The cost of goods sold for Madison outlet using the FIFO inventory method is $2,600.
What is the cost of goods sold?
FIFO is an abbreviation for first in, first out. FIFO is an inventory method that postulates that the first inventory to be bought is the first to be sold. This means that when a unit of inventory is sold, it is assumed that it is sold from the inventory purchased at the earliest. The ending inventory is made up of inventory that was purchased latest.
Other inventory methods are last in, first out (LIFO) and the average inventory method.
Using the FIFO inventory method, the 12 sales to customers would be taken from the beginning inventory and the inventory purchased on March 14.
Cost of goods sold = $2000 + (2 x $300)
$2000 + $600 = $2,600
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Select all the steps needed to create a maintenance schedule.
The steps that are needed to create a maintenance schedule includes:
Take an inventory of the equipment.Review the manufacturers' manuals.List maintenance tasks.Establish frequency of tasks.Identify individuals to perform the maintenance.Develop a reminder system.Obtain test equipment if necessaryDocument or log maintenance that has been performed.What is a maintenance schedule?Basically, a maintenance schedule is also known as a planned maintenance. It means any maintenance activity that is planned, documented and scheduled for with the aim of reducing a downtime by having all necessary resources on hand such as labour, parts, strategy to using the resource etc.
Missing options " Identify individuals to perform the maintenance. Document or log maintenance that has been performed. Take an inventory of the equipment. Obtain test equipment if necessary. Define maintenance tasks. Review the manufacturers' manuals. Establish frequency of tasks. Run the defragmentation utility. Develop a reminder system."
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stephanie agrees to sell her sailboat to walter and to deliver in two weeks. walter then learns that stephanie is looking for another buyer who will pay a higher price. walter turns to the court to stop stephanie from selling her sailboat to any other party. in this case, walter is seeking .
stephanie agrees to sell her sailboat to walter and to deliver in two weeks. walter then learns that stephanie is looking for another buyer who will pay a higher price. walter turns to the court to stop stephanie from selling her sailboat to any other party. in this case, walter is seeking for injunctive relief.
An injunction is known as a remedy which is granted by the court that prohibits the commission of a wrong threatened and the continuance of any wrongful course of action which has already begun.
If any party fails to comply with an injunction granted by the court, then the party could have to face criminal and civil penalties or it can be contempt of court.
The law of injunctions is covered completely under various Relief Acts and is also implemented in accordance with the Civil Procedure Code. On the precise note, the laws which are pertaining to this provision are including Section 151 and Section 94 of the Code.
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Is Technology one of the affecting factors in demand.
Explanation:
Effect of Technology on Demand:
Changes in technology can affect the demand for different products or the demand for related products. It can increase the market for a product by increasing the demand for a new product and making an older product obsolete.
judy's boutique just paid an annual dividend of $3.13 on its common stock. the firm increases its dividend by 3.80 percent annually. what is the company's cost of equity if the current stock price is $41.56 per share? multiple choice 10.70% 11.62% 12.02% 11.33% 11.02%
The company's cost of equity is equal to 11.62% if the current stock price is $41.56 per share.
To determine the company's cost of equity, we can use the Gordon model as follows;
stock price = dividend×(1 + growth rate) / cost of equity - growth rate
Now substituting the values;
41.56 = 3.13×(1 + 0.038) / cost of equity - 0.038
41.56 = 3.13×1.038 / cost of equity - 0.038
41.56 = 3.249 / cost of equity - 0.038
41.56 (cost of equity - 0.038) = 3.249
41.56(cost of equity) - 1.58 = 3.249
41.56(cost of equity) = 3.249 + 1.58
41.56(cost of equity) = 4.829
cost of equity = 4.829 / 41.56 = 0.1162
Converting into percentage;
cost of equity = 0.1162 × 100 = 11.62%
Hence the company's cost of equity is calculated to be 11.62%.
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is an approach to managing information across an entire organization. group of answer choices master data data governance big data master data management
Data management is an approach to managing information across an entire organization. Your ability to handle your data for many use cases is made possible by using a data management platform. For instance, a data management platform might gather consumer information from various sources, evaluate it.
Arrange it so that it can be divided into groups according to the customers' past purchases. Platforms for data management may be located on-site. In order to make judgments and conduct activities that will benefit the business as much as possible, data management information to assist individuals, organisations, and linked things in optimising the use of data within the constraints of policy and regulation.
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in all agency relationships, the authorizes the to provide services or accomplish some task on behalf of the principal and under the principal’s charge.
In all agency relationships, the agent authorizes the to provide services or accomplish some task on behalf of the principal and under the principal’s charge.
In a principal-agent relationship, one entity formally designates another to act on its behalf. When there is a principle-agent connection, the agent represents the principal and shouldn't have any competing interests when performing the act. The law of agency defines rules for a connection known as agency, which is the relationship between the principle and the agent.
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how much oil does the us produce per day
Answer:
about 18.662 million barrels per day
Explanation:
american major appliance manufacturers have recently adopted a strategy that calls for better quality in their products. one method of implementing this strategy at the operations level is through .
Given that American major appliance manufacturers have recently adopted a strategy that calls for better quality in their products. One method of implementing this strategy at the operations level is through "quality circles" (Option D)
What is a quality circle?A quality circle, also known as a quality control circle, is a group of workers that perform the same or comparable tasks and meet on a regular basis to discover, evaluate, and solve work-related problems. It has a minimum of three and a maximum of twelve members.
The main goals of a quality circle are:
i) to efficiently develop, enhance, and utilize the organization's people resources;
(ii) to increase product/service quality, productivity, and lower production costs per unit of output, and
(iii) to fulfill the employees' psychological well-being.
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Full Question:
American major appliance manufacturers have recently adopted a strategy that calls for better quality in their products. One method of implementing this strategy at the operations level is through
a. innovation circles.
b. a Gantt chart.
c. PERT.
d. quality circles.
e. another layer of resourceful managers.
what is the biggest problem with using ranking as a performance measure?multiple choicemost people don’t understand how to do it.it is always very time consuming.it raises questions about fairness due to low validity.it involves customer evaluations, which can be expensive.it tends to be too objective to impact behaviors.
The biggest problem with using ranking as a performance measure is that it raises questions about fairness due to low validity. Option B
This is further explained below.
What is ranking as a performance measure?Generally, Rating systems evaluate an employee's performance in relation to a predetermined benchmark.
The rating is completed by specifying desired goals, abilities, or characteristics besides a scale, which may be 1–5, a 'poor to exceptional' sort of scale.
Input, output, efficiency, quality, and the result are the five particular kinds of metrics that have been discovered, defined, and will be implemented throughout the whole of the Iowa state government.
In conclusion, The most significant issue with using rankings as a method for evaluating performance is that it gives rise to concerns about equity as a result of its poor validity.
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3) reflecting on the case and videos, what are the opportunities and challenges facing cineplanet? what is cineplanet’s motivation for redesigning the experience at its theaters?
Cineplanet is a movie-film-based entertainment company that provides specialization in the mechanism of cinema and film exhibitions.
Cineplanet was facing a lot of challenges and problems recently that majorly including rising customer satisfaction and consumers asking for something new and innovative that results in something else than their previous experiences.
The cine-planet's motivation to redesign the customer experience is based on some goals.
Providing new and better services to middle-income group people.To persuade different strategies to keep Cineplanet one step ahead of its competitors.To look through the inward exploratory strategies as compared to outward strategies.For more questions like Cineplanet visit the link below:
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when firms price-discriminate, people with price elasticity of demand will pay prices relative to those purchasing the same product who have a price elasticity of demand.
When firms price-discriminate, people with lower price elasticity of demand will pay higher prices relative to those purchasing the same product who have a higher price elasticity of demand.
Price elasticity of demand is a concept which measures the change in market demand that is taking place due to change in price of the commodity. It simply measures whether demand of the products change at same rate as their prices change or not.
As we know when the market prices of commodities changes, their demand fall sharply but the fall in demand is not same in every case, for some goods the demand fall exactly in same percentage as price go up, but in some cases, demand may fall less than the rate of increase in price or in some cases it may also fall more. Price elasticity of demand give us exact measure of the change in market demand due to change in price.
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on march 12, fret company sold merchandise in the amount of $7,800 to babson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,500. fret uses the perpetual inventory system and the gross method of accounting for sales. on march 15, babson returns some of the merchandise. the selling price of the merchandise is $600, and the cost of the merchandise returned is $350. babson pays the invoice on march 20 and takes the appropriate discount. the journal entry that fret makes on march 20 is:
As the buyer paid the amount within the discount period. so the total amount paid by the buyer is, Discount = $ 156.
What is amount?
Amount or quantity is a property that really can occur as a multitude as well as magnitude, demonstrating discontinuity and continuity. Quantities can be compared by using the terms "more," "less," or "equal," or by assigning a numerical multiple of a measurement unit. Quantitative properties include mass, time, distance, heat, and angle, to name a few. Quantity, along with reliability, substance, start changing, and relation, is one of the fundamental classes of things. Some quantities have an inner nature (as numbers), whereas others function as states (properties, measurements, attributes) of things like heavy and light, long and brief, broad and narrow, small and excellent, or much and little.
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Jordana is buying a laptop computer to take on trips. Although she has looked at several brands, she refuses to buy a computer that weighs more than five pounds. Jordana is basing her decision on.
Since, Jordana is refusing to buy a computer that weighs more than five pounds, she is basing her decision on a Non compensatory decision rule.
When solid performance solely on a single judgmental criterion somehow doesn't offset or compensate for poor performance on some other evaluative set of criteria of the brand, set of rules are considered to be non-compensatory decision rule. Consumers can utilize a variety of non-compensatory decision rules.
Whenever the consumers create lowest acceptable performance requirements that each brand should meet, this approach is used. Any brand will be deemed appropriate if it adheres to or exceeds the basic requirement on any criterion. The decision rules shall then be that of selecting the brand that outshines the remainder by the highest margin on the chosen criterion.
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according to the affect valuation theory, factors shape how a person ideally wants to feel, while factors shape how a person actually feels.
Cultural factors shape how a person ideally wants to feel, while temperamental factors shape how a person actually feels according to the affect valuation theory.
Temperament theory can be described as a four organizing patterns of personality and is based in descriptions of behavior that go back over twenty-five centuries. Temperament theory tell us the “why” of behavior, our motivators, and sources of deep psychological stress.
Cultural factors can be described as a set of values and ideologies of a particular community or group of individuals. Cultural factor is the culture of an individual which decides the way he/she behaves or in simpler words, culture is nothing but values of an individual.
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as part of a healthy lifestyle, alex likes to do yoga. unfortunately, he works for a firm that has fallen on hard times. as a result, alex sees his salary cut by 12%. assuming that yoga is a normal good, shift alex's demand curve for yoga to illustrate the effects of the salary cut.
Assuming that yoga is a normal good, shift alex's demand curve for yoga to illustrate the effects of the salary cut : Demand curve shall shift left side denoting lesser quantity of Yoga on same price.
What is demand curve?Demand curve can be defined as the curve that help to show the price of a product as well as the amount that was demanded at a specific period of time.
When demand curve move or shift to left hand side this tend to means that there is a decrease in the demand of a product or goods and services.
Therefore we can conclude that Demand curve will tend to shift to left side which in turn denote lesser quantity of Yoga on same price.
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larry has saved $30 per week to buy a new blu-ray player. he compares two different models: a panaview that is priced at $130 and a zony model that is priced at $140. larry decides to purchase the zony blu-ray player for $140. identify what role money plays in each of the following parts of the story. hint: select each role only once. role of money medium of exchange unit of account store of value larry saved $30 per week. larry pays $140 for the blu-ray player. larry can easily determine that the panaview model has a lower price than the zony model.
The panaview model has a lower price than the zony model can be determined as:
1. Unit of account
2. Store of value
3. Medium of exchange
What is a unit of account cost?The standard amount of money used by accountants, economists, and investors to quantify value is known as a unit of account. A unit of account offers a standard point of comparison for communicating value across various items.
Anything that is fungible, countable, and divisible can be employed as a unit of account. A common example of an account unit is money. Aside from currency, other units of account include gold and other precious metals.
A medium of exchange is a device or system that acts as a middleman in transactions involving the exchange of goods between parties. A system must represent a standard of value in order to serve as a medium of exchange. All parties must concur to that norm as well.
1. Unit of account
2. Store of value
3. Medium of exchange
The complete question is:
larry has saved $30 per week to buy a new Blu-Ray player. He compares two different models: a Panaview that is priced at $130 and a Zony model that is priced at $140. larry decides to purchase the Zony Blu-Ray player for $140.Identify what role money plays in each of the following parts of the story.1. larry can easily determine that the Panaview model has a lower price than the Zony model.2. larry saved $30 per week.3. larry pays $140 the Blu-Ray player. Options: Medium of exchange, Unit of account, Store of Value.
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ocieties choose what share of their resources to devote to consumption and what share to devote to investment. some of these decisions involve private spending; others involve government spending. for each form of private spending, indicate whether it represents consumption or investment.
Indicate whether each type of private spending is intended for consumption or investment.
People buying washing machines= ConsumptionFirms buying automobiles for delivery services= InvestmentPeople buying automobiles= ConsumptionFirms buying machines= InvestmentWhy do people consume?Utilizing resources to fulfill present needs and desires is referred to as consumption. In contrast, investing is making purchases in order to generate future income. A key concept in economics, consumption is also explored in many other social sciences.
What does investing mean?An investment is a purchase made with the hope of generating income or capital growth. Appreciation is the term used to describe how an asset's value grows over time. A person invests in a good with the intention of using it to build wealth in the future rather than for current consumption.
What is the name of the first investment?The cash needed to start a new business is known as startup capital. Startup finance may come from the firm owner, come from crowdfunding, or come from a variety of other sources of investment. A business can expand and generate money if it has initial capital.
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I understand that the question you are looking for:
Societies choose what share of their resources to devote to consumption and what share to devote to investment. Some of these decisions involve private spending; others involve government spending.
For each form of private spending, indicate whether it represents consumption or investment.
People buying washing machines.
Firms buying automobiles for delivery services.
People buying automobiles.
Firms buying machines.
an investor purchases a newly issued convertible bond at par. the bond is convertible at $25. three years later, the underlying common stock is tradin
A new convertible bond is bought by an investor for par. The bond can be converted for $25. The underlying common stock is trading now, three years later. A $320 long-term capital gain has been realized.
Briefing:-There are various steps in this question. The conversion ratio in shares must be determined first. The share conversion rate of a bond convertible at $25 per share is 40 shares ($1,000 x $25). The parity price is calculated in the subsequent step. What are those 40 shares worth, in other words? 40 shares multiplied by the share price of $33 results in $1,320. That $1,320 is collected when the bondholder sells the bonds at par. A long-term capital gain is the $320 profit over the initial expense of $1,000.Examining the stock's growth is an approach that may be simpler for certain people. It costs $8 more per share than the $25 conversion fee. That is an increase of 32 percent (8 x 25). This brings us back to the $1,320 price since if the bond and stock prices are equal, the bond's price must be 32% higher.
How is the investment value of a convertible bond determined?Investors can utilize the following formula to value convertible bonds: Bond value calculated by adding the independent values of the straight bond and the conversion option.
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klm corporation's quick assets are $6,010,000, its current assets are $12,660,000 and its current liabilities are $8,076,000. its acid-test ratio equals:
Its acid-test ratio equals 0.74
What is acid test ratio ?The acid-test ratio contrasts a company's current obligations with its "quick assets" (cash and accounts receivable). One of the six fundamental computations used to assess a company's short-term liquidity—or its capacity to pay its payments as they become due—is this one.
The term "acid-test ratio" refers to the practise of historically testing metals for gold using acid. A metal was considered to be real gold if acid was put to it and it did not corrode. But if the metal didn't pass the test, it was regarded as worthless.If a company's acid-test ratio is 2, it means that its liquid assets are worth twice as much as its current liabilities. Liquid assets would be $200,000 if current obligations were $100,000 and the acid-test ratio was 2.Learn more about Acid test ratio here:
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Draw a demand and supply graph for each of the following questions. For each question, start by drawing a correctly labeled graph of the market for cookies in equilibrium. Your starting graphs should each have correctly labeled axes and demand and supply curves. Label the equilibrium price and quantity as p1 and p2 on the axes of each of the starting graphs.
Show the effect on the equilibrium price and quantity in the market for cookies if the price of milk increases. Determine which curve is affected by the change in the price of milk and whether it increases or decreases. On your graph, draw a new curve indicating the shift—either to the right or the left. Label the new equilibrium price and quantity as p2 and q2.
Show the effect on the equilibrium price and quantity in the market for cookies if the price of flour decreases. Determine which curve is affected by the change in the price of flour and whether it increases or decreases. On your graph, draw a new curve indicating the shift—either to the right or the left. Label the new equilibrium price and quantity as p2 and q2.
The demand and supply graphs for each of the following scenarios described are attached accordingly. See related conceptual definitions below.
What are the concepts related to the graphs?Milk is used in the preparation of cookies. When the price of milk rises, so will the cost of producing cookies. The supply curve swings to the left and narrows. The equilibrium price rises from p1 to p2, while the quantity falls from q1 to q2.
Flour is used in the preparation of cookies. When the price of flour falls, so will the cost of producing cookies. The supply curve moves to the right and rises. The equilibrium price falls from p1 to p2, while the quantity rises from q1 to q2.
The above interactions are reactions to the Laws of Demand and Supply:
The law of supply and demand combines two basic underlying ideas that describe how price changes impact the supply and demand for a resource, commodity, or product. As the price ups, supply follows it while demand nosedives. In contrast, when prices fall, supply tightens while demand expands.
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if the number of employed is 220,000, the labor force is 250,000, the number of discouraged workers is 15,000, and the number of underemployed is 15,000, then the unemployment rate is: a)13.6 percent. b) 6.0 percent. c) 12.0 percent. d) 88.0 percent.
The unemployment rate is 12.0 percent.
Who are discouraged workers?A discouraged worker is someone who can work and is qualified for employment but is not already working and has not looked for work in the past four weeks. Typically, discouraged job seekers have given up looking for jobs because they were unable to find suitable employment opportunities or were unsuccessful in their job applications.
Who are underemployed workers?The total number of persons in an economy who are involuntarily working in low-skill and low-paying occupations or only part-time because they are unable to find full-time positions that utilize their skills is known as underemployment.
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A recent change in indian law allows some foreign retailers to operate in india without partnering with an indian company. This represents a lowering of ________ to international trade.
If Indian law allows some foreign retailers to operate in India without partnering with an Indian company, then this represents a lowering of economic barriers to international trade.
In the field of business, a barrier can be described as a particular hurdle that stops a business to work in a market due to policies of the government or law.
An economic barrier stops foreign companies to operate individually in a foreign market. Many countries allow foreign businesses to work in the country if they partner with the local ones so that the economy of the country can also benefit from it.
In the case above, India is allowing some foreign retailers to work without partnering so that the international trade of the country can be increased. By doing so it is lowering the economic barrier.
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irms are the last to hire in times of economic recovery. c. small firms eliminate jobs at a faster rate. d. small businesses do not create enough jobs to influence the economy.\
Small businesses create more jobs and destroy more jobs than large businesses.
The economy and workforce would be a pretty wild landscape to imagine without small businesses. Small businesses not only create more jobs, but they also create careers and opportunities. In comparison to their share of employment, 'small' businesses account for a disproportionately large share of job creation and destruction. Jobs created by small businesses are no less likely to last than jobs created by large businesses. While small businesses create the most total jobs, their high failure rate prevents them from being the largest net producers.
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mckeel publishing had outstanding checks totaling $5,450 on its june bank reconciliation. in july, mckeel issued checks totaling $39,400. the july bank statement shows that $27,050 in checks cleared the bank in july. the amount of outstanding checks on mckeel's july bank reconciliation should be:
The amount of the outstanding check on McKee July bank reconciliation should be $17,760
The critical accounting process known as bank reconciliation involves organizations comparing their bank statements with the transactions documented in their general ledger. Companies can prevent any bookkeeping or transactional issues by creating a bank reconciliation statement.
Account reconciliations can be done for either personal or professional purposes and take many different forms. Bank reconciliation, vendor reconciliation, business-specific reconciliation, intercompany reconciliation, and customer reconciliation are the five main categories of account reconciliation.
The amount of outstanding checks on McKee July Bank Reconciliation
Outstanding checks in June Bank Reconciliation $5,460.00
Add: Checks issued during July $39,500.00
Less: Checks cleared in July $27,200.00
Amount of outstanding checks on McKee July Bank Reconciliation $17,760.00.
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According to the video case harnessing the power of data, what term does ibm use to describe the process by which data is used to understand patterns, gain insights and understand what is going on in your business?.
Data mining is the phrase used by IBM to describe the process of using data to discover patterns, get insights, and comprehend what is going on in your organization.
Data mining, also known as knowledge discovery in data (KDD), is the practise of mining massive data sets for patterns and other relevant information.
Because of the advancement of data warehousing technologies and the rise of big data, the use of data mining techniques has accelerated during the last several decades, supporting businesses in translating raw data into valuable knowledge.
Through smart data analytics, data mining has enhanced corporate decision-making. The data mining techniques that enable these studies serve two purposes: they may either describe the target dataset or forecast outcomes using machine learning algorithms.
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If i pay off my entire credit card bill before this date, i do not have to pay interest on the money i have borrowed on my credit card. What is this called?.
If i pay off my entire credit card bill before this date, i do not have to pay interest on the money i have borrowed on my credit card. It is called Credit card interest-free period or grace period
The time between the conclusion of a billing cycle and the day on which your payment is due is known as a grace period.
If you settle your debt in full by the due date, you could not be assessed interest during this time. Companies that accept credit cards are not compelled to offer a grace period. The majority of credit cards do, however, offer a grace period for purchases. You can escape paying interest on future purchases if you settle your balance in full by the due date if your card has a grace period and you are not bearing a balance. You will be charged fees on the percentage of the debt that is not paid by the due date if you forfeit your grace period by not making a full payment by that date.
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1. Which of the following is NOT one of "the four Ps" for a conventional marketing
mix?
A. Place
B. Product
C. Percentage
D. Promotion
Answer:
I think it would be A. Place
a company purchased three identical inventory items for $800, $900, and $1,120 in that order. it then sold 1 of the units for $1,500. assuming the company uses the average-cost method for inventory the gross profit on the sale is $
Based on the fact that the company uses the average-cost method for inventory, the gross profit on the sale of the unit can be found to be $560
How to find the gross profit?The first thing to do is to find the average cost of the identical units of inventory that the company purchased:
= Cost of units purchased
= 800 + 900 + 1,120
= $2,820
Then find the average cost of each unit using the average-cost method:
= Total cost of units / Number of units
= 2,820 / 3
= $940 per unit
The gross profit can then be found by using the formula:
Gross profit = Sales revenue - Cost of goods sold
The cost of the good sold is the average cost of $940.
The gross profit will therefore be:
= Sales revenue - Cost of goods sold
= 1,500 - 940
= $560
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the biggest component of gdp using the expenditure approach is and the biggest component of gdp using the income approach is .
The biggest component of gdp using the expenditure approach is consumer expenditures and the biggest component of gdp using the income approach is wages.
The market worth of all the final goods and services produced and sold (not resold) in a certain time period by countries is measured in dollars using the term "gross domestic product" (GDP). This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is.
To compare living standards between countries, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful, whereas nominal GDP is more useful for comparing national economies on the global market. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries.
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micheal worked 42 hours last week his regular pay is 10$ per. hour he is paid 1 1/2 times his regular pay for overtime hours (in excess of 40 hours) what is his gross pay?
Michael worked 42 hours last week his regular pay is 10$ per. hour he is paid 1 1/2 times his regular pay for overtime hours (in excess of 40 hours) the gross pay $430.
Explanation:-Michael worked a total of 42 hours; the number of hours he worked in excess of 40 hours was 42 - 40 = 2 hours.
Michael put in an additional two hours of labor.
One hour's pay in standard currency is equal to $10.00.
Regular salary for 40 hours of work equals $10.00 * 40 = $400.
lets calculate money paid to him for over time\given
For overtime hours, Michael gets compensated at 1.5 times his regular salary.
1 hour's worth of overtime compensation is equal to 1 1/2 hours' worth of normal salary.
1 hour's worth of overtime pay is 3/2 * $10, or $15.
$15 multiplied by two hours of overtime work equals $30.
Michael's total salary for 42 hours of work is therefore $400 + $30 = $430.
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