Susie buys two goods: rounds of golf and massages.Suppose that the price of a round of golf is $20 and the price of a massage is $30.In a typical week,Susie will play two rounds of golf,getting 20 units of satisfaction from the second round.She normally buys three massages each week,with the third giving her 30 units of satisfaction.If she were to buy a fourth massage in a week,it would give her 20 units of satisfaction.If the price of massages is reduced to $15,which of the following outcomes might we expect to occur?
A) Susie would leave her consumption choices unchanged because of diminishing marginal utility in the consumption of massages.
B) Susie would buy more massages and fewer rounds of golf,as predicted by the income effect.
C) Susie would buy more massages and more rounds of golf,as predicted by the substitution effect.
D) Susie would buy more massages and fewer rounds of golf,as predicted by the substitution effect.
Answers
Answer:
D) Susie would buy more massages and fewer rounds of golf,as predicted by the substitution effect.
Explanation:
Let's check the utility that Susie gets from consuming these products.
The second round of golf gives her 20 units of satisfaction at $20 = 20/20 = 1
The third massage gives her 30 units of satisfaction at $30 = 30/30 = 1
But now the price the price for massage has come down to $15. The ratio of their prices would be
20/15 = 1.333
1.3 is greater than 1
So she should substitute golf for massages
Related Questions
Dinklemyer Corporation uses direct labor hours as its single cost driver. Actual overhead costs and actual direct labor hours for the first five months of the current year are as follows. Month Actual Total Overhead Actual Direct Labor Hours January $ 975,000 19,250 February 950,000 18,400 March 860,000 17,000 April 700,000 12,375 May 760,000 13,200 a. Compute the company's estimated variable manufacturing overhead cost per direct labor hour. b. Estimate the company's total monthly fixed manufacturing overhead cost. c. Estimate the company's total manufacturing overhead for June through August if 40,000 total direct labor hours are budgeted for that specific three-month period.
Answers
Answer:
a. Estimated variable manufacturing overhead cost per direct labor hour = $40 per hour
b. Total monthly fixed manufacturing overhead cost = $205,000
c. Total manufacturing overhead for June through August = $2,215,000
Explanation:
a. Compute the company's estimated variable manufacturing overhead cost per direct labor hour.
Difference between high and low overhead = January overhead - April overhead = $975,000 - $700,000 = $275,000
Difference between high and low Direct Labor Hours = January Direct Labor Hours - April Direct Labor Hours = 19,250 - 12,375 = 6,875
Therefore, we have:
Estimated variable manufacturing overhead cost per direct labor hour = Difference between high and low overhead / Difference between high and low Direct Labor Hours = $275,000 / 6,875 = $40 per hour
b. Estimate the company's total monthly fixed manufacturing overhead cost.
Total monthly fixed manufacturing overhead cost = High overhead - (Estimated variable manufacturing overhead cost per direct labor hour * High direct labor) = $975,000 - ($40 * 19,250) = $205,000
c. Estimate the company's total manufacturing overhead for June through August if 40,000 total direct labor hours are budgeted for that specific three-month period.
Total manufacturing overhead for June through August = (Total monthly fixed manufacturing overhead cost * Number of Months from June to August) + (Estimated variable manufacturing overhead cost per direct labor hour * Budgeted direct labor hours) = ($205,000 * 3) + ($40 * 40,000) = $2,215,000
Question 2 of 20
Which of the following reasons for writing a formal business document would
lead you to write a proposal?
A. To describe what tasks you completed during the week
B. To tell your manager a project is on budget and on schedule
C. To convince your manager to use a new meeting organization tool
D. To summarize what happened during a meeting
Answers
I guess the answer is C. to convince your manager to use a new meeting organization tool
Research topics For university student
Answers
There are some research topics for university student such as current events, youth consumption of the harmful substance, social media impact on the children and other concepts.
What is research?The term research on the analysis of the topic and find the solution and the results. Research on the primary and the secondary basis. Research was the collection and the observation of the data analysis.
There are some research topics for university student is:
Current eventsPandemicYouth consumption of the harmful substanceSocial media impact on the childrenAs a result, the concluded on the research topic are the aforementioned.
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Your question is incomplete, but most probably the full question was.
What are the research topic for university student?
The implementation plan should come before the action plan.
False
True
Answers
It is False that the implementation plan should come before the action plan.
What is implementation plan?An implementation plan can as well be regarded as strategic plan which provide the outlines of the steps that the team should take when accomplishing a shared goal or objective.
It should be noted that this plan combines strategy as well as process, and action that will be used in the parts of the project .
The major components of an implementation plan are:
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Develop a managerial report (1,000-1,250 words) summarizing your analysis of the OEI service capabilities. Make recommendations regarding the number of technicians to be used when OEI reaches 20 and then 30 customers, and justify your response. Include a discussion of the following issues in your report:
What is the arrival rate for each customer?
What is the service rate in terms of the number of customers per hour? (Remember that the average travel time of 1 hour is counted as service time because the time that the service technician is busy handling a service call includes the travel time in addition to the time required to complete the repair.)
Waiting line models generally assume that the arriving customers are in the same location as the service facility. Consider how OEI is different in this regard, given that a service technician travels an average of 1 hour to reach each customer. How should the travel time and the waiting time predicted by the waiting line model be combined to determine the total customer waiting time? Explain.
OEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information: (a) probability that no customers are in the system, (b) average number of customers in the waiting line, (c) average number of customers in the system, (d) average time a customer waits until the service technician arrives, (e) average time a customer waits until the machine is back in operation, (f) probability that a customer will have to wait more than one hour for the service technician to arrive, and (g) the total cost per hour for the service operation.
Do you agree with OEI management that one technician can meet the average 3-hour service call guarantee? Why or why not?
What is your recommendation for the number of service technicians to hire when OEI expands to 20 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What is your recommendation for the number of service technicians to hire when OEI expands to 30 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What are the annual savings of your recommendation in Question 6 (above) compared to the planning committee's proposal that 30 customers will require three service technicians? (Assume 250 days of operation per year.) How was this determination reached?
Answers
The purpose of this research is to examine the service proficiency of OEI and suggest suitable staffing levels for accommodating a growing clientele of 20 and 30.
1. Arrival Rate for Each Customer: 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
3. Travel Time and Waiting Time: The waiting time starts from the moment the customer contacts OEI until the machine is back in operation, including both travel and repair time.
What is the managerial report1. Arrival Rate for Each Customer: 1.25 customers per hour.
Based on historical data, the arrival rate for each customer is calculated by dividing the total number of customers by the total time. let us say that OEI receives an average of 10 customers per day, and the service operates for 8 hours a day. So, the arrival rate per customer is:10 customers / 8 hours
= 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
The service rate takes into account the time required to complete a repair, including travel time. OEI estimates that each service call takes approximately 1 hour for travel time and 2 hours for the actual repair. So, the service rate is:1 customer / 3 hours
= 1/3 customers per hour.
3. Travel Time and Waiting Time:
OEI is different from traditional waiting line models since service technicians need to travel an average of 1 hour to reach each customer. In this case, the travel time and waiting time predicted by the waiting line model should be combined to determine the total customer waiting time.Learn more about managerial report from
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Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $155 Units in beginning inventory 200 Units produced 2,020 Units sold 1,760 Units in ending inventory 460 Variable costs per unit: Direct materials $ 49 Direct labor $ 29 Variable manufacturing overhead $ 11 Variable selling and administrative expense $ 14 Fixed costs: Fixed manufacturing overhead $18,180 Fixed selling and administrative expense $33,440 What is the total period cost for the month under variable costing
Answers
Answer:
$76,260
Explanation:
Calculation to determine the total period cost for the month under variable costing
Using this formula
Total Period cost = Variable selling and administrative cost + Fixed manufacturing overhead + Fixed selling and administrative cost
Let plug in the formula
Total Period cost = ($14 × 1,760) + $18,180 + $33,440
Total Period cost =$24,640+$18,180 + $33,440
Total Period cost =$76,260
Therefore the total period cost for the month under variable costing is $76,260
Explain other advantages of the autociatic leadership style. se Se busines
Answers
The autocratic leadership style has several advantages in certain business situations. Firstly, it allows for quick decision-making and efficient execution. In an autocratic leadership approach, the leader has the authority to make decisions without consulting others extensively. This can be advantageous in situations where immediate action is needed or when there is limited time for deliberation. By taking charge and making decisions swiftly, autocratic leaders can ensure that tasks are completed efficiently and objectives are met in a timely manner.
Secondly, autocratic leadership provides clear direction and reduces ambiguity. The leader in this style has a strong control over the decision-making process and can provide clear instructions to their team members. This clarity helps employees understand their roles and responsibilities, minimizing confusion and increasing productivity. Autocratic leaders often set specific goals and expectations, which can be beneficial in situations where precision and adherence to guidelines are crucial.
Additionally, the autocratic style can be effective in organizations or industries that require a hierarchical structure or where strict compliance is necessary. Industries such as the military, manufacturing, or emergency services often rely on autocratic leadership to ensure discipline, maintain order, and promote safety.
However, it is important to note that the autocratic leadership style may not be suitable for all situations or business contexts. It can stifle creativity and innovation by limiting input and involvement from team members. It may also lead to decreased employee satisfaction and motivation, as individuals may feel disempowered or undervalued. Therefore, the autocratic style should be used selectively and combined with other leadership approaches to create a balanced and inclusive organizational culture.
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review the 60 Minutes video on Mark Zuckerberg
The person name and their position at the company
Examples of how their leadership style or qualities impact employee performance and morale
Answers
The leader's leadership style has an impact on group performance and goal achievement since it influences employee behavior.
What is leadership about?A leader's leadership style relates to how he or she directs, motivates, and manages others. A person's leadership style also influences how they strategize and implement plans while keeping stakeholders' expectations and the well-being of the team in mind.
Managers are in charge of guaranteeing team success, fostering a pleasant environment, and solving challenging problems. It motivates people to work harder and see their leaders as more effective.
Effective leadership requires strong communication, inclusiveness, and empowerment, and it has a beneficial effect on morale. A team's morale will rise when communication from the top to the bottom improves under competent leadership.
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When a project has a "hard gate," like being ready on time, how does that affect normal success criteria? Is it fair to judge a project with a critical completion date by normal project success standards? Why or why not?
Answers
Explanation:
The issue that determines the success of a project is usually attributed to managing the scope of the project. Therefore, in some projects, the deadline for completion is not necessarily the most fundamental criterion that will incur your success.
Every project has a defined deadline for the beginning and the end, so the project management must be planned so that the time is sufficient for the execution of its tasks that will lead to the achievement of the objectives and goals.
Therefore, it is not fair to judge a project with a critical completion date, due to the fact that the project was developed and controlled so that success was related to other more important variables for such a project, not only time, but also its effectiveness , cost-benefit, quality, costs, etc.
if a company uses a keystone price of $40, how much was the cost of the item to the company?
it’s $20
Answers
Answer:
variable expense
setting prices low
liquidate some inventory
increased speed of transaction
profit margin
Ada's store lowered prices even lower
selling price
they will likely lower prices
sell at a somewhat lower rate
Explanation:
Answer: its $20
Explanation:
i got it right on my test :D
state any two Accounting concept
Answers
Answer:
Explanation:Concept of conservatism
In contrast to costs, which are recognised earlier when there is a reasonable likelihood that they will be incurred, revenue is only recorded when there is a reasonable certainty that it will be realised. Financial statements produced using this idea typically have a more cautious tone.
Concept of consistency
Once a company decides to employ a certain accounting technique, it should do so going forward. Thus, it is possible to compare financial statements created for various periods in a trustworthy manner.
PLS HURRY!!!!
Write a short paragraph explaining the ecological benefits to high-yield agricultural techniques.
Answers
Answer:
The results suggest that more intensive production methods require less land, cause less soil loss, consume less water and may result in the production of fewer pollutants. Contrary to common belief, results from the study show that organic production is more ecologically damaging than conventional methods.
Explanation:
if the inventory turnover ratio cast co is 5x and its gross profits and sales are $270 million and $1,200 million respectivelly then the inventory account for cast is
a.$180 million
b.$182 million
c.$186 million
d.$196 million
Answers
Answer:
c.$186 million
Explanation:
Calculation to determine what the inventory account for cast is
Using this formula
Inventory account for cast =Sales - Gross profit/Inventory turnover ratio cast
Where,
Sales=$1,200 million
Gross profit=$270 million
Inventory turnover ratio cast =5x
Let x be the inventory account for cast
Let plug in the formula
5x=$1,200 million-$270 million
5x=$930 million
x=$930 million/5
x=$186 million
Therefore the inventory account for cast is $186 million
When you perform a budget analysis you compare a 'projected budget' with a/an_________ budget.
Answers
When you perform a budget analysis you compare a 'projected budget' with a/an Actual budget.
What does an Actual budget mean?The actual budget is the actual revenue you achieve, which usually differs slightly from the static budget prediction due to unforeseeable changes in spending and financial activity from quarter to quarter.
The process of comparing your organization's predicted budget to the amount you actually have in order to determine the variance, or difference, is known as budget vs. actual. The static budget for your company is the amount you expect to earn based on past earnings and expenses.
Bookkeepers perform a budget vs. actual variance analysis to monitor the difference between the static budget predicted at the beginning of each fiscal period, and the actual amount after.
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Using skills, tools, and techniques to help you accomplish goals within a certain amount of time is called:
A. a mental goal
B. a long-term goal
C. a short-term goal
D. time management
Answers
D. Time management refers to the process of using skills, tools, and techniques to help individuals or organizations accomplish their goals within a certain timeframe. It involves planning, organizing, prioritizing, and allocating time effectively and efficiently.
Time management is crucial for both personal and professional success. It enables individuals to make the most of their available time, increase productivity, and reduce stress. By setting specific goals and breaking them down into manageable tasks, individuals can create a roadmap for their actions.
Tools and techniques such as creating schedules, using calendars, setting deadlines, and employing productivity apps can further enhance time management efforts.
Effective time management involves analyzing priorities, eliminating time-wasting activities, delegating tasks when possible, and maintaining focus on the most important objectives. It requires self-discipline, effective decision-making, and the ability to adapt and adjust plans as needed.
By mastering time management skills, individuals can achieve their short-term and long-term goals efficiently while maintaining a healthy work-life balance. So, the correct option is D.
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Cale Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Cale sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 7%. For example, if a hospital buys supplies from Cale that cost Cale $100 to buy from manufacturers, Cale would charge the hospital $107 to purchase these supplies.For years, Cale believed that the 7% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits, Cale decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown:Activity Cost Pool (Activity Measure) Total Cost Total ActivityCustomer deliveries (Number of deliveries) $420,000 5,000 deliveriesManual order processing (Number of manual orders) 624,000 8,000 ordersElectronic order processing (Number of electronic orders)170,000 10,000 ordersLine item picking (Number of line items picked) 675,000 450,000 line itemsOther organization-sustaining costs (None) 650,000 Total selling and administrative expenses $2,539,000 Cale gathered the data below for two of the many hospitals that it serves—Georgetown and Providence (each hospital purchased medical supplies that had cost Cale $38,000 to buy from manufacturers): ActivityActivity Measure University Memorial Number of deliveries 16 28Number of manual orders 0 49Number of electronic orders 18 0Number of line items picked 190 210Required:1. Compute the total revenue that Cale would receive from Georgetown and Providence.2. Compute the activity rate for each activity cost pool.3. Compute the total activity costs that would be assigned to Georgetown and Providence.4. Compute Cale's customer margin for Georgetown and Providence.
Answers
Solution :
1. Calculation of total revenue
Total revenue = cost of goods sold + Markup 7% = Revenue
University = 38000 + 2660 = 40660
Memorial = 38000 + 2660 = 40660
Therefore, markup = cost of goods sold x market up
= 38000 x 7%
= 2660
2. Calculations of Activity rates
Activity rate = activity cost pool / total activity = activity rate
Customer deliveries = 420000 / 5000 = 84
Manual order processing = 624000 / 8000 = 78
Ele order processing = 170000 / 10000 = 17
Line time picking = 675000 / 450000 = 1.5
3. Calculations of Activity costs
Activity cost for University
Activity cost pool = Activity x Activity rate
Customer deliveries = 16 x 84 = 1344
Manual order processing = 0 x 78 = 0
Ele order processing = 18 x 17 = 306
Line time picking = 190 x 1.5 = 285
Total activity cost = 1935
Activity cost for Memorial
Activity cost pool = Activity x Activity rate
Customer deliveries = 28 x 84 = 2352
Manual order processing = 49 x 78 = 3822
Ele order processing = 0 x 17 = 0
Line time picking = 210 x 1.5 = 315
Total activity cost = 6489
4. Calculation of Customer margin
University Memorial
Sales revenue 40660 40660
Less : Cost of goods sold 38000 38000
Gross Margin 2660 2660
Less : Activity cost 1935 6489
Customer Margin 725 -3829
During April , Cavy Company incurred factory overhead as follows : Indirect materials $11,300 Factory supervision labor 4,000 Utilities 460 Depreciation (factory )660 Small tools 330 Equipment rental 790 Journalize the entry to record the factory overhead incurred during AprilIf an amount box does not require an entry, leave it blank
Answers
Answer:
Date Account Title Debit CreditApril Factory Overhead $16,720 Indirect materials $10,500 Wages payable $4,000 Utilities payable $ 500 Accumulated Depreciation $ 620 Small tools $ 370 Equipment rental $ 730
What are the determinants of cultures that you want to cultivate from early of the business?
Answers
The determinants of culture that you would want to cultivate early in business are:
There are several key determinants of culture that businesses may want to cultivate from the early stages of the business:
Values: Establishing a clear set of core values is important for creating a strong organizational culture. Values such as integrity, accountability, and respect can help guide decision-making and behavior within the company.
Leadership: The leadership style and behavior of the company's leaders can have a significant impact on the culture of the organization. Strong leaders who lead by example and promote a positive, inclusive culture can help to foster a culture of excellence and teamwork.
Communication: Clear, open, and transparent communication is essential for building a positive culture. Regular communication and feedback channels can help to ensure that all employees feel heard and valued.
Employee engagement: Encouraging employee engagement and participation in the culture-building process can help to ensure that the culture is embraced by all employees.
Inclusion and diversity: Promoting an inclusive and diverse culture is vital for building a strong, productive, and innovative organization. This includes recognizing, respecting and valuing the differences in perspectives, backgrounds, and experiences of all employees.
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If storing raw poultry in the same refrigeration until as ready to eat raw foods where should the poultry be placed ?
Answers
If stored in the same refrigerator, raw poultry should be reserved on the bottom the shelf below any organized or ready-to-eat items.
Where does raw poultry be stored?This stands especially important in warm weather. Raw poultry should be secured in a bowl or on a platter at the bottom of the refrigerator. Your refrigerator temperature should be 38 degrees to 40 degrees F or lower. Store fresh, raw poultry for no more than one to two days.
Ready-to-eat foods exist stored at the top of the fridge, away from raw foods so that dangerous bacteria cannot transfer from the raw food to the cooked food. Raw meat, poultry, and fish in sealed receptacles to contain them from handling or dripping onto other foods.
Hence, If stored in the same refrigerator, raw poultry should be secured on the bottom of the shelf below any scheduled or ready-to-eat items.
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In general, the better candidates for shortening are: Early tasks opposed to later tasks. Later tasks opposed to early tasks. Burst tasks opposed to merge tasks. Merge tasks opposed to burst tasks.
Answers
Answer:
Early tasks opposed to later tasks.
Explanation:
Shortening is a strategic procedure used by project managers to reduce or shorten a project's duration by cutting the duration of critical path tasks.
The rationale behind shortening of a project is basically to have a competitive advantage or edge in the market. In order to compete successfully, project managers are always expected to be spontaneous in bringing their company's goods and services to the market in a flash.
There are two important ways of shortening a particular project, these are;
1. Crashing.
2. Task splitting.
In project management, the longest task is considered to be the most effective and efficient candidate activities to shorten a project's duration.
In general, the better candidates for shortening are early tasks opposed to later tasks. The early start of tasks represents one of the primary date used in project scheduling and it's the earliest date a project manager commences an activity, with respect to all its predecessors and successors.
Early tasks usually involves the use of an easy approach to project kickoff while later tasks uses the difficult approach.
What is macroeconomics?
Answers
Answer:
Macroeconomics is the study of large scale economic issues such as those which affect the entire economy. This is in contrast to Microeconomics which looks at smaller scale economic principles. Macroeconomics is a highly practical discipline as it deals with principles that directly impact every part of life.
in the following figure, suppose the budget constraint shifted from constraint 2 to constraint 1. what could have caused this change? a. an increase in the price of good y b. a decrease in income c. a decrease in income and an increase in the price of good x relative to good y d. a decrease in the price of good x
Answers
The correct option in the given scenario is (C) a decrease in sales and an increase in price for good x compared to good y.
What is a budget constraint?The total number of products you can buy within your current budget is your budget constraint.
Budget restrictions show the variety of options that can be made while staying within that budget.
The sum or object you forfeit in favor of something else is known as the opportunity cost.
Sunk costs are past expenses that cannot be recouped.
What people can actually spend given their economic constraints is known as effective demand.
So, a decline in revenue and a rise in the cost of good x in comparison to good y.
The budget restriction is shifting inward, which suggests a drop in income.
The price of good x has grown relative to the price of good y, therefore the change is not parallel.
Therefore, the correct option in the given scenario is (C) a decrease in sales and an increase in price for good x compared to good y.
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Complete question:
Suppose the budget constraint shifted from constraint 2 to constraint 1. what could have caused this change?
a. a decrease in income
b. a decrease in the price of good x
c. a decrease in income and an increase in the price of good x relative to that of good y
d. an increase in the price of good y
Which type of taxable income is paid per hour worked?
Answers
A wage
Explanation:
Took the quiz
David is purchasing a home for $127,600. He has 10% to put down on the home and
wishes to pay one discount point. What is the amount of his principle that he will
finance? Please explain your work in your answer.
Answers
QUESTION 15
When the P < AVC for a firm in perfect competition the firm should shut down.
O True
O False
Answers
The statement "When the P < AVC for a firm in perfect competition, the firm should shut down" is FALSE.
In perfect competition, a firm should not shut down solely based on the condition of P < AVC (Price is less than Average Variable Cost). Let me explain why:
1. Perfect competition: In perfect competition, there are many buyers and sellers in the market, and no individual firm has control over the price. Firms are price takers, meaning they have to accept the market price for their product.
2. Shutting down decision: In the short run, a firm should continue producing as long as the price (P) is greater than the average variable cost (AVC). This is because even if the firm is not covering its total costs, it can at least contribute towards covering its variable costs. By shutting down, the firm would incur a loss equal to its fixed costs, which is not beneficial in the short run.
3. Long run perspective: In the long run, if a firm consistently faces prices below average total cost (ATC), it may consider exiting the market. This decision is based on the idea that if a firm cannot cover its total costs, it would be better off using its resources elsewhere or exiting the industry altogether.
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kaizen is the process of
Answers
Answer:
Kaizen, or rapid improvement processes, often is considered to be the "building block" of all lean production methods. Kaizen focuses on eliminating waste, improving productivity, and achieving sustained continual improvement in targeted activities and processes of an organization.
Explanation:
May 1: Prepaid rent for three months, $1,800 May 5: Received and paid electricity bill, $50 May 9: Received cash for meals served to customers, $340 May 14: Paid cash for kitchen equipment, $2,900 May 23: Served a banquet on account, $1,560 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $2,700 May 31: Recorded depreciation for May on kitchen equipment, $570 If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.
Answers
If Sweet Catering had recorded transactions using the Cash method, the net income (loss) they would have recorded for May is ($4,410) instead of ($1,480) under the accrual method.
What is the difference between the cash method and the accrual method?The cash method records revenue and expenses when cash is received or payment is made.
On the other hand, the accrual method recognizes revenue and expenses for the period, whether cash is received/paid or not.
The accrual method records revenue when an invoice is raised and when a bill is received, unlike the cash method.
Transaction Analysis:May 1 Prepaid Rent $1,800 Cash $1,800
May 5 Electricity Expense $50 Cash $50
May 9 Cash $340 Service Revenue $340
May 14 Kitchen Equipment $2,900 Cash $2,900
May 23 Accounts Receivable $1,560 Service Revenue $1,560
May 31 Rent Expense $600 Prepaid Rent $600
May 31 Salary Expense $2,700 Salary Payable $2,700
May 31 Depreciation Expense $570 Accumulated Depreciation $570
Cash Method for Income Statement:Service revenue $340
Expenses:
Rent $1,800
Electricity 50
Kitchen equipment $2,900
Total cash expenses = $4,750
Net income (loss) = ($4,410)
Accrual Method for Income Statement:Service revenue $1,900
Expenses:
Rent $60
Electricity 50
Salary $2,700
Depreciation $570
Total expenses = $3,380
Net income (loss) = ($1,480)
For the purchase of kitchen equipment, the accrual method records depreciation expense for the month while the cash method records the full amount paid for kitchen equipment on May 14.
Thus, a higher net loss is recorded for May when Sweet Catering uses the Cash method than the Accrual method.
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Question 2 of 10
What is the formula for determining productivity?
Answers
Answer: this should help just write it or type it out
Explanation:
At the beginning of the year, accounts receivable were $45,000 and the allowance for bad debts was $4,200. During the year, sales (all on account) were $180,000, cash collections were $165,000, bad debts expense totaled $3,100, and $2,600 of accounts receivable were written off as bad debts. The balance at the end of the year for the Accounts Receivable account was: Multiple Choice $42,400. $54,300. $57,400. $60,000.
Answers
Answer:
$57,400
Explanation:
Calculation to determine what The balance at the end of the year for the Accounts Receivable account was
Using this formula
Ending balance in accounts receivable = Accounts receivable-Accounts receivable written off as bad debts+Sales on account-Cash collections
Let plug in the formula
Ending balance in accounts receivable = $45,000 - $2,600 + $180,000 - $165,000
Ending balance in accounts receivable = $57,400
Therefore The balance at the end of the year for the Accounts Receivable account was $57,400
What is the best way to manage interruptions and emergencies in my day?
Answers
put interruptions on hold and take care of emergencies. priority is challenging but it's worth the work
Answer:
Emergency
Explanation:
Emergency is more important that an interruption.Emergency are more life or death.An interruption is small and yes a bit agervating at time but are less import than a life or death emergency.