A marketplace is once many corporations exert important management over a given market. Together, these corporations could manage costs by colluding with one another, ultimately providing noncompetitive costs within the market.
Oligopoly markets are markets dominated by a little variety of suppliers. they'll be found in all countries and across a broad variety of sectors. Some marketplace markets are competitive, whereas others are considerably less therefore, or will at a minimum seem that manner.
Oligopolies occur once a small variety of companies conspire, either expressly or implicitly, to limit output or fix costs, so as to attain on top of traditional market returns. Oligopolies will be contrasted with monopolies wherever only 1 firm exists as a producer.
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Youare the owner of a baseball team. Your stadium has a maximum capacity(think of this as in thousands)of 60. The Marginal Costof having one additional fan attend the game is $0if attendance is less than 60 and then infinite for anything above 60. You cantake advantage of variable pricing togenerate extra revenue when teams that are more popular are in town. Suppose that whenthe Kansas City Royals are in town the demand for a ticket to the game is: P=100-Qand the Marginal Revenue is:P=100-2Q andwhen the New York Yankees are in town the demand for a ticket to the game is: P=300-Qand the Marginal Revenue is:P=300-2Q. Draw this graphically and calculate the price and quantity for Royals and Yankees tickets.
The price for a Yankees ticket is $150 and the quantity is 150,000.
The graphs for the demand and marginal revenue are shown below (in thousands of tickets):
Kansas City Royals:
Demand: P = 100 - Q
Marginal Revenue: P = 100 - 2Q
New York Yankees:
Demand: P = 300 - Q
Marginal Revenue: P = 300 - 2Q
The price and quantity for Royals and Yankees tickets can be calculated by finding the intersection of the demand and marginal revenue curves.
For the Kansas City Royals:
P = 100 - Q
100 - 2Q = 100 - Q
2Q = 0
Q = 0
P = 100
Therefore, the price for a Royals ticket is $100 and the quantity is 0.
For the New York Yankees:
P = 300 - Q
300 - 2Q = 300 - Q
2Q = 0
Q = 150
P = 150
Therefore, the price for a Yankees ticket is $150 and the quantity is 150,000.
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coda inc. is an apparel manufacturer. the management at coda prefers moderate control over the operations of the different departments such as r
It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through input controls.
A budget is a series of calculations, often but not necessarily financial, for a predetermined time frame, frequently a year or a month. A budget may contain information on expected sales and revenue levels, resource quantities such as time, costs, and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities, and cash flows.
Budgets are used by businesses, governments, families, and other groups to define strategic plans of operations in quantifiable terms. A budget lists proposed ways to raise the funds needed to cover projected expenditures. A budget might show a surplus of resources for future use or a deficit where spending exceeds income or other available resources.
The above question is incomplete, the complete question is-
Coda Inc. is an apparel manufacturer. The management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales. It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through _____.
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when a shopper recognizes similarities between themselves and a reviewer this tends to increase trust in product reviews, this is referred to as which of the following?
This is referred to as Confirmation Bias.
What do you mean by Confirmation Bias?
Our propensity to selectively choose information that supports our preexisting opinions or ideas is known as confirmation bias. Two persons with different opinions on a subject may encounter the same piece of information and feel justified by it, which is explained by confirmation bias. The psychology term "confirmation bias" describes the propensity of people to exclusively look for evidence that validates their own beliefs. As a result, you become biased in favor of your initial viewpoint since you will only ever find evidence to support your original viewpoint if you only look for it.To know more about Confirmation bias here
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supply chain planning systems perform all of the following functions except: group of answer choices establish inventory levels for raw materials and finished goods. identify the transportation mode to use for product delivery. track the physical status of goods. determine where to store finished goods. determine how much product to manufacture in a given time period.
Supply chain planning systems perform all of the following functions except option c, which track the physical status of goods.
Supply chain planning coordinates the delivery of services, goods, and information from suppliers to customers which balances the demand and supply. It is a network between suppliers and organizations which ensures the manufacture and distribution of products and services to buyers. A supply chain consists of resources, entities, information, and others to function.
It consists of all functions from the creation of a product, raw materials, and manufacture to supply. However, the supply chain planning system does not consist of the function of tracking the physical status of goods which is managed by the transportation section.
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The declining-balance method of depreciation is an accounting method businesses use to deduct most of the cost of new equipment during the first few years of purchase. Unlike other methods; the declining-balance formula does not consider salvage value. For the value of crane;the function V(t) = 475000(1 0.3)t where Vis value and is time in years can be used t0 find the value of the crane for the first 6 years of use What is the value if the crane after years and months? The value of the crane will be State the domain of the function_ 2t State the range of this function_
In an accelerated depreciation scheme known as the declining balance method, bigger depreciation expenses are recorded in the earlier years of an asset's useful life and smaller depreciation expenses are recorded in the asset's later years.
The diminishing balance approach, sometimes referred to as the declining balance method, is the best choice for assets that eventually lose value or become obsolete. This is typically true for high-tech things like computers, cellphones, and other devices of this nature, which are typically useful at first but become less so when newer models are introduced to the market. The eventual phase-out of these assets is taken into account through an accelerated method of depreciation. The straight-line depreciation method, which is better suited for assets whose book value decreases at a constant pace throughout the course of their useful lives, is represented by the decreasing balance approach as its antithesis.
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Samuel was recently hired as a risk management professional for Parker Property Management. He has been asked by senior management to review the organization's current insurance policies to make sure that the organization is adequately protected, and also see if there are any opportunities to save on the premiums. Samuel must do which one of the following through internal communication before he will be able to complete this task?
Select one:
A. Earn the confidence of the organization's board of directors
B. Determine the organization's risk appetite
C. Become familiar with industry regulations
D. Identify all of the risks that the organization faces
Samuel must determine the risk tolerance of the organization through internal communication before he will be able to complete this task. So, option B. is correct.
What is an organization's risk tolerance?Risk tolerance is defined as the level of risk or uncertainty that an organization can tolerate and is a key component of an organization's risk framework. An organization's risk tolerance level is the amount of corporate data and systems that can be exposed to an acceptable level of risk.
How do you determine your risk tolerance?The ability and willingness to tolerate a decline in the value of an investment is known as risk tolerance. When determining your risk tolerance, ask yourself whether you can hold your position when the stock market is falling significantly.
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Kelly lives in Arkansas and works in the data division of Acxiom Corporation. Acxiom has its headquarters in Conway, Arkansas. Acxiom is incorporated in Delaware, however, because of the corporate-friendly laws in that state. Kelly works in a(n):
a) foreign corporation because Acxiom is incorporated in a different state than the division where Kelly works.
b) domestic corporation, because Acxiom’s headquarters is in the same state where Kelly works.
c) close corporation because Kelly works in a division of Acxiom located close to where she lives.
d) alien corporation because Acxiom is incorporated in a different state than the division where Kelly works.
Answer: b) domestic corporation, because Acxiom’s headquarters is in the same state where Kelly works.
A domestic corporation is a corporation that is incorporated in the same state where it operates. Acxiom is incorporated in Delaware, but its headquarters is located in Conway, Arkansas where Kelly works. Therefore, Acxiom is a domestic corporation in Arkansas.
As per Section 2(22A), "domestic company" means an Indian company, or any other company which, in respect of its income liable to tax under this Act, has made the prescribed arrangements for the declaration and payment, within India, of the dividends (including dividends on preference shares) payable out of such.
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elton mayo's researchers concluded that worker motivation improved when managers listened to worker's ideas and suggestions.
Elton mayo's researchers concluded that worker motivation improved when managers listened to worker's ideas and suggestions is true.
How did Mayo view the interaction between employees and management?Elton Mayo came to the conclusion that employees' requirements were frequently based on feeling (belonging to a group and having a sense of value), and that this may cause conflicts with managers, who were primarily concerned with cost-cutting and efficiency.
Therefore, According to Elton Mayo's research, when managers took the time to hear the ideas and opinions of their employees, work or motivation increased. The expectation hypothesis states that when employees are given an extremely difficult task, their motivation nearly always improves.
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Elton mayo's researchers concluded that worker motivation improved when managers listened to worker's ideas and suggestions. true or false
which posters does the occupational safety and health act (osha) require most businesses to display? choose 2 answers.
The posters that the Occupational Safety and Health Act (OSHA) require most businesses to display are:
A. the "Family and Medical Leave Act" poster
B. the "Job Safety and Health Protection" poster.
What does the occupational safety and health act provide?A federal law known as the Occupational Safety and Health Act was adopted by Congress in 1970 to guarantee safe working conditions across the nation. The legislation created OSHA, a federal agency responsible for establishing and enforcing occupational health and safety regulations.
The majority of employers and employees in the private sector, as well as some in the governmental sector, are covered by the Act. Last but not least, the Occupational Safety and Health Act acts as the law's enforcement mechanism, levying fines and penalties against employers that violate its rules, standards, and guidelines.
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marketing is not just advertising and selling. it includes everything that organizations do to satisfy customer needs. this includes all of the following except: question
The concept mentioned is Marketing. The answer is outsourcing manufacturing.
Marketing as an activity includes creating, communicating, delivering, and exchanging offerings that have value for customers. Some marketing is done by cells on behalf of a company. Professionals who work in a pot's marketing and creation departments seek to get the attention of crucial implicit cults through advertising.
It helps businesses to raise brand mindfulness, induce business, increase profit, and make trust in their brand. It contains colorful strategies like dispatch and direct and digital marketing.
It includes the identification of a product, determining demand, deciding on its price, and opting for distribution channels. Outsourcing refers to a business practice of hiring a party outside the company to deliver services and produce products that have earlier been done in-house by its own workers.
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katrine reported to the management team that currently 42% of their total assets were in raw materials and 58% were in finished goods. the finished goods were divided equally between their plants in the united states, honduras, and indonesia. katrine's report is a summary of the company's global
Katrine's report is a summary of the company's global inventory management.
Organizations can use dual valuation and/or dual currency to report inventory statements and sub-ledger accounting values, often known as the inventory balance and cost of goods sold, using global inventory management. Individual ledgers are used for inventory management.
Real-time inventory allocation and availability confirmation are performed. The finest Available-to-promise (ATP) dates and the most effective fulfillment alternatives are provided by Global Inventory Visibility, which makes use of an intelligent sourcing engine that optimizes inventory utilization throughout the extended company.
Managing and remarketing medical equipment, Global Inventory Management collaborates with top partners like hospitals, manufacturers, and financial institutions.
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an excise tax placed on gasoline would: a. decrease the demand for gasoline and not change the supply of gasolineb. increase the demand for gasoline and increase the supply of gasolinec. decrease the demand for gasoline and decrease the supply of gasolined. not change the demand for gasoline and decrease the supply of gasoline.
An excise tax placed on gasoline would not change the demand for gasoline and decrease the supply of gasoline. The Option D is correct.
What is a demand?In economics, demand means quantity of goods that a consumers are willing and able to purchase at various prices during a given time. The demand for a specific product is often the function of its perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes etc. Understanding of demand is very important when making decisions about inventory, pricing and aiming for a particular profit
What is a supply?In economics, supply refers to the amount of a resource that firms, producers, or other economic agents are willing and able to provide to the marketplace. It can be in produced goods, labour time, raw materials, or valuable object.
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studies by the world bank and others have underscored the successes of countries that have adopted group of answer choices import substitution. export promotion. trade liberalization policies. brain drain. trade restrictions. previousnext
Studies conducted by the world bank and other organisations have highlighted the achievements of nations that have implemented trade liberalisation policies. Hence, Option C is correct.
Trade liberalisation is the process of removing or reducing restrictions or obstacles to the free flow of products between states. These obstacles include both tariffs, such as levies and surcharges, and nontariff barriers, such as licencing requirements and quotas.
The relaxation or removal of these barriers is sometimes seen by economists as a step toward promoting free trade. Trade liberalisation is a contentious issue.
Because of the influx of less expensive items into the local market, critics of trade liberalisation assert that the strategy could lose employment.
The goods may be of lower quality and poorer safety, according to critics, than comparable domestic products that may have undergone more thorough safety and quality inspections.
Therefore, Option C is correct.
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which of the following types of contracts is often used when the buyer wants work to begin as soon as possible, but a final agreement has not yet been reached
There are no options given; however, it is most likely that the letter contract is the most often used when the buyer wants the work to start right away but a final agreement has not yet been reached.
What is a letter contract?Letter contracts, often referred to as UCAs (undefinitized contract actions), are a way to allow a contractor to start providing goods or rendering services right away without waiting for the agreement's terms and conditions to be finalized.
One uses a letter contract when:
To enable immediate work to start, the criterion is that the supplier be provided with a legally enforceable commitment.It is difficult to negotiate a final contract in time to meet the criterion.Other contract arrangements are not suitable.Learn more about business agreement here: brainly.com/question/15193799
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Preferred stockholders usually have preference over common stockholders with respect to which items? (Select all that apply.)
(_) issuance of additional debt
(_) issuance of additional shares
(_) distribution of assets in liquidation
(_) dividends
When it comes to dividends, preferred investors often have a leg up on regular stockholders. Thus, the correct answer is dividends.
How does the dividend system work?A dividend is a revenue payment made by a corporation to its shareholders. When a business makes a profit or has a surplus, it can distribute a portion of its profits to shareholders in the form of a dividend. Any monies that are not dispersed are reinvested in the company. Earnings for the current year, as well as retained profits from prior years, are available for distribution; a company is usually forbidden from paying a dividend out of its capital. If the corporation has a dividend reinvestment plan, the amount might be distributed to shareholders in cash, new shares, or current shares repurchased. In some situations, assets may be distributed.
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marshalls corporation completed a $690,000, 6 percent bond issue on january 1, 2021. the bonds pay interest each december 31 and mature 10 years from january 1, 2021. required: for each of the three independent cases that follow, provide the amounts to be reported on the january 1 2021financial statements immediately after the bonds were issued: (Deductions should be indicated by a minus sign.)
Amount : For Case A = $690,000
For Case B = $662,400
For Case C = $717,600
As per the data given in the question,
Bond value = $690,000
Rate = 6%
Numbers of year for maturity = 10
As per the formula,
Amount = Bond value × Deviation%
= 690,000 × 4%
= $27,600
So, Case A : $690,000 + 0 = $690,000
Case B : $690,000 - $27,600 = $662,400
Case C : $690,000 + $27,600 = $717,600
Case A (issued at 100) Case B (at 95) Case C (at 105)
Bonds Payable $690,000 $690,000 $690,000
Unamortized premium
or Discount 0 $27,600 $27,600
Carrying value $690,000 $662,400 $717,600
What format should be used to declare bond premium on the financial statements?Bonds Payable will always be accompanied on the balance sheet by the liabilities account Premium on Bonds Payable. To put it another way, if the bonds represent a long-term debt, then Bonds Payable and Premium on Bonds Payable will both be listed as such on the balance sheet.
How is the premium for bonds payable recorded?If there was a premium on bonds payable, the entry would be a credit to interest expenditure and a debit to premium on bonds payable, which would reduce the issuer's overall interest expense.
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Demand in industrial markets is different from that in consumer markets. All of the following are factors that differentiate the industrial market from the consumer market EXCEPT:
1. stages in economic development affect demand for industrial products.
2. demand is more volatile in the industrial market.
3. stages in industrial development affect demand for industrial products.
4. the level of technology of products and services makes their sale more appropriate in some countries than others.
5. industrial products are always more expensive than consumer products
The level of technology of products and services makes their sale more appropriate in some countries than others is not a factor that differentiate the industrial market from the consumer market.
In an industrial market, businesses trade goods or services with other businesses rather than with a consumer base. This sector, also referred to as the business-to-business market, includes three different subsets: companies that sell goods, companies that sell raw materials, and companies that provide services.
Agriculture; mining; manufacturing; construction and transportation; communication and public utilities; banking, finance, and insurance; and services make up the majority of the industries that make up the industrial market (business market).
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Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 1,700 units were 95% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710.
The number of equivalent units of production for the period for materials if the first-in, first-out method is used to cost inventories was:
a. 16,700
b. 12,000
c. 1,700
d. 13,700
The number of equivalent units of production for the period for materials if the first-in, first-out method is used to cost inventories was 13,700.
Equivalent units represent the amount of work done on a specific number of physical items. To easily calculate equivalent units, multiply the number of physical items by their work percentage. For two items that are 50% complete, there are equivalent units (2 x 50% = 1).
Cost per equivalent unit is defined as the sum of the cost added during this period plus the starting cost of work in process divided by the equivalent unit. Equivalent units are the theoretical number of units a firm could produce with a given amount of materials, labor, and manufacturing overhead.
Equivalent sets are sets that contain the same number of elements, but the elements themselves may differ. For example, set A {5, 10, 15, 20} corresponds to set B {w, x, y, z}. Each set contains 4 items.
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you have the following information for wildhorse co.. wildhorse co. uses the periodic method of accounting for its inventory transactions. assume that wildhorse co. uses the specific odentification cost flow method.
Wildhorse Co. uses the specific identification FIFO cost flow method.
FIFO, or "First-In, First-Out," is an acronym. This technique is used for the calculation of the cost of goods sold under the assumption of cost flow. The FIFO approach presupposes that a company's inventory has been sold in the order of oldest to newest items. In the computation, the prices paid for the oldest items are the ones that are taken into account.
More accurate outcomes are more probable with FIFO. This is because it is simpler to calculate stock profit, which makes it simple to update your financial statements and save time and money. Additionally, it prevents the re-counting of old stock and prevents it from being kept for too long before it becomes useless.
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Which of the following investments would be protected by the FDIC? A) Money Market Accounts B) Stocks C) Bonds D) Mutual Funds
Money Market Accounts are the investments that would be protected by the FDIC. (Option A)
What is meant by a money market account?In addition to a debit card and check writing privileges, a money market account is often a sort of savings account. High-yield savings accounts typically offer better rates than money market accounts, but they may also have higher minimum balance requirements.
Are money market accounts covered by the FDIC?There are just a few deposit instruments that are covered by FDIC deposit insurance, including checking and savings accounts, money market deposit accounts (MMDAs), and certificates of deposit (CDs).
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Answer: C money market accounts
Explanation: edge 2023
the letter might change be carefulwhen the chili restaurant chain was in financial trouble, its ceo delegated the managers of each of the chain's restaurant to trim costs without sacrificing customer satisfaction. in other words, the individual restaurant managers were: made accountable given hierarchical authority given job security given task leniency made pseudo-authority figures
in other words, the individual restaurant managers were: made accountable.
In terms of ethics and governance, accountability is synonymous with answerability, blameworthiness, liability, and the requirement of accounting. It has been at the center of conversations about issues in the public sector, nonprofit, private (business), and individual contexts, just as it is in a governance-related aspect. Accountability in leadership positions refers to the acceptance and assumption of responsibility for actions, outcomes, decisions, and policies, as well as the administration, governance, and implementation of those actions within the parameters of the position or role and the duty to disclose, defend, and account for any consequences.
Accountability in governance now goes beyond the simple meaning of "being held accountable for one's conduct."
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exchange rates group of answer choices are always fixed between the currencies of two countries. fluctuate to equate the quantity of foreign exchange demanded with the quantity supplied. fluctuate to equate imports and exports. fluctuate to equate interest rates in various countries. fluctuate according to agreements between the governments of various countries.
Change so that the amount of foreign currency needed and the amount provided are equal.
Are exchange rates for currencies movable or fixed?
Is the exchange rate for the US dollar fixed or floating? Like the majority of major currencies worldwide, the US dollar is a floating currency. In the global currency markets, the demand for the dollar floats the dollar's value. The United States dollar was once a fixed currency that was pegged to gold's value.
What is a rate of exchange?
change in value. the value of one nation's currency in comparison to that of another nation; allows for trade; affects the price of money but not the supply of money.
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Real property taxes tend to have significantly lower compliance cost per dollar of revenue raised than do individual income taxes because
a. local governments administer property taxes.
b. real property taxes are taxpayer-passive while income taxes are taxpayer-active.
c. individual income taxes yield vastly more revenue than do real property taxes.
d. the statement is inaccurate: real property compliance costs are actually higher.
Than do individual income taxes because local governments administer property taxes. Owners of real estate must pay property taxes that are computed by the municipal authority where the asset is situated.
Property tax is calculated based on the value of the property, which can be tangible personal property or real estate in various countries. The assessed taxes are used for water and sewer improvements. All property owners must yearly pay real estate tax, often known as real property tax (RPT). Real property taxes may be levied by LGUs and local governments across the nation under sections 197 to 283 of the Local Government Code.
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what is the objective of bollinger bands? smooth out data points to find an average stock price over time create ratio sequences for stock prices identify a relative definition of high and low stock prices over a certain time period compare the strength and magnitude of a stock's gains and losses over time
Bollinger Bands are a technical indicator used to identify the relative definition of high and low stock prices over a certain time period.
They are used to smooth out data points to find an average stock price over time and to compare the strength and magnitude of a stock's gains and losses over time.
The bands are composed of a simple moving average (SMA) in the middle, two standard deviations away from the SMA (one above and one below), and two other lines (one above and one below) that are two standard deviations away from the SMA.
These bands measure the volatility of a stock in relation to the average. When the stock is trading near the upper band, it is considered to be overbought, and when it is trading near the lower band, it is considered to be oversold.
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which statement attests to the seriousness of the need for businesses to implement risk management strategies?
Environmental changes are increasingly posing a concern to businesses.
How should business be defined?An organisation or enterprising entity engaging in economic, industrial, or professional activity is referred to as a business. Companies can be for-profit corporations or charitable institutions. Limited liability firms, sole proprietors, corporations, and partnerships are among the several types of businesses.
What makes business so crucial?Our lives depend heavily on business. They start by producing things and services to meet our needs and desires. Then, they enlist households as workers and compensate them with earnings, salaries, and benefits. As a result, it turns into a source of revenue for them, which they may utilize to maintain their way of life.
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for a cartel to be successful in increasing the price all member firms receive for their product, it must be able to g
For a cartel to be successful in increasing the price all member firms receive for their product, it must be able to b) restrict the collective output of all members of the cartel.
An official agreement between a group of producers of an item or service to control supply in order to control or manipulate prices gives rise to a cartel, which is an organization.
In other terms, a cartel is a group of independent companies or nations acting jointly as if they were a single producer, allowing them to set prices for the goods and services they manufacture and provide without having to face competition.
Cartels function to the harm of the consumer because their actions seek to drive up the cost of a good or service over its going rate. However, their actions also have other negative effects.
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Correct question:
For a cartel to be successful in increasing the price all member firms receive for their product, it must be able to
a) increase the collective output of all members of the cartel.
b) restrict the collective output of all members of the cartel.
c) decrease the prices members of the cartel pay for their inputs.
d) increase advertising of all members of the cartel.
The Brandon household has a monthly income of $5.750 on which to base their budget. They plan to save 10 percent and spend 32 percent on fixed expenses and 56 percent on variable expenses. a. What amount do they plan to set aside for each major budget section? (Round your answers to 2 decimal places.) Savings Fixed expenses Variable expenses b. After setting aside these amounts, what amount would remain for additional savings or for paying off debts?
The Brandon Household has budget allocation for the monthly income as:
Savings = $575Fixed expense = $1,840Variable expense = #3,220Remaining income = $115
From the case, we know that:
Monthly Income = %5,750
Savings = 10%
Fixed expense = 32%
Variable expense = 56%
The income allocated as saving is:
Savings = 10% x %5,750
Savings = $575
The income allocated to pay fixed expenses is:
Fixed expense = 32% x %5,750
Fixed expense = $1,840
The income allocated to pay variable expenses is:
Variable expense = 56% x $5,750
Variable expense = $3,220
The remaining income for additional satvings or for paying off debts is:
Remaining income = Monthly income - savings - Fixed expense - Variabe expense
Remaining income = $5,750 - $575 - $1,840 - $3,220
Remaining income = $115
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lance-hefner specialty shoppes decided to use the dollar-value lifo retail method to value its inventory. accounting records provide the following information: cost retail merchandise inventory, january 1, 2021 $ 245,000 $ 350,000 net purchases 458,800 615,000 net markups 18,000 net markdowns 13,000 net sales 460,000 related retail price indexes are as follows: january 1, 2021 1.00 december 31, 2021 1.20 required: determine ending inventory and cost of goods sold using the information provided.
The ending inventory will be $234,800 and cost of goods sold is $275,400.
According to the LIFO retail method, ending inventory includes the start inventory and the present year's layer. to see layers, we have a tendency to compare ending inventory at retail to starting inventory at retail and assume that no over one inventory layer is side if inventory will increase.
Ending inventory is that the quantity of inventory an organization has available at the tip of its year. it's closely connected with ending inventory price, that is that the quantity of cash spent to induce these product available. It ought to be calculated at the lower of price or market.
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the innovation products company wants to launch a new product to replace a current product that is technologically inferior. first-year sales for the replacement product are expected to be 50,000 units at a unit selling price of $12. the initial cost of the product is $9 per unit variable and $125,000 fixed. the expected sales growth is 1,000 units per year, and the expected inflation rate is in a range of 3% to 4% for both sales and variable costs.
The new product is expected to be profitable by $25,000 in its first year. The profitability of the new product can be determined by subtracting the total costs from the total revenue. The total costs include the initial cost of the product ($9 per unit variable and $125,000 fixed) plus the expected inflation rate of 3% to 4% for both sales and variable costs.
The total revenue is the expected first-year sales of 50,000 units at a unit selling price of $12. Based on this information, the profitability of the new product can be calculated as follows:
Total Revenue = 50,000 units x $12 = $600,000
Total Costs = $9 x 50,000 = $450,000 + $125,000 = $575,000
Profitability = Total Revenue – Total Costs = $600,000 – $575,000 = $25,000
Therefore, the new product is expected to be profitable by $25,000 in its first year.
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crazy mountain tours co. is a travel agency. the nine transactions recorded by crazy mountain tours during may 20y2, its first month of operations, are indicated in the following t accounts: cash 5/1 31,000 5/2 2,700 5/11 8,500 5/3 3,800 5/5 4,800 5/9 5,700 5/25 2,500 accounts receivable 5/8 12,600 5/11 8,500 supplies 5/2 2,700 5/15 700 equipment 5/3 12,500 accounts payable 5/9 5,700 5/3 8,700 common stock 5/1 31,000 dividends 5/25 2,500 service revenue 5/8 12,600 operating expenses 5/5 4,800 5/15 700 based upon the t accounts provided, prepare the nine journal entries from which the postings were made.
The journal entry of the crazy mountain tours co is given below.
The term journal entry in accounting is defined as records a business transaction in the accounting system for an organization
Here we have given crazy mountain tours co. is a travel agency. the nine transactions recorded
And we have to prepare the nine journal entries from which the postings were made.
While we looking into the given question we have identified the following as debit transactions,
Accounts receivable = 12,600 + 8500 = 21,000
Equipment = 12,500
Common stocks = 31,000
Dividend = 2,500
And the credit transactions are identified as,
Accounts payable = 5,700 + 8,700 = 14,400
Supplies = 2700 + 700 = 3400
Operating expenses = 4,800 + 700 = 5,500
The the journal entry for the transaction can be written as follows:
Jan Accounts receivable Dr. $21,000
Equipment Dr. $12,500
Common stocks Dr. $31,000
Dividend Dr. $2,500
To Supplies $3,400
To Accounts payable $14,400
To operating expenses $5, 500
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