in staying compliant with regulations and improving overall system performance.
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suppose the fed carries out an open market purchase and credits the account of a bank by $160,000. further suppose that the reserve ratio (rr) is 10%. by how much is the money supply expected to change?
The money supply is expected to change by $1,600,000 when the Fed carries out an open market purchase and credits the account of a bank by $160,000.
We are given that the Fed carries out an open market purchase and credits the account of a bank by $160,000 and the reserve ratio (rr) is 10%.
Thus, the Excess Reserves = $160,000.
Total Reserves = Excess Reserves + Required Reserves
Required Reserves = rr x Deposits
Since we are not given the amount of deposits, we assume that it is equal to the amount of the excess reserves, which is $160,000.
Thus, Required Reserves = 0.1 x $160,000 = $16,000.
Total Reserves = $160,000 + $16,000 = $176,000.
Now, we can calculate the maximum amount of money that can be created by banks using the money multiplier formula:
Max Money Creation = (1/rr) x Excess Reserves= (1/0.1) x $160,000= $1,600,000
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insurance policies are offered on a "take it or leave it" basis, which make them
The answer is: Standard-form contracts. Insurance policies are standard-form contracts offered on a "take it or leave it" basis, limiting negotiation or customization.
The terms are predetermined by the insurance company, giving policyholders little room to modify the contract.
Insurance policies are standard-form contracts, meaning that they are offered on a "take it or leave it" basis, with little room for negotiation or customization by the insured party. These contracts are typically created by the insurance company and contain pre-drafted provisions that outline the terms and conditions of the policy, including coverage limits, exclusions, and deductibles. As a result, the insured party has limited bargaining power and must accept the terms of the contract as presented or seek insurance from another provider that offers more favorable terms.
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global and multidomestic companies such as shell and burger king expand internationally to: group of answer choices learn about host governments sway government policies and create job. reach new customers and gain higher profits. learn about new markets and cultures
That global and multidomestic companies such as Shell and Burger King expand internationally to reach new customers and gain higher profits.
By expanding their operations across borders, these companies can access new markets, diversify their customer base, and tap into the growth potential of different regions. This expansion helps them increase their revenue and profits, while also spreading their brand awareness.
Summary: Global and multidomestic companies like Shell and Burger King pursue international expansion primarily to reach new customers, generate higher profits, and grow their businesses.
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a pictogram is used to track progress toward completion of a six-month construction project. TRUE OR FALSE?
The statement "a pictogram is used to track progress toward completion of a six-month construction project" could be either true or false, as it depends on the specific project and the methods being used to track progress.
In general, pictograms can be useful tools for tracking progress, particularly in visualizing complex data in a simple and easy-to-understand way.
Pictograms are often used in project management to represent progress toward goals or milestones, and can be particularly effective for communicating this information to stakeholders who may not be familiar with the technical details of the project.
However, whether a pictogram is specifically being used to track progress toward completion of a six-month construction project would depend on the specific project and the methods being used to track progress.
Other methods of tracking progress might include timelines, Gantt charts, or other visual aids that show the various stages of the project and the estimated completion dates for each.
Ultimately, the most effective method for tracking progress will depend on the specific needs of the project and the stakeholders involved.
However, if a pictogram is being used to track progress toward completion of a six-month construction project, it could be an effective tool for communicating progress to stakeholders and ensuring that the project stays on track.
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Which of the following projects would be least benefited if additional resources were added? A. Splitting and stacking a cord of wood
B. Developing new software
C. Harvesting a crop by hand
D. Building a cabin
E. Moving to a new house
If we consider the given options, the project that would be least benefited if additional resources were added would be harvesting a crop by hand.
This is because, in harvesting a crop by hand, the work is usually limited by the number of workers available and the time it takes for each worker to complete their task. Adding additional resources such as more workers or better tools may increase the efficiency of the process, but there is still a limit to how much work can be done in a day due to the physical limitations of the workers and the natural growth cycle of the crop.
On the other hand, the other projects listed - splitting and stacking a cord of wood, developing new software, building a cabin, and moving to a new house - can all benefit greatly from additional resources. For example, splitting and stacking wood could be completed faster with more workers or better equipment, developing new software could be expedited with more programmers or access to better technology, building a cabin could be completed more quickly with more workers or access to better tools, and moving to a new house could be made more efficient with the use of professional movers or additional helpers.
In summary, while all of the listed projects could benefit from additional resources, harvesting a crop by hand would be the least benefited due to the inherent physical limitations of the task.
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diy, a retail hardware store, must use reasonable care on its premises to warn its invitees of . . .group of answer choicesall possible dangers.hidden dangers.dangers about which the business does not, or should not, know.no dangers.
DIY, a retail hardware store, must use reasonable care on its premises to warn its invitees of all possible dangers.
If you are engaging in DIY projects and are a customer at a retail hardware store, it is important to note that the store has a legal obligation to use reasonable care on its premises to warn its invitees of all possible dangers, including hidden dangers and dangers about which the business does not, or should not, know. This means that the store should take measures to ensure that their customers are aware of potential hazards and are equipped with the necessary information to stay safe while on the premises. It is important to remember that the store cannot warn you of dangers that are obvious or should be readily apparent to you, so always exercise caution and use your best judgment when engaging in DIY projects.
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Checking account A charges a monthly service fee of $20 and a wire transfer
fee of $3, while checking account B charges a monthly service fee of $30 and
a wire transfer fee of $2. How many transfers would a person have to have for
the two accounts to cost the same?
OA. 31
OB. 21
O C. 10
OD. O
If Checking account A charges a monthly service fee of $20 and a wire transfer fee of $3. The transfers that a person have to have for the two accounts to cost the same is : C. 10.
What is the transfer cost?Let x represent the number of wire transfers
Checking account A cost
Cost of Account A = monthly fee + $3x wire transfer fee
Cost of Account A = $20) + $3x )
Checking account B
Cost of Account B = monthly fee+ $2x wire transfer fee
Cost of Account B = $30 + $2x
So,
Let set two expressions equal to each other:
$20 + $3x = $30 + $2x
Simplifying this equation
$x =$10
Therefore the correct option is C.
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the most popular mortgage loan for financing a home purchase is a(n)
The most popular mortgage loan for financing a home purchase is a conventional loan.
This type of loan is not insured or guaranteed by the government, unlike FHA and VA loans. It is offered by private lenders and usually requires a higher credit score and a down payment of at least 3%. However, conventional loans have more flexible terms and are ideal for borrowers who have a stable income, good credit, and can afford a higher down payment. They also offer fixed or adjustable interest rates and can be used for a variety of home types, including single-family homes, townhouses, and condominiums. Overall, a conventional loan is a popular choice among homebuyers because of its flexibility and competitive interest rates.
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in general, outcomes for individuals with deaf-blindness depend on all of the following except
a) All interactions with adults and the environment should be viewed as learning
opportunities.
b) The quality and intensity of instruction the person receives is critical
c) The more severe the impairments, the greater the impact on a person's ability to
adapt.
d) Additional disabilities do not tend to increase the impact on a person's ability to
adapt.
In general, outcomes for individuals with deaf-blindness depend on several factors, including the severity of the impairments, the quality and intensity of instruction they receive, the availability of support services, and the individual's own strengths and abilities.
However, one factor that does not influence outcomes for individuals with deaf-blindness is the statement that additional disabilities do not tend to increase the impact on a person's ability to adapt. In reality, having multiple disabilities, such as deaf-blindness with additional physical or cognitive impairments, can increase the complexity of adapting to the environment and require more specialized instruction and support.
It is important to recognize and address all of the unique needs and challenges of individuals with deaf-blindness, including any additional disabilities, in order to help them reach their full potential and achieve positive outcomes.
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The website called O*Net is a replacement for the former Department of Labor publication:
A. The Occupational Outlook Handbook.
B. The Guide to Occupational Exploration.
C. The Dictionary of Occupational Titles.
D. The Classification of Instructional Programs.
The website called O*Net is a replacement for the former Department of Labor publication, C. The Dictionary of Occupational Titles.
This is because the Dictionary of Occupational Titles was outdated and needed to be replaced with a more modern, comprehensive resource for information on occupations.
O*Net provides detailed information on job duties, required skills and knowledge, educational requirements, and potential earnings for various occupations. It also includes information on trends and projections for job growth and demand, making it a valuable resource for job seekers, students, and career counselors.
Overall, O*Net offers a more robust and current resource for information on occupations than the previous publication.
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you have $4,500 on a credit card that charges a 14% interest rate. if you want to pay off the credit card in 3 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?
To calculate the monthly payment needed to pay off a $4,500 credit card balance with a 14% interest rate in 3 years, we can use a loan repayment calculator or an Excel spreadsheet. Here are the steps:
First, we need to calculate the total interest that will be charged over the 3-year period. We can use the formula: Interest = Principal x Rate x Time, where Principal is the balance, Rate is the annual interest rate, and Time is the number of years. So, in this case, the Interest = $4,500 x 0.14 x 3 = $1,890. Next, we need to add the interest to the principal to get the total amount owed: Total = Principal + Interest = $4,500 + $1,890 = $6,390.
Finally, we can use a loan repayment calculator or an Excel spreadsheet to find the monthly payment needed to pay off the $6,390 balance in 36 months (3 years) at a 14% interest rate. The result is approximately $188 per month.
It's important to note that this calculation assumes that no additional charges are made to the credit card during the repayment period. If new charges are made, the monthly payment will need to be higher to pay off the balance within 3 years. Additionally, making only the minimum payment will result in a much longer repayment period and much more interest paid overall.
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during the last year the value of my car depreciated by 30% . if the value of my car is $17,000 today, then what was the value of my car one year ago? round your answer to the nearest cent, if necessary .
The value of the car one year ago was approximately $24,285.71, rounded to the nearest cent.
If the value of the car has depreciated by 30% during the last year, then the value of the car one year ago would be equal to:
Value of car one year ago = Value of car today / (1 - Depreciation rate)
Depreciation rate = 30% = 0.30 (as a decimal)
Value of car today = $17,000
Value of car one year ago = $17,000 / (1 - 0.30) = $17,000 / 0.70 = $24,285.71
It is important to note that this calculation assumes a constant rate of depreciation, which may not always be the case in practice.
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lee sun's has sales of $3,900, total assets of $3,600, and a profit margin of 5 percent. the firm has a total debt ratio of 41 percent. what is the return on equity? multiple choice 5.00% 9.18% 4.76% 10.89% 5.42%
The correct answer is 9.18%. The return on equity (ROE) is a financial ratio that measures the profitability of a company by showing how much profit it generates with the money shareholders have invested. To calculate the ROE, we need to use the formula: ROE = net income / shareholder's equity.
In the given problem, we have the sales of $3,900, total assets of $3,600, and a profit margin of 5 percent. Therefore, the net income can be calculated as $3,900 x 5% = $195. We also know that the total debt ratio is 41 percent, which means that the equity ratio is 59 percent (100% - 41% = 59%).
Now, we can calculate the shareholder's equity as total assets - total debt = $3,600 x 59% = $2,124.
Using the formula for ROE, we get: ROE = $195 / $2,124 = 9.18%.
Therefore, the correct answer is B) 9.18%.
In summary, the return on equity for Lee Sun's is 9.18%, which means that the company is generating a profit of 9.18 cents for every dollar invested by shareholders.
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opportunity entrepreneurs are those who start their own business because they lost a job. true or false?
Opportunity entrepreneurs are those who start their own businesses because they lost their jobs. The above statement is False.
An entrepreneur is a person who decides to take the risk of launching a new business. Entrepreneurship is the aggregation of capital and labor to produce things or services for profit. Entrepreneur realizes their idea by founding a business to carry it out.
An entrepreneur is someone who establishes or runs their own company. Entrepreneurs are businesspeople who succeed by taking chances, whether they be in the farming, retail, manufacturing, or service sectors.
An entrepreneur is a person who decides to take the risk of launching a new business.
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on your way home from super groceries, your car breaks down. it is a hot summer day and you have nobody to call. with little time before the food spoils, you decide to prioritize what to carry on the walk home. you choose to take three items with you. since you will need all five items today, you will replace the two abandoned items at the corner store near your house, convenient grocers. the table contains the prices you paid for each good at super groceries and the prices you will need to pay at convenient grocers to replace the goods. item price at super groceries price at convenient grocers milk $3.75 $4.25 eggs $3.60 $2.80 ham $2.80 $4.75 fruits $3.75 $3.00 vegetables $2.25 $3.60 which three items should you save? milk fruits vegetables eggs ham
The three items with the highest cost differences are Ham ($1.95), Vegetables ($1.35), Milk ($0.50) you should save ham, vegetables, and milk.
Since you can only carry three items, you want to choose the three items that have the highest cost difference between the prices at Super Groceries and Convenient Grocers.
The cost difference for each item is:
Milk: $4.25 - $3.75 = $0.50
Eggs: $2.80 - $3.60 = -$0.80
Ham: $4.75 - $2.80 = $1.95
Fruits: $3.00 - $3.75 = -$0.75
Vegetables: $3.60 - $2.25 = $1.35
The three items with the highest cost differences are:
Ham ($1.95)
Vegetables ($1.35)
Milk ($0.50)
Therefore, you should save ham, vegetables, and milk.
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Which of the following sentences contains the best use of vivid adjectives without overkill?
a. The resort had nice rooms.
b. The resort offered luxurious suites with Jacuzzi tubs and saunas.
c. All sentences use vivid adjectives effectively.
d. The all-inclusive, top-notch resort offered luxurious, totally marvelous suites with incredible extras.
The sentence that contains the best use of vivid adjectives without overkill is option b, "The resort offered luxurious suites with Jacuzzi tubs and saunas."
This sentence effectively uses adjectives to paint a picture of the resort's amenities, without going overboard with unnecessary and exaggerated descriptions. The adjectives "luxurious" and "Jacuzzi tubs and saunas" give a clear and vivid image of the resort's upscale accommodations.
Option a, "The resort had nice rooms," is too vague and does not provide enough detail to fully describe the quality of the rooms. Option d, "The all-inclusive, top-notch resort offered luxurious, totally marvelous suites with incredible extras," uses too many adjectives, which can come across as over-the-top and not believable. This sentence sounds like an advertisement rather than a genuine description of the resort's amenities. Overall, option b strikes the right balance between descriptive language and simplicity, making it the most effective use of vivid adjectives without overkill.Know more about the vivid adjectives
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both coca-cola and pepsico have pursued __________ by purchasing some of their major bottlers.
a.forward vertical integration b.backward vertical integration c.forward horizontal integration d.backward horizontal integration
Both Coca-Cola and PepsiCo have pursued forward vertical integration by purchasing some of their major bottlers.
This means that they have acquired companies that are involved in the next stage of the supply chain, allowing them to have more control over the production and distribution of their products.
By owning their bottlers, they can ensure that their products are produced and distributed efficiently, and they can also maintain consistent quality and pricing.
This strategy also allows them to gain access to valuable data and insights about their customers and the market.
However, there are also some risks associated with vertical integration, such as higher costs and decreased flexibility. Overall, forward vertical integration has been a successful strategy for both Coca-Cola and PepsiCo.
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To test for recorded sales for which there were no actual shipments, the auditor vouches from the
sales journal to the shipping documents.
sales journal to the accounts receivable subsidiary ledger.
bill of lading to the supporting customer order and sales order.
bill of lading to the sales journal.
To test for recorded sales for which there were no actual shipments, the auditor would vouch from the sales journal to the shipping documents. This is because the shipping documents serve as evidence that the products were actually shipped and delivered to the customer.
Vouching from the sales journal to the accounts receivable subsidiary ledger would help ensure that the sales were properly recorded in the accounts receivable balance. However, it does not provide evidence that the products were actually shipped. Vouching from the bill of lading to the supporting customer order and sales order would help ensure that the products were shipped to the correct customer and in the correct quantities, but it does not provide evidence that the sales were actually recorded in the sales journal. Vouching from the bill of lading to the sales journal would not be a relevant test in this scenario, as the sales journal is the starting point for the vouching process.
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a compensation plan that compensates sales employees based on a percentage of sales is known as a:
A compensation plan that compensates sales employees based on a percentage of sales is known as a commission-based compensation plan.
In this type of plan, the employee's earnings are directly tied to their performance and the amount of sales they generate. The more sales an employee makes, the higher their earnings will be.
Commission-based compensation plans can be beneficial for both the employer and the employee.
For the employer, it incentivizes sales employees to generate more revenue, which can lead to increased profits. For the employee, it provides a direct link between their efforts and their earnings, giving them the potential to earn more if they perform well.
However, there are also potential drawbacks to commission-based compensation plans. Employees may feel pressure to prioritize making sales over building relationships with customers or providing excellent service.
Additionally, commission-based plans may not be suitable for all types of businesses or industries. Overall, commission-based compensation plans can be an effective way to motivate sales employees and drive revenue growth, but they should be implemented thoughtfully and with consideration for potential drawbacks.
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bob's department store would like to develop an inventory ordering policy with a 95 percent probability of not stocking out. to illustrate your recommended procedure, use as an example the ordering policy for white percale sheets. demand for white percale sheets is 4,000 per year. the store is open 365 days per year. every two weeks (14 days) inventory is counted and a new order is placed. it takes 10 days for the sheets to be delivered. standard deviation of demand for the sheets is 4 per day. there are currently 150 sheets on-hand. how many sheets should you order?
To develop an inventory ordering policy with a 95 percent probability of not stocking out, we need to calculate the safety stock and reorder point. The safety stock is the buffer inventory that we keep to cover unexpected demand fluctuations, and the reorder point is the inventory level at which we need to place a new order to avoid stock-outs.
First, we need to calculate the average daily demand for white percale sheets. We know that the annual demand is 4,000 and the store is open 365 days per year, so the average daily demand is:
4,000 / 365 = 10.96 sheets per day (rounded to two decimal places)
Next, we need to calculate the lead time demand, which is the demand during the time it takes for the sheets to be delivered (10 days). The lead time demand is:
10.96 x 10 = 109.6 sheets (rounded to one decimal place)
Now we can calculate the standard deviation of the lead time demand. Since the standard deviation of daily demand is given as 4 sheets per day, we can use the formula:
Standard deviation of lead time demand = Standard deviation of daily demand x Square root of lead time
Standard deviation of lead time demand = 4 x √10 = 12.65 sheets (rounded to two decimal places)
Using the formula for safety stock, we can calculate the buffer inventory needed to cover the lead time demand with 95 percent probability:
Safety stock = Z-score x Standard deviation of lead time demand
Assuming a normal distribution and a 95 percent probability, the Z-score is 1.65. Therefore:
Safety stock = 1.65 x 12.65 = 20.87 sheets (rounded to two decimal places)
Finally, we can calculate the reorder point by adding the lead time demand and safety stock:
Reorder point = Lead time demand + Safety stock
Reorder point = 109.6 + 20.87 = 130.47 sheets (rounded to two decimal places)
Since we currently have 150 sheets on-hand, we do not need to order any sheets at this time. However, when we count the inventory in two weeks, if the inventory level is below the reorder point of 130.47 sheets, we should place a new order for the necessary amount to avoid stock-outs.
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in the balance sheet, the account premium on bonds payable is a. added to bonds payable. b. deducted from bonds payable. c. classified as a stockholders' equity account. d. classified as a revenue account.
In the balance sheet, the account "Premium on Bonds Payable" is added to bonds payable.
Bonds payable are long-term debt liabilities that are issued by a company to raise funds. When the market interest rate is lower than the coupon rate on bonds, the bonds may sell at a price above the face value of the bonds. The difference between the selling price and the face value of the bonds is recorded as a premium on bonds payable in the balance sheet.
The premium on bonds payable is added to the face value of bonds payable to calculate the total carrying value of bonds payable. The carrying value of bonds payable is the amount that the company will pay at maturity, and it is also used to calculate the interest expense related to bonds.
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T/F: cost volume profit analysis can be used to find the breakeven point in dollars as well as in units.
The statement is True. Cost volume profit analysis (CVP) is a managerial accounting tool used to study the relationship between sales, costs, and profits.
How can it be used?It can be used to find the breakeven point, which is the level of sales at which a business neither makes a profit nor incurs a loss. The breakeven point can be calculated in terms of units or in dollars.
When calculating in dollars, the breakeven point is determined by dividing total fixed costs by the contribution margin ratio, which is the difference between sales revenue and variable costs.
By using CVP analysis to find the breakeven point in dollars, businesses can make informed decisions about pricing, costs, and sales volume, leading to improved profitability and financial stability.
Hence, it is true.
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