Receiving involves B. inspection, physical handling of goods and approval of payment to the supplier.
What happens at the receive stage ?Receiving is a crucial phase in the purchase process and the first step in the internal supply chain. It stands for the point in the supply chain where the buying company accepts responsibility for the goods and the contract with the supplier is closed. Additionally, it entails information processing, actual handling of the items, and inspection.
The process of inspecting supplies or new stock that has been delivered to the company is known as "goods receiving." Any arriving items must be examined for quality, quantity, and condition before being assigned to a place in the warehouse.
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(T/F) Scenario analysis can help us anticipate possible changes so we can most likely prevent them from happening.
Scenario analysis can help us anticipate possible changes so we can most likely prevent them from happening. - False
Scenario analysis is a tool that helps organizations anticipate and prepare for potential changes in the future. It involves developing and analyzing a range of possible scenarios or outcomes that could arise from different combinations of factors, like economic trends, technological developments, political events, and environmental changes.
The analysis does not necessarily help to prevent changes from happening, but it can help to be more resilient and adaptable when changes do occur. By considering a range of possible futures, organizations can better understand the implications of different scenarios and take proactive steps to mitigate potential risks and seize opportunities.
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at april 30 marigold ocmpany has the following bank information cash balance per bank 2240 outstanding checks 393 deposits in transit 288. What is Kessler's adjusted cash balance on April 30?
When there is credit balance in the cash account, a company can record a negative cash position on its balance sheet.
What do deposits in banks mean?Customers who want to maintain a particular amount of cash in a bank for a specific duration of time can use bank deposits, a sort of savings product. Regardless on the amount and for how long the customer decides to deposit, the banking company will provide the client with the necessary interest as recompense.
How is a deposit account classified?A customer can make deposits and withdraw funds from a deposit account, which is a bank account kept by a financial institution. Savings accounts, current accounts, or any of the other types of accounts listed below can be deposit accounts.
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a bank will consider a car loan to a customer and a customer's checking account to be .
A bank will consider a car loan to a customer as an asset and a customer's checking account to be a liability.
What is an asset?In finance, asset mean the resource with economic value that an individual or corporation owns or controls with the expectation that it will provide a future benefit. They are reported on a company's balance sheet and classified as current, fixed, financial, and intangible.
Asset are bought to increase a firm's value or benefit the firm's operations. It is something that can generate cash flow, reduce expenses, or improve sales regardless of whether it's manufacturing equipment or a patent.
What is a liability?In finance, liability mean a person or company owes usually a sum of money. It is settled over time through the transfer of economic benefits including money, goods, or services. It is recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.
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the ferguson company estimated that october sales would be 126,000 units with an average selling price of $8.60. actual sales for october were 131,000 units, and average selling price was $8.55. the sales volume variance was: multiple choice $43,000 favorable. $42,750 unfavorable. $43,000 unfavorable. $42,750 favorable.
According to the given situation in the question the sales volume variance was $6550. Unfavourable
What does a variance mean in plain English?The spread between the numbers in a data collection is the simplest definition of variance. Each number's variance, or distance from the average and from all other numbers in the set, is measured statistically.
Briefing:Variance = (budgeted selling price - actual selling price) X actual units sold
Variance = (8.60 - 8.55) * 131,000 = $6550.Unfavourable
as if the budgeted price was charged it would result in higher revenue at the current level of activity.
The sales volume variance on the other hand is favourable as more units were sold than budgeted.
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if the entrepreneur fails to pay the loan, that collateral is given up or surrendered to satisfy payment of the debt.
The statement " if the entrepreneur fails to pay the loan, that collateral is given up or surrendered to satisfy payment of the debt." is true.
Give a brief account on collateral.Often, the sort of loan will predetermine the kind of collateral. Your home becomes the security for a mortgage when you apply. When you take out a car loan, the vehicle serves as collateral. Cars, provided they are fully paid off, bank savings deposits, and investment accounts are among the main forms of collateral that lenders accept. Retirement savings are rarely accepted as security.
Not only from payday lenders, but for other types of extremely short-term loans as well. Such loans are provided by conventional banks; the periods are often no more than a few weeks. Even in cases of true emergencies, you should carefully read the tiny print and compare rates. These short-term loans are an option.
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________ is the practice of charging a higher price for the same product or service when demand approaches the physical limit of the capacity to produce that product or service.
A) Price discrimination
B) Peak-load pricing
C) Demand-based pricing
D) Customer preference pricing
Peak -load pricing is the practice of charging a higher price for the same product or service when demand approaches the physical limit of the capacity to produce that product or service.
Peak-load pricing is a form of congestion pricing where customers pay an additional fee during periods of high demand. Utility providers, which impose higher prices during periods of the year when demand is at its highest, are the ones that employ peak pricing the most frequently.
Peak pricing's main goal is to control demand so that it stays within a reasonable range of what can be provided.
Peak pricing refers to a system in which the cost of an item or service is not fixed at one price but instead varies depending on the situation, such as seasonal fluctuations in demand, the target market, or shifting economic conditions. If peak demand periods are not properly handled, demand may greatly exceed supply.
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Match the key terms with their definitions. Write the key term letter by the appropriate numbered definition. A productivity software suite including a set of software applications, each one specializing in a type of output. The Iong bar located just beneath the title bar containing tabs, groups, and commands. A custom program or additional command that extends the functionality of a Microsoft Office program. A collection of design choices that includes colors, fonts, and special effects used to give a consistent look to a document, workbook, or presentation. A data element or metadata that is added as a document property. A component of Office that provides a concise collection of commands related to an open file and includes save and print options. A tool that displays near selected text that contains formatting commands. Relational database software used to store data and convert it into information. A feature in a document that consists of one or more lines at the bottom of each page. A predesigned file that incorporates formatting elements, such as a theme and layouts, and may include content that can be modified. A feature that enables you to search for help and information about a command or task you want to perform and will also present you with a shortcut directly t that command. A tool that copies all formatting from one area to another. Stores up to 24 cut or copied selections for use later in your computing session. A task-oriented section of a ribbon tab that contains related commands. An online app used to store, access, and share files and folders. Provides handy access to commonly executed tasks, such as saving a file and undoing recent actions. The Iong bar at the bottom of the screen that houses the Zoom slider and various View buttons. The area of blank space that displays to the left, right, top, and bottom of a document or worksheet. A technology used to store files and to work with programs that are stored in a central location on the Internet. A feature in a document that consists of one or more lines at the top of each page. or presentation.
Productivity software program is a class of application applications that assist users produce matters such as documents, databases, graphs, spreadsheets and presentations. Productivity software will increase effectivity by using facilitating people's tasks.
What are the four most common kinds of productiveness software?Common kinds of productivity software include database management structures (DBMS), word processors, spreadsheet applications, and graphics software.
What is productiveness software program software for language educating and learning?Productivity software is a device such as Excel, PowerPoint, Word, Kid Pix, publisher, and many more. These packages beautify a teacher's lesson diagram and allow the teacher to take their students beyond textbooks and boring lectures.
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2.An advertising company wishes to plan its advertising strategy in three different media – television, radio and magazines. The purpose of advertising is to reach as large a number of potential customers as possible. Following data has been obtained from market survey:
Television Radio Magazine I Magazine II
Cost of an advertising per unit Br30,000 Br20,000 Br15,000 Br10,000
No. of potential customers reached per unit 200,000 600,000 150,000 100,000
No. of female customers reached per unit 150,000 400,000 70,000 50,000
The company wants to spend no more than br450, 000 on advertising. Following are the further requirements that must be met:
(i) at least 1million exposures take place among female customers
(ii) advertising on magazines be limited to br150,000
(iii) at least 3 advertising units be bought on magazine I and 2 units on magazine II and
(iv) the number of advertising units on television and radio should each be between 5 and 10
Formulate an LPM for the problem
Answer:
Explanation:
According to the conditions mentioned in the question following LPM can be used
Conditions Satisfied
1. At least 1 million exposure is there for female customers
2. Advertising on magazines has been limited to br15,0,000
3. 3 advertising units of magazine 1 and 2 units of magazine 2 has been used
4. The units of advertisement TV and Radio has been used for 5 units each
Number of units for advertisement
TV= 4 units
Radio= 5 units
Magazine1= 3 units
Magazine2= 2 units
Cost for advertisement according to number of units for advertisement
TV= br30,000*5 units=br1,50,000
Radio= br20,000*5 units=br100,000
Magazine1= br15,000*3 units=br45,000
Magazine2= br10,000*2 units=br20,000
Total Cost= br 3,15,000
Number of female customers reached
TV=1,50,000*5=7,50,000
Radio=4,00,000*5=20,00,000
Magazine1=70,000*3=2,10,000
Magazine2=50,000*2=1,00,000
Total customers reached= 30,60,000
Equal opportunity laws
regulate employee rights to a safe work environment and reasonable minimum wage
regulate employee rights to medical services and compensation resulting from job-related injuries
require employers and employees to contribute to the Social Security fund
require employers to disregard gender, race, and ethnicity during the hiring process
Equal opportunity laws regulate employee rights to a safe work environment and reasonable minimum wage.
What is Equal opportunity laws?
Laws governing equal employment opportunities (EEO) forbid some forms of job discrimination in particular workplaces. The Civil Rights Center and the Office of Federal Contract Compliance Programs are two U.S. Department of Labor (DOL) organizations that deal with EEO monitoring and enforcement.
EEO is monitored in programs and initiatives receiving federal funding by the Civil Rights Center. Equal opportunity is likewise guaranteed by CRC for all DOL candidates and employees.
Employers with federal contracts and subcontracts are regulated by the Office of Federal Contract Compliance Programs.
The Equal Employment Opportunity Commission (EEOC) is an independent federal organization that works to advance equal opportunity in the workplace by enforcing federal civil rights laws administratively and legally, as well as by providing information and technical support.
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A backward pass through a network is used to determine the earliest start and finish times for each project activity. t/f
This claim is untrue. The earliest start and finish times for each project activity are determined without performing a backward transit over the network.
How are the early start and early end times decided upon?In other words, the Early Start (ES) position of the first activity is set to zero when the calculation begins. To do the remaining calculations, apply the following formulas: Highest (or Maximum) EF value from the most recent Predecessor equals an early start (s) ES plus Duration equals an early finish.
What do the terms "early start" and "early end" in project management mean?Early Start: When an activity can start as soon as possible. The earliest time a particular activity can finish. The latest time that a task can start. the earliest time a particular activity can finish.
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The tax multiplier is smaller in absolute value than the government purchases multiplier because some portion of theA) decrease in taxes will be saved by households and not spent, and some portion will be spent on imported goods.B) decrease in taxes will be saved by households and not spent, and some portion will be spent on consumer durable goods.C) increase in government purchases will be saved by households and not spent, and some portion will be spent on imported goods.D) increase in government purchases will be saved by households and not spent, and some portion will be spent on consumer durable goods.
Decrease in taxes will be saved by households and not spent, and some portion will be spent on imported goods is the correct statement.
What is tax ?A tax is a monetary fee or other levy that a state, or its functional equivalent, such as a local government, imposes on taxpayers to pay for various public expenses. Tax evasion or resistance is against the law, as is failing to pay taxes.Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect. The tax system can be divided into direct and indirect taxes. Direct taxes are levied on the income or wealth of households or businesses. These taxes are paid directly to the government by the taxpayer. Examples of direct taxes include personal income tax, corporate income tax, and property tax.To learn more about tax refer :
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QUESTION 24 Layla runs a startup that makes custom engraved floor tiles. Her business is growing rapidly and she needs a cloud vendor to provide her with an operating system and a database management system. In this scenario, which of the following services will the vendor provide? a. Paas b. laaS c. Web hosting d. VPN e. CDN
In the scenario that we have here the type of service that the vendor will provide is called the PaaS. Option A
What is meant by PaaS?This is a service platform. Platform as a Service (PaaS) is a full-featured cloud development and deployment environment that has the tools you need to produce everything from basic cloud-based apps to complex corporate applications.
Offers you with computer platforms, which typically contain an operating system, an environment for executing programming languages, a database, a web server, etc. Examples include Windows Azure, Go.ogle App Engine, Heroku, Force.com, AWS Elastic Beanstalk, and Apache Stratos.
Platform as a Service (PaaS) is a full-featured cloud environment that has all the servers, operating systems, networking, storage, middleware, tools, and other components that developers need to create, run, and maintain applications.
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if a bank has actual reserves of $110,000, checkable deposits of $100,000 and a reserve ratio of 20%, its excess reserves are ________
if a bank has actual reserves of $110,000, checkable deposits of $100,000 and a reserve ratio of 20%, its excess reserves are 90,000.
What is reserve ratio?The reserve ratio is the portion of reservable liabilities that commercial banks must hold onto, rather than lend out or invest. This is a requirement determined by the country's central bank, which in the United States is the Federal Reserve. It is also known as the cash reserve ratio.The minimum amount of reserves that a bank must hold on to is referred to as the reserve requirement, and is sometimes used synonymously with the reserve ratio. The reserve ratio is specified by the Federal Reserve Board’s Regulation D. Regulation D created a set of uniform reserve requirements for all depository institutions with transaction accounts, and requires banks to provide regular reports to the Federal Reserve.To learn more about Regulation refer to:
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you are analyzing the cost of debt for a firm. you know that the firm's 14-year maturity, 7.8 percent coupon bonds are selling at a price of $1,052.38. the bonds pay interest semiannually. if these bonds are the only debt outstanding for the firm, answer the following questions.
Debt cost after tax amounts 8.75%. If the company's only outstanding debt is these bonds.
What is a cost, exactly?Cost is the sum of money spent by a business to produce or create goods or services. It excludes the overall profit markup. Cost is the sum of revenue spent on making a good or product, viewed from the seller's view.
Briefing:
Find the YTM which is the pretax cost of debt.
Using a financial calculator, input the following and adjust the coupon payment, time and interest rate to semi-annual basis.
Maturity of the bond; N= 14*2=28
Face value : FV = 1000
Price of the bond ; PV =$1,052.38
Semiannual Coupon payment; PMT = semiannual coupon rate* Face value
Semiannual Coupon payment; PMT = (7.8%/2)*1000 = 39
then compute the semiannual rate; CPT I/Y = 6.25%
Annual rate; YTM ; pretax cost of debt = 6.25*2 = 12.5%
Next, find after tax cost of debt;
After tax cost of debt = pretax cost of debt (1-tax)
= 0.125 (1 -0.30)
= 0.0875 or 8.75% as a percentage
Therefore; after tax cost of debt = 8.75%
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deacon inc. experienced the following transactions during year 1, its first year in operation. issued common stock for $12,000 cash. provided $4,600 of services on account. paid $3,200 cash for operating expenses. collected $3,800 of cash from customers in partial settlement of its accounts receivable. paid a $200 cash dividend to stockholders. The amount of net cash flow from operating activities shown on deacon Company's Year 1 statement of cash flows is
The amount of net cash flow from operating activities shown on deacon Company's Year 1 statement of cash flows is 600
How to calculate net cash flow ?Cash flow is a metric for how much money a company earned or spent overall during a given period of time. On the statement of cash flows, a common financial statement, cash flow is often divided into cash flow from operating operations, cash flow from investing activities, and cash flow from financing activities.
Spending that occurs in the normal course of business is included in cash flow from operations. Payroll, the cost of items sold, rent, and utility bills are a few examples of these cash outflows. When corporate operations are very seasonal, cash outflows might vary greatly.
Given,
$3,800 of cash from customers
$3,200 cash for operating expenses.
$3,800 cash collected from revenue − $3,200 cash paid for expenses = $600 cash flow from operating activities
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attacks require adversaries to send packets to a known service on the intermediary with a spoofed source address of the actual target system whereas
In reflection attacks require adversaries to send packets to a known service on the intermediary with a spoofed source address of the actual target system.
What in marketing terms is a direct attack?a frontal assault
This is a frontal assault that draws on the strength of the opponents. Typically, the attack is carried out by providing clients with reduced prices, better products, aggressive advertising, or improved service quality. This kind of attack is dangerous because losing will harm your business's reputation, clients, and sales.
How does reflection attack work?In a reflection attack, the attacker sends a request for information, typically using the User Datagram Protocol (UDP) or, in some cases, the Transmission Control Protocol, while impersonating the target's IP address (TCP). The server then replies to the request by delivering a response to the IP address of the destination.
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In which of the following ways will increases in short-run aggregate supply change the price level and unemployment?
Price Level Unemployment
A. Increase No change
B. Decrease Decrease
C. Decrease Increase
D. Decrease No change
E. No change Increase
Short-run aggregate supply changes the price level and unemployment, Price Level Unemployment. Decrease Decrease. Option B
What is Short-run aggregate supply?Generally, Important word. A graphical model that illustrates the positive link between the aggregate price level and the quantity of aggregate production delivered in an economy is referred to as a short-run aggregate supply (SRAS) model.
In the short term, the aggregate supply reacts to greater demand (and prices) by raising the amount of already used inputs in the manufacturing process.
This is done in order to maximize output. In the short term, the level of capital is fixed, which means that a corporation cannot, for instance, establish a new plant or adopt new technology in order to boost production efficiency. In other words, the level of capital cannot rise.
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a quantitative rule of thumb for keep-versus-drop decisions is that any fixed costs avoided by dropping a product line or closing a business segment should be larger than
A quantitative rule of thumb for keep-versus-drop decisions is that any fixed costs avoided by dropping a product line or closing a business segment should be larger than the contribution margin given up.
(contribution margin = revenues - variable costs)
How does differential analysis help in making decisions about maintaining or discontinuing product lines?
To decide whether to retain a customer or let them go, managers employ differential analysis. Making decisions about a product line is done in a format analogous to that used for differential analysis. While product lines are not directly linked to sales income, variable costs, or fixed costs, they are.
When deciding whether to preserve a product line or shut down a company division, a quantitative rule of thumb is that any fixed expenses saved by doing so should be greater than the contribution margin lost.
Therefore, product lines are not directly linked to sales income, variable costs, or fixed costs.
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Which of these are advantages of centralized management using directory services? Check all that apply.Role based access can organize user group centrallyconfig management is centralizedaccess and authorization are managed in one place
Centralized Management, which depends on Application® directory services, offers a strong and affordable way to manage server and user policy.
What are the benefits of the advantages?The relevance of a service and how it solves a problem are typically explained in practical, physical, or verifiable terms by advantages. Advantages, on the other hand, are subjective and appeal to the emotions or sufferings of the prospect. In sum, benefits are significant because they matter, and advantages are important because they matter.
Is benefit the same as advantage?A benefit for society is anything that advances the welfare or enhances the condition of an individual or group. Advantage is anything that puts one in a better position, particularly when dealing with competition or challenges: It
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Rose Bush Nursery purchased a delivery truck for $27,000. The truck is expected to have a useful life of 4 years and a residual value of $1,080. If the truck was purchased on June 1, 2013, what is the amount of depreciation expense for the truck for the year ended December 31, 2013?
$3,780
$1,080
$6,480
$3,240
The amount of depreciation expense for the truck for the year ended December 31, 2013 will be $3,780 if it has a residual value of $1,080.
What is residual value?The estimated value of a fixed asset at the conclusion of its useful life or lease term is known as the residual value, sometimes known as salvage value. In lease agreements, one of the lessor's main methodologies for figuring out how much the lessee must pay in periodic lease payments is the residual value. One of the components of a lease calculus or operation is residual value. It expresses the absolute future value of a good in monetary terms, and it is occasionally expressed as a percentage of the original purchase price. An automobile is sold today for the list price of $20,000.
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T/F: Buyers of a particular new car model are being offered zero-percent financing. This is an example of a promotional allowance.
It is true that buyers of a particular new car model are being offered zero-percent financing. This is an example of a promotional allowance.
A price cut or discount given by a manufacturer to a representative of the marketing channel in exchange for unique product promotion.
The term "promotional allowances" refers to the retail value of any complementary goods or services given to customers, including but not limited to lodging, food, drinks, merchandise, chips, tokens, entertainment, and other services.
Discounts are the term for incentives used to encourage sales, whereas allowances are the term for incentives used to encourage payments (which apply only to purchases made on credit). Retail and wholesale businesses employ discounts most frequently (for instance, when a store has a 10% off sale). A marketing cooperative allowance or promotional allowance are other names for an advertising stipend. A strategy like this is an economical way to assist producers, distributors, wholesalers, etc.
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money market mutual fund balances held by businesses $100 money market mutual fund balances held by individuals 220 currency in banks 10 currency in circulation 60 savings deposits, including money market deposit accounts 50 large-denominated ($100,000 or more) time deposits 180 small-denominated ($100,000 or less) time deposits 80 checkable deposits 80 refer to the table. money supply m2 for this economy is multiple choice $80. $500. $60. $490.
In the given case, the money supply M2 for this economy is $ 490. Money supply is calculated as MS = MB x MM. The correct option is (D).
What do you mean by the money supply?The total amount of money—cash, coins, and balances in bank accounts—in circulation is known as the money supply.
The money supply is typically understood as a collection of secure assets that individuals, businesses, and governments can use to make payments or hold as short-term investments.
In conclusion, the money supply is crucial because inflation will occur if it increases faster than the economy's capacity to generate goods and services.
Here,
M1 = Currency in Circulation + checkable deposits
M1 = 60 + 80
M1 = 140
M2 = M1 + time deposits(small - denominated) + savings deposits + money market funds held by individuals
M2 = 140 + 80 + 50 + 220
M2 = 490
Therefore, in the given case, the money supply M2 for this economy is $ 490. Money supply is calculated as MS = MB x MM.
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The calculation by the Fed of M1 and M2 denotes the amount of _______________ (nearly cash equivalent) available in the economy.
Money is measured with many definitions: money supply includes currency and cash in checking accounts (demand deposits). Traveler's checks are a part of the money supply, however, area units declining in use. M2 includes all of the money supply, savings deposits, time deposits like certificates of deposit, and securities industry funds.
M2 = money supply + Savings deposits of post-workplace savings banks. money supply = Currency with public + Demand deposits with the banking industry (savings account, current account). You'll be able to examine the money offered in the Economy – kinds of cash, financial Aggregates, and pecuniary resource management within the given link.
The smallest and most capacity measure, M0, is strictly currency in circulation and cash being unbroken by banks in reserves; therefore, M0 is commonly observed because of the "monetary base." money supply is outlined as all of M0 and the remaining demand deposits.
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the marginal product of labor is the: change in average product divided by the change in the quantity of labor. change in labor divided by the change in total product. change in total product divided by the change in labor. inverse of the slope of the total product of labor curve.
Its marginal product of labour, also known as MPL, is the rise in total production that a company experiences when one extra unit of labour (often one additional employee) is added while all other production-related factors stay constant.
What, in plain English, is marginal production?If all other units remain constant, margin production is the allowing greater that a business produces simply adding one additional labour unit. You can enhance the quantity of product you create by introducing new factors of production.
What is AP Economics' marginal product?The amount of total output created by each extra input unit used in the manufacturing process is known as the marginal product, or MP. To determine this, divide the change in the finished product by the increase in the inputs. Increasing Marginal Returns: Each new variable input produces greater output than the previous one.
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Wealth equals:
A. current income minus spending on current needs.
B. assets minus liabilities.
C. saving minus investment.
D. investment minus saving.
Answer : B. assets minus liabilities.
Wealth equals assets minus liabilities.
Wealth is often measured by the value of a person's assets, such as cash, investments, and property, minus their liabilities, which are their debts and financial obligations. This calculation can give a rough idea of a person's net worth, or the amount of money they would have if they sold all their assets and paid off all their debts.
However, wealth is a complex concept that can also be influenced by other factors, such as a person's income, education, and skills, as well as the overall economic conditions in which they live. Thus, Wealth is the profusion of priceless material or financial things that can be transformed into a form usable for commerce.
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* Global sourcing: a business purchases materials, manufacturing components, or services from around the world, taking advantage of international wage gaps by contracting low-cost goods and services in foreign locations.
Global sourcing is a business technique in which a corporation contracts for low-cost goods and services in other countries, taking advantage of pay differences across borders.
What is the key benefit of global sourcing?One of the key benefits of global sourcing is cost reduction. Particularly in low-cost areas, many overseas suppliers and manufacturers provide their services at a competitive rate. Businesses can frequently purchase things at a cheaper unit cost because manufacturing costs are typically lower.
How might sourcing strategies raise productivity?The study discovered that strategic sourcing helps the organization to focus on its core functions that help the firm gain strategic advantage while also acting as a mechanism by which business conditions or problems are alleviated in a manner that is more efficient or effective.
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Keep-Or-Drop Decision, Alternatives, Relevant Costs
Reshier Company makes three types of rug shampooers. Model 1 is the basic model rented through hardware stores and supermarkets. Model 2 is a more advanced model with both dry-and wet-vacuuming capabilities. Model 3 is the heavy-duty riding shampooer sold to hotels and convention centers. A segmented income statement is shown below.Model 1 Model 2 Model 3 Total
Sales $270,000 $598,000 $606,500 $1,474,500 Less variable costs of goods sold (89,500) (163,640) (352,800) (605,940) Less commissions (6,000) (27,500) (20,250) (53,750) Contribution margin $174,500 $406,860 $233,450 $814,810 Less common fixed expenses: Fixed factory overhead (410,000) Fixed selling and administrative (299,000) Operating income $105,810 While all models have positive contribution margins, Reshier Company is concerned because operating income is less than 10 percent of sales and is low for this type of company. The company’s controller gathered additional information on fixed costs to see why they were so high. The following information on activities and drivers was gathered:
Driver Usage by Model
Activity Activity Cost Activity Driver Model 1 Model 2 Model 3
Engineering $76,000 Engineering hours 710 71 219 Setting up 177,000 Setup hours 12,300 12,700 29,219 Customer service 112,000 Service calls 14,300 1,580 19,219 In addition, Model 1 requires the rental of specialized equipment costing $25,000 per year.
1. Reformulate the segmented income statement using the additional information on activities. Use a minus sign to indicate any negative margins. Do NOT round interim calculations and, if required, round your answer to the nearest dollar.
Reshier Company
Segmented Income Statement
Model 1
Model 2
Model 3
Total
$
$
$
$
Contribution margin
$
$
$
$
Less traceable fixed expenses:
Product margin
$
$
$
$
Less common fixed expenses:
Operating income
$
The amount that has been added to the dropping model is $31,547.
Here we have given that Reshier Company makes three types of rug shampooers.
And we need to find the amount added to the dropping model.
While we are looking into the given question, we have identified the value of each of the department expenses as,
=> Engineering rate = $86,000 ÷ (730 + 76+ 194) = $86
=> Setting up = $196,000 ÷ (12,100+ 13,200 + 29,179) = $3.5977
=> Customer Service = $100,000 ÷ (13,400 + 1,480+ 19,179) = $2.9360
=> Fixed factory overhead = $385,000 - 86,000-195,999 - 22,000 = $81,001
=> Selling and administrative expenses= $307,000 - 99,997 = $207,003
Now, we have to reformulated income statement suggests that the profit of model 1 is negative, then the company can choose either model 2 or 3. Therefore, the product margin of model 2 is maximum, choosing model 2 will be more cost effective,
Then the Dropping model 1 will add $31,547 to the operating income.
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At the BMW plant in Spartanburg, South Carolina, rather than use a typical order-to-delivery process, it has suppliers deliver parts every four hours when the plant is in operation. BMW uses a(n) ______ inventory control system.just-in-time (JIT)
Suppliers can place orders for raw materials that are directly in line with production schedules using a Just-in-time (JIT) inventory system.
What is Just-in-time (JIT) inventory system?In order to ensure that raw materials arrive exactly when manufacturing is meant to begin, but not sooner, JIT is a sort of inventory management that necessitates careful cooperation with suppliers. Just enough inventory must be kept on hand to satisfy demand.
Advantages of JIT Inventory ManagementReduce Obsolete Inventory and Dead StockReduce Defective Product LossImproved EfficiencyRaise Inventory Turnover RatiosMinimal Inventory ObsolescenceMinimize Raw Materials on HandLocal SourcingGreater ProductivityFaster Product TurnaroundShorter Production RunsJIT inventory methodologyThe JIT inventory methodology uses a wide range of techniques to streamline processes. Small lot sizes, precision-focused attention, enhanced openness, support for cell production, and a pull (rather than push) strategy are all hallmarks of lean manufacturing.
Among the methods employed by JIT Technology are;
Maintain order by exercising tight organisational and physical restraint. Better Quality: Eliminate defects by focusing on the details and making continuous improvements. Reduced Setup Time: Create flexible changeover plans for situations where configurations need to vary to meet client demands. Small Lot Size: For JIT, one is the ideal lot size. The small size reduces hauling expenses, in-process inventory, and storage space while facilitating simple inspection and rework. A control strategy called levelling establishes a regular, level routine during the day. Flowing in harmony: Flow scheduling creates throughput strategies for an equitable labour and energy allocation. Diversified Skills: In order to maintain production, personnel with a variety of skill sets may be used.By using communication tools like those in Kanban, the entire team is kept up to date on inventory levels. The secret is to be seen.JIT inventory control system in BMWBecause BMW uses JIT inventory management, they run the danger of having production halted due to a shortage of inputs. In order to meet demand and minimise the risk brought on by supply dependencies, BMW establishes strategic connections with industry suppliers. This shows how much more dependent BMW is on its partner supplier.
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T/F. flow time depends not only on the actual time to perform the tasks required, but also on how many other entities are in the work-in-process stage.
"Flow time depends not only on the actual time to perform the tasks required, but also on how many other entities are in the work-in-process stage." is True Option A
What is the work-in-process stage??Generally, These are items for sale that are presented through one or more stages of the production process. Due to the fact that they are in an incomplete condition, you are unable to sell them. You should consider anything to be in the process of being worked on after it has been touched by human hands. Finished Goods are the items that have undergone their final assembly and are now ready to be sold.
Flow time, also known as cycle time, is the time it takes for a product or service to be completed from start to finish. It is affected by the actual time required to perform the tasks involved in the process, as well as the number of other entities that are in the work-in-process (WIP) stage at the same time.
If there are many other entities in the WIP stage, it can increase the flow time because it may take longer to complete the tasks, as resources may be stretched thin and there may be more competition for those resources.
On the other hand, if there are fewer entities in the WIP stage, it may take less time to complete the tasks, resulting in a shorter flow time.
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CH2MHill employees are evaluated against ________ to determine performance, which the chapters states is an important part of employees maintaining their ______________.atheir potential; authoritybperformance of other employees; chain of commandcgoals and objectives; accountabilitydprevious performance data; accountabilityetheir core competencies; authority
Hill employees are evaluated against previous performance data to determine performance, which the chapters states is an important part of employees maintaining their accountability. Option D
What is meant by workers performance evaluation?Organizations use employee performance evaluations, commonly referred to as "performance reviews," to provide employees with feedback on their job performance and formally record that performance. Although each company sets its own evaluation cycles, the majority of them carry out annual employee performance reviews.
A periodical examination and review of an employee's performance at work is known as an employee performance evaluation. Normally, managers carry out a thorough performance evaluation once a year with ongoing follow-ups.
Employee performance evaluation makes clear to staff what management's goals and objectives are. They learn that their efforts are being assessed and valued. For the benefit of the company as a whole as well as them, it's critical to maintain high performance.
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