Answer: share customer Information across department
Explanation:
The part of the effective three-step process that this company fail to use is "share customer Information across department".
This was explained when it was written that the product development team, has not been receiving the customer complaints or suggested product changes that have been collected.
GRADED PROJECT
Directions: Be sure to make an electronic copy of your answer before submitting
it to Ashworth College for grading. Unless otherwise stated, answer in complete
sentences, and be sure to use correct English spelling and grammar. Sources
must be cited in APA format. Your response should be a minimum of one
(1) single-spaced page to a maximum of two (2) pages in lengthe refer to the
"Assignment Format" page for specific format requirements,
Part A
(30 points)
Prepare general journal entries to record the following transactions for the Harris
Company. (The company uses the balance sheet approach for recording bad
debts expense.)
2010
Dec. 31
Recorded Bad Debts Expense, 5800
2011
Jan.
Wrote off Jal's account as uncollectible, $60
Mar. 4
Wrote off Hall's account as uncollectible, $75
Jul. 5
Recovered $45 from Hall
Aug. 19
Wrote off M. Wilson's account as uncollectible, $100
Nov. 7
Recovered $25 from Jal
1
Select the correct answer.
Which job is an entry-level position?
OA.
auditor
OB. marketing manager
OC.
restaurant manager
OD
room attendant
Reset
Next
Answer:
Option D: Room attendant
Explanation:
Its the only entry level jobs, as listed above b and c are managment positions which means you have to have experience. Auditors are appointed by a company to execute an audit you need to be certified by the regulatory authority of accounting and auditing or process certain specified qualifications.
Differences between management and leadership include leaders are emotionally involved, whereas managers have low emotional involvement managers shape ideas, whereas leaders are reactive in solving problems leaders are controlling, whereas managers are motivating leaders are unidirectional influencers, whereas managers are multidirectional influencers
Answer:
Leaders are emotionally involved, whereas managers have low emotional involvement
Explanation:
Management can be regarded as groups of entities that are in control of an organization so that the goals of the organization can be accomplished. Leadership can be regarded as ability of entities to motivate or influence others to brings contribution for the success of the organization. What differentiate leaders and manager is Influence and inspiration. It should be noted that the Differences between management and leadership is that leaders are emotionally involved, whereas managers have low emotional involvement
Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year:
Direct labor cost $ 574,000
Manufacturing overhead:
Indirect labor cost $ 163,000
Other manufacturing overhead costs incurred $ 584,000
What is the journal entry to record the direct and indirect labor costs incurred during the year?
Multiple Choice
Wages Payable 737,000
Direct Labor 574,000
Manufacturing Overhead 163,000
Direct Labor 574,000
Manufacturing Overhead 163,000
Wages Payable 737,000
Wages Payable 737,000
Work in Process 574,000
Manufacturing Overhead 163,000
Work in Process 574,000
Manufacturing Overhead 163,000
Wages Payable 737,000
Answer:
Dr Work in Process 574,000
Dr Manufacturing Overhead 163,000
Cr Wages Payable 737,000
Explanation:
Preparation of the journal entry to record the direct and indirect labor costs incurred during the year
Based on the information given the appropriate journal entry to record the direct and indirect labor costs incurred during the year will be :
Dr Work in Process 574,000
Dr Manufacturing Overhead 163,000
Cr Wages Payable 737,000
(574,000+163,000)
(Being to record direct and indirect labor costs incurred )
A lively discussion is under way at Sunrise Software, where you are a project manager. The main question is whether the person-days concept has limitations. In other words, if a task will require 100 person-days, does it matter whether two people in 50 days, five people in 20 days, 10 people in 10 days, or some other combination that adds up to 100 performs the work
Answer:
Yes. It does matter. There is another important consideration in project management. This is the concept of project time or project delivery time. Every project has an end date. This implies that no project continues forever. Just as there is a beginning, there is also an ending to every project. This means that the project manager is concerned with whether the project will not exceed its allotted time frame.
Explanation:
Therefore, a project manager will not allow one person to execute a 100 person-days project just because it is feasible. When she considers the project delivery time, she may decide to hire 10 persons to carry out the project, thus reducing the time to 10 days. If a project is allowed to go on for a long time, it opens the opportunity for competitors to go to market first, thereby causing unprecedented losses to be suffered by the company.
Extended warranties
Carnes Electronics sells consumer electronics that carry a 90-day manufacturer’s warranty. At the time of purchase, customers are offered the opportunity to also buy a two-year extended warranty for an additional charge. During the year, Carnes received $412,000 for these extended warranties (approximately evenly throughout the year).
Required:
1.Does this situation represent a loss contingency? Why or why not? How should it be accounted for?
2.Prepare journal entries that summarize sales of the extended warranties (assume all credit sales) and any aspects of the warranty that should be recorded during the year.
Solution :
1. This is not a loss contingency as extended warranty is being priced as well sold separately from warranted products and therefore constitutes the separate sales transaction.
2.
Event General Journal Debit Credit
1 Cash $412,000
Unearned revenue -- extended warranties $412,000
2. Unearned revenue -- extended warranties $ 57937.50
Revenue - Extended Warranties $ 57937.50
Working :
The manufacturer provided 90 days which is 3 months of free warranty. Thus a customer who is purchasing the extended warranty is for 09 months.
Now amount received by Carnes Electronics for the extended warranty in one year = $412,000
So, [tex]$\$ 412,000 \times \frac{9}{12}= \$309000$[/tex] of sales.
The warranty is for two years and so 4.5 months in one year.
Therefore the revenue earned on the extended warranty is :
[tex]$\$309000 \times \frac{4.5 \text{ months}}{24 \text{ months}}$[/tex]
= $ 57937.50
Fickel Company has two manufacturing departments Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $28.00 per direct labor-hour and $24.00 per direct labor-hour, respectively. The company's direct labor wage rate is $30.00 per hour. The following information pertains to Job N-60:
Assembly Testing & Packaging
Direct materials $420 $57
Direct labor $375 $105
Required:
1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.)
2. If Job N-60 consists of 10 units, what is the unit product cost for this job? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answer:
Results are below.
Explanation:
First, we need to allocate overhead to Job N-60:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Direct labor hours:
Assembly= 375/30= 12.5
Testing & Packaging= 105/30= 3.5
Overhead:
Assembly= 12.5*28= $350
Testing & Packaging= 3.5*24= $84
Total= $434
Now, the total manufacturing cost:
Total cost= (420 + 57) + (375 + 105) + 434
Total cost= $1,391
Finally, the unitary cost:
Unitary cost= 1,391/10
Unitary cost= $139.1
PLEASE HELP!! ILL GIVE 10 POINTS AND BRAINLIEST
how can passion help lead to a successful business?
Answer: A person with passion typically exudes confidence, and confidence creates value for themselves and others by leading the way, not showing the way.
Professionals who are confident are great leaders and earn the respect and confidence of others. Passion creates excitement.
If a 30 percent decline in the price of gasoline leads to a 15 percent rise in the quantity of gasoline being bought by consumers, the price elasticity of demand for gasoline in this range must be
Answer: 0.5 making the demand for gas to be inelastic in this range.
Explanation:
The price elasticity of demand is calculated as:
= % change in quantity demanded / % change in price
= 15% / -30%
= -0.5
Based on the above calculation, we can see that the elasticity of demand equals to 0.5. Since, it is less than 1, it is said to be inelastic.
The table contains information on the price per month and the monthly demand and supply of online music streaming subscriptions. Price Quantity demanded (thousands) Quantity supplied (thousands) $ 9.80 250 180 $ 10.00 210 210 $ 10.20 160 280 $ 10.40 80 410 What is the quantity demanded at $ 10.20
Answer:
160
Explanation:
The computation of the quantity demanded at $10.20 is given below;
As seen in the chart, at price of $10.20 there is a quantity demanded of 160
So according to the information given in the question, the quantity demanded at $ 10.20 is 160
For the current year, Harry reported salary and taxable interest income of $50,000. His capital asset transactions during the year were as follows: Long-term capital loss ($5,000) Long-term capital gain $1,000 For the current year, what amount should Harry report as adjusted gross income
Answer:
adjusted gross income = $47,000
Explanation:
ordinary income = $50,000
capital losses = $1,000 - $5,000 = -$4,000
but the IRS limits the amount of capital losses than can offset ordinary income to $3,000 per year. The remaining $1,000 will be carried forward.
AGI = $50,000 - $3,000 = $47,000
What will a contingency note contain?
Answer:
Contingencies are potential liabilities that might result because of a past event
Explanation:
Reasonably possible losses are only described in the notes and remote contingencies can be omitted entirely from financial statements.
Permanent insurance plans include various options available to the policyowner. What whole life insurance policy options protect a policyowner against an unintentional coverage lapse
Answer:
Non-forfeiture option
Explanation:
Insurance is usually taken to guard against uncertainty of an event in the future. For example if a fire breaks out in an office, insurance can be used to regain an agreed portion of the office value from the insurance company.
It is a way of guarding against risk.
Non-forfeiture option is used to prevent unintentional coverage payment lapse.
This is done with the use of automatic premium loan and grace periods in case of default.
There are 3 term securities available with the following series of 1-year interest rates:Security A:5%, 4%, 3%, 3%, 4%Security B:4%, 2%, 3%, 5%, 6%Security C:5%, 3%, 3%, 4%, 5%Assume the expectations theory (without uncertainty) of the term structure is correct:(a)Calculate the term structure interest rates for maturities of 1 to 5 years, for all 3 securities.(b)Draw the yield curves for the 3 term securities of length 1 to 5 years.(c)Which security, if you must choose 1, will you buy if you plan to have it mature in 3 years
Answer:
Hello attached below is a detailed solution to your question
A) attached below
B) attached below
C) Security A
Explanation:
A) calculate the term structure interest rates for maturities of 1 to 5 years for all 3 securities
we will use expectation hypothesis ;
B) Draw the yield curves for the 3 term securities of length 1 to 5 years
- (1+ yield(t))= ( 1 + rate(1) )* ......
C) The security to choose if you plan to have it mature in 3 years is SECURITY A this is because it has maximum yield
If you have a credit card with 15.99% APR that compounds monthly, what is the effective interest
rate?
Answer: 17.22%
Explanation:
Effective interest rate is calculated by the formula:
= (1 + APR / Number of compounding periods) ^ Number of compounding periods - 1
Number of compounding periods = 12 months in the year
= (1 + 0.1599/12)¹² - 1
= 0.172155
= 17.22%
Assume the following information:
Direct materials $ 70,000
Direct labor $ 37,000
Variable manufacturing overhead $ 12,000
Fixed manufacturing overhead $ 25,000
Total manufacturing overhead $ 37,000
Variable selling expense $ 15,000
Fixed selling expense 20,000
Total selling expense $ 35,000
Variable administrative expense $ 8,000
Fixed administrative expense $12,000
Total administrative expense $ 20,000
What is the total product cost?
Answer:
Total product cost= $181,000
Explanation:
The product cost is the sum of the direct material, direct labor, and manufacturing overhead:
Direct materials $ 70,000
Direct labor $ 37,000
Variable manufacturing overhead $ 12,000
Fixed manufacturing overhead $ 25,000
Total manufacturing overhead $ 37,000
Total product cost= $181,000
Adhering to utilitarian ethics in making a business decision is likely to result in an action that is considered morally correct if it produces the greatest good for Group of answer choices the fewest people. the most people. the business decision maker. the business.
Answer:
The most people.
Explanation:
In normative ethics, utilitarian ethics (utilitarianism) can be defined as a theory of morality or ethical theory that typically involves engaging in actions that facilitate pleasure, joy or happiness while completely opposing any action capable of causing harm and unhappiness.
Basically, utilitarian ethics considers an action to be right or morally correct if it produces genuine happiness or joy in the mind of a large number of people in an organization, group or society.
The three (3) main principles (axioms) of utilitarian ethics (utilitarianism) include the following;
I. The only thing with an intrinsic value is pleasure or happiness.
II. If an action promotes happiness or pleasure, then it is right; it is wrong if it causes harm or unhappiness (sadness).
III. The happiness of everyone in a group or society should count equally.
Hence, adhering to utilitarian ethics in making a business decision is likely to result in an action that is considered morally correct if it produces the greatest good for most people.
The following information has been taken from the ledger accounts of Kingbird Corporation. Total income since incorporation $343,000 Total cash dividends paid 57,000 Total value of stock dividends distributed 28,000 Gains on treasury stock transactions 17,000 Unamortized discount on bonds payable 29,000 Determine the current balance of retained earnings.
Answer:
the current balance of retained earnings is $258,000
Explanation:
The computation of the current balance of retained earnings is shown below:
= Total income - cash dividend paid - stock dividend paid
= $343,000 - $57,000 - $28,000
= $258,000
hence, the current balance of retained earnings is $258,000
We simply deduct the two items amount from the total income
Qualcomm has developed a groundbreaking new CPU chip. The patent on the chip will last 17 years. You expect that the chip’s profits to be $4 million in its first year and that this amount will grow at a rate of 5% per year for the next 17 years. Once the patent expires, Intel will be able to produce the same chip and competition will likely drive profits to zero. What is the present value of the new chip if the interest rate is 8% per year?
Answer:
$50.74 million
Explanation:
Interest rate per annum = 8%
Number of years = 17
Number of compounding per annum = 1
Interest rate per period (r) = 8%/1 = 8%
Number of period (n) =17 * 1 = 17
Growth rate (g) = 5%
First payment (P) = 4 ($'million)
PV of the new Chip = p/(r-g) * [1 - [(1+g)/(1+r)]^n]
PV of the new Chip = 4/(8%-5%) * [1 - [(1+5%)/(1+8%)]^17]
PV of the new Chip = 4/0.03 * [1 - [1.05/1.08]^17]
PV of the new Chip = 4/0.03 * [1 - 0.972222^17]
PV of the new Chip = 133.333 * (1 - 0.6194589804)
PV of the new Chip = 133.333 * 0.3805410196
PV of the new Chip = 50.7386757663268
PV of the new Chip = $50.74 million
What are potential problems that could arise out of this approach to e-mail
The approach to in e-mail communication as suggested by Elon Musk might encounter the following potential problems:
Tendency of idle talks during work hour.Sensitive information might be divulged.Messages might be misinterpreted.The e-mail from Elon Musk describes a free flow of communication between employees, their managers and anyone without hindrances created by having to follow a chain of command that may end up wasting time in resolving an issue that might cost a company fortunes.
Thus, Elon Musk is suggesting there should be no barriers in communicating via e-mail among employees and managers as are common where one has to go through the chain of command.
This approach to e-mail in communication is good, however, the following problems could arise:
Tendency of .Sensitive information might be divulged.Messages might be misinterpreted.Learn more here:
https://brainly.com/question/8434290
Can anyone please write a summery of everything that happened in the Great depression?
Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 22,060 hours and the total estimated manufacturing overhead was $560,324. At the end of the year, actual direct labor-hours for the year were 22,000 hours and the actual manufacturing overhead for the year was $560,324. Overhead at the end of the year was: (Do not round intermediate calculations.)
Answer:
$1,524 underapplied
Explanation:
The computation of the overhead for the year is shown below:
Predetermined overhead rate is
= $560,324 ÷ 22,060 hours
= $25.40 per hour
Now Actual overhead applied is
= $25.40 × 22,000 hours
= $558,800
Overhead underapplied = Manufacturing overhead - Actual overhead applied
= $560,324 - $558,800
= $1,524 underapplied
Consider the market for Asparagus. Green beans are a substitute for Asparagus. Asparagus is a normal good. Potassium is typically used as a fertilizer when growing asparagus. If consumer income in this market were to increase, then the market equilibrium price of asparagus would __________ and the market equilibrium quantity of asparagus would __________.
Answer:
increase
increase
Explanation:
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls
If income of Asparagus consumers increases, the demand for the good would increase. This would lead to a rightward shift of the demand curve for Asparagus. As a result, them equilibrium price would increase and equilibrium quantity would increase
If consumer income in this market were to increase, then the market equilibrium price of asparagus would increase and the market equilibrium quantity of asparagus would increase
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls.
In conclusion, the market equilibrium price of asparagus would increase and the market equilibrium quantity of asparagus would increase
Read more on about Price
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Leadership substitutes can increase organizational efficiency. increase competition between leaders. decrease organizational effectiveness. minimize the value of leaders. increase the demands on managers' time.
Answer:
can increase organizational efficiency.
Explanation:
A leader can be defined as an individual who is saddled with the responsibility of controlling, managing and maintaining a group of people under him or her.
Some types of power expressed by leaders are referent power, Coercive, etc.
Furthermore, beyond an individual possessing the traits or qualities of a leader, leadership in itself is a process that revolves around the activities or happenings between the leader and those who he or she is leading, which are the followers. Thus, leadership is simply a continuous process.
Leadership substitutes can increase organizational efficiency because the individual who is working in acting capacity relieves the other by giving him the opportunity to do other things
As part of the calculation for cost of goods sold it is necessary to determine the value of goods on hand, termed merchandise inventory. Accountants use two basic methods for determining the amount of merchandise inventory. Identify the two methods and describe the circumstances (including examples of users of each method) under which each method would be used.
Answer:
The two methods or systems for determining the amount of merchandise inventory are:
the perpetual inventory system and periodic inventory system.
Explanation:
The perpetual inventory system requires that separate accounts be kept for Inventory and Cost of Goods Sold to enable a continuous or perpetual update of inventory transactions. This is unlike the periodic inventory system, where the update of inventory transactions are done periodically, and only the Inventory Purchase account is maintained for inventory transactions, with the Inventory balances and Cost of Goods Sold determined periodically.
It is desired to partition customers into similar groups on the basis of their demographic profile. Which data mining problem is best suited to this task
Answer: Clustering
Explanation:
Data mining simply has to do with getting of usable data which are extracted simply from raw data. The data mining problem that is best suited to this task is clustering.
Clustering simply means when structures are found in data which are usually thesame. Since we want to partition customers into similar groups on the basis of their demographic profile, clustering will be used.
Gear Co has computed its indifference level of EBIT to be $50,000 between an equity financing option and a debt financing option. Interest expense under the debt option is $25,000 and $10,000 under the equity option. The EBIT for the firm is approximately normally distributed with an expected value of $62,000 and a standard deviation of $19,000. What is the probability that the equity financing option will be preferred
Answer:
26.43%
Explanation:
The Z-score is needed to find the probability of having EBIT lower than $50,000.
Z-score = The Indifference point - The Expected EBIT / Standard Deviation
Z-score = $50,000 - $62,000 / $19,000
Z-score = -$12,000 / $19,000
Z-score = -0.63
From the standard normal distribution table, the probability that z-score will be less than -0.63 is 0.2643. So therefore, the probability of the equity financing will be preferred is 0.2643.
In March 2012, Daniela Motor Financing (DMF), offered some securities for sale to the public. Under the terms of the deal, DMF promised to repay the owner of one of these securities $1,000 in March 2037, but investors would receive nothing until then. Investors paid DMF $500 for each of these securities; so they gave up $500 in March 2012, for the promise of a $1,000 payment 25 years later.
a. Assuming that you purchased the bond for $500, what rate of return would you earn if you held the bond for 25 years until it matured with a value $1,000? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate of return _________ %
b. Suppose under the terms of the bond you could redeem the bond in 2022. DMF agreed to pay an annual interest rate of .9 percent until that date. How much would the bond be worth at that time? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Bond value _________ $
c. In 2022, instead of cashing in the bond for its then current value, you decide to hold the bond until it matures in 2037. What annual rate of return will you earn over the last 15 years? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate of return ______ %
Answer:
A. 2.81%
B. $546.87
C.4.11%
Explanation:
A. Calculation for the rate of return
Rate of return= (1000/500)^(1/25)-1
Rate of return=2^(1/25)-1
Rate of return=1.0281-1
Rate of return= 0.0281*100
Rate of return= 2.81%
Therefore the Rate of return will be 2.81%
B. Calculation for How much would the bond be worth at that time
Bond value= (500*(1+0.009)^10)
Bond value= (500*(1.009%)^10)
Bond value=500*1.09373387
Bond value= $546.87
Note that 2012 to 2022 will give us 10 years.
Therefore Bond value will be $546.87
C. Calculation for what annual rate of return will you earn over the last 15 years
Return in last 15 years= (1000/546.87)^(1/15)-1
Return in last 15 years=1.828588^(1/15)-1
Return in last 15 years=1.0411-1
Return in last 15 years=0.0411*100
Return in last 15 years= 4.11%
Note that 2022 to 2037 will give us 15 years
Therefore the rate of return will be 4.11%
Question # 2
Multiple Choice
Why might workers leave sheet piling in place even after construction is finished?
Sheet piling is often made from hazardous substances and is dangerous to handle
O Sheet piling is an integral part of the structure of any building,
Sheet piling is often useful for shallow excavations, which require extra stabilization throughout the building's life cycle.
O Sheet piling may be incorporated into the foundation, especially if soil conditions necessitate it.
Answer: Sheet piling may be incorporated into the foundation, especially if soil conditions necessitate it.
(1 point) When one rents an apartment, one is often required to give the landlord a security deposit that is returned if the apartment is undamaged when you leave. In some localities, the landlord is required to pay the tenant interest once a year compounded yearly. Assume that the landlord is required to pay the tenant interest of 5 % compounded annually. (a) Suppose the landlord invests a security deposit of $ 550 at a rate of 4.3 % compounded continuously. What is his net gain or loss after one year, rounded to the nearest cent
Answer:
Amount of Loss = $3.85
Explanation:
Data Given:
Tenant Interest = 5% compounded Annually
Investment = $550
Rate of Interest = 4.3%
Amount by compound interest after "n" years can be calculated by using the following formula:
A = P[tex](1 + \frac{R}{100}) ^{n}[/tex]
P = Principal Amount
R = rate of interest
n = Time period
Amount to be paid to tenant after one year:
A1 = 550 [tex](1 + \frac{5}{100}) ^{1}[/tex]
A1 = $577.5
a) Amount after investing at 4.3% for one year
A2 = 550 [tex](1 + \frac{4.3}{100}) ^{1}[/tex]
A2 = $573.65
As we can see, A1 is greater than A2 so, there is a clear loss.
Amount of Loss = A1-A2
Amount of Loss = $577.5 - $573.65
Amount of Loss = $3.85