Speakers should be eliminated in accordance with the new policy because its markup of 44.7% is less than the minimum needed markup of 25%. In year 2, the markup on headphones is 56.2%.
What does a 40% margin markup mean?For instance, a product that costs $100 to make might sell for $140 with a 40% markup. The distinction between the two is that whereas gross margin is simply the difference between total revenue and the cost of products sold, markup bases the selling price on the cost of manufacturing.
Gross Profit = Sales Revenue - Direct Materials Cost - Direct Labor Cost
= $2,400,640 - $780,000 - $512,000
= $1,108,640
Markup = Gross Profit / Reported Product Cost
Reported Product Cost = Direct Materials Cost + Direct Labor Cost + Manufacturing Overhead / Allocation Base
Allocation Base = Total Direct Materials Cost = $780,000
Reported Product Cost = $780,000 + $512,000 + ($1,056,000 / $780,000) * $780,000
= $780,000 + $512,000 + $1,056,000
= $2,348,000
Markup for headphones = $1,108,640 / $2,348,000 = 47.2%
Allocation Base = Total Direct Materials Cost = $780,000
Reported Product Cost = $780,000 + $512,000 + ($680,000 / $780,000) * $780,000
= $780,000 + $512,000 + $680,000
= $1,972,000
Markup for headphones in year 2 = Gross Profit / Reported Product Cost
= $1,108,640 / $1,972,000
= 56.2%
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Gathering testimonials when preparing for a sales presentation can be helpful in overcoming customer
Answer:
objections
Explanation:
salespeople should
know the product's benefits
making a presentation around what the customer wants
gathering customer reviews
quizletcom250953849mgmtchapter16learnsmartflashcards
Which of the following is correct about employment relationships?
A. In the absence of a contract or statutory protection, most U.S. employment arrangements are "at will."
B. A person cannot be fired for "no reason at all."
C. Federal and state legislation does not interfere with an employer’s right to discharge.
D. The U.S. Supreme Court recently found the "at will" rule to be unconstitutional.
Answer:
C. Federal and state legislation does not interfere with an employer’s right to discharge.
Explanation:
At-will employments involves contractual arrangement whereby both parties are aware of it. Hence, option A is wrong
A person can be fire for "no reason at all" under At-will employment. Hence option B is wrong
The U.S. Supreme Court has not found the "at-will" rule to be unconstitutional, not even recently. Hence, option D is wrong as well.
However, Federal and state legislation does not interfere with an employer’s right to discharge. Hence, option C is the correct answer.
In the context of marketing management philosophies, a sales orientation aims at
Answer:
In the context of marketing management philosophies, a sales orientation aims at: Pushing manufacturers' products more aggressively to achieve high profits. A production orientation philosophy focuses on: Assessing the resources of a firm.
Which of the following supports a business strategy that incorporates the key
operational capability of flexibility?
O Utilizing specialized, automated equipment for consistent product buildup
O Using electronic tools to improve customer communications
Having high quality standards for suppliers
O Reducing labor and shelving costs
O Maintaining excess production capability
Business strategy that incorporates the key operational capability of flexibility is utilizing specialized, automated equipment for consistent product buildup.
Thus, the correct option is A.
What is Business strategy?
A business strategy explains the precise methods through which a company intends to position itself, accomplish its short- and long-term objectives, and expand over time.
A plan outlining how a corporation will accomplish its objectives is known as a business strategy. Although there are many distinct business strategies, cost leadership, differentiation, and focus are a few typical examples.
Cost, quality, distribution, technology, and intellectual property are the only five corporate tactics (IP). These five concepts, or a mixture of them, form the basis of all corporate strategy. Focusing your business on just one thing is generally the simplest to implement.
A strategy is essentially just a hypothesis. For a strategy to be effective, the issue that needs to be resolved must be accurately diagnosed, a guiding policy must be established to handle the issue, and a set of cogent actions must be proposed to carry out the policy.
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How can online cybersecurity training help individuals or organizations enhance their knowledge and skills in protecting against cyber threats?
Online cybersecurity training offers numerous benefits for individuals and organizations looking to enhance their knowledge and skills in protecting against cyber threats.
Here are some ways in which online cybersecurity training can be beneficial:
Comprehensive and Up-to-Date Content: Online cybersecurity training programs often cover a wide range of topics, including network security, threat intelligence, cryptography, secure coding, incident response, and more. These programs are regularly updated to align with the latest trends and emerging threats, ensuring that individuals and organizations have access to relevant and timely information.
Flexibility and Convenience: Online cybersecurity training allows learners to access courses and materials at their own pace and convenience. This flexibility is particularly valuable for working professionals who may have time constraints. It enables individuals to learn at their own speed and revisit materials as needed, ensuring a thorough understanding of the subject matter.
Interactive Learning Experience: Many online cybersecurity training programs offer interactive learning experiences through multimedia content, simulations, and virtual labs. These interactive elements provide hands-on practice in real-world scenarios, allowing learners to apply their knowledge and skills in a practical setting. Such experiential learning enhances retention and deepens understanding.
Expert Instruction and Guidance: Online cybersecurity training programs are often developed and delivered by industry experts and experienced professionals. Learners benefit from their knowledge, insights, and practical experience, gaining valuable perspectives and guidance. Additionally, some programs offer mentorship or coaching options, allowing learners to seek personalized assistance and feedback.
Networking and Collaboration Opportunities: Online cybersecurity training platforms often provide opportunities for learners to connect with peers, industry professionals, and instructors through forums, discussion boards, or virtual communities. Engaging with a diverse network of cybersecurity practitioners fosters knowledge sharing, collaboration, and the exchange of best practices.
Recognized Certifications: Many online cybersecurity training programs offer certifications upon successful completion. These certifications validate individuals' knowledge and skills, enhancing their credibility and marketability in the cybersecurity industry. Employers often value recognized certifications as they demonstrate a commitment to professional development and staying current with industry standards.
Cost-Effectiveness: Online cybersecurity training programs are generally more cost-effective compared to traditional classroom-based training. They eliminate the need for travel expenses and reduce the overall training costs, making it accessible to a wider audience.
By leveraging online cybersecurity training, individuals and organizations can enhance their knowledge, skills, and awareness of cybersecurity threats and measures. Continuous learning and staying up-to-date with the latest practices and techniques are crucial in effectively protecting against cyber threats in today's rapidly evolving digital landscape.
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You place an order for 1,800 units of Good X at a unit price of $55. The supplier offers terms of 1/10, net 45.
Based on the terms offered of 1/10, net 45, the period you have to pay before it is overdue is 45 days and the full amount you'll remit is $99,000.
What does an offer of 1/10, net 45 mean?1/10, net 45 means that if the person can pay off the balance in 10 days, they will get a 1% discount. If they don't, they will have to pay in 45 days from the date of purchase and will get no discount.
In this case, the full amount paid will be:
= Number of units purchased x Unit price
= 1,800 x 55
= $99,000
The questions are:
1. How long do you have to pay before the account is overdue?
2. If you take the full period, how much should you remit?
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"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their
own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own
necessities, but of their advantages"
After reading the quote above it can be inferred that
A The author believed people were motivated to act by their humanity alone
B The author believed that individuals act in a self-serving fashion
C The author believed that a large government was needed to meet the needs of citizens
D The author supported communal property
B The author believed that individuals act in a self-serving fashion. The quote suggests that people are motivated to act based on their own self-interest rather than any inherent benevolence or concern for others.
which of the following criteria is not important when selecting a tenant for a residential unit
A criteria that is unimportant when selecting a tenant for a residential unit i s considering the ethnic background of the tenant and his or her employees.
What criteria is use when selecting a tenant for a residential unit?When selecting a tenant for a residential unit, landlords typically consider several criteria to ensure that the tenant is reliable, responsible, and able to pay the rent on time. One of the most important factors is the tenant's credit score, which provides information about their financial history and their ability to pay bills on time.
Landlords also typically ask for references from previous landlords or employers to verify that the tenant has a good rental history and is responsible. Additionally, landlords may consider the tenant's income and employment status to ensure that they can afford the rent and are likely to remain in the unit for the duration of the lease.
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WHAT IS Segmentation,
Answer:
Segmentation is to divide something into separate parts or sections
if you have identified a risk, you have?
(a) figured it out how to eliminate it.
(b) recognized that it exists.
(c) publically announced it is a problem.
(d) decided not to reveal it
Answer:
B
Explanation:
you have recognized that it exists, you have not yet eliminated it or made any other decisions.
MC Qu. 74 If a firm's forecasted sales are... If a firm's forecasted sales are $238,000 and its break-even sales are $184,000, the margin of safety in dollars is: rev: 07_12_2018_QC_CS-131102
Answer:
22.69%
Explanation:
Margin of safety = (forecasted sales - break-even sales) / forecasted sales
( $238,000 - $184,000) / $238,000 x 1000 = 22.69%
PLEASE HELP ME QUICK!
Which of these is not an example of a trade restriction?
a. paying a subsidy to domestic farmers
b. charging a tariff on imports
c. taking land to build an airport
d. limiting the import of certain goods
Answer:
c. taking land to build an airport.
Explanation:
While the other options (a, b, and d) are examples of trade restrictions, the act of taking land to build an airport is not directly related to trade restrictions. It is more related to the acquisition of land for public infrastructure development, which may involve eminent domain or other legal processes.
Incorrect
Question 3
0/5 pts
(01.01 MC)
Tina just completed a science degree and wants to continue on to medical
school. What can she expect?
-Her earnings potential may decrease.
-Her potential expenses may decrease
-Her earnings potential may increase.
-Her potential wants may decrease.
Answer:
Her earning potential may INCREASE
Explanation:
Tina just completed a science degree and wants to continue to medical school. Her earnings potential may increase. Hence, option C is appropriate.
What is the earnings potential?Earning potential is the phrase used to describe the potential profits that shareholders may realize from holding a company, including dividend payments but also capital growth. In plenty of other words, it displays the most profit that a business may get. The manner of dividends is frequently distributed to investors.
The formula can also be thought of as predicted revenue with fewer expenses equaling profit potential. Gross margin %, also known as the ratio of profit to sales, is a metric that businesses use to assess the profitability of various products.
Let's start with the definition of earning potential (income potential): this is the sum of money you should be able to accumulate throughout a certain period. In other regards, this is a reference to your potential for financial gain.
Hence, option C is correct.
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Here are the comparative income statements of Ayayai Corp..
AYAYAI CORP.
Comparative Income Statement For the Years Ended December 31
2017 2016
Net sales $632,600 $521,900
Cost of goods sold 463,600 410,400
Gross Profit 169,000 111,500
Operating expenses 79,300 47,200
Net income $ 89,700 S64,300
Prepare a horizontal analysis of the income statement data for Ayayal Corp, using 2019 as a base. (If amount and percentage are a decrease show the numbers as negative, eg -55,000, -20% or (55,000). (20%). Round percentages to 1 decimal place, eg. 12.1%.)
Answer:
Ayayai Corp.
Horizontal Analysis:
2020 Increase 2019
Net sales $632,600 $110,700 21.2% $521,900
Cost of goods sold 463,600 53,200 13.0% 410,400
Gross Profit 169,000 57,500 51.6% 111,500
Operating expenses 79,300 32,100 68.0% 47,200
Net income $ 89,700 25,400 39.5% $64,300
Explanation:
a) Data and Calculations:
AYAYAI CORP.
Comparative Income Statement For the Years Ended December 31
2020 2019
Net sales $632,600 $521,900
Cost of goods sold 463,600 410,400
Gross Profit 169,000 111,500
Operating expenses 79,300 47,200
Net income $ 89,700 $64,300
Percentage increase or decrease = (Increase/Decrease)/Base Year's Value
Do you believe that Mrs. Wyatt was justified in her perception of the situation? Explain.
Mrs. Wyatt may or may not have been justified in her perception of the situation. It is possible that she felt that she was being ignored or treated unfairly, and that the bank employee was not taking her seriously.
Here are some factors that may have influenced Mrs. Wyatt's perception of the situation:
Her personal experiences. Mrs. Wyatt may have had previous negative experiences with banks, which may have made her more likely to feel that she was being treated unfairly.The bank employee's body language and tone of voice. If the bank employee was not making eye contact with Mrs. Wyatt or was speaking to her in a condescending tone, this could have made her feel like she was being ignored or treated unfairly.The length of time she had to wait. If Mrs. Wyatt had to wait a long time to be served, this could have made her feel frustrated and impatient, which could have made her more likely to perceive the situation negatively.It is important to note that everyone experiences situations differently. What may seem like a minor inconvenience to one person could be a major source of frustration or anger for another. It is also important to remember that bank employees are human beings, and they are not perfect.
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Mona is opening a new business selling fake fur coats. She organizes the company as a limited liability company called Fake-It, LLC and borrows $100,000 from a local bank in Fake-It's name. She also signs a personal guarantee at the bank promising to pay the debt of Fake-It. A friend of hers, Tanner, a second-year law student, advises her not to worry about the personal guarantee, because under the law of limited liability companies, it would be illegal for anyone to attempt to hold her liable for debts of the company. Is Tanner right?
Answer:
Yes but see explanation.
Explanation:
In lay man terms, the LLC is standing as a legal entity in itself. It can sue and be sued; as if it were a person. Tanner is right but Mona is a 'member' of the company (the owner or starter is called or seen as 'a member') and part of the liabilities of the company lie on her!
The legal document that determines who to hold liable for debts of the company is the Article of Organization. This document describes the rights, the powers, the responsibilities and the liabilities of each member of the limited liability company. So, if in this document, Mona bears a bulk of the financial liability of the company, then if the company is found wanting - on the basis of debt - and a court case comes up; Mona will be one of the members on the 'hot seat'.
Her personal bank account or financial assets might be protected in a company debt case but she'll still have to appear in court and be questioned accordingly. In lay man language, it is she - a human - who opened the business, so if there's debt, the humans involved (members) will be called upon.
How should you respond to an interviewer during an interview?
Answer:
you must always remain professional, speak properly and wear proper attire. Respond clearly and politely. it is also important to always keep composure. once your interview has started you will begin to develop a feel of how you should act by mirroring the interviewer.
When you are doing an interview, you will respond by making eye contact and greeting the interviewer with a solid handshake.
Tell the truth as positively as possible, and avoid discussing things or situations in a bad light. Longer responses are less effective than shorter ones and tend to make interviewers suspicious.
The interview greeting is critical to your success since it gives the interviewer a favorable first impression.
Therefore, it is critical, as in many cultures, to respond appropriately to the welcome.
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Given the following information, calculate the ceiling price: target price=$193; government share of overrun-40/60; CRM-$180; target cost: $170.
O $200
$197
$203
$193
Answer: $185.33.
Explanation: Given the provided information:
Target Price = $193
Government Share of Overrun = 40/60 (or 4/6)
Target Cost = $170
Ceiling Price = $170 + (4/6 * ($193 - $170))
Ceiling Price = $170 + (4/6 * $23)
Ceiling Price = $170 + (2/3 * $23)
Ceiling Price = $170 + $15.33
Ceiling Price ≈ $185.33
Therefore, the ceiling price is approximately $185.33.
geo corporation issues stock to investors for $100,000. recording this transaction will include which of the following?
Option A is Correct. Investors can purchase shares of Geo Corporation for $100,000. Credit common stock will be included in the transaction's records.
All of the transactions recorded using the double-entry bookkeeping system are compiled in a general ledger. Each transaction using this method impacts at least two different accounts; one account is debited and the other is credited. The total debit amount and total credit amount must always be equal.
The Guest Folio, sometimes referred to as the Guest Account Card, is regarded as the hotel's principal bill. Each resident guest's credit and cash purchases are recorded in their guest folio. The four components, namely income, expense, drawing, and capital accounts, may have an impact on the owner's equity. Revenue and owner investment are transactions that raise equity.
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Correct Question:
Geo corporation issues stock to investors for $100,000. recording this transaction will include which of the following?
A. Credit common stock.
B. Credit revenues.
C. Debit to cash.
D. Debit to retained earnings.
You work for Kolb Aircraft Company. Kolb builds ultralight and experimental airplanes for flying enthusiasts. As a quality assurance manager, you’ve been invited to join a team that studies Federal Aviation Administration (FAA) safety regulations and applies them to the experimental airplanes Kolb sells. At the team’s first meeting, you are asked to prepare a summary report of FAA safety standards. Now, at your second team meeting, you deliver your report to the group. After the presentation, several group members begin discussing the company barbecue they attended last Friday.
Which team behavior does this situation describe?
a)Contributing information and ideas
b)Wasting the group’s time
c)Encouraging members to participate
Members of the group ought to comment on the presentation when it is finished, but since they are chatting about barbeque, their behaviour is inappropriate.
What conduct is permitted among group members?They include creating a trust-based environment and dynamic, handling conflict, inspiring and motivating commitment, assuring accountability, and achieving successful outcomes.
In order to accomplish goals, collaborate with others. Manage performance in a responsible and equitable way. Constructive criticism is given and received as part of routine daily work. Such comments must to be supported by facts and given in a suitable way. Trust, Conflict, Commitment, Responsibility, and Results are the five behaviours.
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Can someone else help me solves this question please?
The information regarding the cash and account details has been used to prepare the necessary account.
How to explain the informationJan. 1: Cash $18,000, Notes Payable $18,000
Jan. 5: Cash $6,000, Sales Revenue $6,000
Jan. 5: Cash $360, Sales Taxes Payable $360
Jan. 12: Unearned Service Revenue $11,000, Service Revenue $11,000
Jan. 14: Sales Taxes Payable $8,100, Cash $8,100
Jan. 201: Accounts Receivable $31,690, Sales Revenue $30,500, Sales Taxes Payable $1,190
Jan. 31: Salaries and Wages Expense $96,000, Social Security Tax Payable $7,344, Medicare Tax Payable $1,728, Federal Income Tax Payable $5,086, State Income Tax Payable $1,526, Salaries and Wages Payable $79,316
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which answer best defines opportunity cost
A. what it cost to take advantage of a great savings opportunity
B the value of the things you have to give up to get something else
C the amount a seller paid to sell you a product D the amount you have to pay to do something the value of the things you have to give up to get something else what it cost to take advantage of a great savings opportunity
Answer:
B. The value of the things you have to give up to get something else.
Explanation:
The reason is the definition of Opportunity Cost is The loss of a potential gain from other alternatives when one alternative is chosen. If you put it in a way you can understand better you get B. The value of the things you have to give up to get something else.
Why does the bank generally print the address of the check writer on the upper left-hand corner of the check?
Maria V. Bowen’s Check for $42.92 is dated March 6, 2019. Pay to the order of Credit Card Company.
A. To prevent people from bouncing a check (i.e., a NSF transaction)
B. To contact the check writer if a check bounces.
C. To advertise its products on the front of a check.
D. To prevent people from stealing checks.
To contact the check writer if a check bounces the bank generally print the address of the check writer on the upper left-hand corner of the check.
Option B is correct
The bank generally prints the address of the check writer on the upper left-hand corner of the check to be able to contact the check writer if a check bounces or is returned due to non-sufficient funds (NSF). By having the check writer's address on the check, the bank can contact the check writer to inform them that the check bounced and to try to resolve the issue.
This also helps the bank to verify the identity of the check writer and to prevent check fraud.
Option B is correct
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an investor is offered two opportunities, A and B. A generates $52000 and B generates $21000. What is the opportunity cost if the investor chooses A
The opportunity cost of the Investor choosing Investment A is the payoff of $21,000 from B.
What is Opportunity Cost?It represents the implicit cost we incur for making one decision instead of another. It is quantified as the payoff that would have been made if the other decision was chosen.The opportunity cost of choosing investment A in this scenario will therefore be the amount that would have been earned from investment B which is $21,000.
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The questions are in the images. The categories provided are: Cash, Accounts Receivable, Office Equipment, Office Furniture, Accounts Payable, Randy Guttery Capital, Randy Guttery Drawing, Fees Income, Rent Expense, Utilities Expense, Salaries Expense, Telephone Expense, and Miscellaneous Expense.
A collection of financial records that employ double-entry accounting is referred to informally as a T-account.
What is T- Account ?The phrase defines how the bookkeeping entries appear. On a page, a huge letter T is first drawn.The account name is then written above the top horizontal line and split by the bottom horizontal line., and below that, split by the vertical T of the letter, debits are reported on the left and credits are recorded on the right.
Every financial transaction is taken into account to have an impact on at least two of a company's accounts in double-entry bookkeeping, a common accounting technique. Each transaction will be recorded in one account as a debit entry and in the other as a credit entry.
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15. Assume that Cane’s customers would buy a maximum of 87,000 units of Alpha and 67,000 units of Beta. Also assume that the company’s raw material available for production is limited to 168,000 pounds. If Cane uses its 168,000 pounds of raw materials, up to how much should it be willing to pay per pound for additional raw materials? (Round your answer to 2 decimal places.)
Cane's should be willing to pay up to $43,890 per pound of raw material if they decide to produce more Beta.
To produce more units than the given production limits, Cane needs to purchase additional raw materials. The maximum price they should pay per pound for additional raw materials depends on which product they choose to produce more of. For Alpha, the contribution margin per pound of raw material is $2, and for Beta, it is $1.33.
Cane's can use up to 6,000 more pounds of raw material for Alpha, so they can pay up to $12,000 for additional raw material. Beta, they can use up to 33,000 more pounds of raw material, so they can pay up to $43,890 for additional raw material.
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GUYS PLEASE HELP, ILL GIVE BRAINLIEST
List 5 ways Chapter 7 and Chapter 13 Bankruptcies are similar:
Answer:
Explanation:
While Chapter 7 eliminates your debts while Chapter 13 restructures them, you will be able to enjoy something called an “automatic stay” when you file either. This stay means that your creditors are unable to contact you about recovering existing debts while the order is in place, and can be penalized by the courts if they violate the stay. In addition, this stay will put a halt to any wage garnishing that you have been subject to, meaning that you will be able to retain all of your earnings during this time.
what other emerging trend is connected to simplified menus?
The potential for automation is nearly limitless where menus are reasonably straightforward and provide fewer selections, according to Brian Warrener.
What is emerging trend?The Emerging Trends (or Trending Terms) is a collection of words that describes the subjects that have gained popularity over the past 24 hours more quickly than any other. By "emerging," we mean becoming more popular among the general public and generating more conversation than any other subject.
Alternatives to meat are nothing new. Since a while ago, restaurants and home grills have offered Impossible Burgers, Beyond Meat Burgers, and other comparable foods. Large fast food outlets are testing vegan nuggets. Pizza businesses are experimenting with vegan pepperoni. Staying on top of trends will enable you to deliver what clients want whenever they want it, encouraging return business and good word-of-mouth.
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Please answer the questions in the photo. Do not copy and paste from the internet.
2. Businesses that market goods and services can be classified based on the types of products or services they offer. Here are some common classifications:
The businesses that would market goods and servicesConsumer goods: These are goods that are bought and used by individuals for their personal use. Examples include clothing, food, electronics, and household items. Businesses that sell consumer goods are often referred to as retailers, and they can be further classified based on the types of products they sell (e.g. clothing retailers, grocery stores, electronics stores).
Business-to-business (B2B): These are businesses that sell products or services to other businesses rather than to consumers. Examples include suppliers of raw materials, manufacturers of components, and consulting firms. B2B businesses can also be classified based on the types of products or services they offer (e.g. IT services, logistics companies, marketing agencies).
Service businesses: These are businesses that provide services rather than physical goods. Examples include healthcare providers, hairdressers, financial advisors, and consulting firms. Service businesses can be further classified based on the types of services they provide (e.g. healthcare services, professional services, personal services).
There are several types of retail businesses, each with its own advantages and disadvantages. Here are some examples:
Brick-and-mortar stores: These are traditional physical stores that customers visit to make purchases. Brick-and-mortar stores offer the advantage of providing a tactile and personal shopping experience, but they also require significant overhead costs (e.g. rent, utilities, inventory management).
Online retailers: These are businesses that sell products exclusively online, often through e-commerce platforms like Amazon or Shopify. Online retailers offer the advantage of lower overhead costs and a wider potential customer base, but they also face fierce competition and the need to constantly optimize their digital marketing efforts.
Pop-up shops: These are temporary physical stores that are set up in a specific location for a limited time (e.g. a holiday season). Pop-up shops offer the advantage of providing a unique and time-limited shopping experience, but they also require significant planning and logistical coordination.
Franchise stores: These are retail stores that operate under the brand and business model of a larger franchise organization (e.g. McDonald's, 7-Eleven). Franchise stores offer the advantage of a proven business model and brand recognition, but they also require significant initial investment and ongoing franchise fees.
Ultimately, the type of retail business that would be most interesting to pursue depends on factors such as personal preferences, financial resources, and market opportunities. For example, someone who is passionate about fashion and has a limited budget might consider starting an online boutique, while someone who has significant financial resources and is interested in owning multiple locations might consider investing in a franchise business.
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accrued expenses
1. Workers' salaries for the six-day week is P4,800 payable every Saturday. December 31 is a Thursday.
2. Water bill received December 26 in the amount of P890 will be paid January 7 of the following year.
Answer:
1. Accrued salaries expense as of December 31 would be calculated as follows:
Number of days from Saturday to Thursday = 5 days
Salary expense per day = P4,800 / 6 days = P800 per day
Accrued salaries expense = 5 days x P800 per day = P4,000
Therefore, the company would need to record an accrued salaries expense of P4,000 as of December 31.
2. Accrued water expense as of December 31 would be calculated as follows:
Number of days from December 26 to December 31 = 5 days
Water expense per day = P890 / 30 days = P29.67 per day
Accrued water expense = 5 days x P29.67 per day = P148.35
Therefore, the company would need to record an accrued water expense of P148.35 as of December 31.