Lanier Company spends 60,000 annually on fixed expenditures to produce and market that it sells for $15 per unit. The product's variable for and selling each unit are $9. 10,000 units are need to break even.
A payment made in cash or on credit to buy goods or services is referred to as an expenditure. It is recorded once, at the moment of purchase, as opposed to an expense, which is reported after it has been used up or expired. In this article, we'll go through the many sorts of expenses utilised in accounting and finance.
An accountant must provide proof that a transaction actually took place in order to report an expenditure. For instance, a sales receipt will serve as evidence of an over-the-counter transaction, whereas an invoice will serve as notification that payment is required for products and services. Organizations can keep a close eye on their transactions thanks to the documentation.
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suppose that george goes to a bakery to buy donuts for breakfast. the maximum amount he is willing to pay for a first donut is $2.00, a second donut is $1.50, a third donut is $1.00; a fourth donut is $0.50, and a fifth donut is $0.00. the bakery charges a price of $1.00 per donut. if george is rational, he will buy donuts and gets consumer surplus of .
George has set aside $10 for two in this instance. Coffee costs $3, but donuts cost $2.
=> The formula is therefore = $2*donut + $3*coffee = $10.
So that he can purchase two donuts and two mugs of coffee.
Consumer surplus—where is it?
The gap between the highest price a consumer is prepared to pay and the price they actually pay is known as the consumer surplus.
When customers pay less for a good or service than they are willing to, this is known as a consumer surplus. It measures the extra benefit that consumers get from paying less for something than they would have been prepared to.
How does consumer vs. producer excess work?
The gap between a consumer's willingness to pay and their actual purchase price is referred to as the consumer surplus. The difference between the market price and the least amount a producer is willing to take in exchange for a good is known as the producer surplus.
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one of the things that you learn from the interns in the opening video of session 06 is that in supply chain management, even as an intern, you get to:
Answer:
Do something
Explanation:
That's all
In a market without prices, where goods are allocated by a central planner, which is likely to happen?.
Since there are no price signals in a planned economy, planners are unable to predict with any degree of accuracy the products that will be required or adjust to changing circumstances. As a result, there can be unneeded shortages or surpluses of particular items.
What is the allocation mechanism in a free market called?Resources are distributed in a free market economy through the interaction of free and self-directed market forces. This means that producers decide how to produce, consumers decide what to produce, and customers decide who gets the products based on their purchasing power.
A free-market economy allocates resources through the price system. This approach addresses the economic issue of limited resources. The price transfers resources to areas where they are needed or where there is a shortage, while removing them from areas where there is an abundance.
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assessment 1: (static) many companies determine the price they charge... lo 2-5 many companies determine the price they charge for their products by adding an amount of desired profit to the cost of making or buying the product. frequently, it is inappropriate to use the actual cost of the product when implementing such a cost-plus pricing model. this statement is
Fed Ex delivers Alex's PC after he buys it from Dell. The thrower takes damage when they are hit. No, because the moment a common carrier receives the item, ownership of the object passes to the buyer.
According to U.S. law, a common carrier is any private or public company that transports goods or persons from one place to another for a fee. This phrase can also relate to telecommunications services and public utilities.
a business or organisation that offers the general public transportation services for people, goods, or communications
Transportation is the process of moving objects or people using a number of methods from one area to another. The rise of technology is a sign of civilisation, and in particular, of
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allows for some flexibility in the budget for unexpected events.
Answer:
Agile budgeting gives you the flexibility to alter your budget in response to changing market conditions or unexpected events.
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Which of these statements about a business plan is true?
A. Businesses do not need to document a business plan.
B. Established businesses do not create a business plan.
C. A business plan is a business’s roadmap for the future.
D. A business plan guarantees a business’s success.
Answer:
The correct answer would be option C, A business plan is a business's road map for the future.
Explanation:
A business plan is basically a written document, in which the goals of the company are written down. The methods to achieve those goals are also written down and the time to achieve the goals are specified. Goals with timelines and deadline are written. This helps a business in setting up a road map to move towards the set goals of the company. Established businesses always create and follow business plans as business plans guarantee a business's success.
Answer: C. A business plan is a business’s roadmap for the future.
which of the following would shift the labor supply curve? demand increases for the output produced by workers. the government increases its provision of childcare services. technological advancement increases worker productivity. there is more effective management at companies.
The shift in the labor supply curve comes when D. The government increases its provision of childcare services.
What is a labor supply curve?The labor supply curve illustrates the number of hours that workers would be willing to put in at various pay rates. In general, employees will be willing to work greater hours the better their pay is. The labor supply curve moves to the right as the labor supply grows. It will move to the left if it declines.
There are various factors that cause the labor supply curve to shift left or right:
Preferences & incomePopulationPrices of goods and servicesExpectationsTo learn more about labor supply curve visit:
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under sfac no. 8, conceptual framework for financial reporting, chapter 4, elements of financial statements, interrelated elements of financial statements include distributions to owners notes to financial statements distributions to owners yes notes to financial statements no distributions to owners no notes to financial statements yes distributions to owners yes notes to financial statements yes distributions to owners no notes to financial statements no
The goals of financial reporting are outlined in SFAC 8, which also informs users of the data that financial statements can provide.
Although this part of the conceptual framework can be a little confusing, there are certain key points that small business owners should remember. The goals and associated accounting and reporting objectives stated in SFAC 4 are intended to serve as a foundation for the creation of specific accounting and reporting standards. However, they are concepts rather than standards. According to 1, the goal of the Statements of Financial Accounting Concepts is to set the goals and ideas that the FASB will use as the foundation for developing new standards. The ten components of a financial statement are specifically listed in SFAC 63. Assets, liabilities, equity, owner investments, owner distributions, total income, revenues, expenses, gains, and losses are some of these components. We advise affirming that the IASB may deviate from specific elements of the Conceptual Framework in a select number of circumstances. If the IASB does this, it will explain why in the Basis for Conclusions on the relevant Standard. The Conceptual Framework's main goal was to help the IASB draft new IFRSs and examine those that already existed. The Conceptual Framework might also help those who compile financial statements come up with accounting procedures for events or transactions that aren't covered by current standards.
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wayne buys a new laptop every two years. at this point, rather than research different brands, he simply orders the latest version of the one he already has. for wayne, the laptop is a(n) blank problem-solving purchase experience
Every two years Wayne buys a brand-new laptop. Now, instead of researching several brands, he just orders the most recent model of the one he already owns. Wayne's purchase of the laptop was a constrained attempt to solve an issue.
Research is a methodical process of inquiry that involves gathering data, recording important information, and then analysing and interpreting that data and information in accordance with appropriate procedures established by particular academic and professional disciplines. Research gives you the chance to explore your hobbies, pick up new knowledge, improve your problem-solving abilities, and present yourself with fresh challenges. You get the chance to collaborate closely with a mentor—a faculty member or other accomplished researcher—by working on a research project that was begun by the faculty. A stationer's purchases of stationery are referred to as "Purchases." "Purchases" are the items of clothing that a textile trader buys. "Purchases" refers to cement acquired by a cement dealer.
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anita walsh is considering an additional charitable contribution of $1,500 to a tax-deductible charity, bringing her total itemized deductions to $16,000. if michele is in a 24 percent tax bracket, how much will this $1,500 contribution reduce her taxes?
Her tax savings from this $1,500 contribution will be $360.
What is tax?
Tax compliance refers to policy actions as well as individual behaviour aimed at ensuring that taxpayers pay the right amount of tax just at right time and securing the correct tax allowances and tax reliefs. A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (an personal or legal entity) by a governmental organisation in order to fund government spending as well as various public expenditures. Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. Failure to make timely payments as well as tax evasion or resistance are examples of breaking the law. Taxes can be direct or indirect and can be paid cash or through the labour equivalent.
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assume that a company uses a periodic inventory system and has these account balances: purchases $820,000, purchase returns and allowances $90,000, purchase discounts $110,000, and freight-in $108,000. determine net purchases and cost of goods purchased.
Net purchases and cost of goods purchased is $620,000; cost of goods purchased: $728,000.
What is net purchases?
Net purchases is calculated by deducting the credit balances from of the debit balance in the purchases account from the credit balances in the purchases allowances and returns as well as purchases discounts accounts. Net purchases plus the debit balance on the freight-in account represent the cost of the goods being purchased. Net purchase is the total amount of a company's purchases less any deductions made for particular items. These deductions typically consist of purchase discounts, returns, as well as allowances. A purchase is treated as an expense account in accounting, and these accounts make up contra expense accounts.
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In year 1 pepper company reported a $40,000 gross margin on $200,000 of sales revenue. In year 2 pepper’s accounting records showed sales revenue of $220,000 and cost of goods available for sale of $210,000. Using the gross margin method of estimating inventory, the estimated amount of ending inventory for year 2 is.
Using the gross margin method of estimating inventory, the estimated amount of ending inventory for year 2 is $34000.
The gross profit margin formula,
Gross Profit Margin = (Revenue - Cost of Goods Sold) / Revenue x 100,
calculates the percentage of revenue you keep after deducting all costs from each sale. It is used to assess a company's ability to generate revenue while keeping expenses low.
What is the gross margin method's ending inventory?
To calculate the estimated cost of goods sold, multiply the gross profit percentage by the sales. To calculate the ending inventory, subtract the cost of goods available for sale from the cost of goods sold.
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if you need to make a decision and all the information needed to make a good decision is not available, then you: have to make a prediction. face an analysis hurdle. have a knowledge problem. are dealing with a partitioning issue.
if you need to make a decision and all the information needed to make a good decision is not available, have a knowledge problem.
What is a knowledge problem?This is the term that is sued to refer to the problem that would exist due to the fact that there is a lack of information that would have been used to make the good decision that the person is trying to make.
In order to make good decisions, one of the factors that a person would have to think of is that they should have the right information that they would be used.
The right information helps to ensure that a person would pick the choice that is best for him or her and it would also help to ensure that the person that to make the decision ends up picking the best out of all that they are to do .
Hence the correct answer is they have a knowledge problem.
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an effective distribution network can overcome minor flaws in the marketing mix. although consumers may perceive a price as being higher than normal, they may buy the product anyway if it is sold at a convenient retail outlet.
True, an effective distribution network can overcome minor flaws in the marketing mix. although consumers may perceive a price as being higher than normal, they may buy the product anyway if it is sold at a convenient retail outlet.
Marketing is the term used to describe the activities a business engages in to encourage the purchase or sale of a good or service. Delivering goods to customers or other businesses includes marketing activities like advertising and sales. Affiliates will occasionally carry out marketing for a business.
A company's distribution strategy is crucial. Simply put, a strong distribution network gives a business a better chance of outselling rivals in terms of sales of its goods. For any kind of business or service, distribution is essential. Even the best-priced product, promotions, and people are useless if they cannot be purchased at locations where consumers can do so.
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a technology firm creates a group whose only purpose is to develop a pre-launch marketing strategy for a new product. the group will disband one month after the product is launched. this is an example of a(n) group.
A technology firm creates a group whose only purpose is to develop a pre-launch marketing strategy for a new product. the group will disband one month after the product is launched. this is an example of task group.
A marketing strategy is a company's overarching plan for reaching potential customers and converting them into buyers of their goods or services. A marketing strategy includes high-level components including the company's value proposition, important brand message, demographic information on the target market, etc.
The four Ps of marketing—product, pricing, location, and promotion—are all addressed in a comprehensive marketing strategy.
The company's value proposition, which informs customers of the company's mission, goals, and methods of operation, should be the focal point of a clear marketing strategy.
The marketing teams now have a framework to use for their projects including all of the company's goods and services.
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heterogeneity and the dynamic nature of labor markets are the principal causes of unemployment. multiple choice structural chronic none of the other answers are correct. cyclical frictional
Heterogeneity and the dynamic nature of labor markets are the principal causes of structural unemployment.
Workers are regularly coming and going from the labor force because there is so much variety in the labor market. For example, people retire every day and workers move from time to time, both of which are dynamic.
The main contributors to unemployment are heterogeneity and labor markets' dynamic nature. Circular frictional,
unemployment, the condition of one who is capable of working, actively seeking work, but unable to find any work. It is important to note that to be considered unemployed a person must be an active member of the labour force and in search of remunerative work.
A difference between the components that make up a whole is referred to as heterogeneity. The characteristic under examination is diverse when heterogeneity is present. The components of the whole are unique, not interchangeable. It is a crucial idea in both science and statistics. Contrary to homogeneity, heterogeneous is a state.
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when ebay and amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of .a) deregulationb) reverse auctioningc) reintermediationd) disintermediatione) diversificationanswer:
When ebay and amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of D) Diversification
The elimination of the bulk of middlemen who would typically take part in the exchange process by ebay and amazon.com is an example of. Reverse auctioning, deregulation, reintermediation, disintermediation, and diversification are some examples of strategies. answer:
The trading of stocks, bonds, commodities, options, and futures takes place on an exchange. Maintaining fairness and order among buyers and sellers, as well as effectively disseminating information regarding prices for any sort of security traded on that exchange, are the primary goals of an exchange.
A public open auction where real and personal property is bought and sold. Traditionally, the auctioneer will accept the highest (and final) bid after a series of increasing bids or proposals from prospective buyers (who is usually an agent of the seller).
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The aggregate quantity of goods and services demanded changes as the price level rises because.
The mixture amount of products and offerings demanded modifications because the fee degree falls because it results in a upward push in actual wealth, a fall in hobby fees.
The required details for hobby fees in given paragraph
An hobby fee is the quantity of hobby due consistent with duration, as a share of the quantity lent, deposited, or borrowed. The general hobby on an quantity lent or borrowed relies upon at the predominant sum, the hobby fee, the compounding frequency, and the period of time over which it's far lent, deposited, or borrowed. The annual hobby fee is the fee over a duration of 1 year. Other hobby fees practice over extraordinary periods, which include a month or a day, however they're usually annualized.
The hobby fee has been characterized as "an index of the preference . . . for a greenback of gift over a greenback of destiny income." The borrower wants, or needs, to have cash quicker as opposed to later, and is inclined to pay a fee—the hobby fee—for that privilege.
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consider the following costs and decision-making situations: i. the cost of existing inventory, in a keep vs. disposal decision. ii. the cost of special electrical wiring, in an equipment acquisition decision. iii. the salary of a supervisor who will be transferred elsewhere in the organization, in a department-closure decision. which of the above costs is (are) relevant to the decision situation noted?
ii. the cost of special electrical wiring, in an equipment acquisition decision of the above costs is (are) relevant to the decision situation noted.
System maximum generally refers to a set of equipment or other objects generally used to reap a specific goal. specific jobs require one-of-a-kind forms of system.
Equipment is a tangible lengthy-time period asset that advantages an enterprise over several years of use. computer systems, vehicles and production machinery are all examples of equipment. they may be tangible due to the fact they have got a physical shape—in contrast to intangible assets (along with patents, emblems or copyrights) that don't.
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x-mart purchased $300 of merchandise on account. demonstrate the journal entry to record this transaction, assuming the perpetual inventory system is used. multiple choice question.
The perpetual inventory system is used to record the transaction is debit merchandise inventory 300 and credit a/pay 300
Credit Purchases:When purchases are made on credit, the payment is remitted to a after date, but it's made incontinently when purchases are made for cash.
Simplifying :Under perpetual system, deals related to force are debited or credited to Merchandise Inventory( rather of using Purchase account, Purchase return & allowances, freight In, etc).
To record the transaction, the following journal entry will require in the book of X-Mart-
DEBIT Merchandise Inventory
$ 300
CREDIT Accounts Payable
$ 300 [because purchase is on account]
Merchandise inventory :Merchandise force is the cost of finished goods( COGS) that a retailer or wholesaler has available to vend to its guests during a given account period. For a bookstore, merchandise force would include the cost of the books or magazines it has for trade.
What's the journal entry for merchandise force?When companies vente merchandise force, the sale requires two journal entries the first entry records the profit from the trade at the selling price and the alternate entry decreases the force account and records the expenditure of the trade at cost.
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describe the keynesian transmission mechanism for a decrease in the money supply. assuming that no liquidity trap exists, that investment is interest-sensitive, and that the economy is in the horizontal portion of the as curve, what happens to real gdp and the price level? how can you tell if this is a direct transmission mechanism or an indirect one?
The Keynesian Transmission mechanism for a decrease in the money supply occurs in three steps -
First, there is a decrease in money which leads to a rise in interest rates as competition for loanable funds tightens up.
Second, the rise in interest rates, makes borrowing costlier. Some investments become less profitable and crowd out. Investment spending falls.
Finally, a fall in investment causes aggregate spending to fall. This results in a greater decrease in output through the multiplier effect.
Based on the given conditions, there is a horizontal AS curve. This means that we are in the very short run/Keynesian zone of AS curve. This is so because of the supply perfectly prices elastic.
This can be attributed to the fact that wages are completely rigid and prices do not adjust at all. So due to a decrease in money supply, AD decreases and shifts to the left from AD1 to AD2. This causes output to fall from Y1 to Y2 with no change in price. Real GDP falls. Prices are unchanged.
The transmission mechanism is indirect here because the change in money supply impacts aggregate demand through interest rates.
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list the 4 steps in the iddr systematic approach set out in the book for resolving business ethical dilemmas. why does this help or make more difficult reaching ethical outcomes?
The four steps in IDDR systematic approach for resolving business ethical dilemmas are Inquiry, discussion, decision, and review, all four steps helps narrow down the most ethical choice
An ethical problem, also known as a moral problem or ethical paradox, arises when a person must choose between two possibilities, none of which are wholly ethically acceptable. The majority of the ethical and moral issues we confront in life have quite simple solutions, despite the fact that we encounter many of them.
Since they frequently arise at work, ethical challenges are particularly important in professional life. Some businesses and professional associations (like CFA) follow their respective codes of conduct and moral principles.
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Consumers go through five stages in the process of adopting a new product. In the ________ stage, the consumer considers whether trying the new product makes sense.
Consumers go through five stages in the process of adopting a new product. In the evaluation stage, the consumer considers whether trying the new product makes sense.
What is evaluation stage?Product evaluation stage can be defined as the stage in which consumer tend to analyze and assess a product and then decide on whether to try the product or not.
Most consumer tend to evaluate a product before buying so as to prevent buying a product that they will not derived satisfaction from.
Therefore we can conclude that evaluation stage can triggers consumer to try a new product.
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Consumers go through five stages in the process of adopting a new product. In the product evaluation stage, the consumer considers whether trying the new product makes sense.
Who is a consumer?Consumers are the last people on the value chain of goods and services.
They are the one to receive the products and the one whom the a product is produced for.
Before a consumer could take or adopt a product, He would first evaluate the product bases on the importance or value provided.
Therefore, evaluation stage is when the consumer considers whether trying the new product makes sense.
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buyers believe they have been victims of discrimination from a real estate broker. the buyers filed a complaint, and the next step is that a) hud will begin an investigation. b) hud will take the broker's license until the case is settled. c) the broker is considered to be guilty and will be watched until the investigation is complete. d) the buyers must prove that the discrimination occurred to continue the investigation.
After filing a complaint, the next step will be a) HUD will begin an investigation.
The HUD is responsible for looking into matters that are related to real estate for the development of urban as well as rural areas.
The HUD not only helps in building communities but also looks after any complaints or problems that arise within the real estate.
In the scenario above, the victims have filed a case against a real estate broker and the case is related to real estate. Hence, in such a case, the investigation will be carried out by the HUD after a complaint has been filed.
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When you're , you're flexible and willing to change your mind or your direction when necessary.
rigid
adaptable
rude
humorous
Answer:
Rigid is the answer to the question
EXPLANATION
that was easy.
long-term investments are held for all of the following reasons except to a.reduce expenses b.stabilize the supply of resources c.meet current cash needs d.improve operations by making changes to management
Long-term investments are held for all of the following reasons except to meet the current cash needs.
The long-term investments tend to signify the long term benefits which await the investors. Here, their objective is not to sell the investments held in a short period but to only use them for future needs. Thus, like this it generates a steady amount of regular income for the company.
As the long-term investments are assets which a company intends to hold for more than a year, so this is the reason they cannot be met in order to fulfill the current cash needs.
Hence, option C is correct.
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you plan to sell some of your general motors common stock (which tends to move up and down with the economy as a whole) and replace it with the common stock of hercules gold mining, inc. (whose shares tend to rise when the economy falls and vice versa). your portfolio’s beta should:
Your portfolio’s beta should decrease when you plan to sell some of your general motors common stock and replace it with the common stock of hercules gold mining.
You intend to exchange some of your General Motors common stock, which fluctuates with the state of the economy as a whole, for common stock in Hercules Gold Mining Inc. (whose shares tend to rise when the economy falls and vice versa). The beta of your portfolio need to be.
An ongoing change is a fluctuation. The verb fluctuation has a noun form that means to alternately change or shift. The term "fluctuation" is most typically used to refer to abstract or intangible elements that change regularly, like temperature, the stock market, or someone's emotions.
A group of illustrations, paperwork, etc. that exhibits the creations of an individual, particularly an artist: To display her work during job interviews, she is attempting to compile a portfolio.
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If a 25% price increase for product a causes a 10% decrease in its quantity demanded, but no change in the quantity demanded for product b, what is the cross-price elasticity of these goods? round your answer to one decimal place.
The answer is 0, there you gooo. I can't really explain math.
The cost price of elasticity of goods is zero. Cost price is the complete sum of money that a manufacturer must spend to create a specific good or render a specific service.
What is cost price?
A cost price covers all expenditures necessary for production, including rent, materials, electricity, R&D, testing, worker salaries, and any other costs that must be covered.
The cost price of a product must be carefully calculated by the producer to prevent losing money on sales or not being profitable enough. Setting subsequent pricing in a realistic manner requires meticulous accounting and careful consideration.
All expenditures are included in the cost, a figure for contingency may also be included in the cost price.
Therefore, The cost price of elasticity of goods is zero. Cost price is the complete sum of money that a manufacturer must spend to create a specific good or render a specific service.
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Though data collected at the checkout counter of a grocery store are primarily used for sales and inventory records, this data can also be used to study how consumers shop. This latter use is an example of ______ data.
Based on the fact that the data can be used to study the way customers shop, this latter use is an example of internal secondary data.
What is internal secondary data?Secondary data on its own, refers to when data is used by a person or entity that was not the one who gathered it, or when data is used for a purpose other than what it was gathered for.
An internal secondary data would be data that is gathered by a company for one reason, and then used for another. This is why using the data for sales and inventory records to study consumer shopping patterns, makes it internal secondary data.
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when should a firm consider expanding from strictly domestic trade to international trade to international trade? when should it consider becoming further involved in international trade? what factors might affect this firm's decisions in each case?
After the domestic market has reached saturation, it is necessary to expand abroad in order to take advantage. Factors include social and cultural distinctions.
When a domestic trading company wishes to access new markets and when its current local market is saturated with its products and other homogeneous goods, it should think about expanding into international trade.
A business can typically start increasing its scope for international trade when it starts to receive significant foreign recommendations and requests.
Also, some of the factors that might affect them includes operation cost, trade barrier, competitors etc, in the international market etc. Additionally, there are a number of elements that could have an impact on them, such as the cost of operations, trade barriers, competitors, etc. on the global market.
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