Process costing is a method that is utilized by companies to determine the manufacturing costs of the products.
The following are the steps to be followed to assign costs to units of product using process costing. Identify the total costs to be accounted for. Record the physical flow of resources. Compute the equivalent units of production. Assign costs to batches of work. Compute the costs per equivalent unit. Here is an explanation of the above steps in detail:1. Identify the total costs to be accounted for. The first step in the process costing method is to identify the total cost to be accounted for. This involves the identification of all the costs incurred during the production process. The costs may include direct materials, direct labor, and manufacturing overhead.2. Record the physical flow of resources. The second step is to record the physical flow of resources. This involves tracking the movement of materials and labor throughout the production process. The records should show when materials were received, when they were used, and when they were completed.3. Compute the equivalent units of production. The third step is to compute the equivalent units of production. This involves determining the number of units produced and the degree of completion of the production process.4. Assign costs to batches of work. The fourth step is to assign costs to batches of work. This involves allocating the total costs of production to the different batches of products.5. Compute the costs per equivalent unit. The final step is to compute the costs per equivalent unit. This involves dividing the total cost of production by the total number of equivalent units produced. This gives the cost per unit of production.
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Because Pure Foods is the only provider of responsibly farmed, sustainable beef products in the Midwest, it has achieved ______. Multiple choice question. market segmentation a core value production control a competitive advantage
Answer: a competitive advantage
Explanation:
Pure Foods is the only provider of responsibly farmed, sustainable beef products in the Midwest, it has achieved a competitive advantage. Hence, option D is correct.
What is meant by competitive advantage?Competitive advantage is the benefits that a company get over their rivalry as they have some sort of specification in their products and they product extra of something, it might be the cheap rates than the competitors.
These factors provide the producing unit the advantage over rivals in terms of sales or margins. The four basic methods for gaining a competitive edge are cost leadership, differentiation, defensive strategies, and strategic alliances.
One of the three basic types of competitive advantages that businesses can actually take advantage of. They are price, the uniqueness of the good or service, and niche marketing techniques.
Thus, option D is correct.
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when individuals or organizations make independent decisions and actions that can be detrimental in a mass casualty incident, this is known as
When individuals or organizations make independent decisions and actions that can be detrimental in a mass casualty incident, it is known as "freelancing".
Freelancing refers to the act of acting outside of the established chain of command or predetermined plans during an emergency situation. Freelancing can be very dangerous in a mass casualty incident as it can lead to confusion, inefficiency, and further harm to victims. Freelancing can also cause conflict and disagreements between responders, which can further hinder the emergency response efforts. It is important for all responders to work together and follow the established protocols and chain of command during a mass casualty incident to ensure the most effective and efficient response possible. Proper communication and coordination between responders can prevent freelancing and ensure that the emergency response efforts are successful in saving lives and minimizing harm.
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Which of the following generates pressure to increase inventories? Pick all that apply.
Group of answer choices
Ordering costs
insurance costs
storage and handling costs
costs of theft
Ordering costs, insurance costs, storage, and handling costs, and costs of theft can all create pressure to increase inventories.
Inventory increases can result from any of the following costs: ordering costs, insurance costs, storage, and handling costs, and costs of theft.
Inventory ordering costs: A corporation's ordering expense is the sum of all the costs it incurs while placing an order. These expenditures are incurred when an order is placed and are not incurred when an order is received.
Costs of ordering typically involve the expenses incurred in order placement. The cost of placing an order is determined by multiplying the cost of a single order by the number of orders placed in a given period.
The carrying cost of inventory includes storage and handling costs, taxes, insurance, depreciation, and the opportunity cost of capital. The higher the carrying cost of inventory, the more expensive it is to maintain an inventory level. If ordering costs are less than carrying costs, a corporation will order more frequently, which will result in smaller inventory holdings.
Inventory insurance costs: Insurance costs are incurred by a company when it purchases insurance. Insurance is a coverage that protects against possible losses caused by unforeseen events. Insurance premiums are calculated based on the risk associated with the activity being insured.
Inventory storage and handling costs: Costs incurred in storing and handling inventory. These expenditures can vary depending on the type of inventory. The cost of storing inventory will rise as the inventory's size and weight increase. The cost of storing perishable goods would be higher than the cost of storing non-perishable goods. Inventory storage costs include the costs of operating warehouses, shelves, racks, and other storage facilities.
The handling cost of inventory involves the cost of loading and unloading trucks, the cost of moving goods around the warehouse, and the cost of packing and unpacking goods.
Inventory theft costs: Inventory theft costs are costs incurred by a company due to theft. The cost of inventory theft can be significant and can result in increased inventory holdings. Inventory theft costs include the cost of security measures, insurance, and lost or damaged goods that result from theft.
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Who are the majority of businesses in resort towns targeted to?
O
seniors
O
tourists
O
employees
investors
The majority of businesses in resort towns target tourists.
Who is the luxury hotel industry's target customer?As you can see, a wide range of people from across all walks of life who are prepared to pay a little extra for the luxury hotel experience makes up the target audience for luxury hotels.
What advantages come from forming and focusing on prospect groups?Overall, specialization is the main advantage of identifying and pursuing niche markets. Finding more wealthy guests who will gush about your hotel will be easier if you can be more precise with your market segmentation.
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An objective of the expense recognition (matching) principle is to have bad debt expense debited in ______.
Answer:
An objective of the expense recognition (matching) principle is to have bad debt expense debited in ,Nation matching,
outline 2 advantages to H&H of using secondary market research
Demand-pull inflation happens when the demand for goods
remains very low.
shifts up and down.
matches the supply.
increases.
Demand-pull inflation occurs at the time when the demand for goods increased.
The following information regarding the demand-pull inflation is:
It represents the imbalance impact with respect to the aggregate supply & demand. At the time when the aggregate demand outweighted the aggregated supply so the price should increased. Due to this, the demand should increased that means high prices.Therefore we can conclude that demand-pull inflation occurs at the time when the demand for goods increased.
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Answer:
Demand-pull inflation happens when the demand for goods increases.
Explanation:
option D
How did Apple become successful?
Answer:
Apple went public in 1980, but Jobs eventually left—only to triumphantly return several years later. Apple's success lies in a strategic vision that transcended simple desktop computing to include mobile devices and wearables. Both performance and design are key drivers of the Apple brand and its ongoing success.
Explanation:
Lin Corporation has a single product whose selling price is 120 and whose variable expense is 80 per unit. The company's monthly fixed expense is 50,000 .
(b) Using the formula method, solve for the unit sales that are required to earn a target profit of 15,000.
Using the formula method, the unit sales that are required to earn a target profit of 15,000 is 1625 units.
Given information:
selling price = $120 per unit
variable expense = 80 per unit
monthly fixed expenses = $50,000
And target profit = $15,000
The contribution margin per unit is to be calculated first for the formula method.
Therefore, contribution margin per unit = selling price per unit - variable expense per unit
Substituting the values in the above formula we get,
contribution margin per unit = $120 - $80
= $40 per unit
Using the formula method to calculate the units sold to achieve target profit is,
Units sold for profit = (fixed expenses + target profit)/contribution margin per unit
Substituting the values in the above formula we get,
Units sold for profit = ($50000 + 15000)/$40
= $65,000/$40
= 1625 units
Hence, 1625 units should be sold to achieve the target profit of $15,000.
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Personal likes and dislikes affect the elasticity of a good or service.
Responses
a true
b false
Answer: B
Explanation:
B false.
Personal likes and dislikes do not affect the elasticity of a good or service. Elasticity refers to the responsiveness of demand or supply to changes in price or income, and is determined by factors such as the availability of substitutes, the necessity of the good or service, and the proportion of income spent on it.Personal preferences may influence the demand for a good or service, but they do not directly affect its elasticity. For example, if someone really likes a certain brand of coffee, they may be willing to pay a higher price for it, but this does not necessarily make the demand for that brand of coffee more or less elastic.
Therefore, the statement "Personal likes and dislikes affect the elasticity of a good or service" is false.
Woodsmith magazine gave instructions on how to build a pine cupboard. Lumber will be needed for two shelves 1134 inches long, two base sides 1112 inches long, and two door stiles 2918 inches long. Your lumber comes in 6 foot lengths. A. How many feet of lumber will you need? (Enter your fraction in lowest terms.)
Answer:
Hi there!
You'll need 860.67 feet of lumber.
Explanation:
First we calculate the needs of lumber in inches
Shelves: 2 x 1,134 = 2,268 inches
Base Sides: 2 x 1,112 = 2,224 inches
Door stiles: 2 x 2,918 = 5,836 inches
Total inches long of lumber needed:
2,268 + 2,224 + 5,836 = 10,328 inches
Then we convert the unit of measure from inches to feet:
One inch equals 0.08333 feet.
10,328 x 0.08333 = 860.67 feet
6. Identify a change in technology during each of the time periods in history below that you believe improved the
way marketing activities were completed. List the example and explain how it contributed to marketing during
that time.
(a) 1900s to 1930s
(b) 1930s to 1950s
(c) 1950s to 1980s
(d) 1980s to today
Answer:
Answer:
Prior to the 1950s, the production orientation generally held true due to the growing numbers of affluent and middle class people that capitalism had created.
Say’s Law states that the “production of commodities creates, and is the one and universal cause which creates, a market for the commodities produced”.
The emphasis of firms adopting a production orientation of marketing would have been based on the theory of economies of scale, which are the cost advantages that an enterprise obtains due to expansion.
15 $ x 140 hours a month
15 × 140 × 12
= $ 25200
IT IS 15 TIMES THE HOURS TIMES THE MONTHS SINCE THERE ARE TWELVE MONTHS
Complete the sentences to describe two different ways to rearrange slides in PowerPoint.
In
View, go to the slide deck.
Then,
a slide thumbnail to a new position.
Or, in
View, drag and drop slides to a new location in the presentation.
Answer:
In normal view, go to the slide deck.
Then, click and drag a slide thumbnail to a new position.
Or, in Slide Sorter View, drag and drop slides to a new location in the presentation.
that payments to foreign government officials for routine matters such permits and licenses are the way business is done in mexico, and less likely to raise serious concerns under the fcpa.T/F
The given statement "Payments to foreign government officials for routine matters such as permits and licenses are the way business is done in Mexico, and less likely to raise serious concerns under the FCPA" is False.
The reason is that it contradicts the Foreign Corrupt Practices Act (FCPA), which is a United States law that prohibits bribing foreign government officials for business purposes.
The FCPA applies to all U.S. companies and individuals, regardless of where the bribery takes place. Engaging in such bribery activities, even if considered common practice in a particular country, is illegal and can lead to severe consequences under the FCPA.
It is important for companies to adhere to anti-corruption laws and adopt ethical business practices globally.
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What is the difference between using an action button to play an audio file via 'play sound' and an audio clip set up through the Media Group?
Answer: The action button lets users play the audio file, the sound button will play an audio clip.
Explanation:
The action button lets users play the audio file once it is clicked or has a mouse over action over the assignment button. The sound button will play an audio clip that you have specified in the action settings dialog box.
The equation Assets = Liabilities + Owner's Equity is called the
Answer:
Accounting Equation
Explanation:
The accounting equation forms the basis of preparing a balance sheet and the double-entry accounting concept.
The accounting equation is presented as Assets = Liabilities + Shareholder’s Equity. The balance sheet presentation follows this concept. It is divided into three segments, assets, liabilities, and equity.
The double entry concepts will record entries affecting assets in the same manner. Those affecting liabilities and equity are recorded similarly. The entries of assets balance the entries of equity and liabilities.
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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The foundation of a marketing plan.
Answer:
Every marketing plan should include a clear explanation of the market segmentation, target market focus, and a market forecast. To develop an effective plan based on your customers' needs and nature.
QUESTION 13 of 20: You own a dance studio. You have assets of $512,667 and equity of $268,964. What is your liabilities total?
оооо
a) $243,703
b) $268,964
c) $512,667
d) $781,631
Answer:
243,703
Explanation:
ow are derivatives used? evidence from the mutual fund industry, journal of finance, 1999, vol. 54 (pg. 791-816)
In the journal article "Evidence from the Mutual Fund Industry" published in the Journal of Finance in 1999, the use of derivatives in the mutual fund industry is explored. Derivatives are financial instruments whose value is derived from an underlying asset or benchmark.
In the context of the mutual fund industry, derivatives are used for various purposes, including risk management, speculation, and enhancing returns. Here are some examples:
1. Risk management: Mutual funds use derivatives to hedge against potential losses. For instance, they can use futures contracts to protect against declines in the value of their portfolio holdings.
2. Speculation: Some mutual funds actively trade derivatives to speculate on market movements. This can involve taking leveraged positions or using options to profit from anticipated price changes.
3. Enhancing returns: Derivatives can be employed to enhance a fund's returns. For instance, a fund manager might use options strategies to generate income or reduce the fund's expenses.
It's important to note that the use of derivatives involves risks and complexities that require skilled management. Therefore, it's essential for investors to understand the underlying strategies and associated risks when investing in mutual funds that employ derivatives.
In summary, derivatives play a significant role in the mutual fund industry, enabling funds to manage risks, speculate on market movements, and potentially enhance returns.
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What is an independent agency? Group of answer choices an executive branch organization that is part of a cabinet an executive branch organization that is very much like a government corporation an executive branch organization that is established by Congress an executive branch organization that has broad powers to provide a public service that is either too expensive or too important to be left to private companies both c and d
C) An executive branch organization that is established by Congress.
An independent agency is what?Federal executive departments (those led by a Cabinet secretary) and the Executive Office of the President do not constitute independent entities of the United States government. In a more specific sense, the term only refers to those independent agencies that, despite being regarded as members of the executive branch, have the power to regulate or make rules and are exempt from presidential control, typically because of the president's ability to fire the agency's head or a member is constrained.
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drawing increase the investment of the owner true or false
One challenge presented by the volume of big data is that _____.
it reduces the accuracy of analyses and the ability to improve matters through decisions
corporations have reacted by taking too many precautions to protect customers' security
there are few rules, regulations, or standards to guide U.S. IS organizations
business users can have a hard time finding the information they need to make decisions
The correct option is A ; it reduces the accuracy of analyses and the ability to improve matters through decisions.
This data must be examined in order to improve decision making. Nonetheless, there are several Big Data problems that businesses face. They include data quality, storage, a paucity of data science personnel, data validation, and data aggregation from many sources. Volume. The first of the five V's of big data is volume, which refers to the quantity of data that exists. Volume is the foundation of big data since it is the initial quantity and amount of data collected. When the volume of data is vast enough, it is referred to as big data.
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1. Employees at a call centre have earned a bonus of 0.25% of their salary. The bonus that an
employee who earns £18000 per year can expect to receive is: (1)
А
B
£45
£72
£720
£4500
с
D
Answer:
£45
Explanation:
Simply multiply 18000 by 0.0025 and you get your result.
(T/F) Deregulation includes reducing government control over some aspects of the private industry while increasing control of other
True. Deregulation refers to reducing government control over certain aspects of the private industry, such as eliminating regulations that restrict competition or require certain standards.
However, it may also involve increasing control in other areas, such as enforcing safety regulations or protecting consumer rights. The goal of deregulation is typically to increase market efficiency and promote economic growth, but it can also lead to potential risks and challenges if not carefully managed. Overall, deregulation involves a complex balancing act between reducing unnecessary government control and ensuring adequate protection and oversight of key industries and sectors.
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identify and discuss SIX essential skills for developing a career in HR, or any other career path, explain how developing each of the identified skills can contribute to the success of an organisation
There are several essential skills that are crucial for developing a successful career in HR or any other career path. Here are six such skills and how they contribute to organizational success:
1. Communication skills: Communication is key in any career, and HR is no exception. Strong communication skills can help you build positive relationships with colleagues, clients, and stakeholders, which can ultimately lead to better outcomes for the organization.
2. Problem-solving skills: Problem-solving skills are essential for identifying and resolving workplace issues. By developing this skill, you can contribute to a more positive and productive work environment.
3. Time management skills: Effective time management can help you stay organized, prioritize tasks, and meet deadlines, which can increase your productivity and contribute to the success of the organization.
4. Leadership skills: As you progress in your career, leadership skills become increasingly important. These skills can help you motivate and inspire others to achieve their goals, which can lead to improved performance and greater success for the organization.
5. Analytical skills: The ability to analyze data and make informed decisions is critical in any career. By developing your analytical skills, you can help your organization make better decisions and improve its overall performance.
6. Adaptability: Finally, in today's rapidly changing work environment, adaptability is essential. By being adaptable and willing to embrace change, you can help your organization stay competitive and achieve long-term success.
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ibm puts investments, people, and work anywhere in the world based on the best mix of costs, skills, and environment and uses sophisticated strategies and technologies to support and coordinate activities. ibm most likely uses a structure.
IBM most likely uses a decentralized or matrix structure. Given the description provided, IBM's approach of putting investments, people, and skills and environment suggests a geographically dispersed and globally integrated organizational model.
In such a model, IBM is likely to have operations and teams located in various regions or countries to leverage cost advantages, access specific skills, and adapt to local market conditions.
A decentralized structure would allow IBM to have greater autonomy and decision-making authority at regional or country levels, empowering them to make decisions based on local knowledge and market dynamics. This structure enables IBM to respond quickly and effectively to diverse customer needs and market opportunities worldwide.
Alternatively, IBM may also employ a matrix structure. A matrix structure combines functional and geographic or product-based reporting lines, allowing for cross-functional collaboration and resource sharing across different regions or business units. This structure facilitates the coordination and integration of activities, leveraging sophisticated strategies and technologies to support global operations while optimizing costs, skills, and environmental factors.
Overall, IBM's emphasis on global presence, cost optimization, and coordination suggests that a decentralized or matrix structure is most likely employed to support its operations.
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How to study using a 450 pg online college textbook in which you are asked detailed questions and scenarios.. It's overwhelming.
Answer:
Explanation:
There are many things in life that will seem overwhelming due to the how large and complex all of the data may be. The best way to get through these moments is to divide the task into smaller parts and sit down and dedicate time to it. For such a textbook divide the total amount of pages and read a little bit at a time, take breaks, reflect on what you have read, answer practice questions, and continue to the next group of pages. You will see after getting started that it is not as overwhelming anymore.
Aspen, Inc. developed a new horse transport device and incurred research and development costs of $250,000. Rather than continue with their own research, Aspen decided to purchase a patent for a similar design from Vail, Inc. for $350,000. What are the total assets and expenses for these developments
Answer:
Total assets= $350,000
Total expenses= $250,000
Explanation:
Aspen incorporation developed a new horse transport device
During the period of the research and development of this transport device a lot of costs were incurred
Expenses can be described as the amount of money that is spent by a company inorder to generate profit
In the scenario described above, Aspen incorporation incurred $250,000 during the period of the transport device development
Hence the total amount of expenses is $250,000
Patent can be described as a type of intangible assets that, although this type of assets is a bit hard to estimate it's value, it is still grouped as an asset.
It is a full right that is given to an organisation, it gives them complete control and access to manufacture or produce a particular product for a long time.
In the scenario described above, Aspen purchased an identical design from Vail incorporation for $350,000
Hence the total assets is $350,000