Answer:
when He uses a rotor rooter
why is it important to do research to locate appropriate work or study and funding opportunities from various sources (inclusing online)before making the final decision
It is very important to do research to known the level of work or study and funding opportunities from various sources before making the final decision due to the fact that when you don't know the above and you start your research, when you encounter problem halfway such as lack of funds, it may lead to one abandoning the project completely.
Why do one need research funding?Research funding is known to be a key part of conducting any form of research.
Conclusively, For one to be able to have a research grant is said to be a matter of name for a researcher and it also helps in the growth of one's career.
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Which of the following is not one of the factors that change demand?
A.
Consumer income levels
B.
Consumer attitudes toward risk
C.
Population, or the number of consumers in the market
D.
Consumer expectations
E.
Consumer tastes and preferences
All of the factors listed can change demand such as Consumer income levels, Consumer attitudes toward risk, Population, or the number of consumers in the market, Consumer expectations and Consumer tastes and preferences
What are the types of change in demand?Demand can change in two different ways: it can move along the demand curve or it can shift. A shift in the quantity demanded as a result of a change in the good or service's price is referred to as a movement along the demand curve. The quantity demanded will rise when a good or service's price drops, and vice versa. An indicator of this movement is a point on the demand curve. A shift in the demand curve, on the other hand, describes a change in demand brought on by a factor other than the cost of the good or service. Changes in consumer income levels, tastes, preferences, expectations, population, and attitudes towards risk are a few of these factors. The quantity demanded changes at each price level when the demand curve shifts, creating a new market equilibrium point.
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Which of the following is likely to increase the value of a country's currency?
Higher interest rates in a country can increase the value of that country's currency relative to nations offering lower interest rates. Political and economic stability and the demand for a country's goods and services are also prime factors in currency valuation.
A company deposits $2,378 in a bank at the end of every year for 10 years. The company makes no deposits during the subsequent 5 years. If the bank pays 10% interest, how much would be in the account at the end of 15 years?
Answer:
Final Value= $61,037.04
Explanation:
Giving the following information:
Investment= $2,378 in a bank at the end of every year for 10 years.
The company makes no deposits during the subsequent 5 years.
Interest rate= 10%
First, we need to calculate the first 10 years.
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {2,378*[(1.1^10)-1]} / 0.1
FV= $37,899.20
Now, the 5 years:
FV= PV*(1+i)^n
FV= 37,899.2*(1.1^5)
FV= $61,037.04
Select the correct answer how many justices must agree to an opinion for the Supreme Court to issue a decision
A majority of the justices, or five out of the nine on a full Court, must agree. The opinion has been written at this point. This is the court's judgment in writing.
What is the significance of the Supreme Court?In our system of government based on the Constitution, the Supreme Court is incredibly significant.
First and foremost, it acts as the final resort for anyone looking for justice because it is the nation's highest court. Second, it is crucial for ensuring that each arm of government understands the boundaries of its own authority because of its ability to conduct judicial reviews.
Third, it defends civil liberties and rights by overturning unconstitutional legislation. Finally, it establishes reasonable boundaries for democratic government by preventing popular majorities from passing legislation that discriminates against or unfairly benefits unpopular minorities.
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If your business receives a loan for $40,000,
what account will you debit and what
account will you credit?
A. Debit Notes Payable and Credit Cash
B. Debit Cash and Credit Expenses
C. Debit Accounts Payable and Credit Cash
D. Debit Cash and Credit Notes Payable
the answer:
I would do c
An order full film and process has demand for three order types during the next 4 weeks as shown in table 5.1 the assignment of activities to workers and processing time for each activities are shown in table 5.21 all workers have 40 hour per week available to work on this process.
Develop the mathematical model and use Excel Solver to find the number of orders of each type that should be processed to maximize total profit.
TABLE 5.20
Routing, Demand, and Profit Data for Exercise 5.18
OrderType Activities demand profile
Basic 1,2,3 and5. 90 125
Special 1,3,4and6 110 175
Deluxe 2,4,5,and6. 90 200
Table 5.21
Activity time and resource assignment data for exercise 5.18
Activity Time (Min) Employee
1 24 Anne
2 18 Anne
3 25. Meg
4 27 joe
5 15 joe
6 14 Meg
Nov solve it in Excel solver sheet
Using Excel Solver, the optimal solution for the order and process demand is to process 62.5 Basic, 30 Special, and 90 Deluxe orders, resulting in a total profit of $29,875.
To solve this problem using Excel Solver, we need to first create a mathematical model. We can define the decision variables as the number of orders of each type that should be processed.
Let x1, x2, and x3 be the number of orders of Basic, Special, and Deluxe types, respectively.
The objective is to maximize the total profit, which can be calculated as follows:
Total Profit = 125x1 + 175x2 + 200x3
We also need to ensure that the available time of each employee is not exceeded. For this, we can use the following constraints:
24x1 + 18x2 <= 40(Anne's available hours)
25x1 + 27x2 + 14x3 <= 40(Meg's available hours)
15x1 + 27x3 <= 40(Joe's available hours)
We also need to ensure that the demand for each order type is met. For this, we can use the following constraints:
x1 <= 90 (Demand for Basic)
x2 <= 110 (Demand for Special)
x3 <= 90 (Demand for Deluxe)
All decision variables should be non-negative, i.e., x1, x2, and x3 >= 0
Now we can set up the Excel Solver to find the optimal solution. Follow the below steps:
Step 1: Open a new Excel spreadsheet.
Step 2: Enter the demand and profit data in Table 5.20 into the spreadsheet.
Step 3: Enter the activity time and resource assignment data in Table 5.21 into the spreadsheet.
Step 4: Define the decision variables, objective function, and constraints in the spreadsheet as described above.
Step 5: Go to the "Data" tab and click on "Solver" in the "Analysis" group.
Step 6: In the Solver Parameters dialog box, set the objective to "Max" and set the decision variable cells as the range containing x1, x2, and x3.
Step 7: Enter the constraints by clicking on "Add" in the "Constraints" tab of the Solver Parameters dialog box.
Step 8: Click on "OK" to close the "Add Constraint" dialog box and then click on "Solve" in the Solver Parameters dialog box.
Step 9: The Solver will calculate the optimal solution and display the values of x1, x2, and x3 that maximize the total profit.
The optimal solution, as calculated by Excel Solver, is:
x1 = 62.5
x2 = 30
x3 = 90
This means that the company should process 62.5 orders of the Basic type, 30 orders of the Special type, and 90 orders of the Deluxe type to maximize total profit. The total profit will be $29,875.
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The accumulation of years of spending more money than is collected in revenues over several years creates a budget
O debt
O deficit
Osurplus
Oreversal
Answer:
deficit
Explanation:
Indeed, when a government accumulates years of spending more money than is collected in revenues a deficit budget is created as result.
For example, the United States is estimated to have a national debt of about 27 trillion dollars; meaning it has incurred expenses worth more than the total revenues gotten in the country for years. In other to prevent or go out from a deficit budget, more revenue-generating sources needs to be created in the economy so the country can operate a balanced budget.
Answer:
B
Explanation:
Deficit
Drag the tiles to the correct boxes to complete the pairs
Match each phrase with the scenario that illustrates it.
Tiles
-international competition
-consumer sovereignty
-wealth creation
-property rights
-profit motive
Answer:
Explanation:
Here you go! Should help.
Answer:
profit motive, property rights, international competition, consumer sovereignty, wealth creation
Explanation:
<3
Consider the following word problem. Imagine that Dr. White of the French department, Dr. Black of the English department, and Dr. Brown of the Economics department are talking. There is one woman among these three, and she does not have brown hair. During the conversation, The woman notes that "our names are White, Brown and Black and one of us has white hair, one has brown hair and one black." “That is true," replies the person with black hair, "and not one of us has hair that matches his or her name.” "You are so right!" says Dr. White.
From the word problem given, the woman is Dr. Black, and her hair color is white. Dr. White has black hair, and Dr. Brown has brown hair.
What is the hair color of each person, and who is the woman?This is a word problem which we can approach from a different perspective
Let's start by making a table with the information given:
White Brown Black
Name White Brown Black
Gender ? ? ?
Hair ? ? ?
From the first sentence, we know that there is one woman among the three, so we can fill in the Gender row with:
White Brown Black
Name White Brown Black
Gender F ? ?
Hair ? ? ?
From the second sentence, we know that the woman does not have brown hair, so we can fill in the Hair row with:
White Brown Black
Name White Brown Black
Gender F ? ?
Hair B/W ? ?
The Hair row shows the possible hair colors for each person. B/W means that the person can have either black or white hair.
From the third sentence, we know that each person has a different hair color, so we can eliminate the possibility of all three having different hair colors. Therefore, two people must have one of the hair colors (either black or white), and the third person must have the other hair color.
Let's assume that Dr. White has white hair. Then, according to the second sentence, Dr. Brown must have black hair, and Dr. Black must have brown hair. But this contradicts the fourth sentence, which states that none of them have hair that matches their name.
So our assumption was incorrect. Let's assume that Dr. White has black hair. Then, Dr. Black must have white hair, and Dr. Brown must have brown hair. This satisfies all the conditions, and we have a unique solution.
Therefore, the woman is Dr. Black, and her hair color is white. Dr. White has black hair, and Dr. Brown has brown hair.
White Brown Black
Name White Brown Black
Gender F ? F
Hair B B W
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Who will get the better loan rate from the banker and why
Answer:
d. on t4l
Explanation:
harold pays his bills on time.
As you learned more and more about the complexity of the HRM role, what do you view as the most challenging aspect of HRM in the international context? How do you view the impact of expatriates on your role in HRM?
Answer:
The interpretation including its question would be characterized in the explanatory segment elsewhere here.
Explanation:
(a)
The cultural divide is perhaps the most compelling as that of the complexities of corporation dramatically change in something like a foreign environment. Besides example, a thumbs-up gesture, which would be a complimentary sign throughout the West as well as the US, seems to have a different meaning in several other cultural groups and therefore is construed as bad-mannered throughout Asian countries like Thailand, whereby the significance has been less than that of trying to stick someone's hard to both the West.(b)
The negative effect of ex-pats mostly on the position of HRM would be that individuals start making the importance of HRM so much enlightening. The HR seems to be essential for safeguarding expatriates and then for the HR to safeguard foreign nationals, this should understand the ways of foreign residents such that the HR could even start educating other staff mostly on cultural values of migrants.Define a random variable that represents the time in minutes required to assemble the product
A random variable x is a numerical outcome of a probability experiment. There is a numerical value which is determined by chance for each outcome in the procedure or experiment. Therefore, a random variable is used for describing outcomes using numerical values.
x = time in minutes
materials requisition forms are used for ____. multiple select question. a.specifying the cost of materials to be ordered b.summarizing the cost of a job c. controlling the flow of materials into production d. making journal entries in accounting records
Materials requisition forms are used for controlling the flow of materials into production. Hence, option C is appropriate.
What is the meaning of Production?The process of mixing several inputs, both material and immaterial, to produce output is known as production. In a perfect world, this output would be a product or service that is useful to people and has value.
Producing something is the act of creating something out of components or raw resources. To put it another way, the production employs inputs to produce an output that is fit for consumption—a good or product that has value for a customer or end-user.
Hence, option C is correct.
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Your friend Stan owns a coffee shop in a monopolistically competitive industry. One day, Stan tells you (an economist) that he is earning an economic profit and is setting his price equal to his marginal cost. Is Stan producing the profit-maximizing amount of coffee? What should he do?
In a monopolistically competitive industry, each firm has some control over the price it sets due to product differentiation.
Stan mentioned that he is earning an economic profit and setting his price equal to his marginal cost. To determine whether he is producing the profit-maximizing amount of coffee, we need to consider a few factors.
1. First, let's understand the relationship between price, marginal cost, and profit maximization. In a competitive market, profit maximization occurs where marginal cost equals marginal revenue. However, in monopolistic competition, firms have some market power, so the profit-maximizing quantity occurs where marginal cost equals marginal revenue, not price.
2. Setting the price equal to marginal cost does not necessarily guarantee profit maximization. If Stan's price is equal to marginal cost, it means that he is covering his variable costs, but it does not take into account his fixed costs. To maximize profit, Stan should set his price above marginal cost, considering both variable and fixed costs.
3. If Stan is currently earning an economic profit, it suggests that he may not be producing the profit-maximizing amount of coffee. In monopolistic competition, firms tend to have excess capacity, meaning they produce less than the quantity that would minimize average total cost. By increasing his output, Stan may be able to reduce his costs and increase his profit.
Considering these factors, here are a few suggestions for Stan:
- Conduct a cost analysis: Stan should evaluate his fixed and variable costs to understand the full picture of his expenses. By knowing his costs, he can set a more informed price and determine the profit-maximizing quantity.
- Consider demand elasticity: Stan should also assess the price elasticity of demand for his coffee. If demand is relatively elastic, a small price increase may result in a significant decrease in quantity demanded, potentially reducing his profits. On the other hand, if demand is inelastic, Stan may be able to increase his price without a significant drop in sales.
- Experiment with pricing: Stan could consider experimenting with different prices to find the optimal point that maximizes his profit. By monitoring customer response to different prices, he can identify the price that generates the most revenue while covering his costs.
By taking these steps and considering the unique characteristics of monopolistic competition, Stan can better position his coffee shop for long-term success and profitability.
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Which of the following is true of service companies?
O A. Service companies carry no inventories of products for sale.
O B. Service companies modify and resell products they buy from manufacturers.
O C. Revenues of service companies are only recorded on cash receipt.
O D. All costs of service companies are product costs.
imhoff company leases a new building form noble construction, inc. The present value of the lease payments is $700000. The lease is a finance lease. Prepare the journal entry that the lesse should make to record this transaction.
Answer:
Dr right-of-use asset $700,000
Cr lease liability $700,000
Explanation:
The company upon entering into the finance lease would have to show the lease as an asset(right-of-use asset) as well as the lease liability(present value of lease obligations owed to the lessor).
As a result, the company would debit right-of-use asset with $700,000 while lease liability is also credited with the same amount
At the end of 2016, Sheridan Company has accounts receivable of $665,400 and an allowance for doubtful accounts of $23,480. On January 24, 2017, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,415.
(a) Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
(b) What is the cash realizable value of the accounts receivable before the write-off and after the write-off?
a) Journal entry of write off :
Date account titles and explanation debit credit
Allowance for doubtful accounts 4415
Account receivable 4415
(To record amount write off)
b) Calculate cash realizable value :
Before write off After write off
Account receivable 665400 (665400-4415)=660985
Less: Allowance for doubtful accounts (23480) (23480-4415) = (19065)
Cash realizable value 641920 641920
What is Cash realizable value?
The amount of cash left over after deducting the uncollectible amount from an account receivable is known as the cash realisable value. The balance of accounts receivable and the allowance for doubtful accounts on a company's balance sheet are combined to yield this net amount.
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If a $5,000 coupon bond has a coupon rate of 13 percent, then the coupon payment every year is (a) $650. (b) $1,300.
Interventions strategies to prevent restrictions or barrier in small businesses townships
To prevent restrictions or barriers in small businesses in townships, several intervention strategies can be implemented:
1. Business Development Support: Offer training programs, workshops, and mentorship opportunities to help small business owners develop essential skills such as financial management, marketing, and business planning.
2. Access to Capital: Establish microfinance programs or low-interest loan schemes to provide small businesses with the necessary funds to start or expand their operations. Additionally, create partnerships with financial institutions to streamline the loan application process.
3. Infrastructure Improvement: Invest in upgrading township infrastructure, including roads, electricity, and internet connectivity. This will enhance the business environment, attract investors, and facilitate smoother operations for small businesses.
4. Regulatory Simplification: Simplify and streamline licensing and permit procedures, reducing bureaucracy and paperwork burdens. This will make it easier for entrepreneurs to start and operate businesses, fostering a favorable environment for small enterprises.
5. Market Linkages: Facilitate connections between small businesses and larger supply chains, enabling them to access wider markets and secure stable customer bases. This can be achieved through networking events, trade fairs, and partnerships with established businesses.
6. Local Procurement Policies: Encourage local governments and institutions to adopt procurement policies that prioritize purchasing goods and services from small businesses in the townships, thereby boosting their economic growth and sustainability.
7. Collaborative Initiatives: Foster collaboration among small businesses by establishing business associations, cooperatives, or incubation centers. These platforms can provide shared resources, collective marketing efforts, and a supportive community.
By implementing these intervention strategies, the barriers and restrictions faced by small businesses in townships can be minimized, promoting their growth, sustainability, and contribution to the local economy.
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Who here watches black butler (the anime show) also what is 500 x 44 +56 - 4 -9 x 566
Answer: 16,958
(I don’t watch anime)
Explanation:
Categories of rights
Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as percentages of all hamburgers sold): 23 percent, 22 percent, 18 percent, 12 percent, 11 percent, 8 percent, and 6 percent. Instructions: Enter your answers as a whole number. a. What is the four-firm concentration ratio of the hamburger industry in this town? percent b. What is the Herfindahl index for the hamburger industry in this town? c. If the top three sellers combine to form a single firm, what would happen to the four-firm concentration ratio and to the Herfindahl index? Four-firm concentration ratio = percent Herfindahl index =
Answer:
a= 75%
b= 1702
c= 94% , 4334
During the summer between his junior and senior years, James Cook needed to earn sufficient money for the coming academic year. Unable to obtain a job with a reasonable salary, he decided to try the lawn care business for three months. After a survey of the market potential, James bought a used pickup truck on June 1 for $1,410. On each door he painted "James Cook Lawn Service, Phone 471-4487." He also spent $650 for mowers, trimmers, and tools. To acquire these items, he borrowed $2,700 cash by signing a note payable promising to pay the $2,700 plus interest of $85 at the end of the three months (ending August 31).
By the end of the summer, James had done a lot of work and his bank account looked good. This prompted him to wonder how much profit the business had earned.
A review of the check stubs showed the following: Bank deposits of collections from customers totaled $12,800. The following checks had been written: gas, oil, and lubrication, $970; pickup repairs, $310; mower repair, $300; miscellaneous supplies used, $190; helpers, $5,200; payroll taxes, $210; payment for assistance in preparing payroll tax forms, $40; insurance, $165; telephone, $300; and $2,785 to pay off the note including interest (on August 31). A notebook kept in the pickup, plus some unpaid bills, reflected that customers still owed him $850 for lawn services rendered and that he owed $190 for gas and oil (credit card charges). He estimated that the cost for use of the truck and the other equipment (called depreciation ) for three months amounted to $760.
Required:
1. Prepare a quarterly income statement for James Cook Lawn Service for the months June, July, and August. Assume that the company will not be subject to income tax.
The income statement for James Cook Lawn Service shows a balance of $5,120.
The quarterly income statement for James Cook Lawn Service for the months of June, July, and August would look as follows:
Income Statement (Quarterly)
For the Months Ended August 31
Revenues:
Collections from customers $12,800
Accounts receivable $850
Total Revenues $13,650
Expenses:
Gas, oil, and lubrication $970
Pickup repairs are $310
Mower repair $300
Miscellaneous supplies used $190
Helpers $5,200
Payroll taxes $210
Payment for assistance $40
Insurance $165
Telephone $300
Depreciation $760
Interest expense of $85
=$970 + $310 + $300 + $190 + $5,200 + $210 + $40 + $165 + $300 + $760 + $85 = $8,530
Total Expenses $8,530
Net Income = Revenues - Expenses
Net Income $5,120
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Student aid is based on either financial need or _____ need.
A. Merit-based
B. Academic
C. Social
D. Emotional
(Please help I’m confused by all the different answers people are giving and I need to turn this in soon)
Robert has always enjoyed working on cars as a hobby. He feels that he could earn a good living if he opened a mechanics shop. He does not have any startup money at this time, and he does not really know how to get started. Which business organization is best and why? How will he overcome his dilemmas?
There are several business organizations that Robert could consider when starting his mechanics shop. Each has its own advantages and disadvantages, so it is important for Robert to carefully consider which one is best suited for his needs.The first option is a sole proprietorship. This is the simplest and most common form of business organization, where the business is owned and operated by a single individual. The advantages of a sole proprietorship are that it is easy to set up and maintain, there are no separate taxes or legal requirements, and the owner has complete control over the business. However, the disadvantages are that the owner is personally liable for all debts and obligations of the business, and it may be difficult to raise capital or expand the business.Another option is a partnership, where two or more individuals own and operate the business together. The advantages of a partnership are that it is easy to set up and maintain, there is shared responsibility and workload, and it may be easier to raise capital than with a sole proprietorship. However, the disadvantages are that each partner is personally liable for all debts and obligations of the business, there may be disagreements between partners, and it may be difficult to dissolve the partnership if necessary.A third option is a limited liability company (LLC), which combines elements of both a partnership and a corporation. The advantages of an LLC are that it provides limited liability protection for its owners, there are fewer formalities required than with a corporation, and profits and losses can be passed through to individual tax returns. However, the disadvantages are that it can be more expensive to set up and maintain than a sole proprietorship or partnership, there may be restrictions on ownership transferability, and there may be additional taxes or legal requirements.In Robert's case, an LLC may be the best option as it provides limited liability protection while still allowing him to have control over his business. To overcome his dilemma of not having startup money, Robert could consider taking out a small business loan or seeking funding from investors. He could also start small by offering his services as a mobile mechanic or working out of his home garage until he can afford to rent or purchase a physical location for his shop.In conclusion, Robert should carefully consider the advantages and disadvantages of each business organization before deciding which one is best suited for his needs. An LLC may be the best option for him, but he will need to find a way to secure startup funding in order to get his business off the ground.
Job costing, unit cost, ending work in process. Rowan Company produces pipes for concert-quality organs. Each job is unique. In April 2016, it completed all outstanding orders, and then, in May 2016, it worked on only two jobs, M1 and M2: A B C 1 Rowan Company, May 2016 Job M1 Job M2 2 Direct materials $ 75,000 $ 56,000 3 Direct manufacturing labour 275,000 209,000 Direct manufacturing labour is paid at the rate of $25 per hour. Manufacturing overhead costs are allo- cated at a budgeted rate of $22 per direct manufacturing labour-hour. Only Job M1 was completed in May. Required: 1. Calculate the total cost for Job M1. 2. 1,600 pipes were produced for Job M1. Calculate the cost per pipe. 3. Prepare the journal entry transferring Job M1 to finished goods. 4. What is the ending balance in the Work-in-Process Control account?
Answer:
1. The total cost for Job M1 is $592,000
2. Cost per unit is $370
3. Journal
Finished goods inventory 592,000
Work in process inventory 592,000
4. Ending balance in Work-in-Process Control account is $448,920
Explanation:
A B C
1) Rowan Company, May 2016 Job M1 Job M2
2) Direct materials $ 75,000 $ 56,000
3) Direct manufacturing labour 275,000 209,000
Direct manufacturing labour is paid at the rate of $25 per hour
Manufacturing overhead costs are allocated at a budgeted rate of $22 per direct manufacturing labour-hour
1. Direct labor rate = $25 per hour
Direct labor hours used on Job M1 = Direct manufacturing labor ÷ Direct labor rate
= 275,000 ÷ 25
= $ 11,000
Manufacturing overhead applied to Job M1 = Direct labor hours used on Job M1 x 22
= $11,000 x 22
= $242,000
Job cost sheet (Job M1)
Direct material = $75,000
Direct labor = $275,000
Overhead applied = $242,000
Total cost = $592,000
2. Cost per unit = Total cost ÷ Number of units
= 592,000 ÷ 1,600
= $370
3. Journal
Finished goods inventory 592,000
Work in process inventory 592,000
4. Direct labor hours used on Job M2 = Direct manufacturing labor/Direct labor rate
= 209,000 ÷ 25
= $8,360
Manufacturing overhead applied to Job M2 = Direct labor hours used on Job M2 x 22
= $8,360 x 22
= $183,920
Job cost sheet (Job M2)
Direct material = $56,000
Direct labor = $209,000
Overhead applied = $183,920
Total cost = $448,920
Ending balance in work in process control account = $448,920
The contrast between those with and those without Internet access is known as the __________ divide.
A. technology
B. global digital
C. interspace
D. None of the above
Answer: It is 100% B. Global digital
Explanation: The answer is on Quizlet.
The contrast between those with and without Internet access is known as the Global Digital divide. Thus option (B) is correct.
What is the Digital Divide?The digital divide refers to the gap between demographics and regions that have access to modern information and communications technology and those that don't.
The digital divide encompasses the technical and financial ability to utilize available technology, along with access(or lack of access) to the internet. It exist between developed and developing, urban and rural populations.
The consequences of the digital divide include isolation, which can affect mental health, educational barriers as postsecondary education increasingly moves online, and worsening gender discrimination, also affects the human and economic development of a nation.
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Which of the following incentives 1/15, net 30, 2/10 net 60 or 1/10 net 90, if any of these, is not likely to be a significant incentive to the customer to pay promptly? Explain your answer. Refer to the information provided in Chapter 7 of your text for clarification on what these incentives mean.
The incentive that would encourage customers to pay promptly is 2/10 net 60.
Which incentive would be best ?The meaning of the incentive of 2/10 net 60 is that the customer will get a 2 % discount if they pay in 10 days and if they don't then they will have to pay back what they owe in full, in 60 days.
This incentive will be the most significant in convincing customers to pay promptly because a payment in 10 days would reduce what they have to pay in total.
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Intercontinental, Incorporated, uses a perpetual inventory system. Consider the following information about its inventory: July 1, purchased 10 units for $910 or $91 per unit; July 3, purchased 15 units for $1,590 or $106 per unit; July 14, sold 20 units; July 17, purchased 20 units for $2,300 or $115 per unit; July 28, purchased 10 units for $1,190 or $119 per unit; July 31, sold 23 units.
Using LIFO, the cost of goods sold for the sale of 23 units on July 31 is ____ and the inventory balance at July 31 is _____.
The cost of goods sold is $2,685 and the ending inventory is $3,650.
What does LIFO mean?LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold. The cost of goods sold would be allocated to the latest purchased inventory and ending inventory would consist of the earliest purchased inventory.
Cost of goods sold = $1190 + ($115 x 13) = $2,685
Ending inventory = $910 + $1590 + ($115 x 10) = $3,650
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