Manufacturing cost data refers to the financial information related to the costs of producing goods in a manufacturing setting.
This data can include a variety of costs, such as direct materials, direct labor, overhead, and other indirect costs, that are incurred in the production process. It can also include information on the cost of goods sold, as well as data on pricing and profitability. The company is known as cost of goods manufactured.
Manufacturing cost data for Copa Company are presented below.
(a) Direct materials used in case A: $73,230
(b) Work in process 1/1/17: 19,770
(c) Work in process 12/31/17: 16,940
(d) Total manufacturing costs in case B: 257,500
(e) Total cost of work in process in case B: 339,300
(f) Cost of goods manufactured in case C: not given
(g) Direct labor in case C: not given
(h) Work in process 1/1/17 in case C: not given
(i) Cost of goods manufactured in case C: not given
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detroit bike is located in the united states, assembles its product in the united states, but imports components from china and other countries. which best describes detroit bikes?
Detroit Bikes is an example of a transnational business. A transnational business is a company that operates in multiple countries, sourcing and selling products around the world.
Detroit Bikes sources components from China and other countries, and assembles its products in the United States, creating a global network for its products.
A person who produces items or provides services with the intention of selling them for a profit is engaging in business. Enterprise Definition. An innovative company or group that engages in professional activities is referred to as a business.
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frank can make 20 hot dogs an hour or 10 pints of potato salad an hour. earnest can make 30 hot dogs an hour or 20 pints of potato salad an hour. who has the comparative advantage making hot dogs and who has the comparative advantage making potato salad?
Frank has the comparative advantage in making hot dogs due to his higher output in that area. On the other hand, Ernest has the comparative advantage in making potato salad due to his higher output in that area.
Frank and Earnest both have a knack for cooking, but they each have their own specialties. Frank can make 20 hot dogs an hour or 10 pints of potato salad an hour, while Earnest can make 30 hot dogs an hour or 20 pints of potato salad an hour.
Given their respective abilities, it is clear that Earnest has the comparative advantage when it comes to making hot dogs, while Frank has the comparative advantage when it comes to making potato salad.
This is because Earnest can make more hot dogs in the same amount of time than Frank, and Frank can make more potato salad in the same amount of time than Earnest.
Therefore,Earnest is the better choice when it comes to making hot dogs and Frank is the better choice when it comes to making potato salad.
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diane made a one-year loan to john that specified a 10 percent nominal interest rate. at the end of one year, the inflation rate was 20 percent. this caused diane to receive a negative ex post real interest rate. diane was a victim of:
Diane experienced a negative ex post real interest rate as a result. Diane suffered from: the social cost of unexpected inflation.
An interest rate is the percentage of a loan, deposit, or borrowing that must be paid in interest each period (called the principal sum). The total amount of interest charged depends on the amount lent or borrowed, the interest rate, the frequency of compounding, and the length of time it was lent, deposited, or borrowed. The annual interest rate is the rate that is determined over a year. Other interest rates, such as monthly or daily rates, also apply but are typically annualized. A dollar of now [income] is preferred over a dollar of future [income], and this preference is reflected in the interest rate.
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your veterinarian is trying to perform a joint injection on a 5-year-old racing thoroughbred owned by mr. frickel. as he is preparing the injection site, the horse is shifting its weight and trying to step forward. the veterinarian tells you to keep him still. why? how was the veterinarian preparing the in
veterinarian tells you to keep him still. Because, It is necessary to cut the hair and sanitise the skin. If a big needle is used, local anaesthetic is typically required for the skin and subcutaneous tissue.
Any movements made during the joint injection might cause the needle to bend or break, and the surfaces of the joint's cartilage and synovial membrane could be badly lacerated or pierced. An animal doctor is a veterinarian. You take your dog to the vet when it's time for his vaccinations. A veterinarian is someone who diagnoses, manages, and prevents animal illnesses. Veterinarians use a range of medical tools, such as surgical instruments, x-ray, and ultrasound devices, to treat the wounds and diseases of pets and other animals. They offer care for animals that is comparable to what a doctor would offer to a patient.
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a 3-year 6% bond pays its coupons semi-annually, and is currently trading at 90.36, what is the yield to maturity on the bond
In this case, the YTM of the bond is 6.7%. This means that if an investor buys the bond at its current market price of 90.36 and holds it until maturity, he will earn a yield of 6.7%.
Annual Coupon rate = 6%
Semi-annual coupon rate = 3%
Par Value = $100
Price = 90.36
Now, we need to use the formula to calculate the YTM
YTM = i = (2*C + P - F)/(2*F + P)
where C = coupon payment, P = current market price, and F = face value
i = (2*3 + 90.36 - 100)/(2*100 + 90.36) = 0.067
YTM = 6.7%
A bond's yield to maturity (YTM) is the rate of return achieved by an investor who buys a bond at its current market price and holds it until the maturity date. In this case, the bond is a 3-year 6% bond that pays its coupons semi-annually and is currently trading at 90.36. By plugging in the required inputs (coupon rate, market price, face value, maturity, and frequency of payments), we can determine the bond's YTM.
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Lucy kreb is a bookkeeper. Her personal excemptions are $84. 60 a week. State tax rate is 3. 5 percent of taxable income. Local tax is 1. 5 percent of gross pay
In order to determine Lucy's state tax, multiply her tax liability by the 3.5% state tax rate. Her local tax will be determined by dividing her gross income by the 1.5% local tax rate.
What does the term "state tax" mean?local tax. noun [ C or U ] A sales tax on something is a tax something which you earn to the state government rather than the federal government in the US. State taxes on gamblers do not exist at the moment.
What does the term "state income" mean?The State Domestic Market (SDP) is an accounting term for the total value of all value created within a State's borders during a specific time period.
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1. what are some of the deeply held values by mr. nemeroff and the writers that in part define the organizational culture of the learning focus? 2. explain how these differing values produce the conflict among the parties in this case. 3. in an attempt to bring about a change in the organization, what do you think might happen to the learning focus if nemeroff fired all the existing writers and replaced them with new writers? 4. what significance does the legacy of the mccalls have on the way the writers currently view the company? 5. if you were asked to bring about change that benefited the learning focus, what change strategies would you follow and why?
Mr. Nemeroff and the writers value quality, fairness, and respect.The different values create a clash in priorities.The writers would feel betrayed and resentful. he legacy has instilled a sense of loyalty and camaraderie.
What are some of the deeply held values by Mr. Nemeroff and the writers?
Mr. Nemeroff and the writers of the Learning Focus share several deeply held values, such as a commitment to quality, a dedication to customer service, and a respect for the legacy of the McCall family. These values, in part, define the organizational culture of the Learning Focus and shape the way the writers interact with one another and the company.
Explain how these differing values produce the conflict among the parties in this case.
The differing values of the parties involved in this case produce conflict in the sense that the writers feel that the company is not living up to their values and expectations, while Mr. Nemeroff believes that the writers are not taking their responsibilities seriously enough. This conflict is further exacerbated by the legacy of the McCalls, which the writers feel is not being respected as it should be.
What do you think might happen to the learning focus if nemeroff fired all the existing writers and replaced them with new writers?
If Mr. Nemeroff fired all the existing writers and replaced them with new writers, it could potentially bring about a change in the company, but it is likely that this would not be a positive change. The new writers would not have the same connection to the legacy of the McCalls or the same understanding of the organizational culture as the existing writers, and this could lead to a decrease in quality, customer service, and morale.
What significance does the legacy of the mccalls have on the way the writers currently view the company?
The legacy of the McCalls has a significant impact on the way the writers currently view the company, as they feel that the company is not respecting the legacy of the McCalls and is not living up to the values that they believe the company should uphold. This has resulted in a sense of frustration among the writers and has been a source of conflict between them and Mr. Nemeroff.
What change strategies would you follow and why?
If I were asked to bring about change that benefited the Learning Focus, I would focus on creating a more collaborative environment between the writers and Mr. Nemeroff. I would encourage open communication between the parties and work to build trust and mutual respect. I would also work to create an environment that values and respects the legacy of the McCalls, as this is something that is important to the writers. Finally, I would strive to create a culture of quality and customer service, so that the writers can take pride in their work and feel empowered to do their best.
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when someone is identified as an information steward, the individual is responsible for what activities?
The Chancellor or the Chancellor's designee appoints an information steward to determine how the information will be created, managed, used, maintained, and stored in their functional area.
In accordance with legal, ethical, competitive, and practical concerns, the proper stewardship and custodianship of University administrative information will facilitate access to data that supports the work of those with official educational or administrative responsibilities within the institution.
Data stewards are IT professionals whose job is to ensure the smooth flow of information between different systems in order to advance the company's goals.
If your company is pursuing any sort of data and analytics program, you probably have a team of people, or maybe an entire department, devoted to overseeing the process of data management and integration. They are the guardians of your data.
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imagine that a designer writes content for their online portfolio. to align with their personal brand, they include friendly, conversational language. they write brief and snappy descriptions, and include key details about their professional background. before they publish, what can they do to ensure the content is as good as it can be?
File names should provide information about the project and version. No, a file's name must include the date, author, and version numbers.
What exactly do you mean by project?
Simply explained, a project is a group of actions that must be completed in order to accomplish a specific objective. A project is a collection of inputs and outputs required to complete a certain task. A project, whether small or complex, can be managed by one person or by 100.
When you accidentally attribute to someone else negative emotions or traits that you don't like about yourself, this is known as projecting. This is illustrated by a cheating spouse who thinks their partner is unfaithful.
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while moving on the production possibilities frontier, if the opportunity cost of producing one good is 1/2, the opportunity cost of producing the other good (in the same range) is
The opportunity cost of producing one good is the amount of the other good that must be given up in order to produce an additional unit of the first good.
If the opportunity cost of producing one good is 1/2, it means that for every additional unit of the first good produced, half a unit of the second good must be given up. On a production possibilities frontier, this is represented by a slope of -1/2.
The opportunity cost of producing the other good in the same range would also be 1/2. This is because the production possibilities frontier represents the maximum output of one good that can be produced for every possible level of output of the other good. If the opportunity cost of producing one good is 1/2, it means that the two goods are close to each other in terms of production efficiency, so the opportunity cost of producing the other good would also be 1/2.
In other words, the slope of PPF is negative and equal to the ratio of the opportunity cost of one good over the other. As the slope is -1/2, this implies that the opportunity cost of producing one good is 1/2, and the opportunity cost of producing the other good is also 1/2.
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prepare a double entry ledger entries January 3 took out of the cash till$50 and put into the business by cheque Jan 4 the proprietor put a further$5000 in to business by cheque .please I need it quick
Explanation:
In the first entry, $50 is taken out of the cash till and put into the business as drawings. The effect is a decrease in the cash balance and an increase in the drawings account.
In the second entry, the proprietor puts a further $5000 into the business by cheque. The effect is an increase in the capital account and an increase in the bank balance.
It's important to note that "Drawings" and "Capital" are the accounts used to record the personal transactions of the business owner in this case, it is assumed that the business is a proprietorship. Other forms of business may have different accounts to record the personal transactions of the owne
if the economy is currently at point d. what is the opportunity cost of producing an additional 100 trucks?
The equation aLCQC+aLWQW=L is an equation of a line whose plot represents the country’s production possibility frontier (PPF).Going from 700 (point C) to 600 (point D) computer chip production. Opportunity cost is 100 chips.
What is the opportunity cost formula?The following formula is used to determine opportunity cost: Return on Most Profitable Investment Choice – Return on Investment Pursued = Opportunity Cost. For example, a student may spend three hours and $20 the night before a test at the movies. The opportunity cost is the time spent studying and the money that might have been spent on something else. A farmer decides to grow wheat; the opportunity cost is planting a different crop or using the resources in another way (land and farm equipment).
Obtain assistance with tasks.
Form working groups.
Recruit beta testers for novel ideas or products.
Form a group to work on an idea you have.
Share your knowledge or best practices in a certain sector.
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explain a production possibilities curve for a country that produces milk and cookies. what happens to the frontier if a disease kills half of the cows?
Between milk and cookies, there is a frontier of production options (PPF1). Less milk supply is conceivable if a disease kills half of the economy's cow herd, therefore the PPF turns inward (PPF2).
Be aware that production is unaffected if the economy generates all the cookies and doesn't require any cows. In order to create an output, production is the process of combining a variety of inputs, both immaterial (like plans or information) and immaterial (like metal, wood, glass, or polymers). The optimal form of this output will be a valuable good or service that increases people's utility. The field of economics known as "production theory" focuses on the production process and is closely related to the field known as "consumption theory" or "consumer theory". When the original inputs are used productively, the manufacturing process and output are produced (or factors of production). Land, labour, and capital are thought of as the three basic production components, often known as primary producer commodities or services.
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Russia justified its annexation of Crimea by asserting
A) Russia's rights to Ukraine's coal deposits.
B) Russia's interest in Ukrain's Black Sea tourist industry.
C) Ukraine's lack of response to the Chernobyl disaster in the 1980s.
D) the endangerment of the Russian minority in Ukraine.
E) Russia's interest in Crimea's oil deposits.
Russia justified its annexation of Crimea by asserting D) the endangerment of the Russian minority in Ukraine.
In 2014, Russia annexed Crimea from Ukraine, citing the protection of the Russian-speaking population as the justification for its actions. Russia claimed that the Russian minority in Ukraine were facing discrimination and were in danger, and that the annexation was necessary to protect their rights and interests. The annexation was widely criticized by the international community as a violation of Ukraine's sovereignty and a violation of international law.In 2014, Russia annexed Crimea from Ukraine, following a controversial referendum in which the majority of voters in the region voted in favor of joining Russia. The annexation was not recognized by the international community, and the United Nations General Assembly adopted a resolution condemning the annexation and reaffirming Ukraine's sovereignty and territorial integrity. The annexation led to increased tensions between Russia and the international community, including the imposition of economic sanctions against Russia by the United States and European Union.
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awareness of the purposes of insurance coverage and how to best use the types of insurance available is called
The level of risk or responsibility that an individual or business has via the use of insurance services is known as insurance coverage.
The insurance policy, which establishes the claims that the insurer is legally obligated to pay, is a contract between the insurer and the policyholder. The insurer guarantees to reimburse losses brought on by risks covered by the policy wording in return for an upfront payment known as the premium.
Insurance seeks to lessen financial uncertainties and handle unexpected loss. This is accomplished by exchanging the payment of a modest, predetermined fee—an insurance premium—to a reputable insurer for the assumption of the risk of a significant loss and a guarantee to make payments in the case of such a loss.
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The question may be:
Awareness of the purposes of insurance coverage and how to best use the types of insurance available is called as ________________
Awareness of the purposes of insurance coverage and how to make the best use of the many types of insurance available is partly called risk Management.
Risk management is the identity, assessment, and prioritization of dangers (described in ISO 31000 because of the effect of uncertainty on targets) observed by coordinated and within the your-budget utility of resources to reduce, monitor, and control the probability or effect of unfortunate events or to maximize the realization of possibilities.
Dangers can come from diverse sources which include uncertainty in global markets, threats from task disasters (at any section in layout, improvement, manufacturing, or maintaining of lifestyles cycles), felony liabilities, credit risk, injuries, natural reasons, and screw-ups, planned attack from an adversary, or occasions of unsure or unpredictable root-reason. chance control standards were evolved via numerous institutions, such as the mission management Institute, the national Institute of requirements and era, actuarial societies, and ISO standards (first-rate management standards to help work extra efficaciously and reduce product failures).
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Type the correct answer in the box. Spell all words correctly. Karan works at a shoe store where the latest trends in shoes are displayed. Down the road from his store, two more stores opened up and began selling similar styles of shoes. His store no longer has a monopoly in shoes on that road. What would happen to the price of shoes in Karan's area?
The correct answer is price "de-escalation".
I got it right.
does the miner pool have to actibvely verify that a transaction is valid or do the computers automatically do it
The block is invalid if a miner includes an invalid transaction in it, so they must either validate the transaction themselves or believe that it wouldn't have traveled across the network to get to them if it weren't genuine.
Due to the fact that every Bitcoin node on the network validates transactions and refuses to transmit them to other nodes if they are invalid, the latter technique isn't truly terrible. The likelihood of an incorrect transaction reaching a miner after being broadcast to a randomly chosen node is vanishingly small.
Due to the fact that finding the next valid block is effectively a "race" amongst all miners, the latter is what the majority of them do.
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yellow co. received a large worker's compensation claim of $90,000 in the third quarter for an injury occurring in the third quarter. how should yellow account for the transaction in its interim financial report?
Yellow account for the transaction in its interim financial report $90,000 in the third quarter
What is GAAP?The U.S. Securities and Exchange Commission adopted the accounting standard known as Generally Accepted Accounting Principles, and businesses with U.S. locations often employ it by default. Generally Accepted Accounting Principles (GAAP or US GAAP) is a group of widely used standards and accounting regulations for financial reporting.GAAP aims to harmonize the categorizations, presumptions, and accounting practices utilized throughout US businesses. The information on an organization's finances is meant to be comprehensible, reliable, and comparative. Objectivity, materiality, consistency, and prudence are the four fundamental limitations imposed by GAAP. Aspects of objectivity include things like the independence of the auditor and the verifiability of the data. The FASB has established a set of accounting standards known as GAAP, which U.S. businesses must adhere to when creating financial statements. The goal of GAAP is to make financial information more understandable, reliable, and comparable.To learn more about GAAP refer to:
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ming yue tailoring business works around the needs of the customer by providing hours of operation that vary throughout the week, including some evening and weekend hours. it could be said that ming yue business is
Through a type of training in which he learns to recognize the inner workings of his body, Ming Yue is learning to control his bodily processes. Biofeedback training is the name of this training.
What is the purpose of biofeedback training?Electrical sensors are connected to you during biofeedback, assisting you in receiving body-related data. You can achieve the desired outcomes, such as a reduction in pain, with the assistance of this feedback by making subtle adjustments to your body, such as relaxing particular muscles.
What are three examples of biofeedback?Biofeedback Methods There are three main types of biofeedback: biofeedback using electromyography (EMG): measures the fluctuation in muscle tension over time. temperature or thermal biofeedback: measures changes in body temperature over time. electroencephalography: measures the activity of brain waves over time.
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Full Question = Ming Yue is learning to exercise control over his bodily processes through a form of training in which he learns to recognize the inner workings of his body. This training is known as
Under the terms of a divorce agreement entered into in 2017, Ron is to pay his former wife Jill $10,000 per month. The payments are to be reduced to $7,000 per month when their child reaches age 18. During the current year, Ron paid $120,000 under the agreement. Assuming all of the other conditions for alimony are satisfied, Ron can deduct from gross income (and Jill must include in gross income) as alimony:
Assuming that all of the other alimony conditions are met, Ron can deduct (and Jill must include in gross income) as alimony: $84000 from his gross income.
(12× $7000 = $ 84,000)
In India, is a divorce agreement legally binding?A divorce settlement agreement is a legal agreement prepared in advance of mutual divorce proceedings. This agreement outlines all of the terms and conditions of their divorce. If it is legally enforced, it is deemed to be a legally binding document on all parties involved. By mutual consent, a period of six to eighteen months is granted in divorce to allow the parties time and opportunity to reflect on their decision and seek advice from relatives and friends. Mutual consent should be maintained until the divorce decree is issued. In the majority of cases, the wife receives this support; however, if she has insufficient or no independent income to support herself and the costs of the proceedings, the court may order the husband to pay the costs of the proceeding as well as a monthly allowance during the course of the proceeding.
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4. how much would you have to deposit into an account earning 8% if you wanted to be able to withdraw $100 per year, forever?
The answer in this case would be $1,250. This amount would have to be deposited to reach the required withdrawal amount of $100 each year. If you wanted to withdraw $100 per year from an account that earns 8% interest, you would need to deposit at least $1,250.
This is because you would have to take the required withdrawal amount ($100) and divide it by the rate of return (8%). That $1,250 would then earn 8% interest, providing $100 in income. That $100 of income would be available for withdrawal each year, while the remaining balance would remain in the account earning 8% interest. This process would be repeated each year, providing the required withdrawal amount of $100.
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which statement is most correct regarding the impact of high quality ethics programs on employee observed ethical behaviors?
The statement that is most correct regarding the impact of high quality ethics programs on employee observed ethical behaviors is: Customers expect a firm's products to be safe, reliable, and reasonably priced.
What is ethics?Ethics can be defined as what enables us to know the right behavior and the bad behavior . Ethics is important based on the fact that it enables people to practice or do what is right while avoiding what is wrong.
One of the impact of high quality ethics programs on employee is that Customers has the expectation that companies product should be safe for use or consumption and should as well be reliable.
Therefore we can conclude that practicing ethics is essential in the society.
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true or false: a price ceiling at $100 would create an inefficiency from too many bicycles being produced. this is .
The statement 'a price ceiling at $100 would create an inefficiency from too many bicycles being produced' is true as cost covering will be affected through this price.
The concept of a price ceiling, or a maximum price that can be charged for a product, can be a useful tool for protecting consumers from high prices. However, when it comes to bicycles, a price ceiling of $100 could create an inefficiency in the market due to too many bikes being produced.
This is because a price ceiling of $100 would make it difficult for producers to cover their costs, resulting in fewer bicycles being produced than what is demanded in the market. Ultimately, this could lead to a shortage of bicycles as demand exceeds the available supply.
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Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply.
a. Frances's labor
b. The $475 per week Dmitri earns working for Little Havana
c. The $350 Dmitri spends to purchase software from PC Pros
d. The mojito Frances receives
which components in this scenario symbolize the transfer of wealth from a home to a business.
Why does "firm" signify "company"?The term "business house" first appeared there in English language in 1744, according to the Internet Etymology Dictionary. It is thought to have originated from the German word Firma, which meant "a corporation, name of a business" and was derived from the Italian words Firma, which meant "signature," and Firmare, which meant "to sign."
A company—is it a tiny business?It uses firm income (from $1 million from over $40 million) and employment to define small businesses (from 100 to over 1,500 employees). For instance, a roofing constructor is considered a small business by the SBA if its annual sales is less than $16.5 million.
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which two items are part of the implementation phase of the strategic marketing process? multiple select question.
The two items are part of the implementation phase of the strategic marketing process which is obtaining resources and Designing the marketing organization.
The strategic marketing is the part of market when the company launch their company's products or services in the marketplace. The strategic marketing which involve planning, organization of the target and take action.
The strategic marketing is also performed in the marketing to win in the competition of the related product or services with other organization or company in the marketplace.
The strategic marketing process are of two ways which is B2B or business to business and B2C or business to consumer by the process of obtaining resources and designing the marketing organization.
The question is incomplete, the complete question is:
Which two items are part of the implementation phase of the strategic marketing process? multiple select question.
a. obtaining resources.
b. Designing the marketing organization.
c. Developing schedules
d. Executing the marketing program.
The correct option is A and B.
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Which is an illustration of a microeconomic question?
A) Is the economy experiencing a declining rate of inflation?
B) Is the production of goods and services in the economy greater this year than last year?
C) Will a new type of television set increase the number of buyers?
D) What is the current national rate of unemployment?
According to the given question, Is the rate of inflation within the economy decreasing? is an example of a microeconomic issue.
What exactly is microeconomics?Microeconomics is the area of finance that examines how people make choices and allocate funds as individuals, businesses, and families. Both supply and demand are two examples of microeconomic variables.
Who is the basic economics father?Although academics were making financial findings long before Adam Johnson published The Wealth of Peoples in 1776 and the subject of economics began the with observations of the early economists, such as the Scottish philosophy often regarded as the founder of economics.
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debra and her top managers are choosing the goals for the company and deciding the appropriate actions needed to achieve those goals. which management function are they performing?
Debra and her top managers are performing the management function of planning. Planning is the process of setting goals and determining the actions needed to achieve those goals.
It involves identifying the resources required and creating a roadmap for achieving the desired outcome. Planning is a critical function of management as it enables organizations to set clear objectives, allocate resources effectively, and anticipate and respond to changes in the external environment. It also helps managers to identify potential risks and develop strategies to mitigate them. In the context of Debra and her top managers, they are likely identifying the company's strategic goals and objectives, determining the actions needed to achieve those goals, and allocating resources in a way that supports the achievement of the goals.
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on april 1, west co. purchased a tract of land as a factory site for $500,000. an old building on the site was razed, and materials salvaged from the demolition were sold. additional costs incurred and salvage proceeds realized during april were as follows: description amount costs to raze old building $60,000 legal fees for purchase contract and to record ownership 12,000 title guarantee insurance 14,000 proceeds from sale of salvaged materials 9,000 in its april 30 balance sheet, what amount should west report as land?
In East's December 31, 2005 Balance Sheet, 332,000 should be reported as land.
What is a simple balance sheet?A balance sheet is an overview of an entity's financial standing in financial accounting, whether it be a sole proprietorship, a business partnership, a corporation, a private limited company, or another type of entity like a government or not-for-profit institution. The assets, liabilities, and owner's equity of a company are listed on a balance sheet as of any particular date. The end of predetermined periods is often when a balance sheet is created (e.g., every quarter; annually). Two columns are present on a balance sheet. Assets for the business are listed in the column on the leftThe correct answer, $332,000, equals: $300,000 + $25,000-$4,000 + $5,000 + $6,000.
Because it is a cost required to transform the land into its intended state, the net cost of demolishing the previous structure ($21,000) is capitalized to land. In order to prevent future legal issues, it is necessary to pay the legal fees and title guarantee costs, which raises the value of the property.The complete question is,
On December 1, 2005, East Co. purchased a tract of land as a factory site for $300,000. The old building on the property was razed and salvaged materials resulting from demolition were sold.
Additional costs incurred and salvage proceeds realized during December 2005 were as follows:
Cost to raze old building $25,000
Legal fees for purchase contract and to record ownership $5,000
Title guarantee insurance $6,000
Proceeds from sale of salvaged materials $4,000
In East's December 31, 2005 Balance Sheet, what amount should be reported as land?
$311,000
$321,000
$332,000
$336,000
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on june 1 of the current year, a company entered into a real estate lease agreement for a new building. the lease is an operating lease and is fully executed on that day. according to the terms of the lease, payments of $28,900 per month are scheduled to begin on october 1 of the current year and to continue each month thereafter for a total of 56 months. the lease term spans five years. the company has a calendar year end. what amount is the company's lease expense for the current calendar year?
The amount $188,813 is the company's lease expense for the current calendar year.
What is the lease expense?There are no lease payments for the first four months of the lease term. Under the matching principle, however, each month bears the same lease expense because the firm receives the same benefit from the lease each month.The monthly lease expense is calculated as the ratio of total lease payments to the lease term in months.
The total lease payments = $28,900 x 56
= $1,618,400
The lease term has a duration = 60 months (5 x 12).
As a result, the monthly lease expense is:
= $1,618,400/60
= $26,973.33
During the current calendar year, the company occupied the property for 7 months (June - December inclusive).
As a result, the current calendar year lease expense = $26,973.33 x 7
= $188,813
Therefore the lease expense will be $188,813.
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$188,813 is the company's lease expense for the current calendar year with $28,900 per month are scheduled to begin on october 1 of the current year and to continue each month thereafter for a total of 56 months.
What is a lease?A lease is a contract that calls for the user to pay the owner in exchange for using a piece of property. Automobiles, buildings, and real estate are common leaseable assets. Equipment for the commercial or industrial sector can also be leased. A lease is, in its most basic form, a contract between the lessor and the lessee. The asset is legally owned by the lessor, who also receives the right to use it in exchange for recurring rent payments from the lessee. The lessee also agrees to abide by specific guidelines when utilising the property or equipment. For instance, a person leasing a car might accept the restriction that the vehicle will only be used for personal transportation.
To solve the question :
No lease payments are necessary for the first four months of the lease period. The firm will receive the same benefit from the lease each month, so under the matching principle, each month carries the same leasing expense. The ratio of the total lease payments to the number of months in the lease period is known as the monthly lease expense.
Lease payments total $1,618,400 ($28,900 x 56).
Number of months in the lease term = 60 (5 x 12).
Thus, the monthly lease expense will be :
= $1,618,400 / 60
= $26,973.33.
Throughout the current calendar year, the business occupied the space for 7 months. (June - December inclusive).
Thus, the lease expense for the current calendar year will be:
= ($26,973.33 x 7)
= $188,813
The absence of a lease payment for the first four months does not imply that the company will not incur any lease costs during those months.
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if a country sold more goods and services to the rest of the world than they purchased from the other countries, then the country has a:
The country has a trade surplus. This means the value of the goods and services exported is greater than the value of the goods and services imported.
This indicates that the country is able to produce more goods and services than it requires and is in a relatively strong economic position.
A tangible object that buyers want or own is a good. Despite not being a material or physical object, consumers nevertheless desire services. A service can frequently be delivered remotely as well. The terms "goods" and "services" collectively describe what people consume and pay for.
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