Depreciation is the process of allocating costs over the course of an asset's life.
The donut shop needs to keep $4,750 in records every year from years three to six for depreciation.
What is depreciation?Depreciation: Depreciation is the process of allocating costs over the course of an asset's life. Assets with a lifespan of more than five years are referred to as long-lived assets. It is a cost of doing business. The units of production technique, the declining method, and the straight-line method can all be used to compute depreciation. Depreciation cannot be used to calculate the asset's real value.
Straight-line technique: This method divides the asset's life by the difference between its cost and residual value to calculate the amount of depreciation. In this system, the depreciation amount is distributed equally across the asset's useful life.
Depreciation for year 3 is $4750 and is calculated as follows:
Asset's cost was $27,000
less Depreciation (2 years) 8,000
Book Value $19,000
divide remaining life 4 yrs
$4,750 in depreciation
Therefore,The donut shop needs to keep $4,750 in records every year from years three to six for depreciation.
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on april 1, snell company made a $50,000 sale giving the customer terms of 3/10, n/30. the receivable was collected from the customer on april 8. how does the collection of cash from the customer affect the company's financial statements? balance sheet income statement statement of cash flows assets
We all know that 3/10, n/30 indicates that the consumer will receive a 3% discount if the payment is made within 10 days, but the payment must be made within 30 days.
Snell Company offered a 3% discount to customers as a result of selling the products on April 1 and receiving payment on April 8. The financial accounts will be as follows because there is a discount:
income declaration
Sales = $50,000
Less: Discount for sales (1,500)
$50,000 × 3%
$48,500 in sales on a net basis
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market power a. is the capability to increase price without losing all sales. b. exists whenever the firm faces a downward-sloping demand curve. c. is greater the less elastic is demand. d. is smaller the more positive is the cross-price elasticity of demand with respect to rival goods. e. all of the above.
E) Market power encompasses all of the aforementioned.
How does market power work?Market power is the ability of a company to influence supply, demand, or both in order to change the price of a product in the marketplace. A company with significant market power has the power to control its profit margin by manipulating the market price.
It may also be able to raise barriers for potential new entrants into the market. Because they can set or change the retail price of an item without giving up market share, companies with market power are frequently referred to as "price makers." Pricing power is another name for market power.
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multiple choice question which statement in true about business relationships in supply chains? multiple choice question. they are always close working partnerships. they must be between divisions of the same firm. they are based on meeting each other's needs. they must be between independent entities.
relationships in supply chains are based on meeting each other's needs.
A supply chain is a network made up of all the individuals, organizations, enterprises, assets, tasks, and technical developments involved in the manufacture and distribution of an item. A complete supply chain is included, from the transfer of raw materials from the supplier to the production to the last delivery to the customer. Supply chain activities include, among others, designing, farming, manufacturing, packaging, and transportation.
Anything can travel without incident thanks to supply chain management, even goods, and any unanticipated natural disaster. Global logistics management is the responsibility of supply chain managers. With skilled supply chain management, managers can promptly spot problems or interruptions in the smooth transportation of goods.
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the ricardian model of international trade demonstrates that trade can be mutually beneficial. why, then, do governments restrict imports of some goods?
The ricardian model of international trade demonstrates that trade can be mutually beneficial. Trade can have substantial effects on a country's distribution of income.
What is Trade?Trade is the spontaneous exchange of goods or services between various economic agents.Neither party is obligated to bargain, so a deal will only occur if both parties deem it to be in their own interest, resulting into ricardian model.Suppose there are two friends, Liam and Henry. Henry has food but needs wool, and Liam has wool but needs food. So Liam and Henry trade food for wool, Liam gets food and Henry gets wool, and both are happy.According to ricardian model, the term trade or commerce generally includes any activity undertaken to generate income from the sale of goods or the provision of services.It is not limited to the consolidated aggregation of the assets, activities and goodwill that make up the entity as defined in certain other provisions of the Internal Revenue Code.To learn more about trade from the given link :
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a firm has a market value equal to its book value. currently, the firm has excess cash of $200 and other assets of $7,000. equity is worth $7,200. the firm has 900 shares of stock outstanding and net income of $825. what will the new earnings per share be if the firm uses its excess cash to complete a stock repurchase?
The new earning per share of the firm uses its excess cash to complete a stock repurchase = $ 0.942 per share .
Earnings per share :
Earnings per share( EPS) is a company's net profit divided by the number of common shares it has outstanding. Earning per share indicates how important plutocrat a company makes for each share of its stock and is a extensively used metric for estimating commercial value.
Evaluating :
Price per stock = $7200 ÷ 900
=$8
With excess money we can buy 25 shares ($200 ÷ 8)
∴ Total remaining shares = 900-25
=875
Earnings per share = Net income ÷ Total outstanding shares
= $825 ÷ 875
=$ 0.942 per share
Hence earning per share = $0.942
Stock repurchase :
A share repurchase or buyback is a decision by a company to buy back its own shares from the business. A company might buy back its shares to boost the value of the stock and to ameliorate the fiscal statements. Companies tend to rescue shares when they've cash on hand and the stock request is on an upswing.
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a staffing management plan addresses all of the areas below except: a. how to identify potential internal and/or external human resources for the project. b. how to determine the availability of the internal and/or external human resources for the project. c. how to decide timing issues with regard to building up, developing, rewarding, and releasing the project team. d. how to record resource assignments in a project scheduling tool such as ms project.
A staffing management plan does not address timing decisions regarding the training, development, reward, and release of the project team. The alternative c is correct.
What is a staffing management plan?It corresponds to the organization and definition of the course of action that will be implemented so that the human resources department of a company can train and develop employees so that they increase their work performance so that organizational objectives and goals can be achieved.
In relation to the question, the other alternatives are relevant parts of a personnel management plan, such as identifying, determining availability and recording resource assignments in case this plan is developed for a specific project.
Therefore, the issue of defining time issues is usually a complex task, as externalities and risks associated with a project arise that are a challenge for the manager, such as meeting the project schedule.
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which of the following statements regarding the flow of information from the adjusted trial balance on the end-of-period spreadsheet is true? a.the revenue and expense account balances flow into the statement of owner's equity. b.the asset and liability account balances flow into the statement of owner's equity. c.the revenue and expense account balances flow into the income statement. d.the owner's equity and drawing account balances flow into the balance sheet.
True statements regarding the flow of information from the adjusted trial balance are that the revenue and expense account balances flow into the income statement.
An adjusted trial balance is produced after any adjustments, and it displays the balances of the general ledger accounts. These adjustments frequently include depreciation, prepaid charges, accruing costs, and other non-cash expenditures.
The transactions a business makes throughout a single accounting cycle are recorded on an adjusted trial balance sheet. This can be done by collecting the balances of each account and eliminating information about transactions that didn't happen during the accounting cycle.
Despite the fact that the adjusted account balances will be included in the financial statements, the adjusted trial balance is not a financial statement. Both the adjusted trial balance and the unadjusted trial balance must have total debit balances that are equal to the total credit balances.
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late entrants who come into the market at maturity must try to take a share of an already saturated market. they attempt to do this by investing heavily in . multiple choice question. promotion staffing distribution buildings
If late entrants who come into the market at maturity must try to take a share of an already saturated market. they attempt to do this by investing heavily in promotion.
What is promotion?Promotion can be defined as a form of marketing strategy that is used to create awareness about a new product or already existing product so as to attract potentials customers.
Market saturation tend to occur in a situation were a product is higher than what was demanded in the market and this can sometime affect manufacturer of the product as the may find it hard to increase their revenue.
Therefore the correct option is A.
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your company's total sales revenue for the month is $150,000; the costs to produce your products are $12,000 for rent, $6,000 for utilities, and $42,000 for employee wages. what is your accounting profit?
When the total sales revenues for the month is $150,000, and the costs undergone for such revenues are $12,000; $6,000, and $42,000 over different heads, the total accounting profits for the month will be $90,000.
What is the significance of accounting profits?
The accounting profits of an organization can be referred to or considered as the surplus benefits of differences between the revenues of the organization and the costs that are undergone for such accounting period.
For the conditions and costs given above, the accounting profits for the firm will be,
Accounting Profits = Total Revenues – Total Costs
Accounting Profits = 150000 – (12000+6000+42000)
Accounting Profits = $90,000.
Therefore, the accounting profits for the company for the given costs and revenues will be $90,000.
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According to the coase theorem, which situation would most likely result in a private bargaining solution and yield an efficient market?.
The Coase theorem states that when externalities are present, the private market will require government intervention to provide an efficient result.
The Coase Theorem is what?According to the Coase Theorem, granting property rights can mitigate harmful externalities in some situations. A Forrester might manage their forest, for instance, to ensure its lifespan and safeguard it from fires. The ability to sell logs in upcoming years is an incentive to do this.Ronald Coase, an economist, first proposed the Coase theorem in his 1960 paper, "The Problem with Social Cost." He demonstrates how conflicting property rights can lead to ineffective economic outcomes. Uncertainty about property rights might lead to disagreements.Where a company might pollute a river is one such instance of the coase theorem. Conversely, people who gain from strolling past the river and taking in the scenery experience a negative externality. The river could contain bottles and other objects that are unpleasant. The right to the river does not belong to either the company or the person. What happens has a negative impact on the person crossing the river.To Learn more About Coase theorem refer to:
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which factor is a social force that influences the marketing environment? multiple choice computers and technological advances purchasing power political actions of interest groups unemployment the public's opinions about the environment
Public's opinions about the environment is a social force that influences the marketing environment
The influences on a society's culture that shape attitudes, beliefs, conventions, habits, and lifestyles are known as socio forces. Consumerism, cultural values, and demographic and diversity features are three significant social challenges that directly affect marketers. A population's consumption of goods may fluctuate in response to changes in its demographic features, such as age, income, race, and ethnicity.
Marketing professionals keep a careful eye on changes in cultural values since they have a significant impact on consumers' needs for products. Examples of these values include those pertaining to family, health, nutrition, and the environment. To preserve consumers' rights, people, groups, and organizations engage in consumerism. Consumer rights organizations educate and mobilize other consumers, raise concerns, assist companies in creating consumer-focused initiatives, and exert pressure on lawmakers to pass laws.
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kit kat is a candy bar that is sold around the world. but kit kats are not the same in every geographic location. in japan, for example, you can buy green tea and sweet potato kit kats. in england, you can buy hazelnut kit kats, and in the united states, you can buy big kats, or larger versions of the candy. each country is seen as having their own unique culture, and therefore their own need for special products. what kind of worldview would you say kit kat has? geocentric polycentric ethnocentric regiocentric
Kitkat has taken a polycentric approach to selling candy bars in different parts of the world
The company offers products that are specially suited for the local market and adjusts its marketing strategy accordingly. The key to successfully marketing the product in that nation is to respect its values. The antithesis of ethnocentrism is this strategy. With this strategy, the company typically assumes that the international market is unique from the home market. For instance, Pizza Hut sells sweet potato-stuffed crusts in South Korea and squid and seaweed on its pizzas in Japan to cater to local tastes. The company thoroughly respects the nation's values, including its culture, religion, and customs.
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g the epson press will cost you $450,000. the epson will last 7 years. the cost of operating and maintaining the press will be $70,000 for the first three years and $80,000 for the last four years of its useful life. at the end of the seventh year you will sell the press for $50,000. the appropriate discount rate is 10%. calculate the equivalent annual cost of each printing press. which one should you buy?
g the epson press will cost you $450,000. the epson will last 7 years. the cost of operating and maintaining the press will be $70,000 for the first three years and $80,000 for the last four years of its useful life buying.
Masters Machine Shop
PV of Salvage value = $74,000 x 0.683 = $50,542
Present value of total savings $449,126
less Present value of investments 494,888
Net Present Value $4,780
Explanation:
a) Data Amount Present Value
Cash Outflow $450,000 $450,000
Initial spare parts 33,000 33,000
Annual Inventory 3,750 11,888
PV of investments $494,888
g the epson press will cost you $450,000. the epson will last 7 years. the cost of operating and maintaining the press will be $70,000 for the first three years and $80,000 for the last four years of its useful life buying.
Project lifespan = 4 years
Discount rate = 10%
Annual pretax cost savings = $184,000
Tax rate 23% 42,320
After Tax savings $141,680
PV of Annuity of Tax savings = $141,680 x 3.170 = $449,126
Salvage value = $74,000
PV of Salvage value = $74,000 x 0.683 = $50,542
Present value of total savings $449,126
less Present value of investments 494,888
Net Present Value $4,780
g the epson press will cost you $450,000. the epson will last 7 years. the cost of operating and maintaining the press will be $70,000 for the first three years and $80,000 for the last four years of its useful life buying.
b) Master Machine Shop's Net Present Value (NPV) is the difference between the cash inflows (savings) and the cash outflows (investments) for this four-year project
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explain the essential differences between full cost pricing and marginal cost pricing strategies. 7.5 what would happen financially to a health services organization over time if its prices were set at a. full costs? b. marginal costs? 7.6 a. what is cross-subsidization (price shifting)? b. is it as prevalent today as it has been in the past?
Businesses can recover all costs, including fixed and variable costs, with full cost pricing, whereas marginal cost pricing recovers only variable costs. The practice of charging higher prices to one type of consumer in order to artificially lower prices for another group is known as cross subsidization.
What is cross-subsidization?Cross subsidization is defined as a difference in price policy for two groups of buyers, or it can be stated as Cross-subsidization occurs when a marketer charges a higher price to one group of consumers in order to subsidies lower prices for another. The practice of redirecting revenue from profitable services to subsidies unprofitable services is known as cross subsidization. Know that such practice is not dependent on price fluctuations and can be a perfectly predictable part of running a hospital. Cross-subsidies exist when the government allows businesses to overcharge one group of customers in order to subsidies another.
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shimray is convinced that he can predict a job applicant's future performance better through a 5-minute meeting than through evaluating pre-employment test scores or reference checks. what basis is shimray using to make hiring decisions?
Shimray is convinced that he can predict a job applicant's future performance better through a 5-minute meeting than through evaluating pre-employment test scores or reference checks. Shimray is using intuition as a basis of making his hiring decisions.
Pre-employment screening involves gathering all of the information required to make an amazing rent. This includes figuring out applicants that meet predetermined job qualifications and verifying the statistics they offer. The pre-employment screening manner spans from application evaluation to the very last hiring selection.
A pre-screening interview, or pre-employment screening, is a series of questions that lets you learn some fundamental qualification statistics approximately candidates, prior to conducting a greater substantial interview.
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The rate of inflation in zimbabwe rose in 2018 from 10. 6% to 577. 21% in 2020. What was the positive effect of this unexpected inflation on the residents of the country?.
Borrowers benefit from unexpected inflation since the money they pay back is less valuable than the money they loaned.
Inflation decreases the purchasing power of money. As a result, if the borrower pays an interest rate that is lower than the inflation rate, he profits. This happens because the real value of the money returned by the borrower is less than the value of the money borrowed. If a company's profits increase due to inflation, it can pay out dividends to its shareholders. As a result, during inflationary periods, shareholders' dividend income may increase.
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jenna's company exports tea to various markets around the world. in the past six months, the company has focused on developing new flavors and was surprised to learn that a competitor gained market share by expanding into four new foreign countries. which part of a product-market did jenna's company fail to take into account?
Startup advisor and investor Marc Andreessen defines "product-market fit" as being in a healthy market with a product that can meet that market's needs.
Which four types of market segmentation are there?
The four primary categories of market segmentation are thought to be geographic, psychographic, behavioral, and demographic; however, there are many other tactics you can employ, as well as countless variants on the four primary types.
What therefore are the prerequisites for successful market segmentation?
Measurable, accessible, substantial, differentiable, and actionable segmentation is required for success. A business has a better chance of long-term success and increased profitability when it has appropriately segmented its market.
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3. productivity, dependability, and responsibility are examples of skills that managers look for when determining who to promote within a company. evaluate these three skills and another one or two that you come up with and explain how each skill could be helpful for an employee looking to get a promotion.
Decent cultural fit One of the most difficult aspects of the job search process is finding a company with a wonderful culture and team members that make you feel at home. A creative environment,a concentration on career advancement,an established organizational structure that is evident, Employer investment.
How should a competent manager look?In addition to leading teams and fostering their growth, excellent managers are also able to fully control their company's operations and performance. These are the individuals that consistently adapt to novel circumstances, inspire others to realize their greatest potential, and produce their best work.Good managers are independent and don't need much guidance. They must take responsibility for their own errors. Effective managers model constructive accountability in their behavior and leadership. This is crucial because managers must teach employees how to take accountability upon themselves.Decent cultural fit One of the most difficult aspects of the job search process is finding a company with a wonderful culture and team members that make you feel at home. A creative environment,a concentration on career advancement,an established organizational structure that is evident, Employer investment.To learn more about Good managers refer to:
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at an interest rate of 10% per year, the length of time required from time zero to recover an initial investment of $10,000 by receipts of $1,000 per year beginning in year three is nearest to: a) 10 years b) 20 years c) 100 years d) never
Initial investment can never be recovered.
Let the present value of a regular perpetuity be = pv
Annual cash flow = cf = $1,000
Interest rate = r = 10
If the initial payment begins in one year, then the present value of the regular perpetuity will be -
PV = CF/r
PV = 1,000/0.1
PV = 10,000
Therefore,
The flow of infinite payments beginning next year is equivalent to $10,000.
However, if the payment begin in third year, the first two payments will be missing and the present value of deferred payments can never be equal to $10,000.
Thus, initial investment can never be recovered.
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which category of funds is used to account for most of the day-to-day public services provided by a government? a. fiduciary type funds b. enterprise type funds c. proprietary type funds d. governmental-type funds
The category of funds used to account for most of the day-to-day public services provided by a government are called governmental-type funds.
What are the types of governmental funds?General Fund
A general fund is the term used to describe the main operating money for the entire government. It functions partly as a catch-all fund for assets that are neither required nor designated to another fund.. For instance, the general fund receives the federal government of the United States' tax revenue.
Funds for Special Revenue
These are used to keep an eye on the revenue restricted to specific uses from specific sources. It is the most frequently tapped fund, and most commonly, parks, schools, and libraries are funded with its help. The public has access to information on how much was spent on the creation or maintenance of these particular sources.
Fund for Debt Service
Long-term debt issued to finance certain government initiatives is repaid using a debt service fund. The principal as well as interest are inclusive.
Fund for Capital Projects
This takes into account the financial resources needed to build significant capital structures or projects. Work on long-lasting infrastructure, like libraries or governmental structures, is frequently included in capital projects.
Contingent Fund
A restricted endowment fund like this one generates and distributes funds to individuals who are eligible to receive them. For instance, the state's distribution of oil money to Alaskan citizens is one of the most well-liked permanent fund disbursements.
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the international monetary system went through several distinct stages of evolution. these stages are summarized, in alphabetic order, as follows: (i) bimetallism (ii) bretton woods system (iii) classical gold standard (iv) flexible exchange rate regime (v) interwar period the chronological order that they actually occurred is:
The development of the global monetary system has gone through four periods or stages: Golden Rule (1875-1914) Interwar years (1915-1944) System of Bretton Woods (1945-1972).
What stages has the global monetary system gone through?
The four stages of the development of the international monetary system are as follows: the gold standard (1880–1914); the gold exchange standard (1925–1933); the Bretton Woods system (1944–1971); and the Jamaica system, commonly referred to as the variable exchange rate system (1976–present)
How was the global monetary system established?
In July 1944, representatives from 44 nations met in Bretton Woods, New Hampshire, to create a new global monetary system. At the meeting, participants decided to launch the World Bank Group and the International Monetary Fund.
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in early 2000s, oil prices were rising because of concern about the iraqi invasion kuwait and other situations, along with rapid growth in demand in the far east. prices eventually reached over $100 a barrel. how would most economists predict these high prices should affect the u.s. economy in terms of the ad/as model? multiple choice
Economists predict that high prices of oil should affect the US economy because oil is the most important input in many production processes. In the term of the AD/AS model, the higher prices should shift the short-run aggregate supply curve up (to the left).
The Aggregate Demand–Aggregate Supply or also known as AD/AS model can be described as a macroeconomic model that explains output and price level through the relationship of aggregate demand and aggregate supply. The Aggregate Demand–Aggregate Supply or also known as AD/AS model is based on the theory of John Maynard Keynes presented in his work The General Theory of Employment, Interest and Money. The aggregate supply curve slopes up is happen when the price level of inputs remains fixed while the price level for outputs increases. The aggregate supply curve slopes up cam make the opportunity for additional profits encourages more production.
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physical capital includes: question 31 options: a) manufactured products that are used to produce other goods and services. b) land and raw resources that come from land. c) the physical talents of people. d) the ability to take physical resources and use them in creative ways to produce goods and services.
Physical capital includes land and raw resources that come from land.
What is physical capital?Physical capital is one of the three primary factors of production in economics. Physical capital is the machinery that is used to generate commodities and services. Physical capital refers to the concrete things that people have produced to help and support manufacturing. Physical capital comprises items like inventory, cash, equipment, and real estate. Capital goods are among the most crucial elements of a corporation's operation. A firm can typically maintain liquidity while growing operations with capital, which refers to tangible assets in a corporation and the method through which a company acquired its physical capital. When considering how firms have raised money, it is important to consider both physical capital and human capital.
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george, a successful entrepreneur in his mid-forties, starts a new business unit that produces chemical fertilizers and makes a profit. however, the government brings in a new policy to ban certain fertilizers that his industry produces. which is the best strategy that george should adopt in this scenario?
He needs to start making fertilizers that the government has approved.
The war has halted fertilizer shipments since the Russian invasion of Ukraine began in February 2022, a crucial source of fertilizers for crops. In terms of phosphorus and potassium fertilizer exports, Russia is the second-largest exporter in the world behind the United States.
firms that are the largest in the US in terms of fertilizer manufacturing. The Fertilizer Manufacturing in the US industry is covered by 3 companies: Cf Industries Holdings, Inc., Mosaic Co., and Nutrien Ltd.
About 93 percent of the country's potash requirements were imported in 2021. 83% of the potash utilized in the United States comes from Canada; 12% comes from Russia and Belarus in 2021. United States According to the UN's COMTRADE database on global commerce, fertilizer imports from Russia were US$1.28 billion in 2021. Fertilizer imports into the United States from Russia - data, historical chart, and statistics - were last updated in October of 2022.
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1. burton electronics produces radios, computers, and navigation systems. although all high level decisions are made at company headquarters by top management, rapid expansion and increasingly specialized products have caused the company to consider decentralizing into three divisions (i.e., radios division, computers division, and navs division). each division manager would be responsible for costs, revenues, and investments in assets. a) how should the company classify the three divisions, as cost centers, profit centers, or investment centers? explain. (10.2) b) what are the potential advantages of decentralizing? (10.1) c) what are the potential disadvantages of decentralizing? (10.1)
All three centres will be in charge of cost and revenue management. A profit centre is a division that is in charge of managing both costs and revenues. It is the investment centre because all high-level decisions are made at headquarters.
What is revenue?
Revenue is the money earned through routine business operations and is calculated by multiplying the average sales price by the number of units sold. Net income is calculated by subtracting costs from the top line (or gross income). On the income statement, revenue is also referred as sales. Revenue is the money generated into a firm by its operations. Depending on the accounting method used, there are various methods for calculating revenue. Accrual accounting will treat credit sales as revenue for products or services given to the customer. Revenue is recognised even if compensation has not yet received under certain rules.
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when a firm produces and sells 150 units of output, its average total cost is $24.50. when the firm produces and sells 151 units of output, its average total cost is $24.55. when the firm increases its output from 150 units to 151 units, its marginal cost is
Total profit earned by the firm is $2,325 considering total cost $6000 and marginal cost per unit = $0.05.
No. of units = 150
Average cost per unit = $24.50
Total cost = 150* 24.50 = $3,675
Selling price per unit = $40
Total selling price = $40*150 = $6000
Profit = $6,000-$3,675 = $2,325
Average total cost of producing 151 units = $24.55
Marginal cost per unit = $24.55-$24.5 = $0.05
Total cost is the total of all costs associated with producing a certain output of any kind. The whole cost approach is preferable from an accounting perspective since operational costs must be attributed to particular assets. Only indirect costs are more likely to be included in short-term decision-making, which makes it far less likely that total cost will be taken into consideration.
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The question was incomplete. Check below the full question.
The information below applies to a competitive firm that sells its output for $40 per unit.
• When the firm produces and sells 150 units of output, its average total cost is $24.50.
• When the firm produces and sells 151 units of output, its average total cost is $24.55.
When the firm produces 150 units of output, its profit is
a. $2,150.00.
b. $2,325.00.
c. $3,100.75.
d. $3,675.00.
allie's only source of income for the year is wages from a part-time job of $9,000. she is not married and has one dependent child. allie has no tax liability and she had no income tax withheld by her employer. what is the amount of allie's earned income credit?
The amount of Allie's earned income credit is $3,060 even though she has no tax liability and no withholdings.
She will receive a refund of $3,060 ($9,000 x .34) even though she has no tax liability and no withholdings.
The Earned Income Tax Credit (EITC) is a refundable tax credit for low-income families, but you must meet certain requirements.
A single mother with one child is eligible if she meets the following criteria:
must have at least one dollar in earned income (wages and salaries only)
must make less than $41,094 per year in investment income investment income must be less than $3,600 single filer
You and your child must have lived in the United States for at least six months.
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the entry to record the purchase of inventory on account causes . multiple choice question. a decrease in assets and stockholders' equity an increase in assets and liabilities a decrease in one asset and an increase in another asset an increase in assets and decrease in stockholders' equity
The entry to record the purchase of goods on account is what results in the purchase of inventory being recorded. Journal entry for an acquisition of stock The first inventory purchase is being processed by the accounts payable system.
The corporation can create a journal entry for an inventory purchase under the periodic method by debiting the purchase account and crediting either the accounts payable or the cash account. The balance of the purchase account is typically on the debit side because it is a temporary account.
At the end of the time period, it will be utilized to calculate the cost of items. Therefore, it is important to accurately record journal entries for purchases, processing, and sales in order to account for inventory. To balance the financial statistics and maintain track of firm inventories.
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if atlantis and zanadu specialize based on comparative advantage and trade, would they be able to gain from trade if the terms of trade are 1 helmet for 3 baseballs? explain.
Assume that Atlantis and Zanadu both manufacture baseballs and helmets. Atlantis can create 1 helmets or 3 baseballs with the same resources, but Zanadu can produce 1 helmets or 6 baseballs.
How are baseball helmets decorated?Players use pine tar, a sticky material, to their bats to lessen bat sliding. When they adjust their batting gloves, the goop gets on them and is then transferred to their helmets. Players like Cabrera who continuously alter their helmets leave more debris on them. (a) While running the bases and at bat, all players are required to wear a protective helmet of some kind. (a) While at bat, every player in National Association Leagues is required to wear a double ear-flap helmet. (c) A single ear-flap helmet is required for all Major League players (or, at the player's discretion, a double ear-flap helmet).
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riverland shoes and boots inc. manufactures three styles of steel-toed work boots. they are currently transitioning to the abc method of costing. they are currently working on calculating the cost driver rate. what formula would they be using to calculate the rates needed to assign moh to the boots?
A system of cost estimation and cost accounting is referred to as the method of costing. Different industries have different natures, create different goods, and provide different services. As a result, different industries employ various costing techniques.
Explain about the method of costing?The costing method is the strategy used by an organization to gather cost information in a more acceptable way. The types of products being made dictate the various approaches that are used by various firms.
In order to assign a cost to a manufactured good, product costing techniques are used. Process costing, job costing, direct costing, and throughput costing are the primary costing techniques accessible. Each of these approaches can be used in various production and decision-making situations.
Process costing, job costing, and direct costing are the three main costing techniques. Each of these approaches can be used in various production and decision-making settings.
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