A business model is essentially the way in which a company generates revenue and profits, and it's the foundation upon which a business plan is built. A business plan, on the other hand, is a more detailed document that outlines the overall strategy and operational plans for a company, including its mission, vision, and values, as well as financial projections and marketing strategies.
1. A good business model typically includes factors such as target customers, pricing strategies, revenue streams, cost structure, key partners and resources, and channels of distribution.
2. A business plan typically includes an executive summary, company overview, market analysis, product or service description, marketing and sales plan, operations plan, management and staffing plan, and financial projections.
3. In essence, a business model is the framework for generating revenue, while a business plan is the roadmap for achieving that revenue and building a successful company.
4. Together, they provide a comprehensive guide for entrepreneurs and business owners to follow in order to achieve their goals and succeed in their industry.
5. A business model is a conceptual framework that outlines how a company generates revenue, creates value, and sustains itself in the marketplace.
6. It typically includes the company's value proposition, target customer segments, revenue streams, cost structure, and key partners.
7. The business model is crucial in determining how the company will achieve success and differentiate itself from competitors.
8. On the other hand, a business plan is a formal written document that outlines the company's goals, strategies, and financial projections.
9. It serves as a roadmap for the company's operations, management, and growth.
10. The business plan often includes an executive summary, company description, market analysis, organizational structure, product or service offerings, marketing and sales strategies, financial projections, and potential risks.
In summary, the business model is a high-level conceptual framework that shows how the company creates and captures value, while the business plan is a comprehensive written document that details the company's strategies and projections to achieve success. The business model is an essential component of the business plan, as it provides the foundation for the plan's strategies and goals.
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When the federal reserve loans less funds to banks and other financial institutions, the quantity of reserves in the banking system increases and the money supply decreases. Detailed explanation:
When the Federal Reserve loans less funds to banks and other financial institutions, it reduces the amount of money that is available for lending and investment activities.
As a result, banks and other financial institutions will have fewer reserves on hand to meet the demands of their customers. This means that they will have to reduce their lending and investment activities, which can lead to a decrease in the money supply.
The reduction in lending and investment activities can also have a ripple effect on the broader economy. For example, if businesses are unable to obtain financing, they may have to delay or cancel their investment plans, which can lead to a slowdown in economic growth. Similarly, if consumers are unable to obtain loans to purchase homes or other large ticket items, this can also have a negative impact on the economy.
Overall, the Federal Reserve's decision to loan less funds to banks and other financial institutions can impact the money supply and have broader effects on the economy.
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Despite laws to prevent it, many companies have acted illegally by using corrupt practices to:
Despite laws in place to prevent it, some companies have acted illegally by engaging in corrupt practices to gain an unfair advantage in the marketplace.
Examples of these practices include bribery, kickbacks, and insider trading. These activities are harmful to both the companies involved and to the broader economy, as they distort the free market and undermine public trust in business. To combat this behavior, governments have established regulatory bodies to investigate and prosecute companies that engage in corrupt practices. Additionally, many companies have established internal compliance programs to ensure that all employees understand the importance of following ethical business practices. Overall, it is essential that companies act responsibly and ethically to maintain public trust and contribute to a healthy, thriving business environment.
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The most common practice is a variation of the: a. residual theory of dividendsb. constant dividend payout ratio c. stable dividend policy d. low dividend plus extra policy
The most common practice for dividend payout among companies is a variation of the "stable dividend policy," which involves paying out a consistent dividend amount or percentage of earnings to shareholders on a regular basis, typically quarterly or annually. This policy is often favored by companies because it provides shareholders with a predictable income stream and helps to maintain the company's reputation and stability.
On July 6 Theo Corp. returned $12,000 of undamaged inventory it had originally purchased on account. Assuming Theo Corp. had not paid for the goods yet, the journal entry recorded by Theo Corp. on July 6 would beA.the debit to Inventory and a credit to Sales Returns and Allowances.B.a debit to Sales Returns and Allowances and a credit to Inventory.C.a debit to Inventory and a credit to Cost of Goods Sold.D.a debit to Accounts Payable and a credit to Inventory.
When Theo Corp. returns $12,000 of undamaged inventory that was originally purchased on the account and not yet paid for, the journal entry recorded on July 6 would be A debit to Accounts Payable and a credit to Inventory. The correct answer is D.
Since Theo Corp. had originally purchased the inventory on account, they had not yet paid for it. Returning the undamaged inventory means that they no longer owe the amount to their supplier, so they need to decrease their Accounts Payable balance by debiting it. At the same time, they are increasing their Inventory balance by crediting it for the returned items.
Thus, option D is correct: a debit to Accounts Payable and a credit to Inventory.
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How do credit card companies contribute to the development of a market economy? (1 point) They allow people to buy goods and services immediately. They aid households in making money through interest payments.
Credit card companies can contribute to the development of a market economy by providing access to credit for individuals and businesses that may not otherwise have access to traditional financing options.
Credit card companies contribute to the development of a market economy primarily by facilitating consumer spending and enabling businesses to accept electronic payments. By offering credit to consumers, credit card companies allow people to buy goods and services immediately, which can stimulate economic growth by increasing demand for goods and services. This can lead to job creation and increased economic activity.
Credit card companies also provide a convenient means for businesses to accept payments from customers, which can help businesses increase sales and profits. In addition, credit card companies often offer rewards programs and other incentives that can encourage consumers to use their credit cards more frequently, further stimulating economic activity.
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newsom footwear corporation's flexible budget cost formula for supplies, a variable cost, is $2.61 per unit of output. the company's flexible budget performance report for last month showed a $6,840 unfavorable spending variance for supplies. during that month, 17,100 units were produced. budgeted activity for the month had been 16,700 units. the actual cost per unit for indirect materials must have been closest to:
Carl works as a gaffer for a large film production company. He oversees the lighting on the film set. What might be one task that Carl performs as part of his job?
Question 1 options:
applying makeup on the actors
ordering food for the catering table
monitoring electrical current requirements on set
performing for the camera
Answer:
monitoring electrical current requirements on set
Explanation:
Wyatt Materials is equivalent to other firms in its industry in all ways but one: Wyatt has much lower fixed costs than its peers. Accordingly, an analyst should expect Wyatt to have Multiple Choice a lower beta than its industry the same beto as the industry but a lower beta thon the other firms in the industry a higher beta thon its industry O o O a higher beta than the industry and all the firms within that industry the same bets as the industry but a higher beta thon the other firms in the industry
An analyst should expect Wyatt to have a lower beta than its industry.
What is lower beta?
A stock's beta measures its volatility compared to the overall stock market. A stock with a beta that is less than 1 is considered a lower beta stock than the market.
Wyatt Materials' lower fixed costs suggest that it has a lower level of risk compared to its peers in the industry, leading to a lower beta. Beta measures an asset's sensitivity to market movements, and in this case, Wyatt's lower fixed costs may result in less volatility in its earnings and stock price.
Therefore, an analyst should expect Wyatt to have a lower beta than its industry.
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You work as a part-time accounting clerk for a small motor repair shop. On your first day, the owner takes time to explain how the "books" have been maintained in the past. He informs you that he journalizes on a daily basis, posts to the ledger on a weekly basis and prepares a trial balance and financial statements once a year. What advice would you offer the owner of this business?
By following this advice, the owner can improve their business's accounting practices, leading to more accurate financial reporting and better decision-making.
I would offer the following advice to the owner:
1. Increase the frequency of preparing a trial balance: Instead of preparing a trial balance once a year, it would be more beneficial to prepare it on a monthly or quarterly basis. This will help to identify any discrepancies or errors in a timely manner, allowing for adjustments to be made promptly.
2. Prepare financial statements more frequently: Similarly, preparing financial statements once a year may not provide the owner with the most accurate and up-to-date picture of the business's financial health. By preparing financial statements on a quarterly or monthly basis, the owner can better monitor the company's performance and make more informed decisions.
3. Implement a computerized accounting system: If the business is still using manual bookkeeping methods, it may be beneficial to transition to a computerized accounting system. This will not only save time and reduce errors but will also allow for easier and more frequent preparation of financial reports.
4. Consider hiring a professional accountant or bookkeeper: If the owner finds it challenging to manage the accounting tasks along with running the business, they may want to consider hiring a professional accountant or bookkeeper to ensure that their financial records are accurately maintained.
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Entrepreneurs take risks with their time and money to start a business. They are also able to build their own wealth if they:
Entrepreneurs take risks with their time and money to start a business. They are also able to build their own wealth if they are successful in their venture.
Starting a business involves taking a significant amount of risks with both time and money. Entrepreneurs often invest a large portion of their savings or borrow money to fund their business. They also spend countless hours planning, researching, and working on their business. However, if their business is successful, they have the potential to build their own wealth.
Entrepreneurs are able to build their own wealth through various means. Firstly, they have the ability to earn profits from their business. By providing products or services that customers are willing to pay for, entrepreneurs can generate revenue and profits. These profits can be reinvested into the business or used for personal gain.
Secondly, entrepreneurs can create valuable assets through their business. For example, a successful entrepreneur may own a valuable brand, patent, or proprietary technology. These assets can be sold or licensed to other companies for a profit.
Finally, successful entrepreneurs can create passive income streams. This could be through rental income from property they own, royalties from intellectual property, or dividends from investments.
Overall, while starting a business involves taking risks, successful entrepreneurs have the potential to build their own wealth through various means such as earning profits, creating valuable assets, and generating passive income.
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all of the following statements correctly describe a contemporary approach to create the work breakdown structure (wbs) for a project except:
The statement that correctly does not describe a contemporary approach to create the Work Breakdown Structure (WBS) for a project is option c - "Project teams may rely upon the project manager to create all levels of the WBS".
In a contemporary approach, the project team collaborates to create the WBS, and it is not solely the responsibility of the project manager.
The other options are correct - project teams may jump start the WBS construction with a brainstorming session, use a template or a WBS from a previous project as a starting point, and adopt a top-down approach to construct the WBS.
A contemporary approach involves the project team working together to break down the project into smaller, manageable components to ensure project success. The WBS serves as a framework for project planning and execution, and it is a vital tool for effective project management.
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Complete Question:
All of the following statements correctly describe a contemporary approach to create the Work Breakdown Structure (WBS) for a project EXCEPT: a. Project teams may jump start the WBSc ruction with a brainstorming session. b. Project teams may use a template or a Wes from a previous project as a starting point. c. Project teams may rely upon the project manager to create all levels of the WBS. d. Project teams may adopt a top-down approach to construct the WBS.
In contrast to convenience products, __________ products are goods or services for which customers will spend time and effort to gather information on price, attributes, and quality.
staple
unsought
emergency
shopping
In contrast to convenience products, "shopping" products are goods or services for which customers will spend time and effort to gather information on price, attributes, and quality.
Shopping products are typically more expensive and considered to be of higher value than convenience products. Customers are willing to spend more time and effort researching and evaluating their options before making a purchase decision.
Examples of shopping products include clothing, electronics, furniture, and automobiles. Customers will typically compare different brands and models, evaluate features and benefits, and consider factors such as price, quality, and style before making a purchase decision. In contrast, convenience products are those goods or services that customers will typically purchase frequently, with little or no planning, and with minimal effort. Examples of convenience products include snacks, soft drinks, and other low-cost items that are readily available and easy to purchase.
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Bento Inc. produces two products: Bento 350 and Benzo 230. The machines available can onlywork on one product at a time. The two products are produced in two departments using differentgrades of labour. The labour requirements for the two products are as follows:Minutes per unitBento 350 Benzo 230Department 1 24 32Department 2 40 30Labour hours is considered the limiting factor and the maximum times available each day inDepartments 1 and 2 are 960 minutes and 1,680 minutes, respectively. The current unit sellingprices and costs for the two products are shown below:Bento 350 Benzo 230Selling price $100.00 $130.00Direct materials $20.00 $ 30.00Direct labour $20.80 $12.40Variable overheads $12.80 $18.40Fixed overheads $25.60 $36.80Profit per unit $20.80 $32.40As part of the budget-setting process, Bento Inc. needs to ascertain the optimum output levels. Alloutput is sold.Required(a) Calculate the maximum number of each product that could be produced each day (in eachdepartment), and identify the limiting factor/bottleneck (the department). (2 marks)(b) Using traditional contribution analysis, calculate the number of units to be produced in theDepartment with the bottleneck and the contribution at this level of output. (8 marks)(c) Using a throughput approach, calculate the 'throughput-maximizing' output each day, and the'throughput contribution' at this level of output. (6 marks)
(a) The maximum number of Bento 350 that can be produced each day is 20 units in Department 1 and 16 units in Department 2.
(b) Using traditional contribution analysis, the number of units to be produced in the Department with the bottleneck (Department 1) is 20 units of Bento 350 and 15 units of Benzo 230.
(c) Using a throughput approach, the 'throughput-maximizing' output each day is 20 units of Bento 350 and 56 units of Benzo 230 in Department 2. The 'throughput contribution' at this level of output is $2,240.
(a) Calculation of the maximum number of each product that could be produced each day:
Department 1:
Maximum available time = 960 minutes
Labour required per unit of Bento 350 = 24 minutes
Labour required per unit of Benzo 230 = 32 minutes
Maximum number of units of Bento 350 = 960/24 = 40 units
Maximum number of units of Benzo 230 = 960/32 = 30 units
Department 2:
Maximum available time = 1680 minutes
Labour required per unit of Bento 350 = 40 minutes
Labour required per unit of Benzo 230 = 30 minutes
Maximum number of units of Bento 350 = 1680/40 = 42 units
Maximum number of units of Benzo 230 = 1680/30 = 56 units
The limiting factor/bottleneck is Department 1, as it has the lower maximum number of units for both products.
(b) Calculation of the number of units to be produced in the Department with the bottleneck and the contribution at this level of output using traditional contribution analysis:
Department 1:
Maximum number of units of Bento 350 = 40 units
Maximum number of units of Benzo 230 = 30 units
Contribution per unit of Bento 350 = $100.00 - $20.00 - $20.80 - $12.80 - $25.60 = $20.80
Contribution per unit of Benzo 230 = $130.00 - $30.00 - $12.40 - $18.40 - $36.80 = $32.40
Contribution from Bento 350 = 40 units x $20.80 = $832.00
Contribution from Benzo 230 = 30 units x $32.40 = $972.00
Total contribution = $1,804.00
(c) Calculation of the 'throughput-maximizing' output each day and the 'throughput contribution' at this level of output:
The throughput approach focuses on maximizing the contribution per unit of time, rather than the contribution per unit.
Department 1:
Maximum number of units of Bento 350 = 40 units
Maximum number of units of Benzo 230 = 30 units
Contribution per minute of Bento 350 = $20.80/24 = $0.87
Contribution per minute of Benzo 230 = $32.40/32 = $1.01
Department 2:
Maximum number of units of Bento 350 = 42 units
Maximum number of units of Benzo 230 = 56 units
Contribution per minute of Bento 350 = $20.80/40 = $0.52
Contribution per minute of Benzo 230 = $32.40/30 = $1.08
To maximize the throughput contribution, Bento Inc. should produce as many units of Benzo 230 as possible, as it has the higher contribution per minute in both departments.
Department 1:
Maximum number of units of Benzo 230 = 30 units
Time required = 30 x 32 = 960 minutes
Department 2:
Maximum number of units of Benzo 230 = 56 units
Time required = 56 x 30 = 1680 minutes
Throughput-maximizing output each day:
Units of Bento 350 = 0
Units of Benzo 230 = 30 + 56 = 86 units
Throughput contribution:
Contribution per minute of Benzo 230 = $1.01 in Department 1 and $1.08
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Which of the following budgeting can meet the needs that the organization must revise their budget a lot?
Bottom-up budgeting
Zero-based budgeting
Top-down budgeting
Conventional budgeting
The budgeting method that can meet the needs of an organization that must frequently revise their budget is Bottom-up budgeting.
In this method, the budget is created from the bottom-up, meaning that each department or team within the organization submits their budget proposals to the top management.
The top management then reviews these proposals and makes necessary adjustments before finalizing the budget.
This approach ensures that all departments are involved in the budgeting process and have a say in how the budget is allocated. Additionally,
since the budget is based on the actual needs of the departments, it is more likely to be accurate and realistic. On the other hand, Top-down budgeting,
Conventional budgeting, and Zero-based budgeting are all top-down approaches that are less flexible and may not allow for frequent revisions. In Conventional budgeting,
the budget is based on the previous year's budget, with adjustments made for inflation or other factors. In Top-down budgeting, the top management creates the budget and then assigns funds to the departments.
In Zero-based budgeting, the budget starts from scratch, with no consideration given to previous budgets, but this method can be time-consuming and may not be suitable for frequent revisions.
Therefore, Bottom-up budgeting is the best budgeting method for organizations that need to revise their budgets frequently.
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A bond currently has a price of $1,050. The yield on the bond is 7%. If the yield increases 26 basis points, the price of the bond will go down to $1,031. The duration of this bond is ____ years. a. 6.49 b. 7.47 c. 7.60 d. 6.96
The duration of this bond price is approximately 6.96 years, which corresponds to option (d) in your list of choices.
To calculate the duration of the bond, we need to use the formula for modified duration:
Modified Duration = (Price Change / Initial Price) / Yield Change
First, let's find the price change and the yield change:
Price Change = New Price - Initial Price = $1,031 - $1,050 = -$19
Yield Change = Increase in Yield = 0.26% = 0.0026
Now, we can plug the values into the formula:
Modified Duration = (-$19 / $1,050) / 0.0026
Modified Duration ≈ -0.0181 / 0.0026 ≈ -6.96
The duration of this bond is approximately 6.96 years, which corresponds to option (d) in your list of choices.
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________ are those who are responsible for managing large accounts and are skilled in developing complex solutions to a particular customer problem. Select one:
a. Telemarketers
b. Technical sellers
c. Key account salespeople
d. Missionary salespeople
e. Trade servicers
These individuals are responsible for managing and nurturing relationships with large accounts and developing customized solutions to address specific customer needs.
They possess a deep understanding of the customer's business and are skilled in creating complex proposals that align with the customer's goals and objectives. Key account salespeople also play a critical role in identifying new opportunities for growth within their accounts and in building long-term partnerships with their customers. Overall, their expertise and focus on delivering tailored solutions make them a valuable asset to any sales organization.
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16. _____ are based on overall company profitability. Using an established formula, management distributes some portion of company profits to all employees.
A. Gain-sharing plans
B. ROI programs
C. Profit-sharing plans
D. Profit empowerment programs
C. Profit-sharing plans are based on overall company profitability. Using an established formula, management distributes some portion of company profits to all employees.
The answer to your question is C. Profit-sharing plans. These plans are based on overall company profitability and involve management distributing a portion of the company's profits to all employees using an established formula.
Company profitability refers to a company's ability to generate profits or earnings from its operations over a certain period of time. Profitability is an important measure of a company's financial health, as it indicates its ability to generate revenue that can be used to pay off debts, reinvest in the business, or distribute to shareholders.
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saida made contributions to a traditional ira over the course of 35 working years. her contributions averaged $1,800 annually. saida was in the 32% tax bracket during her working years. the average annual rate of return on the account was 4.5%. upon retirement, saida stopped working and making ira contributions. instead, she started living on withdrawals from the retirement account. at this point, saida dropped into the 20% tax bracket. factoring in taxes, what is the effective value of saida's traditional ira at retirement? assume annual compounding.
The effective value of Saida's traditional IRA at retirement, factoring in taxes, is $173,931.01.
Assuming that Saida made contributions of $1,800 annually over 35 years, her total contributions would be $63,000. However, since she was in the 32% tax bracket during her working years, she was able to deduct the contributions from her taxable income, reducing her tax liability by $20,160 (0.32 x $63,000).Assuming an average annual rate of return of 4.5%, compounded annually, the value of Saida's traditional IRA at retirement would be:
$63,000 x (1 + 0.045)^35 = $217,413.76
However, when Saida starts making withdrawals during retirement, she will owe taxes on the amount withdrawn. Since she dropped into the 20% tax bracket, we can assume that she will owe a 20% tax rate on her withdrawals.To calculate the effective value of Saida's traditional IRA at retirement, we can use the following formula:
Effective value = (Value of IRA at retirement) x (1 - Tax rate on withdrawals)
Effective value = $217,413.76 x (1 - 0.20) = $173,931.01
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28. Net cash flow is equal to:
A. income after taxes minus amortization.
B. income after taxes minus dividends.
C. cash receipts minus cash payments.
D. cash receipts minus cash payments minus amortization.
C. cash receipts minus cash payments. Net cash flow is a measure of the cash inflows and outflows of a business or investment during a given period of time.
It represents the difference between the cash received and the cash paid out during that period.
Net cash flow is calculated by subtracting the total cash payments made during the period from the total cash receipts received during the same period. This measure provides insight into the amount of cash a business or investment generates or consumes during a given period, which can be useful for assessing its financial health and ability to meet its financial obligations.
The other options listed are not accurate definitions of net cash flow:
A. Income after taxes minus amortization is net income, which is not the same as net cash flow.
B. Income after taxes minus dividends is also net income and not the same as net cash flow.
D. Cash receipts minus cash payments minus amortization is net cash provided by operating activities in the statement of cash flows, which is a more specific measure of cash flow that only includes cash flows related to operating activities.
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Which area of a streak plate will contain the greatest amount of growth? The lease amount of growth? Explain your answers
A streak plate is a method used to isolate individual bacterial colonies from a mixed culture. The plate is divided into four quadrants, and the bacteria are streaked across the surface of the plate.
The initial streak is heavily inoculated, and subsequent streaks are made by dragging the bacteria from the previous streak into the next quadrant. The area of a streak plate that will contain the greatest amount of growth is the initial streak. This is because the bacteria are most heavily inoculated in this area, providing them with the greatest amount of nutrients and space to grow. As a result, the bacteria will multiply rapidly in this area, producing a large and dense colony. Conversely, the area of the streak plate that will contain the least amount of growth is the final streak. This is because the bacteria that are dragged into this area have been significantly diluted by the previous streaks, reducing the number of viable cells present. Additionally, the bacteria in this area may also compete with each other for limited nutrients and space, further limiting their growth. In summary, the initial streak of a streak plate will contain the greatest amount of growth, while the final streak will contain the least amount of growth.
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Corporation uses a standard cost system in which it applies manufacturing overhead (MOH) on the basis of direct labor- hours (DLH). The company's standards call for 2 DLHs for each unit produced. For the most recent period:BudgetActualUnits Produced9,0008,500DLH18,00017,200Variable MOH$108,000$108,500Fixed MOH$27,000$28,000The variable overhead rate variance for the period was closest to:The variable overhead efficiency variance for the period was closest to:The fixed overhead volume variance for the period was closest to:
According to the information above, the variable overhead efficiency variance standard costing the actual hours worked were less than the standard hours worked were greater than the standard hours permitted for the period's real output or production.
The difference between hours worked at the standard rate and hours authorised at the standard rate is known as the variable overhead efficiency variance.The term "standard hours allowed" refers to the number of real working hours.
Permitted for a certain time. Budgeted fixed manufacturing overhead cost less actual total fixed manufacturing overhead cost equals fixed manufacturing overhead budget variance.
Variance for the fixed manufacturing overhead budget is $71,500 - $70,560. Budget Variance for Fixed Manufacturing Overhead = $940 F Therefore, the period's fixed manufacturing overhead budget variance is closest to $940F. Half of the labour efficiency variance and the variable overhead efficiency variance were unfavourable in the previous period. When workers need more time to produce the goods than the allotted number of production hours, the variable efficiency variance is said to be unfavourable. Similar to this, it would be advantageous when workers put in less time than usual to produce goods.
Complete question:
Corporation uses a standard cost system in which it applies manufacturing overhead (MOH) on the basis of direct labor- hours (DLH). The company's standards call for 2 DLHs for each unit produced. For the most recent period:BudgetActualUnits Produced9,0008,500DLH18,00017,200Variable MOH$108,000$108,500Fixed MOH$27,000$28,000The variable overhead rate variance for the period was closest to:The variable overhead efficiency variance for the period was closest to:The fixed overhead volume variance for the period was closest to?
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One of the most controversial aspects of the ADA is the provision that requires employers to make reasonable accommodations for people with ________.
A) psychiatric disabilities
B) physical disabilities
C) learning disabilities
D) medical disabilities
E) speech and language disabilities
B) physical disabilities is the correct answer. One of the most controversial aspects of the Americans with Disabilities Act (ADA) is the provision that requires employers to make reasonable accommodations.
This provision has been the subject of much debate and litigation, with some arguing that it places an undue burden on employers and others arguing that it is necessary to ensure equal opportunities for individuals with disabilities.
Under the ADA, employers are required to make reasonable accommodations for individuals with disabilities, unless doing so would cause an undue hardship on the employer. Reasonable accommodations may include modifications to the work environment, job duties, or work schedule, as well as the provision of assistive devices or other supports.
It's important to note that the ADA defines disability broadly, to include not only physical disabilities, but also mental and emotional disabilities, learning disabilities, and other impairments that substantially limit one or more major life activities.
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Rexbilt Company uses the allowance method of handling credit losses. It estimates losses at 3% of credit sales, which were $500,000 this year. At December him of this year, the Accounts Receivable balance is $80,000, and the Allowance for Doubtful Accounts has a 900 credit balance before adjustment. Required: a. (3 pts)Provide the adjusting entry to record bad debts expense for this year in the space below. b. (3 pts)Prepare the A/R section of 12/31's Balance Sheet. You will be graded on content and format. c. (4 pts) Assume that Rexbilt Company uses aged accounts receivable as a basis of estimating credit losses, instead of a percent of credit sales. If the firm estimates that $7,600 of the accounts will prove uncollectible, prepare the adjusting entry. 7
The preparation of the Accounts Receivable section of the Balance Sheet involves subtracting the Allowance for Doubtful Accounts from the Accounts Receivable balance to get the Net Accounts Receivable amount, and the section is presented in a specific format.
a. To record the bad debts expense for this year, we need to estimate the credit losses at 3% of credit sales. Credit sales were $500,000, so the estimated credit losses are:
$500,000 * 0.03 = $15,000
The adjusting entry is:
Debit: Bad Debts Expense - $15,000
Credit: Allowance for Doubtful Accounts - $15,000
b. To prepare the Accounts Receivable section of the 12/31 Balance Sheet:
Accounts Receivable - $80,000
Less: Allowance for Doubtful Accounts - ($900 + $15,000) = ($15,900)
Net Accounts Receivable - $64,100
The A/R section will look like this:
Accounts Receivable $80,000
Less: Allowance for
Doubtful Accounts ($15,900)
Net Accounts Receivable $64,100
c. If Rexbilt Company estimates that $7,600 of the accounts will prove uncollectible using the aged accounts receivable method, the adjusting entry would be:
Debit: Bad Debts Expense - ($7,600 - $900) = $6,700
Credit: Allowance for Doubtful Accounts - $6,700
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Projections are that although service jobs are growing now, the economy is continuing to evolve to one based on the information-based global revolution. The best strategy for college graduates is to:
The best strategy for college graduates is to focus on developing skills in fields related to the information-based global revolution. This may include technology, data analysis, digital marketing, and other related areas. It is also important to stay up-to-date with the latest developments in these fields and to continue learning and adapting to new technologies and trends.
Additionally, networking and building connections with professionals in these industries can be highly beneficial in securing job opportunities and staying informed about career prospects. Overall, prioritizing skills and knowledge relevant to the evolving economy can help college graduates thrive in the job market and succeed in their careers.
1. Develop a strong foundation in information technology and related fields, as these skills will be crucial in the information-based global economy.
2. Cultivate a global perspective and understanding of different cultures, as businesses and interactions will increasingly take place across borders.
3. Focus on building strong communication and interpersonal skills, as these will remain important in service jobs and in the information-based economy.
4. Continuously learn and adapt to new technologies and industry trends, to stay competitive in the job market.
5. Consider gaining experience in both service jobs and information-based fields, to be more versatile and better prepared for the evolving economy.
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jocelyn gets a text alert from the bank that her account balance has dropped below $100 after a series of $20 atm withdrawals. she has not used her atm in over a week and wonders what she should do. what would you recommend? * 1 point wait until her monthly statement arrives so she can check to see if those withdrawals are still there
If Jocelyn gets a text alert from the bank that her account balance has dropped below $100 after a series of $20 atm withdrawals and she has not used her atm in over a week she should contact your bank immediately as it appears that your account may have been compromised. Therefore, the correct option is B.
Since Jocelyn hasn't used her ATM in over a week, the series of $20 withdrawals are suspicious and could indicate unauthorized access to her account. It is important to act quickly in cases of suspicious activity regarding the account balance to prevent any further unauthorized transactions. It's important to address this issue promptly to prevent further loss and to resolve any potential security breach.
Waiting for a monthly statement (option C) or relying on the bank to catch mistakes (option D) could result in more unauthorized transactions and complications. Checking her wallet (option A) is not sufficient, as having her debit card doesn't rule out the possibility of account hacking. It is always better to be safe than sorry and contacting your bank will allow them to investigate and take appropriate action to protect your account.
Hence, it is recommended to contact your bank immediately as it appears that your account may have been compromised which corresponds to option B.
Note: The question is incomplete. The complete question probably is: Jocelyn gets a text alert from the bank that her account balance has dropped below $100 after a series of $20 atm withdrawals. She has not used her atm in over a week and wonders what she should do. What would you recommend? A) Check your wallet to be sure you debit card has not been stolen. If you still have it, then you should not worry. B) Contact your bank immediately as it appears that your account may have been compromised. C) Wait until your monthly statement arrives so you can check to see if those withdrawals are still there. D) Wait a week as it is fairly common for the bank to catch mistakes like this.
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firm x competes in a monopolistically competitive market, where it chooses the level of output that maximizes profit. suppose a new firm enters the market, causing x's perceived demand curve to shift. the following tables show x's original and new demand curves and x's cost information. the shift in demand causes x to change its profit maximizing level of output. if x can only choose from the quantities of output given in the table, how much will x's quantity of output change? original demand curve price quantity tc 30 0 $130 25 10 $140 20 20 $260 15 30 $450 10 40 $660 new demand curve price quantity tc 25 0 $130 20 10 $140 15 20 $260 10 30 $450 5 40 $660 question 5 options: x's profit-maximizing quantity of output will rise by 10 units x's profit-maximizing quantity of output will fall by 5 units x's profit-maximizing quantity of output will fall by 10 units x's profit-maximizing quantity of output will rise by 5 units
Based on the table provided, the new demand curve has lower prices for each quantity of output compared to the original demand curve.
This means that the new firm entering the market has increased competition, causing a shift in X's perceived demand curve. As a result, X will have to decrease its price and output to remain competitive and maximize profit.
Looking at the table, X's profit-maximizing quantity of output was 20 units at a price of $20 under the original demand curve. However, under the new demand curve, X's profit-maximizing quantity of output will be 10 units at a price of $15. This means that X's profit-maximizing quantity of output will fall by 10 units.
Therefore, the answer to the question is: x's profit-maximizing quantity of output will fall by 10 units.
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Mikail Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $892,000 in October, $950,000 in November, $1,045,000 in December, and $934,000 in January. Mikail's sales are 25% cash and 75% credit. The company's collection history indicates that credit sales are collected as follows: 20% in the month of the sale
70% in the month after the sale 8% two months after the sale 2% are never collected 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales.
2. Prepare a cash collection budget for December and January. Round all answers up to the nearest dollar. Requirement 1. Prepare a sales budget for all four months, showing the breakdown between cash and credit sales. Mikail Reeds Sales Budget
For the Four Months Ended January October November December January Cash sales Credit sales Total sales
To calculate the cash collection for December and January, apply the given collection percentages to the respective months' credit sales. Then, sum the amounts to obtain the total collections for each month. Round up to the nearest dollar if needed.
Mikail Reeds Sales Budget
For the Four Months Ended January
| Month | Cash Sales | Credit Sales | Total Sales |
|------------|------------|--------------|-------------|
| October | $223,000 | $669,000 | $892,000 |
| November | $237,500 | $712,500 | $950,000 |
| December | $261,250 | $783,750 | $1,045,000 |
| January | $233,500 | $700,500 | $934,000 |
To calculate the cash and credit sales for each month, multiply the total sales by the respective percentages (25% for cash and 75% for credit).
Requirement 2. Prepare a cash collection budget for December and January.
Mikail Reeds Cash Collection Budget
For December and January
| Month | Month of Sale (20%) | Month after Sale (70%) | Two Months after Sale (8%) | Uncollectible (2%) | Total Collections |
|------------|---------------------|------------------------|---------------------------|-------------------|-------------------|
| December | $156,750 | $498,750 | $53,520 | -$15,675 | $693,345 |
| January | $140,100 | $548,250 | $56,960 | -$14,020 | $731,290 |
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115. In selecting a particular training technique no one technique is always best, for there are always trade-offs between desired content, cost, and personal capabilities. True False
the best alternative of the situation is True. In selecting a particular training technique, no one technique is always the best option because there are trade-offs between desired content, cost, and personal capabilities.
Each training technique has its advantages and disadvantages depending on the specific situation and needs. Desired content refers to the material that needs to be taught, while cost relates to the financial resources required for the training. Personal capabilities refer to the abilities and limitations of both the trainer and trainees.
For example, classroom-based training may be effective for teaching a large group of people, but it can be expensive and may not accommodate individual learning styles. On the other hand, online training can be more cost-effective and flexible, but may not provide the same level of interaction and engagement as classroom-based training. Similarly, hands-on training may be ideal for teaching practical skills, but may not be feasible for large groups or individuals with certain limitations. In order to select the most appropriate training technique, it is essential to weigh these factors and choose the one that best aligns with the desired content, available resources, and personal capabilities of the trainer and trainees.
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pizza bliss, a pizza delivery chain, assures delivery of pizza within half an hour of the placement of order. it employs various methods like specialization of work, motion study, and analysis of routes to make sure that an order reaches a customer in half an hour. which of the following management techniques is pizza bliss most likely using
Pizza Bliss is using several management techniques to ensure efficient delivery of pizza within half an hour of order placement. Some of these techniques include:
1. Specialization of work: The pizza chain likely has employees who specialize in specific tasks such as preparing the pizza, packaging it, and delivering it.
2. Motion study: This involves analyzing the various movements involved in delivering a pizza, such as how the pizza is placed in the box, how the box is sealed, and how the pizza is handed off to the delivery person
3. Analysis of routes: Pizza Bliss likely uses mapping software to determine the most efficient routes for their delivery drivers to take.
4. Continuous improvement: Pizza Bliss is likely constantly analyzing and refining their processes to ensure that they are delivering pizzas as efficiently as possible.
Overall, Pizza Bliss is using a combination of techniques to ensure that they are able to deliver pizzas within half an hour of order placement.
By focusing on efficiency and continuous improvement, they are able to maintain their reputation for fast, reliable service.
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mr. ford, tired of selling oatmeal for years, is currently thinking of entering the cornflakes market in michigan with a new brand called helloggs. mr. ford has estimated brand awareness to be approximately 90%, because the brand will enjoy high local tv and point-of-purchase promotion budgets. for manufacturing and marketing helloggs, mr. ford would have to spend $10 million towards fixed costs. just one supermarket chain, which alone sells 35% of total cornflakes sold in the target market, will carry the brand. according to mr. ford, this brand, to be priced at $0.75 for a half-lb. pack, will sell enough to carry his company out of the red. a marketing research agency appointed by mr. ford has contacted a sample of households to get `intention to buy' information for helloggs. the agency reports that, given 100% awareness and availability, the percentage of respondent households who have given different ratings for `intention to buy' on a 10-point scale (ranging from 0
Based on these calculations, launching Helloggs could be financially feasible for Mr. Ford if the estimated market size and market share are accurate.
Based on the information provided, Mr. Ford is considering entering the cornflakes market in Michigan with a new brand called Helloggs. He estimates that the brand awareness will be approximately 90% due to high local TV and point-of-purchase promotion budgets.
He plans to spend $10 million towards fixed costs for manufacturing and marketing Helloggs. The brand will be priced at $0.75 for a half-lb. pack and will be carried by one supermarket chain that sells 35% of total cornflakes sold in the target market.
Mr. Ford's marketing research agency has collected "intention to buy" information for Helloggs from a sample of households.
Given 100% awareness and availability, the percentage of respondent households who have given different ratings for "intention to buy" on a 10-point scale (ranging from 0 to 10) is as follows:
0-2: 10%
3-4: 20%
5-6: 30%
7-8: 25%
9-10: 15%
To determine whether Mr. Ford's plan to launch Helloggs is financially feasible, we can use the following calculations:
Market size: Since one supermarket chain alone sells 35% of total cornflakes sold in the target market, we can estimate the market size to be approximately 3 times the supermarket chain's sales. Let's assume that the supermarket chain's sales of cornflakes are $100 million. Therefore, the estimated market size for cornflakes in Michigan is $300 million.
Market share: If Helloggs captures 10% of the market share, it would generate $30 million in sales ($300 million market size x 10% market share).
Cost of goods sold: Assuming a 50% markup, the cost of goods sold for Helloggs would be $0.375 per half-lb. pack. Therefore, the total cost of goods sold for Helloggs would be $11.25 million ($0.375 cost per pack x 30 million packs sold).
Gross profit: The gross profit for Helloggs would be $18.75 million ($30 million sales - $11.25 million cost of goods sold).
Fixed costs: Mr. Ford plans to spend $10 million towards fixed costs for manufacturing and marketing Helloggs.
Net profit: The net profit for Helloggs would be $8.75 million ($18.75 million gross profit - $10 million fixed costs).
Based on these calculations, launching Helloggs could be financially feasible for Mr. Ford if the estimated market size and market share are accurate.
However, it is important to note that the marketing research agency's data on "intention to buy" is just one factor to consider, and other factors such as competition, production costs, and distribution channels should also be taken into account before making a final decision.
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