Answers
Answer:The five characteristics of a traditional economy are: Centering around a family or tribe Existing in a hunter-gatherer and nomadic society Producing only what it needs Relying on a barter system Evolving once it starts farming and settling
Explanation:
Related Questions
How do these three rules apply to your life? Explain them in your words and try to think about how they relate to your financial situation. (Hint: Think about how you earn money and how you spend money, also imagine that you have been offered a credit card with a starting line of credit at $1000)
Rule 1 - Don't have debt rise faster than income, because the debt burden will eventually crush you
Rule 2 - Don't have income rise faster than productivity, because you will eventually become uncompetitive
Rule 3 - Do all that you can to raise your productivity, because in the long run that's what matters most
Answers
The three rules below will help individuals achieve financial stability and security, which is critical for living a happy and stress-free life. They can learn new skills, enroll in courses, read books, and so on to increase their productivity levels.
Rule 1: Don't have debt rise faster than income, because the debt burden will eventually crush you.To avoid falling into a debt trap, one should prioritize their spending. It's always a good idea to live within one's means and avoid spending more than they earn.Rule 2: Don't have income rise faster than productivity, because you will eventually become uncompetitive.It's a good idea to focus on increasing productivity to achieve long-term financial stability. One must avoid situations where they are not productive but are earning more money, as this can make them uncompetitive in the long run.Rule 3: Do all that you can to raise your productivity, because in the long run that's what matters most.Productivity is the most critical factor in achieving financial stability. Increasing productivity can lead to higher earnings, which can help you reach your financial goals faster.Individuals must always make efforts to improve their productivity. It's always a good idea to live within one's means, avoid unnecessary debt, increase productivity, and invest in oneself. In conclusion, the above three rules can be beneficial to anyone looking to achieve financial stability.
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Question 2 of 20
Lexi wants to open an account where she can access the funds she needs to
pay her rent and other bills any time she wants. Which type of account would
be the best option for Lexi?
OA. A checking account
OB. A certificate of deposit
OC. A savings account
D. A money market account
SUBMIT
Answers
The best option for Lexi, who needs access to funds anytime she wants to pay her rent and other bills, would be a checking account (option A).
Checking accounts offer features such as check writing, debit card usage, and online banking, allowing Lexi to conveniently and quickly access her money whenever needed. With a checking account, she can easily pay bills by writing checks or using electronic payment methods.
In contrast, options B and C, a certificate of deposit (CD) and a savings account, respectively, may not be the best fit for Lexi's immediate needs. A CD typically requires the funds to be locked in for a specified period of time, usually ranging from a few months to several years, with limited or no access to the funds until the maturity date.
Option D, a money market account, is another viable choice for Lexi. Money market accounts often offer higher interest rates than traditional savings accounts, and they also provide check-writing and debit card capabilities. However, some money market accounts may have minimum balance requirements or limitations on the number of transactions.
Option A.
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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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The classification and normal balance of the accounts receivable account is: _________.
i. an asset with a credit balance
ii. a liability with a debit balance
iii. an asset with a debit balance
iv. a revenue with a debit balance
Answers
The classification and normal balance of the accounts receivable account is iii. an asset with a debit balance.
What are the accounts receivable?
The accounts receivable account records all the transactions involving customers who do business with the company on credit. Sales transactions are carried out with customers on a credit basis for later payment within the allowed credit period.
Thus, the classification and normal balance of the accounts receivable account is a current asset with a debit balance.
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Ethical Behavior
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Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
questions.
Online Content: Site 1
According to the article, what should you do if you suspect your boss of unethical business practices?
Answers
According to the article, we should report it to the right person when we suspect our boss of unethical business practices.
What are unethical practices?Unethical behaviour is defined as behaviour that deviates from what is morally right or proper for a person, profession, or industry. Individuals, businesses, professionals, and politicians can all act unethically.
According to Catherine Conlan's article, the best thing to do is report it to the appropriate person.
This is clear when the article states, "If you reasonably believe your employer is doing something illegal or unethical, you should first bring it to the attention of your supervisor... If you suspect your supervisor, go through the company's chain of command.
The matter will be investigated by the company. If no one in the chain of command responds, there is usually a government agency involved.
Therefore, reporting to the correct authority is the correct step.
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What role, if any, should the U.S. government take in this issue of setting fair wages in developing countries? What is your definition of a “fair” (living) wage? Would it vary by country?
Answers
Answer:
The role of the US government in setting fair wages in developing countries is a contentious issue. While some advocate for active promotion of fair labor standards and human rights, including wages, through aid and trade agreements, others oppose intervention in other countries' internal affairs. A fair wage definition would vary by country and region due to cost of living, local economic conditions, and cultural norms. A fair wage should suffice to meet workers' basic needs, provide a decent standard of living, and account for skill level, prevailing wage levels, and employer viability. Ultimately, individual countries should determine their own labor laws, but the international community, including the US government, can support fair labor practices through cooperation with governments, labor unions, and civil society organizations in developing countries.
When two or more businesses work together to remove their competition, set prices, and control
distribution, it is called
Answers
Answer:
C. Collusion
Explanation:
When two or more businesses work together to remove their competition, set prices, and control distribution, it is called "collusion".
Collusion is known to be a secret which os seen as illegal agreement between rivals. These rivals conspire to work together in order to achieve and acquire unfair market advantage.
Any act that's effected by collusion is considered to be "void".
Overview: The importance of compensation varies depending on the viewpoint, as stated by Barry Gerhart and Jerry Newman in Compensation. Society views compensation as a measure of justice; managers may view compensation as a major expense or a motivator; employees view compensation as an entitlement or as an incentive. Regardless of the viewpoint, fairness and equity are essential. Compensation must also be up-to-date, competitive in the market, and easy to understand. Aligned pay structures support the way the work gets done, fit the organization’s business strategy, and are fair to employees. Organizations typically task an in house human resource (HR) professional or hire an HR consultant to create and maintain the company’s pay structure. Prompt: In Milestone One, you will address the internal consistency component of a pay structure using the specially designed case scenario. Read the Final Project Case Study (linked to in your course) for detailed information on the requirements for this project. Specifically, you must address the critical elements listed below
c. Create job families for all the roles at the Rockville location. The families may be illustrated in a table or bullet format. List positions within each family based on the difficulty level. Provide a rationale for why jobs were assigned to the various families.
(in the final case study which is a url powerpoint presentation I cant attach, it says The positions needed for the new Rockville location fall into several different job families such as production, office support, and human resources.) hope the update helps.
Answers
Production Supervisor, Responsible for overseeing the production process, ensuring that all processes are running smoothly and efficiently.
Responsible for operating the production equipment, performing tasks to meet quality standards, and ensuring that production is meeting the company's goals. Responsible for operating and maintaining the production equipment and ensuring that it is running safely and efficiently. Responsible for inspecting products and ensuring that they meet the company's quality standards. Rationale, These jobs all require a knowledge of the production process, and the ability to operate and maintain production equipment. The Production Supervisor is responsible for overseeing the production process, while the Production Worker is responsible for operating the production equipment and meeting quality standards. The Machine Operator is responsible for operating and maintaining the production equipment, and the Quality Control Inspector is responsible for ensuring that the products meet the company's quality standards.
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How are laws of supply and demand similar
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pop culture clothiers, inc., sells t-shirts to trendwell stores, inc., under an existing contract. when textile costs increase, trendwell agrees to a price increase, but later wants to cancel the contract. trendwell may cancel the contract immediately. cancel the contract only after accepting a final shipment. cancel the contract only on reasonable notice. not cancel the contract.
Answers
The brand may revoke the written revision to raise the price if there are any missing considerations.
This can happen if, despite the fact that the price was predetermined by their previous contract, the brand accepts in the written agreement to a price increase requested by trend. If a brand violates one or more of the contract's specified requirements, you may be entitled to terminate the agreement. Contract termination is referred to as a "breach" in the legal community, but in order to do so, you must establish that there was a significant breach. Delicioso is not permitted to cancel the contract because a new contract supersedes the previous one and bears the new price rise. Deliciso will suffer a loss if it decides to cancel the contract since it would be required to pay damages and other penalties for breaking the agreement with Coffee Roasters Inc. Delicioso must complete the contract before renegotiating another one in light of this.
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NBM common stock recently paid annual dividend in the amount of $2.25 per share. The analyst’s estimate of the firm’s growth forecast over the next 4 years is 18.00% and over 3 years after that of 16.5%. You expect the firm to slow down in the long run and estimate the long-term growth rate after 7 years to be 6.5%. If the required rate of return on the stock is 11%, what is your estimate of the stock price?
Answers
Using the dividend discount model with given growth rates and required rate of return, the estimated stock price for NBM common stock is calculated by discounting future dividends, resulting in the stock price.
To estimate the stock price of NBM common stock, we can use the dividend discount model (DDM) which calculates the present value of future dividends.
First, let's calculate the dividends for the next 7 years:
Year 1: $2.25 (given)
Year 2: $2.25 * (1 + 18%) = $2.655
Year 3: $2.655 * (1 + 18%) = $3.1399
Year 4: $3.1399 * (1 + 18%) = $3.7029
Year 5: $3.7029 * (1 + 16.5%) = $4.3177
Year 6: $4.3177 * (1 + 16.5%) = $5.0273
Year 7: $5.0273 * (1 + 6.5%) = $5.3485
Next, let's calculate the present value of these dividends using the required rate of return of 11%:
PV = D1 / (1 + r) + D2 / (1 + r)^2 + ... + D7 / (1 + r)^7
PV = $2.25 / (1 + 0.11) + $2.655 / (1 + 0.11)^2 + $3.1399 / (1 + 0.11)^3 + $3.7029 / (1 + 0.11)^4 + $4.3177 / (1 + 0.11)^5 + $5.0273 / (1 + 0.11)^6 + $5.3485 / (1 + 0.11)^7
Finally, summing up the present values, we can estimate the stock price:
Stock Price = PV
Calculating this equation will give the estimated stock price of NBM common stock.
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Importance of the study of organisational buyer behaviour to the personal selling function
Answers
Answer:
The answer is below
Explanation:
The importance of the study of organizational buyer behavior to the personal selling function is that the personal seller can easily realize the expectation of the organizations.
It also assists in determining what makes organizations buy a certain product.
It gives the seller the proper ideas on the type of products preferred by organization buyers such that they can quickly make them available.
It also ensures the seller understands how the organization buyer operates in terms of payments, quality, quantity, and the purpose in which they are buying.
To drive customers to your website, you need to create
Answers
Answer:
Explanation:
To drive customers to your website, you need to create a comprehensive digital marketing strategy that includes various tactics to attract and engage potential customers. Some of the most effective ways to drive traffic to your website are:
Search Engine Optimization (SEO): Optimize your website and its content to rank higher on search engine results pages (SERPs) for relevant keywords.
Pay-per-click (PPC) Advertising: Use paid search ads to target specific keywords and drive traffic to your website.
Content Marketing: Create valuable and informative content, such as blog posts, videos, infographics, and ebooks, that attracts and engages your target audience.
Social Media Marketing: Use social media platforms to promote your content, interact with customers, and drive traffic to your website.
Email Marketing: Build an email list and use it to send targeted and personalized messages to your subscribers, promoting your website and its content.
Influencer Marketing: Partner with influencers in your industry to promote your website and products to their followers.
Referral Marketing: Encourage your existing customers to refer their friends and family to your website, offering incentives for successful referrals.
Affiliate Marketing: Partner with other websites and publishers to promote your products and services, paying them a commission for each sale or lead generated.
By implementing a combination of these tactics and regularly monitoring and adjusting your strategy, you can drive targeted traffic to your website and ultimately convert them into customers.
PLS MARK ME BRAINLIEST
Answer:
A solid marketing plan
Explanation:
I took the test and this was the correct answer
Question 49
A producer may share commission with
O the underwriter of the insurance company
O another licensed but unappointed producer
O the insured to offset a portion of the premium payable
O an unlicensed person who has sold, solicited, or negotiated a policy of insurance
2 of 50 Questions Remaining
Answers
The correct answer to question 49 is that a producer may share commission with another licensed but unappointed producer. b is correct answer
A producer may share commission with another licensed but unappointed producer.
In the insurance industry, a producer is an individual or entity that sells, solicits, or negotiates insurance policies. Producers can be insurance agents, brokers, or other licensed professionals authorized to conduct insurance transactions. Commissions are the compensation received by producers for their services in selling insurance policies.
While producers typically earn commissions based on the premiums paid by policyholders, they may also share commissions with other licensed individuals who are not appointed producers. These individuals are usually part of the same agency or brokerage and contribute to the sales process. By sharing commissions, producers can incentivize teamwork, encourage collaboration, and reward the efforts of their colleagues.
It's important to note that sharing commissions with unlicensed individuals who have sold, solicited, or negotiated insurance policies is generally not allowed. Insurance regulations require that only licensed individuals engage in insurance-related activities. Unlicensed individuals do not have the necessary qualifications, training, and legal authorization to participate in the sales process or receive commissions.
The sharing of commissions with the underwriter of the insurance company or the insured to offset a portion of the premium payable is also uncommon. The underwriter is responsible for assessing risk and determining policy terms, while the insured pays premiums to obtain coverage. Commissions are typically allocated to the producer involved in the sale and are not shared with the underwriter or the insured.
Therefore, the correct answer to question 49 is that a producer may share commission with another licensed but unappointed producer.
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What are some large-scale economic shifts that have created our present service economy
Answers
The capitalist system in the United States is one of the large-scale economic shifts that have created our present service economy
What is meant by an economic shift?Economic change, which can be characterized as a change in the economy's structure, policies, or growth, is one of the external factors that influence company decision-making.
Every country's economy has expansionary and contractionary eras. The levels of employment, productivity, and the overall demand and supply of the country's goods and services are what lead to these changes. These adjustments cause short-term expansionary and deflationary episodes.
An economic system known as a service economy is one in which the provision of services, as opposed to the production of products, is the primary activity. Road construction, medical treatment, food, lodging, and other professional services are some of these services.
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Which of the following is true if you find a better rate on an external 3rd party channel within 24 hours of making a reservation through one of Marriott's direct channels?
Answers
If you find a better rate on an external 3rd party channel within 24 hours of making a reservation through one of Marriott's direct channels, the Marriott’s Best Rate Guarantee policy comes into effect.
Marriott’s Best Rate Guarantee policy is a commitment to providing the lowest rate possible. If you find a lower rate within 24 hours of booking through one of Marriott’s direct channels, Marriott will match that rate and offer an additional discount of 25%.
This policy applies to any Marriott brand including Ritz-Carlton, St. Regis, Westin, Sheraton, Aloft, and othersYou need to first book your reservation through Marriott’s direct channels like Marriott.com, the Marriott Mobile app, Marriott Bonvoy app, the Marriott Reservation Center, or directly with the hotel.
After that, you should look for lower rates on other third-party websites. If you find a lower rate within 24 hours, contact Marriott’s Customer Care team, and they will match that rate plus an additional discount of 25%.The policy does come with some terms and conditions.
The lower rate you find on the third-party website must be for the same hotel, same room type, same dates, same number of guests, same currency, and with the same booking conditions. It also excludes rates that are only available to members of certain groups or organizations, package rates that include flights, car rentals, and other amenities, and rates that are not available to the general public
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A benefit paid for a limited time to eligible workers who are involuntarily unemployed is known as:
Answers
How much is being paid is the only thing you need to consider when considering a job offer True or fals
Answers
Answer:
being paid 1000
Explanation:
1000
What is a retail Growth potential?
Answers
Answer:
decisions related to allocating available resources among different target markets and retail formats
Explanation:
Penn Foster college Graded Project: Ice Cream Systems exam 061227
The goal of this graded project is to create the following financial statements for Ice Cream Systems (ICS):
Balance sheet
Income statement
Post-closing trial balance
The financial statements must be created in one Word document (.doc or .docx file). Alternatively, an Excel workbook may be used (.xls or .xlsx file). A Rich Text Format (.rtf file) may be used by Mac users. The Word, Excel, or Rich Text Format file will be uploaded for grading.
Project Instructions
Set up the General Ledger accounts, Accounts Receivable, and Accounts Payable accounts. Use the following blank forms (make as many copies as necessary). Insert the beginning balances from the Trial Balance and Schedules of Accounts Receivable and Payable. You can also obtain copies of the blank forms by going to the Financial Accounting section of the Penn Foster Library and selecting the Blank Forms tab.
DATE ITEM POST
REF. DEBIT CREDIT BALANCE
DEBIT CREDIT
Answers
Here are the steps on how to create financial statements for Ice Cream Systems (ICS):
The Steps to take
Set up the General Ledger accounts, Accounts Receivable, and Accounts Payable accounts.
Use the following blank forms (make as many copies as necessary). Insert the beginning balances from the Trial Balance and Schedules of Accounts Receivable and Payable.
Record all journal entries for the month.
Post the journal entries to the General Ledger.
Prepare the Balance Sheet, Income Statement, and Post-closing Trial Balance.
Upload the financial statements to the Penn Foster Library.
Here are the specific instructions for each step:Step 1
Use the following blank forms to set up the General Ledger accounts:
blank General Ledger formOpens in a new windowWord Templates Online
blank General Ledger form
Insert the beginning balances from the Trial Balance and Schedules of Accounts Receivable and Payable.
Step 2
Record all journal entries for the month.
Use the following format for each journal entry:
DATE ITEM POST
REF. DEBIT CREDIT BALANCE
Step 3
Post the journal entries to the General Ledger.
To do this, simply enter the date, item, post reference, debit amount, credit amount, and balance for each journal entry in the appropriate columns of the General Ledger.
Step 4
Prepare the Balance Sheet, Income Statement, and Post-closing Trial Balance.
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Question 2
Questions 2 & 3 are related.
One month into your job at Madison square garden, your supervisor requests that you draft an outline of a hospitality event your department will host for the upcoming hockey season. Which principle can be best used for this assignment?
A) Project Management Software
B) Developing an Action Plan
C) S.M.A.R.T goals
D) None of the above
Question 3
Your supervisor reviews your proposed hospitality event and begins to question if the event will be executed at optimal level and if enough resourcesare available at the department’s disposal.Your supervisor is likely questioning the event
A) Feasibility
B) Success
C) Failure
D) Economic impact
Answers
Answer:
B) Developing an Action Plan
Explanation:
What internal dimensions of the company were part of the problems that
occurred?
Answers
why is marketing research important to a business enterprise { essay }
Answers
Answer:
Market research can identify how customers and potential customers might view your business and identify gaps in customer expectations. This is powerful information to have when completing your marketing strategy. Having good market intelligence helps to minimise risks when making key business decisions.
Explanation:
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What is the term used to describe the total amount of money produced by
the sele of goods and services.
Answers
GP is the amount of money made by good and services inside of country
Martinson Inc. manufactures industrial-sized landscaping trailers and uses budgeted machine-hours to allocate variable manufacturing overhead. The following information pertains to the company's manufacturing overhead data: Budgeted output units 40,000 units Budgeted machine-hours 10,000 hours Budgeted variable manufacturing overhead costs for 40,000 units $310,000 Actual output units produced 36,500 units Actual machine-hours used 14,600 hours Actual variable manufacturing overhead costs $350,400 What is the budgeted variable overhead cost rate per output unit
Answers
Answer:
Overhead rate per unit= $124
Explanation:
Giving the following information:
Budgeted output units 40,000 units
Budgeted machine-hours 10,000 hours
Budgeted variable manufacturing overhead costs for 40,000 units $310,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 310,000 / 10,000
Predetermined manufacturing overhead rate= $31 per machine hour
Now, for each unit:
Machine hours per unit= 40,000/10,000= 4
Overhead rate per unit= 31*4
Overhead rate per unit= $124
Put in chronological order the events that take an economy from its original long-run equilibrium to a new long-run equilibrium.
a. Stock prices rise in the United States, increasing citizens’ real wealth.
b. Aggregate demand shifts to the right, increasing the price level in the short run.
c. Gradually, all prices in the economy adjust to the demand shift.
d. Short-run aggregate supply shifts to the left, returning to long-run equilibrium and a higher price level.
Answers
Answer:
b. Aggregate demand shifts to the right, increasing the price level in the short run.
a. Stock prices rise in the United States, increasing citizens’ real wealth.
d. Short-run aggregate supply shifts to the left, returning to long-run equilibrium and a higher price level.
c. Gradually, all prices in the economy adjust to the demand shift.
Explanation:
The above arranged statement are the chronological order of the events which takes an economy from its original long-run equilibrium to a new long-run equilibrium.
Which of these is a correct statement regarding the fifo method of accounting for inventory? a) during periods of increasing inventory prices, the cost of goods sold will be higher. b) during periods of increasing inventory prices, lower taxable income will result. c) during periods of declining inventory prices, lower taxable income will result. d) during a period of declining inventory prices, higher taxable income will result.
Answers
The ending inventory under FIFO is determined by the most recent units bought. First In, First Out is referred to as FIFO in this context. This approach of inventory valuation prioritizes sales of the earliest-purchased items.
What does the accounting term "FIFO" mean?First in, first out (FIFO) is an uncomplicated approach of inventory valuation based on the presumption that commodities acquired or created first are sold first. This suggests that, in theory, older inventory gets distributed to customers before new inventory.
Which statement about the FIFO inventory method is accurate?The right response is d. Compared to the LIFO approach, the FIFO method will report a higher inventory balance and a lower cost of products sold in the event of rising prices.
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At the beginning of the year, Stam Co. had 200,000 shares of common stock issued and outstanding. On March 31, the company issued 40,000 additional shares. On July 1, it declared and distributed a 50% stock dividend and on September 30 repurchased 10,000 shares as treasury stock. What amount of shares should Stam use to calculate basic earnings per share
Answers
The amount of shares that Stam should use to calculate basic earnings per share is 360,000 share.
Basic earnings per share
Shares outstanding at the beginning of the year 200,000 shares
Add additional shares issued 40,000 shares
Total shares outstanding 240,000 shares
(200,000+40,000)
Add 50% stock dividend distributed 120,000 shares
(50% x 240,000)
Basic earning per share 360,000 shares
(240,000+120,000)
Inconclusion the amount of shares that Stam should use to calculate basic earnings per share is 360,000 share.
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what are the two aspects of the evaluation process in Step 5 for Taking Marketing Action? Why is this important
Answers
The two aspects of the evaluation process in Step 5 for Taking Marketing Action are:
Implementation and control. They ensure that the entrepreneur is following through on his plans.What are the required steps?The required steps for taking marketing action are: stating a mission, analyzing the situation in question, drawing a plan, stating the marketing mix, and then implementing and establishing controls.
The last two steps are important because they help to ensure that the drawn plans are followed to the teeth. They also help the entrepreneur to remain on track while trying to establish a workable structure.
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Assuming a perpetual inventory system and using the first-in, first-out method, determine (a) the cost of the goods sold on October 24 and (b) the value of inventory on hand on October 31.
a. Cost of the goods sold on October 24
b. Inventory value on October 31
Answers
a. The cost of goods sold on October 24 using the FIFO method is $4,950.
b. The inventory on October 31 is 70 units.
a. To determine the cost of goods sold (COGS) on October 24 using the FIFO method, we need to calculate the cost of the units sold based on the order they were acquired. Here's the breakdown:
On October 1, we had 200 units in inventory at a cost of $30 per unit.
On October 7, we sold 160 units. Since the FIFO method assumes the first units acquired are the first to be sold, we take 160 units from the initial inventory of 200. The cost of these units is $30 per unit.
COGS = 160 units × $30 per unit
= $4,800.
On October 15, we purchased 180 units at a cost of $33 per unit. These units are added to the remaining inventory.
Remaining inventory = 200 units (initial inventory) - 160 units (sold) + 180 units (purchased)
= 220 units.
On October 24, we sold 150 units. Since we first consider the units purchased on October 15, we take 150 units from the remaining inventory of 220.
COGS = 150 units × $33 per unit
= $4,950.
b. To determine the inventory on October 31, we consider the remaining units in inventory after the sales. Since we had 220 units after October 15 and sold 150 units on October 24, the remaining inventory is:
Remaining inventory = 220 units - 150 units
= 70 units.
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The correct question is:
Beginning inventory, purchases, and sales for Item Zeta9 are as follows
Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31.
a. Cost of goods sold on October 24
a. Cost of goods sold on October 24
