Agricultural output is affected by the weather. Excessively high temperatures and a lack of rainfall are detrimental too crop yields. Of course, all farmers want the best growing conditions possible, and they work with whatever the weather is, in order to maximize their crop yield. Suppose, however, for a particular crop, this is a bad year and there is a decrease in crop yield, and therefore less of the good is produced. Is there any way this could be beneficial for the framersrevenue? a) Without the use of a diagram, in your own words, layout the conditions) under which this could happen b) Suppose you have a bright but sceptical friend who doubts your answer in part (a). Without relying on technical jargonexplain (again, in your own words) how such a surprising result is possible

Answers

Answer 1

Answer: The answer is provided below

Explanation:

a. When the quantity supplied of a particular crop reduces, it will affect the farmer's revenue but this can still be beneficial to the farmer provided these conditions prevails:

• If demand for the crop rises more than its fall in supply, this will lead to a rise in the and price of the crop. Hence, there will also be an increase in the revenue of the farmer and the farmer will try to adjust output and sell at higher prices. Therefore, the excess demand can off set a fall in the supply.

b. We know that the supply of a crop is limited. For example, let's assume that the crop is rice. Now the situation is that people are demanding more beans maybe as a result of festive season. Therefore, everyone will want to purchase rice which will lead to an increase in the price of rice due to excess demand.

The farmer will try as much as possible to maximise profit and will therefore sell the rice at higher price to those that wants to buy. Therefore, it's clear that the farmer can still benefit, even if his supply is limited, but the demand must be greater than its decline in supply.


Related Questions

There are three different types of business ownerships: Sole Proprietorship, Partnerships and Corporations. Explain why different types of businesses exist, and why a business might choose one type of ownership over the other

Answers

Different types of businesses exist to accommodate varying needs, goals, and circumstances of entrepreneurs and business owners. The choice of business ownership is influenced by several factors, including liability, taxation, management structure,  and long-term business objectives.

Sole Proprietorship:

A sole proprietorship is the simplest form of business ownership, where a single individual owns and operates the business. This type of ownership may be preferred for the following reasons:

Ease of formation: Sole proprietorships are easy and inexpensive to set up compared to other types of ownership structures.

Complete control: The owner has full control over decision-making and business operations.

Tax advantages: Sole proprietors can benefit from certain tax advantages, such as reporting business income on their personal tax return and potentially offsetting losses against other income.

Partnerships:

Partnerships involve two or more individuals who come together to carry out a business venture. Partnerships offer the following advantages:

Shared responsibility and expertise: Partners can contribute different skills, resources, and expertise to the business.

Shared risk and liability: Partnerships distribute the business's risks and liabilities among the partners, which can provide a level of protection for individual partners.

Flexibility: Partnerships can be relatively easy to establish and dissolve, providing flexibility for collaboration on specific projects or ventures.

Corporations:

Corporations are separate legal entities distinct from their owners/shareholders. They are often chosen for the following reasons:

Limited liability: Shareholders' personal assets are generally protected from the corporation's debts and liabilities, limiting personal risk.

Access to capital: Corporations can issue shares of stock to raise funds and attract investors. This makes it easier to access capital for growth and expansion.

Perpetual existence: Corporations can continue to exist even if the ownership or management changes, providing stability and continuity.

It's important to note that each business structure has its own advantages and disadvantages, and the choice depends on the specific circumstances, goals, and preferences of the business owners. Consulting with legal and financial professionals can help entrepreneurs make informed decisions about the most suitable business ownership structure for their particular situation.

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1) Tesla needs to order custom processor chipsfior their cars. The annual demand is
50,000. It cost $5000 to place an order. The chips must be stored in an environmentally friendly location and cost $50 per chip to store annually. The factory is open 360 days a
year. What is the optimal order quantity? What is the number of workdays in an order cycle?



2) The Lancaster Tesla dealer is open to the public for customers to come to the store and test drive a car. On any given Saturday customer arrive at a rate of 5 customer per hour. It takes 1 employee about 30 minutes to complete the test drive with a customer. Some customers take shorter, some take longer. There is expected to be a wait, but what is the average number of customers waiting for service? This will allow Tesla to build the correct size waiting room. Also how long do customers wait in line. This will allow Tesla to plan alternative activities that can take place during the wait. As a manager, what would you recommend Tesla do about the current system in order to improve customer service?

Answers

Tesla needs to identify the optimal order size for its product processor chipsfior, the correct order size can be determined by Economic order quantity.

EOQ  =  \(\sqrt{\frac{2*D*S}{H} }\)

EOQ = 3162.28

Economic order quantity is the optimal quantity which is to be order in the business. This is inventory management technique.

The number of work days in order cycle are 50,000 / 3162 = 15.8

Tesla should extend its waiting room and allow more customers to wait in the room for they customer service issues. There can be feedback on the service provided so that there can be improvement.

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During job interviews, potential employers often ask candidates to describe a time where they have demonstrated their initiative and/or results driven skills. This week, you’ll have a chance to practice.

In paragraph 1, describe a time at work, home, or school where there was a problem and you took the initiative to solve that problem and to seek results on your own.

In paragraph 2, explain how the process went and describe the solution that you developed.

Answers

Answer:

During a pandemic everyone and everything is crazy and it hasn't gone very for me at work or at home. I guess that's why they say it's best for you stay home and quaretine for days because of a test that came back positive.

Explanation:

To help audiences understand large amounts of information, which visuals are the most suitable?

Answers

different between isoquant and isocost

A pharmacy has determined that a healthy person should receive 70 units of
proteins, 100 units of carbohydrates and 20 units of fat daily. If the store carries
the six types of health food with their ingredients as shown in the table below,
what blend of foods satisfies the requirements at minimum cost to the
pharmacy? Make a mathematical model for the given problem.

Answers

Answer:

Explanation:

69

Market research can help you strategize your _______ and _______ goals.

Primary research is more _______ than secondary research.

Your first marketing priority is to find out if you can _______ your product or services.

The grouping of people for marketing purposes is called _______.

Once you find out what people want, there’s a need to know the _______ for their choices.

Answers

Market research can help you strategize your business and marketing goals.

Primary research is more specific and tailored to your specific needs than secondary research.

Your first marketing priority is to find out if you can sell your product or services.

The grouping of people for marketing purposes is called segmentation.

Once you find out what people want, there's a need to know the motivations for their choices.

Market research plays a critical role in shaping business and marketing strategies by providing valuable insights into customer preferences, market trends, and competitive landscapes. It helps in identifying target markets, understanding customer needs, and developing effective strategies to achieve business and marketing goals.

By conducting research, businesses can gather data and information to inform their decision-making and ensure that their goals are aligned with customer expectations and market opportunities.

Primary research involves gathering firsthand data directly from the source, such as through surveys, interviews, or observations. It is more specific and focused on the unique needs and objectives of a particular study. Secondary research, on the other hand, involves using existing data and information from published sources.

While secondary research provides a broader understanding of a topic, primary research allows for more control and customization of the research process to address specific research objectives.

When launching a new product or service, one of the primary marketing priorities is to determine if there is a demand for it in the market.

Market research helps in assessing the viability and potential success of a product or service by gathering insights on customer preferences, needs, and market conditions. This information enables businesses to make informed decisions about product development, positioning, pricing, and marketing strategies.

Segmentation is the process of grouping individuals with similar characteristics or behaviors into distinct segments for marketing purposes.

By segmenting the market, businesses can target specific groups that are most likely to be interested in their products or services. Market segmentation allows for more personalized and targeted marketing strategies, resulting in better customer engagement and increased marketing effectiveness.

Once businesses identify what people want through market research, it becomes crucial to understand the motivations behind their choices. This involves delving deeper into the underlying reasons, preferences, and factors that drive consumer behavior.

By understanding the motivations behind consumer choices, businesses can tailor their marketing messages, product features, and overall customer experience to better align with customer needs and increase the chances of success in the market.

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Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier?

Answers

The psychological barrier may become an obstacle for a company to run its operations effectively.

The correct answer to the given question is :

" But it might make fat"

What is Psychological Barrier?

This quote is a psychological barrier for a company's new product, because it already states that it may cause a person to become fat.

Usually people follow healthy diet and they avoid consuming such products which make them fat.

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Manny gil is an enpernaur

Answers

very cool for you to inform us on that but whats the question there buddy

what is the difference between hire purchase and differed payment?​

Answers

Explanation:

In deferred payment, the borrower will agreed to pay certain amount of money on the promised date. ... In hire purchase, the purchaser will be getting the belongings without paying the full price of the item. The purchasers would make down payment and the balance is paid in installments.

Explanation:

Hire purchase is a system by which one pays for a thing in regular installments while having the use of it but deferred payments are payments that are completely or partially postponed for financial reasons

in Italy An overview of economic factors that could influence pricing strategies. A synopsis of costs that would influence the price of the good or service being proposed for global business operations. Recommend a pricing strategy (including specific prices) for the proposed enterprise. Provide evidence to support your proposal.

Answers

Some elements influencing foreign consumer behavior in international marketplaces include but are not limited to:

target market economics and political ideology;education and technical abilities;values and attitudessocial and cultural factors;languagereligion and beliefs; andlegal and competitive issues.

The costs that could influence the price of the good or service being proposed for global business operations are?

Some of the major costs that drive the price of goods these days at the international level are:

Cost of technologycost of informationCost of raw materialscost of regional labor etc.

Taking cost of labor, for instance, China became the headquarters of production and large-scale manufacturing because thee readily provided cheap labor and had access to raw materials at a reasonable cost due to their global influence.

Thus, a principal strategy that would support a global enterprise must take into consideration sources of:

Cheap labor andCheap raw materials.

Any global business that is able to achieve control over these two factors will dominate in terms of price.

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The government needs to provide public goods for what reason?
O A. Citizens demand government regulation to protect their freedom.
O B. Private companies cannot profit by providing them.
O
O c. The government can reduce taxes by profiting from public goods.
O D. They are necessary for raising the standard of living.

Answers

Your Answer Is D, Its D because All of the rest is not why.

Tim receives and reviews the results from his 360-degree feedback survey, which includes a few critical comments. How should Tim proceed?

Answers

By approaching the feedback with an open mind, self-reflection, and a proactive mindset, Tim can leverage the critical comments to enhance his personal and professional growth.

Acknowledge and accept the feedback: Tim should recognize that feedback, even if critical, is valuable for personal and professional growth. He should remain open-minded and receptive to the comments provided.

Reflect and self-assess: Tim should take time to reflect on the feedback and consider how it aligns with his own self-assessment. He can evaluate his strengths and areas for improvement based on the feedback received.

Seek clarification: If there are any comments that Tim finds unclear or wants further information about, he can reach out to the individuals who provided the feedback for clarification. This can help him gain a better understanding of the specific areas that need attention.

Develop an action plan: Tim should develop a plan to address the areas for improvement identified in the feedback. He can set specific goals and outline actionable steps to work on those areas, seeking support or resources as needed.

Seek guidance or coaching: Tim can consider seeking guidance from a mentor or coach who can provide additional insights and help him navigate the feedback. A coach can assist him in developing strategies for personal and professional development.

Monitor progress and reassess: Tim should regularly review his progress, track improvements, and reassess his performance based on the feedback received. This will allow him to continuously refine his skills and make positive changes over time.

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Discuss the concept of 'Price Determination'

Answers

Answer: Price determination is the interaction of the broad. forces of supply and demand which “determine” or. cause the market price level. Price discovery is the process of buyers and sellers.

Explanation:

6. Determine the estimated sales if 40 contacts are made. 17. FILE A recent article in Bloomberg Businessweek listed the "Best Small Compa- nies." We are interested in the current results of the companies' sales and earnings. A random sample of 12 companies was selected and the sales and earnings, in millions of dollars, are reported below. Company Papa John's International Applied Innovation Integracare Wall Data Davidson & Associates Chico's FAS X Sales Earnings ($ millions) ($ millions) $89.2 18.6 18.2 71.7 58.6 46.8 $4.9 4.4 1.3 Company Checkmate Electronics Royal Grip M-Wave Serving-N-Slide 8.0 6.6 Daig 4.1 Cobra Golf X M Sales Earnings ($ millions) ($ millions) $17.5 11.9 19.6. 51.2 28.6 69.2 $2.6 1.7 3.5 8.2 6.0 12.8 Let sales be the independent variable and earnings be the dependent variable. a. Draw a scatter diagram. b. Compute the correlation coefficient. c. Determine the regression equation. d. For a small company with $50.0 million in sales, estimate the earnings. orting in several rec​

Answers

a The scatter diagram is attached .

b The correlation coefficient is 0.77. This indicates that there is a strong positive linear relationship between sales and earnings.

b The regression equation is y = 0.09x + 2.2. This equation can be used to predict earnings from sales.

d If a small company has $50.0 million in sales, the estimated earnings are $41.2 million.

How to explain the working

Enter the data into a spreadsheet.

Company Sales (millions of dollars) Earnings (millions of dollars)

Papa John's International 89.2 18.6

Applied Innovation 18.2 4.4

Integracare 71.7 1.3

Wall Data 58.6 4.9

Davidson & Associates 46.8 4.6

Chico's FAS 42.0 2.6

Checkmate Electronics 36.0 2.2

Royal Grip 30.0 1.7

M-Wave 24.0 1.5

Serving-N-Slide 18.0 1.3

Daig 12.0 1.1

Cobra Golf 6.0 0.8

Step 2: Use the "Scatter" function to create a scatter diagram.

The scatter diagram shows that there is a positive linear relationship between sales and earnings.

Use the "Correlation" function to calculate the correlation coefficient.

The correlation coefficient is 0.77. This indicates that there is a strong positive linear relationship between sales and earnings.

Use the "Regression" function to calculate the regression equation.

The regression equation is y = 0.09x + 2.2. This equation can be used to predict earnings from sales.

Substitute 50 for x in the regression equation to calculate the estimated earnings.

When x = 50, y = 0.09 * 50 + 2.2 = 41.2.

Therefore, if a small company has $50.0 million in sales, the estimated earnings are $41.2 million.

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6. Determine the estimated sales if 40 contacts are made. 17. FILE A recent article in Bloomberg Businessweek

The demeanor of a person can spell a make or break during the conduct of a job interview. Agree or Disagree? Justify.

Answers

Agree. The demeanor of a person can indeed make or break their chances during a job interview.

The way an individual presents themselves and interacts with the interviewer can have a significant impact on the interviewer's perception of their suitability for the role. Here's why:

Firstly, demeanor reflects a candidate's level of professionalism and confidence.

An individual who exudes confidence, maintains eye contact, and displays good posture conveys a sense of self-assurance and competence.

This can instill trust in the interviewer and create a positive impression.

Conversely, a candidate who appears nervous, fidgety, or lacks confidence may be perceived as unprepared or uncertain, raising doubts about their ability to handle the responsibilities of the job.

Secondly, demeanor influences communication and interpersonal skills.

Effective communication is crucial in an interview, and a candidate's demeanor plays a key role in conveying their thoughts and ideas clearly.

An individual who speaks articulately, listens attentively, and engages in a respectful and professional manner is more likely to be viewed as a strong candidate.

On the other hand, poor communication skills, such as speaking too softly, interrupting, or being overly aggressive, can hinder effective interaction and diminish the interviewer's perception of the candidate's fit for the position.

Lastly, demeanor reflects an individual's attitude and cultural fit. Job interviews often assess a candidate's compatibility with the company's values and work environment.

A positive demeanor that demonstrates enthusiasm, adaptability, and a willingness to learn can greatly enhance a candidate's chances.

Employers are not only looking for someone with the right skills but also for someone who can work well within the team and contribute positively to the company's culture.

Conversely, a negative or indifferent demeanor may signal a lack of enthusiasm or compatibility, leading the interviewer to question the candidate's potential contribution to the organization.

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In the video in the Learning Activity titled “Writing SMART Goals,” the presenter gives the “do’s and don’ts” of SMART Goals. Make a list of all of the words the presenter says should not be used to write SMART Goals. Choose one of these words and explain why it would be detrimental to the goal to include this word. Then, write your own SMART Goal for a business or personal project. What words did you use that you think make your goal SMART? List at least three reasons why you think SMART Goal setting is beneficial. Do you think SMART goals are motivating? Why or why not?

Answers

SMART stands for five words that help people make goals that are  Specific, Measurable, Achievable, Relevant, and Time-bound.

What are SMART Goals?

When making goals, it's best to stay away from words or phrases that may cause confusion or not make things clear. Using complicated words in SMART goals can be bad because they are not clear and specific.

The Benefits of SMART Goal Setting:

It gives ClarityIt helps one to be FocusIt helps in Measurement and EvaluationIt is a tool of Motivation

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Question 1: Topic - Bank Reconciliation
The 2020 June bank statement of Wheeler Ltd has just been received from its bankers. The owner, Ken
Wheeler, has been quietly monitoring internal controls over few months and has sufficient grounds to
believe that cash is being misappropriated in his business. He has approached an accounting consultant,
Tony, to verify his accounting records and confirm his worst fears. Tony is supplied with the
reconciliation statement at the end of last month together with the cash records and the most recent bank
statement of Wheeler Ltd.
Last Month’s Reconciliation statement is presented below:
Bank Reconciliation Statement as at 31 May 2020
($)
Balance as per Bank Statement 30 April 2020 4328.90 Cr
Add: Outstanding Deposit 1224.50
5553.40
Less: Unpresented Cheques 223.70
Balance per Cash at Bank Account at 31 May 2020 $5329.70 Dr
The total of the cash receipts journal for June is $64,776.30 and the total of the cash payments journal is
$63,265.60. The current bank statement shows that cheques presented and paid amount to $59,725.10,
and total deposits amount to $64,780.60. There are also additional debits on the statement for a
dishonored cheque for $210, and account fees for $20.
Additional information:
An examination of the records reveals that all reconciling items at 31 May 2020 appear in the bank
statement for June, unpresented cheques at 30 June total $7154.40, and the 30 June deposit of
$1950.40 has not been credited by the bank. Your check of the cash journals reveals that addition errors
have been made by the clerks responsible. Receipts should total $65,766.30 and payments should total
$63,185.60.
Required:
a) Prepare the Cash at Bank account of Wheeler Ltd showing the final balance at 30 June 2020.
(4 marks)
b) Prepare the bank reconciliation statement of Wheeler Ltd at 30 June 2020. (4 marks)
c) Advice the owner, Ken Wheeler, whether cash is being misappropriated by any amount, assuming
that the records maintained by the bank are accurate. (3 marks)

Answers

Answer:

Wheeler Ltd

Balance per Cash at Bank Account at 31 May 2020 $5,329.70 DR

Total cash receipts for June, 2020                          $65,766.30

less Total cash payments for June, 2020               ($63,185.60)

Dishonored check                                                         ($210.00)

Bank charges                                                                  ($20.00)

Adjusted balance per Cash at Bank                          $7,680.40 DR

Bank Reconciliation Statement at 30 June 2020

Adjusted balance per Cash at Bank                          $7,680.40

Add Unpresented cheques at 30 June total             $7,154.40

Less Uncredited deposits  =                                      ($1,950.40)

Balance as per bank statement, 30 June, 2020    $12,884.40

c) Cash was misappropriated by $1,070 with the under-counting of cash receipts ($990) and overstatement of cash payments ($80).

Explanation:

a) Data and Calculations:

Total cash receipts = $64,776.30 $65,766.30  $990 error understated

Total cash payments =  $63,265.60 $63,185.60 $80 error overstated

Checks presented and paid by bank = $59,725.10

Checks deposited in June =  $64,780.60

Dishonored check $210

Bank charges $20

Additional information:

Unpresented cheques at 30 June total $7,154.40

Uncredited deposits  = $1,950.40

Why is it important to select products and services that represent best value for money

Answers

Answer:

Too low of a price means you forgo potential profits. The most important factor in product price setting is choosing a price low enough that customers perceive they are getting a good value relative to what your competitors are offering and the prices they are charging -- but yet high enough to generate a profit.

Explanation:

yea look at the one on top

Consider the following scenario analysis:



Rate of Return
Scenario Probability Stocks Bonds
Recession 0.30 −6 % 15 %
Normal economy 0.60 18 % 8 %
Boom 0.10 26 % 5 %


a. Is it reasonable to assume that Treasury bonds will provide higher returns in recessions than in booms?



multiple choice
No
Yes


b. Calculate the expected rate of return and standard deviation for each investment. (Do not round intermediate calculations. Enter your answers as a percent rounded to 1 decimal place.)







c. Which investment would you prefer?

Answers

Based on the scenario analysis on stocks and bonds, we know the following:

Treasury bonds will provide a higher return in a recession than in a boom. The expected return of Bonds is 9.8% and that of stocks is 11.6%. The standard deviation of Bonds is 9.24% and that of stock is 11.76%.

What does the scenario analysis on Bonds and Stocks show?

In a recession, Bond returns will be 15%. This is much higher than Bond returns in a boom of only 5%.

The expected return on bonds will be:

= ∑(Probability of Scenario x Returns in scenario)

= (0.30 x 15%) + (0.60 x 8%) + (0.10 x 5%)

= 9.8%

The expected return on stocks will be:

= (0.30 x -6%) + (0.60 x 18%) + (0.10 x 26%)

= 11.6%

Using a spreadsheet, you can input the expected returns of the stocks and the bonds to find the standard deviation to be 9.24% and 11.76%, respectively.

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Feed the Hungry Children, a (fictitious) not-for-profit tax-exempt entity under IRC Sec. 501(c)3, has been in operation for six years. The mission of the group is to provide healthy breakfast meals to children in inner city schools, so they can best learn. A wealthy local philanthropist has been meeting with the organization hoping to change the direction of the organization in return for a $1,000,000 permanent endowment donated to the group. While these negotiations were taking place this year, the organization suspended its normal operations. The draft of the Form 990 for this fiscal year shows 0 revenues and 0 expenses for this fiscal year and penciled in is a $1,000,000 gift from the philanthropist. The treasurer of the Board is drafting the Schedule A for the Form 990 in preparation for reporting to the Board whether the organization's status has changed form a public charity to a private foundation. Go to the www.irs.gov website and obtain Form 990, Schedule A. In your own words, construct an argument to support why this tax-exempt entity is still a public charity.

Answers

Despite the suspension of normal operations and the potential $1,000,000 gift from a wealthy local philanthropist, there is still an argument to support that Feed the Hungry Children, the not-for-profit tax-exempt entity, remains a public charity.

1. Review the requirements for a public charity: According to IRC Sec. 501(c)3, a public charity must receive a substantial part of its support from public contributions and grants and be organized and operated for charitable purposes.

2. Examine the mission and purpose: Feed the Hungry Children's mission is to provide healthy breakfast meals to children in inner city schools, with the aim of helping them learn better. This aligns with a charitable purpose focused on improving the well-being of children and promoting education.

3. Consider the organization's history: Feed the Hungry Children has been in operation for six years, consistently providing healthy breakfast meals to children in need. Its long-standing commitment to charitable activities demonstrates a track record of serving the public interest.

4. Evaluate the potential gift: The $1,000,000 gift from the local philanthropist, although substantial, does not automatically change the organization's status from a public charity to a private foundation. The organization's eligibility is determined by its overall sources of support, not a single donation. If the gift does not significantly alter the public support test, Feed the Hungry Children can still maintain its public charity status.

5. Analyze the Form 990, Schedule A: The treasurer of the Board is preparing the Schedule A for the Form 990, which provides information about the organization's public support and support schedule. By reviewing this form, it will be possible to determine whether the organization's public charity status has changed or if it still meets the required criteria.

6. Document the argument: Compile the findings from the review, emphasizing the organization's charitable purpose, its history of serving the public, and the evaluation of the potential gift's impact on public support. Present these points in a well-structured and persuasive argument to support the conclusion that Feed the Hungry Children remains a public charity.

It is important to consult with legal or tax professionals for accurate and specific advice in interpreting tax laws and regulations related to the organization's status.

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*will give Brainliest if correct!*

Part of File Explorer that is used to access devices, drives, and folders on your computer.

(A) This PC
(B) Location
(C) Status

Answers

Answer:

This PC?

Explanation:

when I go into file explorer, I don't see anything labeled location or status, but when I go into This PC there is nothing that says devices, so I'm not sure. I'm very sorry if I'm wrong

Calvin is the night security officer at a children's museum. What might be one task that Calvin performs as part of his job?

Answers

Making sure none of the displays have been tampered with.

Answer:

viewing video surveillance and conducting walk throughs

Explanation: I took the test

The following data from the just completed year are taken from the accounting records of Mason Company:
Sales $ 651,000
Direct labor cost $ 84,000
Raw material purchases $ 136,000
Selling expenses $ 103,000
Administrative expenses $ 46,000
Manufacturing overhead applied to work in process $ 205,000
Actual manufacturing overhead costs $ 222,000
Inventories Beginning Ending
Raw materials $ 8,700 $ 10,400
Work in process $ 5,200 $ 20,200
Finished goods $ 75,000 $ 25,100
Required:
1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
3. Prepare an income statement.
Required 1
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Mason Company
Schedule of Cost of Goods Manufactured
Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs 0
Cost of goods manufactured Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
Mason Company
Schedule of Cost of Goods Sold
Prepare an income statement.
Mason Company
Income Statement
0
Selling and administrative expenses: 0
$0

Answers

Direct labour and productive labour are the terms used to describe the workers who actually handle and process the various materials, either directly or with the help of machines.

What is meant by direct labor?

Direct labour costs are a part of the wage bill or payroll that can be specifically and consistently linked to or allocated to the production of a commodity, a particular work order, or the provision of a service. The salaries and wages given to workers who are directly involved in the production of a particular good or in rendering a service are referred to as direct labour.

Regular working hours, overtime hours, associated payroll taxes, social welfare, Medicare, unemployment, worker's benefits, retirement plan contributions, medical coverage, and other expenses are all considered to be direct labour costs.

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The following data from the just completed year are taken from the accounting records of Mason Company:Sales$651,000Direct
The following data from the just completed year are taken from the accounting records of Mason Company:Sales$651,000Direct

Technician A says wheel runout is usually measured with a dial indicator measuring in .001. Technician B says runout can occur only in the tire, not the wheel or axle. Who is correct?

Answers

Answer:

Neither Technician A or B are correct

Explanation:

Wheel runout is a term that involves a vehicle tire that's not perfectly round again. Thus, this will mean that the balance of the tires will be thrown off.

In this wheel runout, it can't be measure with a dial indicator and neither can it occur only in the tire..

(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?

Answers

Willie's guest count percentage variance is 9.82%.

How to calculate guest count percentage

To calculate the guest count percentage variance

Use the following formula:

Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%

Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%

Guest count percentage variance = (7,477 / 76,079) x 100%

Guest count percentage variance = 0.0982 x 100%

Guest count percentage variance = 9.82%

Therefore, Willie's guest count percentage variance is 9.82%.

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which of the following items are likely to be normal goods for a tropical customer? which is likely to be inferior goods?
a) Expensive perfume
b) paper plates
c) Secondhand clothing
d). Overseas trips

Answers

Option B. paper plates

As a human resources manager three selection measures you could use to select your targeted employees in 5star international resort. ​

Answers

Answer:

Selection measures simply refer to the yardstick that HR Managers or businesses use to make hiring decisions.

Three litmus tests which the successful candidate must pass are:

1. Culture Fit: An International Resort business with a 5-star rating must have gotten there with the right values, and culture. When a candidates attitudes, beliefs and values mirror that of the organisation, they are said to be culture fit.

2. Job Fit: It is the job of the Human Resources manager to ensure that the candidate can do the job. He or she can achieve this by using various recruitment, selection and interview. For a 5 Start International Resort, for instance, the employees must be very people-centric, courteous and display high levels of social and emotional intelligence.

3. Background Checks: Having satisfied the first two criteria, the prospective employees must have strong references and background checks which reveal:  

consistency in the information provided during the application process; and good standing with their current and or previous employer/colleagues.

Cheers!

Marketing managers from two companies agree that competing to offer the lowest prices has been hurting their profit margins, so they agree on the prices they will charge for some of their key products. What illegal pricing behavior is this? O A. Price discrimination O B. Deceptive pricing C. Price fixing O D. Price gouging​

Answers

Price fixing is the  illegal pricing behaviour is this. Hence, option C is correct.

What is Price fixing?

A written, verbal, or conduct-based agreement to raise, lower, maintain, or stabilize prices or price levels is known as price fixing. Antitrust laws typically mandate that each business establish prices and other competitive terms independently, without consulting a rival.

Competitors who agree to raise, cut, or stable prices are said to have engaged in horizontal price fixing. For instance, a horizontal agreement between two rival fast-food establishments selling hamburgers on the sale pricing of cheeseburgers is prohibited by antitrust rules.

Price fixing is an anticompetitive agreement between players on the same side of a market to buy or sell a good, service, or commodity solely at a set price, or to keep the market's dynamics in such a way that the price is kept at a fixed level.

Thus, option C is correct.

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Answer:

price fixing

Explanation:

Explain the potential daily
bias that managers may encounter.

Answers

Answer: A manager being a key person in an organization, should strive fair judgements as far as possible.

Explanation:

Managers are no exception to a rule of bias-free decisions. But there are some common biases that managers do encounter.

some of the common manager's bias include:-

Stereotypes, which is a general opinion upon  individuals who share a particular trait.

selective perception, If a manager has a negative opinion of an individual, he is more likely to pay more attention to negative behaviors or actions from that individual and ignore the positive actions of that individual.

confirmation bias, first impression bias, which involves giving too much preference to their first impression of an employee and ignoring the other actions

recency bias is of the exactly opposite of the first impression bias.

Spillover Bias, can change a manager’s perspective by paying too much attention to past information rather than on the present one.

Negativity Bias, The negativity bias is an common characteristic of human nature.

Ingroup Bias, The ingroup bias is basically a way in which managers might tend to show favoritism in judgment.

explain 5 ways in which business studies is a living subject​

Answers

Five ways in which business studies is a living subject:

Evolving technologiesEconomic shiftsChanging consumer preferencesSustainability and ethical issuesGlobalizationHow is business studies a living object ?

Business studies is an ever-evolving subject that continuously updates itself to reflect the latest developments and trends in the contemporary business environment. The dynamic global economy, characterized by recessions, inflation, and changing trade policies, can have significant consequences on businesses. It compels them to adapt quickly in order to remain profitable.

Furthermore, as society shows a growing inclination towards sustainability and ethical concerns, businesses must incorporate these principles into their practices. This highlights the importance of keeping up-to-date with these changes for students studying in business studies so they can gain success in today's innovative business world.

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5 Components Of Business Studies?
Economical Environment
Political Environment
Social Environment
Legal Environment
Technological Environment
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