1. discuss the limitations of activity-based costing (abc). 2. why abc is not allowed under u.s. gaap?
Answers
Because it is impossible to allocate all overhead expenditures to certain activities, ABC has this constraint and the fact that ABC systems do not allocate all manufacturing costs to products is one of the main reasons why ABC is not in compliance with GAAP.
What is activity based costing?In contrast to conventional costing techniques, this accounting method of costing acknowledges the connection between costs, overhead activities, and manufactured goods, allocating indirect costs to products less randomly.Allocating overhead and indirect costs to goods and services, such as salaries and utilities, is done using the productivity-based costing technique.The Activity Based Costing system of cost accounting is built around activities, which are defined as any occasion, project, or task with a clear objective.A cost driver is an activity, like purchase orders or machine settings.The amount of overhead and indirect costs associated with a specific activity is determined using the cost driver rate, which is the cost pool total divided by cost driver.ABC is used to better understand expenses, enabling businesses to develop a more suitable pricing plan.Hence, Because it is impossible to allocate all overhead expenditures to certain activities, ABC has this constraint and the fact that ABC systems do not allocate all manufacturing costs to products is one of the main reasons why ABC is not in compliance with GAAP.
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Related Questions
Which of the following reflects an acceptable yearly developmental goal as identified on an employee’s Individual Development Plan? (Select all that apply.)
improve my listening skills and interpersonal communication.
complete the training to become a master aircraft mechanic.
reconnect with high school friends in similar careers for networking.
enroll in post-graduate courses and complete studies for a master’s degree.
Answers
Answer:
improve my listening skills and interpersonal communication.
enroll in post-graduate courses and complete studies for a master’s degree.
Explanation:
1. The fundamental problem of economics is:
A. to establish an equitable system of personal and business taxation.
B. to establish a democratic political framework for the provision of social goods and services.
C. the scarcity of factors of production relative to the unlimited wants of humans.
D. to achieve a more equitable distribution of money income in order to mitigate poverty.
Answers
Answer:
I think C is the correct answer.
There are many restaurants in the city of Charleston, South Carolina, each one offering food and services that differ from those of its competitors. There is also relatively free entry of sellers into the market, and each seller serves a very small fraction of the total number of meals served each day. The restaurant industry in Charleston is best categorized as:
Answers
Answer: monopolistically competitve
Explanation:
Monopolistic competition is an industry whereby there are many firms that offer identical products or services but it should be noted that they are not perfect substitutes.
There is a low barriers to entry and exit and other competitors aren't directly affect by the decision of another producer. Based on the above scenario, the restaurant industry in Charleston is best categorized as monopostically competitive.
A milestone occurring in which of these increments of time will be the farthest to the left on a timeline?
Answers
Answer:
3 Years
Explanation:
Hope this helps! Please let me know if you need more help, or if you think my answer is incorrect. Brainliest would be MUCH appreciated. Have a great day!
An investment company where workers follow a strict schedule is an example of a(n) _____. a. informal workplace b. unstructured workplace c. casual workplace d. formal workplace
Answers
Answer:
d. formal workplace
Explanation:
A formal workplace has a structured way of doing things. Both the management and employees dress in the prescribed attire. There is a lot of emphasis on rules and procedures in the work processes. Information and work instruction follow established communication channels within the business. Hierarchy and protocols are observed when making official reports.
Answer:
D)
Explanation:
whats the difference between life values and work values
Answers
Answer:
life values: are things you respect in your rights as a human
Authenticity Adventure Balance.
Bravery Compassion Challenge.
Citizenship Community Creativity.
Curiosity Determination Fairness.
Freedom Friendships Fun.
Generosity Growth Honesty.
Integrity Justice Kindness.
work values: are things you value and respect threw the service that you work with for example
Loyalty
A Strong Work Ethic.
Dependability and Responsibility.
Possessing a Positive Attitude.
Adaptability.
Honesty and Integrity.
Self-Motivated.
Motivated to Grow and Learn.
Strong Self-Confidence.
When the door on cameron's old car would no longer close, he knew that he had a problem. cameron's next step in the consumer decision process would be to:_________
Answers
Evaluate alternative solutions.
What is Cameron's next step in the consumer decision process?After realizing that the door on his old car no longer closes, Cameron is faced with a problem. In the consumer decision process, his next step would be to evaluate alternative solutions. Cameron needs to explore different options to address the issue with his car door. This may involve considering various possibilities such as repairing the door, finding a replacement door, or even purchasing a new car altogether. Evaluating alternative solutions allows Cameron to weigh the pros and cons of each option, considering factors such as cost, feasibility, and effectiveness. By going through this step, Cameron can make an informed decision on how to proceed with resolving the problem with his car door.
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Description of Transaction Type of Market Mr. and Mrs. Smith buy a new house in Walnut Creek, California. They paid the entire amount, $800,000, in cash.
Answers
Mr. and Mrs. Smith buy a new house in Walnut Creek, California. They paid the entire amount, $800,000, in cash, this will be traded in Financial asset markets.
What is Financial asset markets?A financial asset market is a place where a contractual right to a specific type of wealth can be purchased and sold. This is typically distinguished by the asset's liquidity, or how quickly it can be converted to cash, and includes financial assets such as savings and checking accounts, stocks and bonds, and mortgages.
One of the distinguishing characteristics of wealth traded on such a market is that it does not always have direct or linear ties to actual physical value, as in the case of land, jewellery, or art.
Trading environments for a financial asset market, such as a stock market or bond market, are prone to fluctuation due to a variety of seemingly unrelated market conditions.
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Complete question:
You are preparing to take an exam in your finance class, and you’ve been making flash cards on different markets and transactions. Indicate the markets in which each of the following transactions will be traded:
Description of Transaction Type of Market Mr. and Mrs. Smith buy a new house in Walnut Creek, California. They paid the entire amount, $800,000, in cash. Financial asset markets
Sd - personal financial literacy
your monthly expenses
now subtract the rest of your monthly expenses
calculate the final total amount of money you could put
toward savings or another expense.
forwarded subtotal
$629.75
utilities
$225
medical expenses
$149.46
emergency fund
$50
entertainment
$100
final total
$?
1) intro
done
Answers
The final total amount of money you could put towards savings or another expense is $205.29.
This number is calculated by subtracting your monthly expenses (utilities $225, medical expenses $149.46, emergency fund $50, and entertainment $100) from the initial total of $629.75. This leaves you with an amount of $205.29 that you can put towards savings or another expense.
The amount of money earned that is not used for immediate expenses is saved. In other words, it refers to money that is stored away for later use rather than being immediately spent. Why do we need to save money? Savings can be utilised to achieve goals in the short term, like purchasing a cell phone, or in the long term, like completing your education or purchasing a home or car.
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order the steps for manually calculating future value of an ordinary annuity. instructions choice 1 of 4. calculate interest on the balance, and add the interest to the previous balance. toggle button calculate interest on the balance, and add the interest to the previous balance. choice 2 of 4. add additional investment at the end of the second period to the new balance. toggle button add additional investment at the end of the second period to the new balance. choice 3 of 4. no interest is calculated on the first period. toggle button no interest is calculated on the first period. choice 4 of 4. continue calculating interest on balance, adding to previous balance, then adding additional investment until desired period is reached. toggle button continue calculating interest on balance, adding to previous balance, then adding additional investment until desired period is reached.
Answers
The steps for manually calculating future value of an ordinary annuity is as follows 4. No interest is calculated on the first period. 2. Calculate interest on the balance, and add the interest to the previous balance. 3. Add additional investment at the ed of the second period to the new balance. 1. Continue calculating interest on balance, adding to previous balance, then adding additional investment until desired period is reached.( 4, 3, 2, 1 ).
How do you determine an ordinary annuity's future value?
The future value of an ordinary annuity is calculated using the formula F = P * ([1 + I]N - 1)/I, where P is the payout amount. I is equivalent to the discount (interest) rate. There will be N payments; the "" denotes that N is an exponent. F stands for the annuity's future value.
The following equation can be used to determine future value with compound interest: future value = present value x (1 + interest rate)n. Use the following equation to determine future value with simple interest: future value = present value x [1 + (interest rate x time)].
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All of the following are important to consider when deciding if a vocational
school is right for you except
A. the lack of general education,
B. how new the school buildings are.
C. the duration of the program.
O D. the range of career options.
Answers
Hope this helps!
Answer:
b.
Explanation:
just took the test
`What type of market structure exists for the fast food industry?
Answers
Answer:
http://sellsidehandbook.com/2018/10/08/understanding-market-structure-perfect-competition-monopoly-and-monopolistic-competition/
Explanation:
For problems 1-3, use the Social Security tax rate of 6.2% on the first $97,500 earned and
Medicare tax rate of 1.45% on all earnings to solve the following problems.
1.) Richard has a gross monthly income of $3,400. His earnings to date for this year are
$54,000. How much is deducted this month for Social Security? How much for Medicare?
Answers
Answer:
Social security : $210.8
Medicare: $49.3
Explanation:
Social security tax and medicare are calculated based on the gross income.
Richards gross income for the months us $3,400
Social security tax will be
=6.2 % of $3400
=6.2/100 x 3400
=0.062 x 3400
=$210.8
Medicare tax will be
=1.45 % x $3400
=1.45/100 x 3400
=0.0145 x 3400
=$49.3
List three reasons that people should pay their taxes.
Answers
Improved Healthcare and Education
A significant chunk of the collected taxes is spent on improving healthcare in the country. There are government hospitals that offer medical services without any cost or at minimum cost. Over the years, the quality of service provided by government hospitals has improved by leaps and bounds, and it has only happened because of taxpayers paying tax.
Helps Build the Nation
The cost of running an entire country, especially one that is as large and populated as ours, is humongous. It is through the taxes we pay that the government can perform civil operations. In other words, without taxes, it would be impossible for the government to run the country.
Avoid Tax Back
When being confronted with back taxes we owe the government, we often think of ways to cut back on it. Well, most tax laws understand the hardships of every taxpayer. Though, tax services are available for those who are delinquent in paying their taxes, which is a helpful opportunity to people who don’t have available money or funds.
Answer:
3 reasons why ppl should pay their darn taxes is because:
Explanation:
Social Welfare Pack. Social welfare and social security are one of the greatest benefits the less privilege, homeless and those in need enjoy without having to pay back. ...
Sustain Government. A tax irrespective of its name is another life source of government sustenance. ...
Avoid Tax Back.
Competition among sellers (producers) lowers costs and prices, and encourages producers to produce more of what consumers are willing and able to buy.
A. Explain how the above (free market competition) would be an advantage for you, the consumer.
B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.
Answers
Answer:
A. Explain how the above (free market competition) would be an advantage for you, the consumer.
Free market competition is advantageous to the consumer because it promotes the supply of many goods and services, at a lower price than other market structures like oligopoly or monopoly.
In the free market, there are many firms, none have market power, and they produce goods and services that have many substitutes. This means that if a firm raises the price of a good, consumers simply flock to another firm that offers a similar product. This mechanism obliges firms to offer their goods at the market-clearing price, which is the best price for the consumer.
B. Describe how an oligopoly OR monopoly could inhibit competition among businesses.
Oligopolies ocurr when there are only a few firms in the market, and monopoly ocurrs when there is only one firm. These two market structures allow firms to charge higher prices than the market-clearing price, and to supply less quantity than the market-clearing quantity.
Besides, oligpolies and monopolies are characterized by high barriers to entry and exit, which keep potential competing firms out of market, inhibiting competition.
37. The top of the plate where food is placed is called?
A) Food-danger zone.
B) Food-contact surface.
C)Food-temperature risk.
D) Food-stacking area.
Answers
Answer:
B. Food-contact surface
Explanation:
no idea
The plate's surface where the food is laid down is known as the 'Food-contact surface.'
Firstly, we will understand about 'Food Contact Surface.'
Any surface that directly comes in touch or contact with food items. It may include knives, cutting boards, plates, vessels, etc. Therefore, such surfaces are required to maintain top-class hygiene to prevent any kind of contamination.'Food-danger zone' is characterized as the area or region which may lead to infect or poison the food and the food must be protected to be placed from there.
'Food-temperature risk' is the probable threat to a particular food due to reaching or not maintaining a specific temperature resulting to spoil it.
'Food-stacking area' where plenty of food is stored in air-tight boxes or in refrigerators.
Thus, this makes option b i.e. 'food-contact surface' as the correct answer.
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Tim receives a call from a friend when he is on a conference video call with his boss. What should be his next step?
Answers
Answer:
He shoukd apologises to his boss and send the other person to voicemail and creat a plan to call back later
Explanation:
Answer:
Disconnect the call
Explanation:
edmentum
Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom. According to
O*NET, what are common tasks performed by Graphic Designers? Check all that apply.
conferring with clients
creating designs, concepts, and sample layouts
scheduling projects for clients
hiring and training new team members
determining size and arrangement of illustrative material and copy
developing graphics and layouts
Answers
Answer:
creating designs, concepts, and sample layouts
scheduling projects for clients
determining size and arrangement of illustrative material and copy
developing graphics and layouts
Answer:1,2,5,6.
Explanation:
The supply curve is upward-sloping because higher prices ________.
Answers
The supply curve is upward-sloping because higher prices incentivize producers to produce more.
As the price of a good increases in the market, the producers can sell each unit that they produce at a higher price, and make it more profitable for them to increase their production.
A supply curve can be defined as a graph that shows how a change in the price of a good or service can affects the quantity that a seller supplies. Price is usually listed on the vertical y-axis of the graph, while quantity supplied is listed on the horizontal x-axis of the graph.
Factors like- taxes and government regulation, market power of the suppliers, availability of the substitute goods, and the economic cycles may all shift the supply or demand curves or alter their respective shapes.
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You have a friend that plays guitar in a local indie band. The friend tells you that his band has been asked to play in an Oktoberfest concert downtown. He's not good at math (or anything other than playing guitar), so he enlists your help in determining the best prices and fees to negotiate with the promoter. Early estimates show that 3,000 people will attend. Each attendee is expected to spend an average of $15 on concessions. The tickets sell for $10 each. The band will receive 80% from ticket sales and 70% from concession sales. There is a fixed cost of $10,000 that the band must pay upfront. Develop a general mathematical model in Excel to determine the expected profit. In addition, your friend will not do the concert unless the predicted profit is greater than $45,000 since he has other venues offering to host his band. make a decision labeled as "Show" or "No Show" to indicate the decision. Use good spreadsheet model techniques. Use spacing, colors, and cell borders to distinguish the various input and outputs. Test and validate your model.
Answers
To determine the expected profit, we can create a mathematical model in Excel as shown below: Here, the formulas used in Excel are:
Total ticket revenue = Number of attendees * Ticket price Band revenue from ticket sales = Total ticket revenue * 80% Total concession revenue = Number of attendees * Concession spending per attendee Band revenue from concession sales = Total concession revenue * 70% Total revenue = Band revenue from ticket sales + Band revenue from concession sales Total expenses = Fixed cost Predicted profit = Total revenue - Total expenses.
Using the above formulas, we can calculate the total ticket revenue to be $30,000 (3,000 attendees * $10 ticket price).The band revenue from ticket sales would then be $24,000 (80% of $30,000).Similarly, the total concession revenue would be $45,000 (3,000 attendees * $15 concession spending per attendee).The band revenue from concession sales would be $31,500 (70% of $45,000).
Therefore, the total revenue would be $55,500 ($24,000 + $31,500).The total expenses would be $10,000 (fixed cost).Thus, the predicted profit would be $45,500 ($55,500 - $10,000). Since the predicted profit is greater than $45,000, the decision would be "Show". We can create an Excel spreadsheet to organize the above calculations and perform them automatically, as shown below: We can use different cell colors and borders to distinguish between inputs, calculations, and outputs. We can also include labels to make it easier to understand the model. Finally, we can test and validate the model by changing the input values and making sure that the outputs change accordingly.
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Oriole Service Company’s net income for 2025 was $294400. At the end of the year, the company’s accounts receivable balance was $22300 higher than at the beginning of the year. The accounts payable balance was $8900 lower than at the beginning of the year and the company reported depreciation expense of $45000. Net cash provided by operating activities for the year is
Answers
Therefore, the net cash provided by operating activities for the year is $352,800.
The net cash provided by operating activities, we need to consider the changes in accounts receivable and accounts payable, as well as the depreciation expense.
Net cash provided by operating activities can be calculated using the indirect method by adjusting net income for non-cash items and changes in working capital.
Net income: $294,400
Depreciation expense: $45,000
Increase in accounts receivable: $22,300
Decrease in accounts payable: $8,900
Adjusted net income: Net income + Depreciation expense
Adjusted net income: $294,400 + $45,000 = $339,400
Changes in working capital: Increase in accounts receivable - Decrease in accounts payable
Changes in working capital: $22,300 - $8,900 = $13,400
Net cash provided by operating activities: Adjusted net income + Changes in working capital
Net cash provided by operating activities: $339,400 + $13,400 = $352,800
Therefore, the net cash provided by operating activities for the year is $352,800.
The net cash provided by operating activities represents the cash generated from the core operations of the business. It indicates the company's ability to generate cash flow from its day-to-day activities. In this case, Oriole Service Company had a net income of $294,400, which was adjusted by adding back the depreciation expense of $45,000 to account for its non-cash nature. Additionally, the increase in accounts receivable of $22,300 and the decrease in accounts payable of $8,900 are considered as changes in working capital.
By adding the adjusted net income and the changes in working capital, we arrive at the net cash provided by operating activities of $352,800. This indicates that Oriole Service Company generated $352,800 in cash from its operating activities during the year.
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Fill the Blank ,the account allowance for uncollectible accounts normally has a _______
Answers
The account allowance for uncollectible accounts normally has a "Credit Balance". Accounts receivable that may not be collected are estimated and recorded using the account allowance for uncollectible accounts.
Sometimes referred to as the allowance for questionable accounts, which is a contra-asset account. The balance sheet shows the allowance account as a decrease from accounts receivable, which represents the anticipated net amount of client payments. Because it lowers the amount of accounts receivable that are recorded on the balance sheet, the allowance account typically has a credit balance. The allowance account balance is deducted and the accompanying accounts receivable balance is credited when a certain account is determined to be uncollectible.
Accounts receivable that may not be collected are estimated and recorded using the account allowance for uncollectible accounts, sometimes referred to as the allowance for questionable accounts, which is a contra-asset account.
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Which conclusion does this graph most support?
Product A
100
75
Demand
Product B
50
25
0
$10
$20
$25
$15
Price
O A. Demand for product A is more inelastic than demand for product
B.
B. The price for product A is closer to its equilibrium price.
C. Demand for product A is more elastic than demand for product B.
D. The price for product B is closer to its equilibrium price.
Answers
Demand for product A is more elastic than demand for product B is the conclusion does this graph most support. Hence, option A is correct.
What is elasticity of demand?A demand that is elastic experiences a significant shift in quantity demanded as a result of a price adjustment. When the amount sought changes little as a result of a price adjustment, the demand is said to be inelastic.
Example if the price of the tea change, the consumption of the tea remains the same or little less.
Thus, option A is correct.
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Which people in government and public administration act as first responders during emergencies?
Law enforcement professionals, such as ________, act as the country’s first responders during emergencies, such as natural disasters.
Answers
Answer:
see below
Explanation:
Law enforcement professionals, such as firefighters, emergency medical technicians (EMT's), state police offices, and paramedics, act as the country's first responders during emergencies and natural disasters. The U.S. marshals, deputy marshals, and the military may also be called depending on the gravity of the disaster.
The law enforcement professionals' core mandate is to protect citizen's lives and property. During emergencies, law enforcement agencies are always called upon to execute their mandate with speed and the utmost care.
A PowerPoint Hierarchy List specializes in:
A. representing especially 'tall' hierarchies, with many levels.
B. showing relationships progressing across groups.
C. displaying two-way relationships in a team.
D. representing especially 'flat' hierarchies with few levels.
Answers
Answer:
Explanation:
b
What are the fundamental questions that product testing attempts to answer? (check all that apply.)
Answers
The fundamental questions that product testing attempts to answer are;
How can a product be improved to exceed customer expectations?
How does a product perform for a customer?
These questions both aim at meeting customer needs for their satisfaction for the given product which is a primary goal in product assessment.
Product testing is a method of analyzing a product concept, feature or functionality to determine how potential customers may use or react to the product.
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Alfred has plotted revenue and cost graphs for his pastry business. He’s testing a number of cost assumptions against his business’s revenue.
Answers
Cost decreases and revenue increases to about $6 per pastry. Cost and revenue both decrease after about $6.
What is Cost and Revenue in economics?
In business economics, the two key concepts are cost and income. Every firm strives to reduce expenses and increase revenue in order to generate the most profit.
Cost is the amount of money that each business has invested to produce a certain good or service.
The cost of a product is the monetary value assigned to the raw materials, labour, and other resources utilised to produce it in any firm.
Money serves as the production system's input in this instance so that the desired good or service can be obtained. Estimating costs during business planning for a firm, project, or product is crucial for ensuring profitability.
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Which of the following OM strategy/issues should a firm with a product in the maturity stage of its life cycle be LEAST concerned at the present time?
A. cost cutting B. standardization C. long production runs D. increase capacity E. fewer rapid product changes
Answers
Standardization should a firm with a product in the maturity stage of its life cycle be LEAST concerned at the present time.
Standardization is the process of developing, promoting, and sometimes requiring, standards-based, interoperable technologies and processes within a particular industry. Technology standards specify technology quality and consistency and can ensure compatibility, interoperability, and security.
The goal of standardization is to ensure some degree of consistency or uniformity for a particular practice or operation within a selected environment. An example of standardization is Generally Accepted Accounting Principles (GAAP), which all companies listed on a US stock exchange must comply with.
Standardization is the process of creating protocols to guide the creation of goods or services based on the consensus of all industry stakeholders.
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corey in a desperate need to get to the airport decides to take his neighbor tanner's help. tanner agrees to help and drives corey to the airport. upon arrival at the airport, corey promises to pay tanner $25 for the gas fill. which of the following conditions would have made the contract between corey and tanner enforceable?
if the promise to pay gas money had been made before the trip was made
if tanner had driven corey to the airport in the past
if corey, upon arrival, had promised to pay gas money to tanner whenever he could
if tanner was contracted to drive corey to the airport as a duty
Answers
The condition that would have made the contract between Corey and Tanner enforceable is if Tanner was contracted to drive Corey to the airport as a duty.
There would be a legally binding agreement between the two parties, specifying the terms and conditions of the service provided. For a contract to be enforceable, there must be a mutual agreement between the parties involved. In this case, if Corey and Tanner had agreed on the payment of gas money before the trip, it would demonstrate mutual consent and the intention to enter into a contractual arrangement. This would satisfy the requirement of mutual agreement and would make the contract enforceable. The other options do not fulfill the necessary conditions for an enforceable contract. The past actions or promises made after the trip do not establish a clear agreement or consideration between Corey and Tanner. Additionally, driving someone to the airport as a duty does not automatically create a contractual obligation for payment. Therefore, the condition where the promise to pay gas money was made before the trip would make the contract enforceable between Corey and Tanner.
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Does the Federal Reserve pay taxes?
Answers
Answer:
Federal Reserve banks are exempt from paying taxes at the federal, state and local levels, except on real estate holdings. This is because of rules on taxation set forth in Section 7(c) of the Federal Reserve Act.
Explanation: