True. performance, products, and services that consistently meet or exceed the expectations of the customer by doing the right job, the right way, the first time, every time: TQM.
Total Quality Management (TQM) is a management approach that focuses on the continuous improvement of quality in order to meet or exceed customer expectations. It is a holistic approach that involves all aspects of an organization, from the top management to the front-line employees. TQM focuses on process improvement, customer satisfaction, and employee involvement. It emphasizes the importance of quality in all aspects of the organization, from product design and development to production and delivery. TQM involves the use of various tools and techniques to ensure that quality is maintained throughout the organization. These tools and techniques include process mapping, process control, statistical process control, quality assurance, and quality control. TQM also involves the use of quality management systems such as ISO 9000 and Six Sigma. TQM also emphasizes the importance of training and development of employees in order to ensure that they are able to meet the organization's quality standards.
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A reason why consumers conform is ______. A) cultural pressures. B) fear of deviance. C) commitment. D) all of the above. all of the above.
A reason why consumers conform is : D) all of the above.
Who is a consumer?A consumer can be defined as end user or final user of a product and this consumer tend to buy goods directly from retailers while retailers buy from wholesaler.
Consumer are essentials for every business based on the fact that they makes it possible for goods produce by companies to be make use of.
The following are the major reasons why consumers conform:
Cultural pressuresFear of devianceCommitmentTherefore we can conclude that the correct option is D.
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They accept deposits from savers & make loans to people who need it. They provide various services, such as checking accounts & money markets transactions, to facilitate capital exchange between savers & people who need it. What type of financial institution is this?
The financial institution that provides various services , checking accounts ,money market transactions and loans ,accepts deposits are commercial bank.
Option B is correct.
Commercial Bank :A commercial bank is a type of bank that accepts deposits, provides checking account services, makes personal, business, and mortgage loans, and provides individuals and small businesses with basic financial products like savings accounts and certificates of deposit .
What exactly is an FI (financial institution)?A company that deals with financial and monetary transactions like deposits, loans, investments, and currency exchange is known as a financial institution (FI). Banks, trust companies, insurance companies, brokerage firms, and investment dealers are all examples of financial institutions, which include a wide range of business operations in the financial services sector.
Incomplete question :
They accept deposits from savers & make loans to people who need it. They provide various services, such as checking accounts & money markets transactions, to facilitate capital exchange between savers & people who need it. What type of financial institution is this?
A. Investment bank
B. Commercial bank
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question content area in the stockholders' equity section of a classified balance sheet, is a distinction is made between the amounts invested by owners and the amounts financed by creditors.
a. true
b. false
This statement is true. A difference is established in the shareholders' equity portion of a categorized balance sheet between amounts invested by owners and amounts funded by creditors.
The stockholders' equity section of a classified balance sheet is used to report the amounts invested by owners and the amounts financed by creditors. This distinction is important because it helps to show the financial position of the company and how much of the company's assets are owned by the owners and how much is owed to creditors. Stockholders' equity, also appertained to as shareholders' or possessors' equity, is the remaining quantum of means available to shareholders after all arrears have been paid. It's calculated either as a establishment's total means less its total arrears or alternately as the sum of share capital and retained earnings less storeroom shares. Stockholders' equity might include common stock, paid-in capital, retained earnings, and storeroom stock.
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social media facilitates which of the following for business professionals? (choose every correct answer.)
Social media facilitates- ongoing learning about their company gaining insights into best work practices
Social media is the online platform that enables people to communicate with one another, share files, information, and photographs, and keep in touch. Many individuals utilize this site to make money by sharing popular, innovative stuff. It has developed into an addictive form of exercise as well. Children skim through strangers' or ideals' posts or discussions for hours at a time. Social media can be a potent tool for influencing politics and other systems that have a tendency to have a large-scale impact on people's lives. Therefore, it is essential that we use social media in moderation so that it does not completely take over peoples' everyday lives.
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Out of the choices provided above, the business professionals that the social media facilitates, include,
Ongoing learning about their companyGaining insights into best work practicesTherefore, the options A and B hold true.
The use of social media is to be largely taken into consideration as a facility for the business professionals nowadays. This is because the business professionals can let their consumers learn about what their company does. It also helps to a greater extent in getting analytical insights related to the work practices that must be followed.
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Complete question
Social media facilitates which of the following for business professionals? (choose every correct answer.)
Ongoing learning about their company
Gaining insights into best work practices
the fish in the private creek are considered and whereas the fish in the lake are and . in other words, the fish in the private creek are an example of , and the fish in the lake are an example of . fishing in the lake will likely lead to because of which of the following reasons? anyone can fish in the lake, and one person's fishing activity decreases the ability of someone else to fish with success. all fishermen will choose to fish in the lake because of the limited access to the creek. nobody will enjoy fishing because of the lack of private contributions to the maintenance of the lake. all fishermen will choose to fish in the creek believing that there are more fish there.
The correct answer is option (1) Anyone can fish in the river, and one's person's fishing activity decreases the ability of someone else to fish with success.
What is fishing in river and fishing in the private creek?While the fish in the private stream is rival in consumption and excludable, the fish in the river are regarded as non-excludable and rival in consumption.
In other words, fish in the river serves as an illustration of a shared resource, whereas fish in a private stream serves as an illustration of a personal good.
Because anybody can fish in the river and one person's fishing activity reduces another person's chances of fishing successfully, fishing in the river is likely to result in the tragedy of the commons.
What is the tragedy of the commons?A condition known as the tragedy of the commons occurs when people who have access to a shared resource, also known as a common, act selfishly and finally deplete the resource. In 1833, British author William Forster Lloyd created this economic theory.
The number of users who desire to consume the common issue, the consumptiveness of their uses, and the relative resilience of the common all play major roles in determining the rate of resource depletion.
While the fish in the private stream is rival in consumption and excluded by nature, the fish in the river are non-excludable and rival in consumption. In other terms, a common resource might be fish in a river.
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according to the absorption approach, an increase in domestic expenditures must occur for currency devaluation to promote balance of trade equilibrium.
According to the absorption method to balance of payments, a growth in a country's output of goods and services must exceed its absorption before the balance of trade will improve.
How does currency devaluation affect domestic prices?A devaluation diminishes the value of the currency by purposefully adjusting the official exchange rate downward; in contrast, a revaluation increases the value of the currency. The home currency becoming less expensive in comparison to other currencies is one of the main effects of devaluation.
The trade balance theory is what?Equilibrium in the trade balance is depicted here. The trade balance, commonly referred to as the balance of trade (BOT), is the difference between the monetary worth of a country's imports and exports over a given period of time.
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Many big box stores offer “Same as Cash for 12 Months”. What is the implied interest rate here? What is the “catch”, if there is one? Do some research if needed.
Answer:
"Same as Cash for 12 Months" is a type of financing option offered by big box stores that allows customers to purchase goods and pay them off over a 12 month period without incurring any interest. The implied interest rate in this case is 0%. However, there is usually a "catch" with this type of financing option. The catch is that if the customer does not pay off the balance in full within the 12 month period, they will be charged retroactive interest on the entire balance at a high rate, usually above 20% annually. So it is important for the customer to pay off the balance on time or else they will end up paying much more than the original purchase price. Additionally, some stores may also require a down payment or have other terms and conditions that may not be favorable. It is recommended for customers to read the fine print and understand the terms and conditions before availing this offer.
barclay bikes manufactures and sells three distinct styles of bicycles: the youth model sells for $380 and has a unit contribution margin of $125; the adult model sells for $890 and has a unit contribution margin of $470; and the recreational model sells for $1,120 and has a unit contribution margin of $520. the company's sales mix includes: 5 youth models; 9 adult models; and 6 recreational models. if the firm's annual fixed costs total $6,540,000, calculate the firm's contribution margin ratio per composite unit (rounded to the nearest whole percentage). Multiple Choice
40.0%.
66.7%.
19.8%.
50.0%.
20.2%.
50.0% is the firm's contribution margin ratio per composite unit. A company's contribution margin ratio is the percentage difference between its revenue and variable costs.
What is the margin ratio?The profit margin ratio demonstrates how well a company is managing its finances as a whole by comparing profit to sales. Every time, a percentage is used to express it. Three additional sorts of profit margins are useful which are the net profit margin, operating profit margin, and gross profit margin.
Given:
Firm's Contribution Margin Ratio per Composite Unit
= Contribution Margin per composite unit / Sales Price per composite unit × 100,
Firm's Contribution Margin Ratio per Composite Unit
= $7,975 / $16,630 × 100,
Firm's Contribution Margin Ratio per Composite Unit
= 0.47955 × 100,
Firm's Contribution Margin Ratio per Composite Unit
= 50% (rounded to the nearest whole percentage).
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a mixed economy multiple choice relies on the use of central planning by private firms rather than the government. is one that allows trade with other countries. is justified by the superiority of laissez faire over government intervention. utilizes both market and nonmarket signals to allocate goods and services.
The correct option is B. Utilizes both market and nonmarket signals to allocate goods and services.
Nonmarket forces (or non-market forces) are those that affect economic factors yet operate independently of a market system. They consist of forces used by price systems other than the free price system, as well as organizing and correcting elements that give order to markets and other societal institutions and organizations. At least since the late 1940s, this phrase has been in use. In 1970, A.O. Hirschman defined "exit and voice as market and nonmarket forces, that is, economic and political procedures," paraphrasing a Kenneth Arrow article from 1963 that discussed "nonmarket social structures." The term "nonmarket," as well as its prefixes "non-economic" and "social," shows the extensive search for a phrase that would include what is "not market."
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A mixed economy
A. Is justified by the superiority of laissez faire over government intervention.
B. Utilizes both market and nonmarket signals to allocate goods and services.
C. Relies on the use of central planning by private firms rather than the government.
D. Is one that allows trade with other countries.
if a firefighter told you to leave your apartment, you would comply because the firefighter has power. question 7 options: legitimate coercive referent reward
You would leave your residence if a firefighter ordered you to do so because the firefighter has
What does moral influence and leadership entail?Legitimate authority derives from one's organizational position or job. A manager can assign assignments, a police officer can detain a person, and a teacher can determine grades, for instance.
Who is legitimately in charge?Possessing legitimate power in an organization comes from holding a leadership position, such as being the boss or an important member of a leadership team. Employees in the organization must acknowledge the individual's authority in order for them to have this power.
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Which of the following would be included in a life-cycle assessment of the construction phase? (Select all that apply.)
emissions from transportation of workers
impact of inspectors, architects, engineers, and surveyors
cost of recycling building materials after demolition
waste generated by the construction process
Answer:
All of the following would be included in a life-cycle assessment of the construction phase:
emissions from transportation of workers: This includes emissions from vehicles used to transport workers to and from the construction site, which can contribute to air pollution and greenhouse gas emissions.
impact of inspectors, architects, engineers, and surveyors: This includes the environmental impact of the activities and materials used by these professionals during the construction phase, such as energy used in office and travel, paper usage, etc.
cost of recycling building materials after demolition: This includes the cost of recycling or repurposing materials from a building after it has been demolished, which can help to reduce waste and minimize the environmental impact of demolition.
waste generated by the construction process: This includes waste generated during the construction phase, such as excess building materials, debris, and waste generated by workers on the construction site.
All these elements are included in a Life-Cycle Assessment (LCA) of the construction phase to identify the environmental impacts of the construction process, and to identify opportunities for improvement or mitigation.
Explanation:
A Life-Cycle Assessment (LCA) is a tool used to evaluate the environmental impacts of a product or process over its entire life cycle, from the extraction of raw materials to the disposal of the product at the end of its useful life. In the case of construction, an LCA of the construction phase would include all the inputs and outputs of the construction process, including materials, energy, and labor, as well as any resulting emissions or waste.
By including emissions from transportation of workers, impact of inspectors, architects, engineers, and surveyors, cost of recycling building materials after demolition, and waste generated by the construction process, the LCA provides a comprehensive understanding of the environmental impact of the construction phase. This information can then be used to identify areas where improvements can be made to reduce the environmental impact of the construction process.
For example, by identifying the emissions from transportation of workers, the LCA can help to identify opportunities to reduce emissions by implementing more efficient transportation methods or by encouraging workers to carpool. Identifying the cost of recycling building materials after demolition can help to identify opportunities for more efficient use of materials and to find more sustainable ways to recycle or repurpose materials.
In summary, an LCA of the construction phase considers all the inputs and outputs of the process, including materials, energy, and labor, as well as any resulting emissions or waste, to identify areas where improvements can be made to reduce the environmental impact of the construction process.
alma bought a laptop computer at a store that gave a 202020 percent discount off its original price. the total amount she paid to the cashier was pp dollars, including an 888 percent sales tax on the discounted price. which of the following represents the original price of the computer in terms of pp ?
P/ (0.8) represents the original cost of the machine in terms of p. (1.08)
How do you calculate percentage of sales tax?
A typical method for figuring out percentages is to use the formula shown below:
Decide on the entire or total amount for which you are seeking a percentage. As an illustration, if you wish to determine the proportion of days it Divide the amount you want to calculate the percentage for by 2. Consider the previous scenario, where 15 out of the 30 days in April had rain.Add 100 to the figure you calculated in step two.Sales taxes typically take a portion of the cost of the items sold. For instance, a city's residents might pay a total of 7.5% in sales taxes if the state levies a 4% rate, the county 2%, and the city 1.5%.To learn more about percent sales tax refer to:
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From January to December of 222, desktop computer items range in price from 15,000 to 21,025 each piece. These are approximate figures based on prices of well-known goods.
What was the original personal computer?The Altair, the first personal computer, was created by a small company called MITS. This machine was created in 1974 using an 8080 CPU from Intel Corporation. Despite being well-liked by computer hobbyists, the Altair had a small market.A personal computer (PC), as it is more often known, is a microcomputer created for use by one person at a time. Prior to the invention of the personal computer, computers were made (and could only be afforded by) businesses that connected terminals for numerous users to a single, powerful computer, the resources of which were shared by all users.The United States developed the first programmable general-purpose electronic digital computer, known as ENIAC, during World War II. ENIAC stands for Electronic Numerical Integrator and Computer. John Mauchly, a physicist from the United States, and J.To learn more about computer refer to:
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all systems are built based on business logic. business logic determines what action should be taken based on user input or third-party intervention. business logic contains business rules that ensure the integrity of its logic. for example, one business rule for an atm is to not dispense more money than the user has in their account. What type of requirements are business rules for system use? Select one. Functional Requirements Nonfunctional Requirements
Business good judgment determines what movement to take primarily based totally on consumer enter or third-celebration intervention.
Business good judgment incorporates commercial enterprise guidelines that make certain the integrity of this good judgment. For example, an ATM's commercial enterprise rule is that customers should not spend extra money than they've of their account. Business good judgment determines how statistics is displayed, stored, created, and modified. It offers a fixed of guidelines that manipulate how commercial enterprise gadgets (portions of software program that manipulate statistics transfer) paintings together. Business good judgment additionally controls how commercial enterprise gadgets in software program are accessed and updated.
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In 1939 Roosevelt put Keynesian economic theory to work by requesting billions of dollars for work relief and farm aid in an attempt to sustain the purchasing power of individual Americans and stimulate the economy. T or F?
The statement 'In 1939 Roosevelt put Keynesian economic theory to work by requesting billions of dollars for work relief and farm aid in an attempt to sustain the purchasing power of individual Americans and stimulate the economy' is true so that the country could be brought out of the phase of the great depression.
In 1939, President Franklin D. Roosevelt put the Keynesian economic theory into practice. He requested billions of dollars for work relief and farm aid to ensure that individual Americans maintained their purchasing power, as well as to stimulate the economy. This was a critical move in the efforts to bring the country out of the Great Depression.
In 1939, President Franklin D. Roosevelt put Keynesian economic theory into practice. He requested billions of dollars in federal funding for work relief and farm aid programs, as a way to maintain the buying power of individual Americans and invigorate the economy. This move proved to be successful and was an important step in the history of Keynesian economics.
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A house is being purchased for $138,000.00. The 3030-year mortgage has a 10% down payment, an interest rate of 4.875%, and a PMI payment of $25.88 each month for 77 months. The yearly taxes are $2400.00, and the insurance is $750.00 per year, which is to be placed into an escrow account. What is the total cost of the loan? Round your answer to the nearest $100.00.
The entire amount of the loan is $304,200.00, rounded up to the closest $100.00.
What is a mortgage?A mortgage is a sort of loan that enables people to borrow money from a lender to buy a property, often a house. The borrower is obligated to pay the lender on a monthly basis until the debt is repaid and the property is used as collateral for the loan. At the time of the loan, the terms, including the interest rate and the period, are agreed upon. Mortgages are long-term loans with average payback terms of 15 to 30 years. The monthly payments include both interest and principal, and the interest rates may be fixed or variable. The loan's initial principal and interest payment together make up the principal.
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is a planned economic system in which the government owns and operates only selected major sources of production.
economic system that is planned, in which the government only owns and controls a small number of the key sources of output. Supply. Production companies' readiness and capacity to...
What is an economic example?
economic system that is planned, in which the government only owns and controls a small number of the key sources of output. Supply. Production companies' readiness and capacity to... As an illustration, farmers who grow more corn lower the crop's price to increase the amount of produce they can sell. The amount of corn required to feed the country's population, for example, would require a surplus of produce, which would result in farmers losing their cost of production. If the supply is too great, this would force wasteful production.
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The owners of a small manufacturing concern have hired a vice president to run the company with the expectation that she will buy the company after five years. In this initial contract, compensation of the new vice president is a flat salary plus 75% of the first $150,000 profit, then 10% of profit over $150,000. The initial contract also stipulates that, after a five-year period, the purchase price of the company will be 4.5 times earnings (profit), computed as average annual profitability over the next five years. Assume the company will be worth $10 million in five years. The goal of the owners of the firm is to maximize profits.
A contract that fixes the purchase price of the firm after five years at $2 million would make the incentives of the vice president more aligned with the goals of the firm, compared with the original contract.
By fixing the purchase price of the firm at $2 million after five years, the vice president is incentivized to maximize profits during her tenure in order to maximize her return on investment.
This is because the higher the profits of the firm, the more valuable the firm will be in the future and the more money the vice president will make when she eventually buys the company. In the original contract, the vice president is only incentivized to make the first $150,000 in profits, after which her incentives become much less aligned with the goals of the owners of the firm.
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fourlotts inc. is a renowned technological firm. it manages many strategic business units (sbus) in which each sbu:
Fourlotts Inc. is a renowned technological firm, it manages many strategic business units (SBUs) in which each SBU: has its own return on investment.
What is strategic business units?An SBU, or strategic business unit, is a fully operational part of a company with its own mission and goals. A strategic business unit is typically run independently, but it is also an essential component of the corporation. It informs the administrative center of its functioning condition.
Despite operating as a separate company, a strategic business unit (SBU) is required to report on its operations to the organization's head office. It's independent, target-market-focused, and runs on its own. It's large enough to have its own administrative departments, including those for human resources and training. The existence of an SBU has numerous advantages.
For businesses with a variety of product structures, this theory works well. Companies like Proctor & Gamble, LG, and other SBU examples are the best examples. Under one roof, these businesses offer a variety of product categories. One company that produces consumer durables is LG.
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which of the following will lead to increased investment? select all that apply: higher degree of business confidence lower interest rates decreased money supply decreased disposable income
Higher degree of business confidence will lead to increased investment.
Business Confidence:
Business Confidence describes how optimistic or pessimistic a company is about its current and future operating and financial conditions. Several factors influence it, including economic conditions, consumer confidence, demand, and operating conditions.
This business environment indicator provides information on future developments based on opinion polls on industry production, orders and finished product inventory developments. It can be used to monitor production growth and predict tipping points in economic activity.
Investment:
Investing is using money to buy an asset and increase its value over a period of time. Investing requires sacrificing your current wealth, Time, Money, or Effort.
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which of the following methods do managers use to estimate the fixed and variable components of mixed costs by analyzing past records of cost and activity data?
The least-squares regression method is used to estimate the fixed and variable components of mixed costs by analyzing past records of cost and activity data. This method is more accurate than the high-low method.
The least-squares regression generally described as a statistical procedure to find the best fit for a set of data points by minimizing the sum of the residuals of points or offsets from the plotted curve. This method is used to predict the behavior of dependent variables.
There are requirements for least-squares regression. The requirements are:
First, your data should be a random sample from the population. In other words, the residuals should not be correlated or connected to each other in any way. The residuals' expected value is zero.The independent variables should not be strongly collinear.Which of the following methods do managers use to estimate the fixed and variable components of mixed costs by analyzing past records of cost and activity data?
a. scattergraph
b. account analysis
c. least-squares regression
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Most real-world choices aren't about getting all of one thing or another, instead, most choices involve _________________, which involves comparing the benefits and costs of choosing a little more or a little less of a good.
answer choices
Planning
Opportunity sets
Marginal analyses
Marginal analysis
Most real-world choices aren't about getting all of one thing or another, instead, most choices involve 4) Marginal analysis, which involves comparing the benefits & costs of choosing a little more or a little less.
What is marginal analysis?This type of analysis has to do with comparing the benefits that a company may get with the amount of money that it has to pay in order to achieve such a benefit. It is an important tool for making decisions as it can help companies avoid bad decisions and make a lot of profit.
It is believed that the rational man makes marginal analysis.
For example, a rational man would continue consumption up to the point that the marginal utility of the last bottle consumed equals the marginal price.
If marginal utility falls below the price, consumption should stop.
If marginal utility is above price, consumption should continue.
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On 1/1/2019, Colin and Associates purchased five apartments to rent out to tenants and earn rental income. The details regarding the assets are given as under:
Apartment/Acquisition Cost/Useful Life
1 100,000 10
2 120,000 8
3 95,000 5
4 33,000 5
5 30,000 3
Given that the firm decides to value the apartments at their fair values, calculate the depreciation to be charged on the statement of income on 12/31/2019. The fair values all apartments went up by 8%, except for the 4th apartment whose fair value decreased by 9.25%.
A $0
B $64,310
C $3,053
D $60,600
D) The total depreciation to be charged on the statement of income on 12/31/2019 is $60,600.
To calculate the depreciation to be charged on the statement of income on 12/31/2019:
Determine the fair value of each apartment at the end of the year by multiplying the original acquisition cost by the percentage change in fair value:
Apartment 1: $100,000 x 1.08 = $108,000
Apartment 2: $120,000 x 1.08 = $129,600
Apartment 3: $95,000 x 1.08 = $102,600
Apartment 4: $33,000 x 0.9175 = $30,049
Apartment 5: $30,000 x 1.08 = $32,400
Calculate the total fair value of all the apartments by adding up the fair values of each apartment:
$108,000 + $129,600 + $102,600 + $30,049 + $32,400 = $402,649
Determine the useful life of each apartment in years, and divide the original acquisition cost of each apartment by the useful life to determine the annual depreciation:
Apartment 1: $100,000 / 10 years = $10,000
Apartment 2: $120,000 / 8 years = $15,000
Apartment 3: $95,000 / 5 years = $19,000
Apartment 4: $33,000 / 5 years = $6,600
Apartment 5: $30,000 / 3 years = $10,000
Add up the annual depreciation for each apartment to determine the total depreciation to be charged on the statement of income:
$10,000 + $15,000 + $19,000 + $6,600 + $10,000 = $60,600
So the total depreciation to be charged on the statement of income on 12/31/2019 is $60,600.
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Two of the most important attitudes with respect to how managers will approach their jobs are
Two of the most important attitudes with respect to how managers will approach their jobs are conscientiousness. -a belief in organizational norms
Who are the managers?A manager is a professional who leads an organization and oversees a team of people. Managers are frequently in charge of a certain department inside their firm. There are several sorts of managers, but they all have responsibilities such as conducting performance evaluations and making decisions.
Opinions differ on the particular top tasks of a manager, although they undoubtedly involve , administration, and successful delegating.
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Businesses often maintain records about vendors' pricing, delivery terms, and credit policies and use the information in the records to answer choices
follow safe shipping procedures
negotiate higher discounts
monitor inventory levels
award purchasing contracts
Businesses often maintain records about vendors' pricing, delivery terms, and credit policies and use the information in the records to: award purchasing contracts.
What are purchasing contracts?Purchase contracts, also known as procurement contracts, are agreements between buyers and sellers that create a binding legal connection and provide protection for both parties during the whole procurement process. The following factors must be present for a contract to be legitimate and recognized by the common law: offer, acceptance, consideration, intention to establish a legal relationship, power and competence, and certainty. A contract is not legally enforceable and cannot be enforced by the courts if it lacks these components. By safeguarding both the buyer and the seller, a strong procurement contract strengthens commercial ties. By including all previously agreed-upon information, such as the standard of the supplies to be utilized, the specifications of the services to be rendered, the deadlines, charges, and costs, etc.To learn more about purchasing contracts refer to:
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Required information SB (Static) Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost of Work in Process [LO 3-2, 3-3, 3-S1] [The following information applies to the questions displayed below.] Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 40% for conversion) 58,000 units Direct materials $ 86,000 Conversion cost $ 116,000 Number of units started 164,000 units April costs Direct materials $ 232,000 Conversion cost $ 342,000 Work in process, April 30 (100% complete for materials, 20% for conversion) 83,000 units E3-7 (Static) Weighted-Average Method [LO 3-2, 3-3] Required: Using the weighted-average method, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process.
1) The number of physical units worked on during the period is 139,000.
2) The number of equivalent units is as follows:
Materials Conversion
Equivalent units 222,000 155,600
3) The cost per equivalent unit is as follows:
Materials Conversion
cost per equivalent unit $1.43 $2.94
4) The reconciliation of the total cost of work in process is as follows:
Materials Conversion Total
Total production costs $318,000 $458,000 $776,000
Finished units $198,770 $408,660 $607,430
Ending WIP $118,690 $48,804 $167,494
Total accounted for $317,460 $457,464 $774,924
Differences due to appr. $540 $536 $1,076
What are equivalent units?Equivalent units are based on the weighted percentages of completion.
They represent the physical units assumed to have been completed when it is impossible to determine with 100% accuracy.
The two methods for determining the equivalent units are the weighted-average method and the FIFO method.
Work in process, April 1 (100% complete for materials, 40% for conversion) 58,000 units
Direct materials $ 86,000
Conversion cost $ 116,000
The number of units started = 164,000 units
April costs:Direct materials $ 232,000
Conversion cost $ 342,000
Work in process, April 30 (100% complete for materials, 20% for conversion) 83,000 units
Physical Units:Beginning WIP 58,000
Units added 164,000
Ending WIP (83,000)
Units worked 139,000
Equivalent Units of Production:(Weighted-Average Method)
Units Materials Conversion
Units started and completed 139,000 139,000 (100%) 139,000 (100%)
Ending work in process 83,000 83,000 (100%) 16,600 (20%)
Equivalent units 222,000 155,600
Cost per Equivalent Unit:Materials Conversion Total
Beginning WIP $86,000 $116,000 $202,000
April costs added 232,000 342,000 574,000
Total production costs $318,000 $458,000 $776,000
Equivalent units 222,000 155,600
Cost per equivalent unit $1.43 $2.94
Costs Accounted For:Materials Conversion Total
Total production costs $318,000 $458,000 $776,000
Finished units $198,770 $408,660 $607,430
($1.43 x 139,000) ($2.94 x 139,000)
Ending WIP $118,690 $48,804 $167,494
($1.43 x 83,000) ($2.94 x 16,600)
Total accounted for $317,460 $457,464 $774,924
Differences due to appr. $540 $536 $1,076
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Indicate whether the accounts below are used in the cost flow for a manufacturer, a service provider, or both.
Cost of Services Cost of Goods Sold Factory Overhead Finished Goods Materials Overhead Supplies Wages Payable Work in Process
Manufacturer: Cost of Goods Sold, Factory Overhead, Finished Goods, Materials Overhead, Supplies, Work in Process Service Provider: Cost of Services, Wages Payable.
Cost of goods vended (COGS) refers to the direct costs of producing the goods vended by a company. This quantum includes the cost of the accoutrements and labor directly used to produce the good. It excludes circular charges, similar as distribution costs and deals force costs. Cost of goods vended is also appertained to as" cost of deals." COGS is an important metric on the fiscal statements as it's abated from a company’s earnings to determine its gross profit. The gross profit is a profitability measure that evaluates how effective a company is in managing its labor and inventories in the product process. Cost of goods vended( COGS) is the cost of acquiring or manufacturing the products that a company sells during a period, so the only costs included in the measure are those that are directly tied to the product of the products, including the cost of labor, accoutrements , and manufacturing outflow.
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a car and a truck start from rest at the same instant, with the car initially at some distance behind the truck. the truck has a constant acceleration of 2.10 m>s2, and the car has an acceleration of 3.40 m>s2. the car overtakes the truck after the truck has moved 60.0 m. (a) how much time does it take the car to overtake the truck? (b) how far was the car behind the truck initially? (c) what is the speed of each when they are abreast? (d) on a single graph, sketch the position of each vehicle as a function of time. take x
Each travels at a speed of 25.865 m/s while passing the other.
What is a constant acceleration?The term "acceleration" refers to how quickly a particle's velocity changes with relation to time. Constant acceleration is the term used when a particle's velocity changes at a fixed pace.It is true that a = v v 0 t. We can deduce from this that, for a fixed period of time, if the difference between the starting and final velocities is small, the acceleration is modest and approaches zero in the limit where the initial and final velocities are identical. Let's look at an example of a particle travelling in a uniform circular motion; it experiences acceleration because the motion's direction is changing, but it maintains a constant speed along the tangential throughout the motion.(a) After t sec the truck moved
[tex]$& \mathrm{s}=\mathrm{ut}+\frac{1}{2} \mathrm{at}^2 \\[/tex]
[tex]$& \text { Initial velocityu }=0 \\[/tex]
[tex]$& 60=\frac{1}{2} \times 2.20 \times \mathrm{t}^2 \\[/tex]
[tex]$& \mathrm{t}^2=54.54 \\[/tex]
[tex]$& \mathrm{t}=7.39 \mathrm{sec}[/tex]
(b) Let the distance be d meters
When they met, automobile moved
[tex]$& 60+d=\frac{1}{2} \times 3.50 \times t^2 \\[/tex]
[tex]$& 60+d=\frac{1}{2} \times 3.50 \times 7.39^2 \\[/tex]
60 + d = 95.57
d = 95.57 - 60
d = 35.57 m
(c) Velocity of truck
[tex]$& \mathrm{v}_{\mathrm{T}}=\mathrm{u}+\mathrm{at} \\[/tex]
[tex]$& \mathrm{v}_{\mathrm{T}}=2.20 \times 7.39=16.258 \mathrm{~m} / \mathrm{s}[/tex]
Velocity of automobile
[tex]$& \mathrm{v}_{\mathrm{A}}=\mathrm{u}+\mathrm{at} \\[/tex]
[tex]$& \mathrm{v}_{\mathrm{A}}=3.50 \times 7.39=25.865 \mathrm{~m} / \mathrm{s}[/tex]
The complete question is:
An automobile and a truck start from rest at the same instant, with the automobile initially at some distance behind the truck. Then truck has a constant acceleration of 2.2 m/s² and the automobile has an acceleration of 3.5 m/s². The automobile overtakes the truck when it (truck) has moved 60 m.
(a) How much time does it take to automobile to overtake the truck?
(b) How far was the automobile behind the truck initially?
(c) What is the speed of each during overtaking?
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T/F: One of the biggest challenges for the growth of e-commerce is the development of fast, secure, and reliable payment methods for buying goods.
One of the biggest challenges for the growth of e-commerce is the development of fast, secure, and reliable payment methods for buying goods, therefore the above statement is True.
What effects does online shopping have on businesses?
National and international marketplaces are added to the marketplace by electronic commerce. It lowers the price of producing, processing, disseminating, and retrieving information that is on paper. Because it lowers transaction costs, e-commerce is tremendously important. Consumer empowerment results from lower transaction costs.
The creation of quick, secure, and dependable payment methods for purchasing items is one of the main obstacles to the expansion of e-commerce, so the aforementioned statement is accurate.
Therefore, E-commerce significantly lowers the start-up costs necessary to launch a business.
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employee ____ describes the acquiring of knowledge, skills, and behavior in the service of meeting the challenges of existing or possible future jobs.
Employee development describes the acquiring of skills, knowledge,and behavior in the service of satisfying the challenges of existing or possible future jobs.
Employee development is a method of improving employees' existing skills and competencies and developing newer ones to support the enetrprose's goals. Inherent in this description is the following adequate points of interest: Employee development is not just about developing organizational learning and development strategies.
Eemployee development is essential in the sense that it enables the companies to provide their team with the skills they require to improve their day-to-day work, acquire better outcomes, and elevate their bottom line. A better-trained workforce carries increased output for the company.
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on jan. 2, callie taylor invests $40,000 into the business in exchange for common stock. she journalized the transaction as follows but something is wrong with the journal entry. use your knowledge of what a correct journal entry should look like to identify everything that is wrong. select all answers which apply.
The correct journal to record this transaction exists-
Cash Debit $40,000
Common stock Credit $40,000
What is meant by journal entry?Every transaction for a business is documented in journal entries. Any financial activity that has an effect on the firm is considered a transaction. They encompass any exchange of money-value, such as interest payments, depreciation, costs, or payroll, and are not just restricted to the buying and selling of products and services.
An entry in your journal serves as a record of a transaction in your company's books. For every transaction, at least two journal entries must be made in double-entry bookkeeping. A bookkeeper records all of the changes that a transaction can bring about in a firm because they can be rather numerous.
The correct journal to record this transaction is -
Cash Debit $40,000
Common stock Credit $40,000
Cash and common stock will both increase in value as Callie Taylor invests the money received in exchange for common stock. Debit results from a growth in assets, while credit results from an increase in equity.
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