A consumer's optimal choice when buying a flat-screen TV: Microeconomics. The government's decision on how much to spend on public projects: Macroeconomics.
The effect of an increase in consumer income on demand for smart phones: Microeconomics. The effect of an increase in the interest rate on the stock market: Macroeconomics. The interest rate on the stock market varies depending on the type of security and the market conditions.
Generally speaking, stocks tend to offer higher returns than bonds, but the rate of return can vary depending on the individual stock and market conditions. Additionally, some stocks may pay dividends which can also affect the rate of return.
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Case Study In 2002, Markus Braun, a German entrepreneur, joined Wirecard, a small financial technology company which, at that time, was on the brink of Collapsing. Mr. Braun built up Wirecard, and in 2005, the company was listed on the Frankfurt Stock Exchange By 2008, questions were raised about Wirecard's finances. Wirecard's 2007 consolidated paccounts were said to be incomplete and misleading, Wirecard hired Ernst & Young (EY) to audit their books, and the company found no Irregularities. The company continued to grow, getting 500 million euros from shareholders. It also bought up small companies in Asia, which made its share price go up, Apparently, Wirecard set up escrow accounts through the small businesses it acquired. This allowed the company to do business in countries where it didn't have a license. These companies supposedly brought Wirecard a large amount of its revenue and profit over the years, but those funds may never have existed, despite the fact that they were supposed to be deposited into escrow accounts In 2015, Wirecard bought an Indian payments business for 340 milion euros. At the same time, Capital Research put out a report saying that Wirecard's Asia Investments were smaller than the company was reporting, Wirecard sald that short sellers had requested and paid for that report But in 2016, the Financial Times also started asking questions about Wirecard. The Journalists who wrote these stories reported that Wirecard harassed them in numerous ways, from phishing emails to threats of making police complaints. But all through this time, Wirecard was becoming bigger and bigger, eventually gaining a place in the DAX Index, a stock Index representing the 30 largest companies in the German stock market In 2020, Wirecard hired KPMG to auditits books after delaying the 2019 annual report from Ey. That audit reported that the company was unable to prove that 1 billion euros of revenue existed. By July of 2020, Wirecard had fled for insolvency, and Markus Braun was arrested on charges that his company had defrauded Investors of 3.7 billion dollars Sources: Ewing, Wirecard Ex-CEO Arrested on New Charges of Defrauding Banks, New York Times. Retrieved from https://www.ytimes.com/2020/07/22/business/wirecard-ex-ce-arrested html Alderman, Ly Scheutre, C. In a German Tech Giants Fall, Charges of Les Sples, and Missing Millions New York Times. Retrieved from https://www.nytimes.com/2020/06/26/business/wirecard collapse markus-braunit Case Activity: Chapter 07: Planning and Goal Setting Suppose that Markus Braun wanted to have Wirecard be worth 5 billion euros by the end of 2022. He wants to create a plan to accomplish this outcome. What should be his first step in creating that plan? O Plan operations Develop the plan Execute the plan Translate the plan Select the best strategic goal for Wirecard. Increase sales by 5% and ROI by 10% in the next year, Improve our reputation on the German stock market Acquire 5 new Aslan financial technical firms by June, 2030 Do business in at least 10 new countries Which of the following is a limitation of the planning process at Wirecard? Check all that apply. Goals and plans can derail innovation and creativity, Goals and plans help employees understand what behaviors are needed at work. Goals can make managers think they know what the future will be like, even when they don't. Employees may find that the pressure created by goals is too much for them to handle.
To create a plan to accomplish the outcome of having Wirecard be worth 5 billion euros by the end of 2022, Markus Braun's first step should be to "Translate the plan".
What does it mean to translate the plan?This involves taking the strategic goal of reaching 5 billion euros in worth and breaking it down into specific objectives and action steps that can be taken to achieve that goal.
The best strategic goal for Wirecard would be to "Increase sales by 5% and ROI by 10% in the next year". This goal is specific, measurable, achievable, relevant, and time-bound (SMART), and it aligns with the overall objective of increasing the company's worth.
The limitations of the planning process at Wirecard include:
Goals and plans can derail innovation and creativity: When employees are solely focused on achieving specific goals, they may be less likely to explore new ideas or take risks that could lead to innovation and creativity.Goals can make managers think they know what the future will be like, even when they don't: Managers may become overly confident in their ability to predict the future and may not be prepared to adapt when unforeseen events occur.Employees may find that the pressure created by goals is too much for them to handle: When employees feel excessive pressure to achieve specific goals, it can lead to stress, burnout, and even unethical behavior.learn more about strategic goal: https://brainly.com/question/28145077
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describe how to calculate the price elasticity of demand. drag word(s) below to fill in the blank(s) in the passage.
To calculate the price elasticity of demand, you would need to first determine the percentage change in price and the percentage change in quantity demanded. Then, divide the percentage change in quantity demanded by the percentage change in price. The resulting ratio will give you the price elasticity of demand.
What is price elasticity ?The price elasticity of demand measures the responsiveness of the quantity demanded of a good to a change in its price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price. If the percentage change in quantity demanded is larger than the percentage change in price, the demand is considered to be elastic. If the percentage change in quantity demanded is smaller than the percentage change in price, the demand is considered to be inelastic.
There are several determinants of price elasticity of demand, including:
Availability of Substitutes: The greater the availability of substitutes for a good, the more elastic its demand will be.
Necessity vs. Luxury: Necessities, such as food and medicine, tend to have inelastic demand, while luxury goods tend to have more elastic demand.
Time Horizon: The longer the time horizon, the more elastic the demand for a good is likely to be.
Proportion of Income Spent: The larger the proportion of a consumer's income that is spent on a good, the more elastic its demand will be.
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FILL IN THE BLANK. __ is the skill of continually discussing obvious cultural, racial, or ethnic differences with the client.
Answer:
Broaching is the skill of......
The initial demand curve is D1, and the initial (short-run) supply curve is SSR. First, the demand for oil changes from D1 to D2. This leads to a price increase from $50 to $90. Then, over time, supply becomes more elastic as represented by the supply curve changing from SSR to SLR. This leads to a price drop from $90 to $80. What role does the elasticity of demand play in the price change from $90 to $80?
The higher the long-run equilibrium quantity (Q3), the more elastic the demand. The smaller the price drop after the initial increase, the more elastic the demand.
The price difference between E2 and E3 is determined by the slope of the demand line D2: the flatter the line, the smaller the price difference.
What is elasticity of demand?The degree to which demand responds to a change in an economic factor is referred to as demand elasticity.
The most common economic factor used to calculate elasticity is price. Other factors include income level and availability of substitutes. Elasticity measures how demand shifts in response to changes in economic factors.
Therefore, if the product is highly elastic, the price change from $90 to $80 will have a great impact on its demand.
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Company managers need to address and resolve a comprehensive set of strategy-related issues and problems EXCEPT Multiple Choice evaluations of the company's own resources, internal circumstances, value chain, and competitiveness. diversification moves of corporations competing in similar industries. О O a "worry list" of "how to...," "whether to...," and "what to do about." what was learned from analyses of the company's industry and competitive environment. O challenges the company has to overcome in order to be financially and competitively successful in the short-run.
Company managers need to address and resolve a comprehensive set of strategy-related issues and problems, including evaluations of the company's own resources, internal circumstances.
Value chain, and competitiveness, diversification moves of corporations competing in similar industries, a "worry list" of "how to," "whether to," and "what to do about," and challenges the company has to overcome in order to be financially and competitively successful in the short-run.
Evaluations of the company's own resources, internal circumstances, value chain, and competitiveness are important components of a company's strategic analysis and are not an exception to the strategy-related issues and problems that need to be addressed and resolved.
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Which of the following kinds of marks are denied placement on the Principal Register?
A.Those which are geographically descriptive
B.Those containing fanciful names
C.Those consisting of surnames
D.Those consisting of government insignia
Under U.S. trademark law, marks that are considered "descriptive" or "generic" are generally not eligible for placement on the Principal Register, which is the primary register of trademarks maintained by the United States Patent and Trademark Office (USPTO). Here option A is the correct answer.
Those which are geographically descriptive: Geographically descriptive marks, such as "California Wine" or "New York Pizza," are typically not eligible for placement on Principal Register because they describe the place of origin of a product or service and do not function as a trademark to identify and distinguish the source of the goods.
Those containing fanciful names: Fanciful names, such as "Kodak" or "Xerox," are considered arbitrary and are eligible for placement on Principal Register because they do not describe the goods or services with which they are associated.
Those consisting of surnames: Surnames, such as "Smith" or "Johnson," can be eligible for placement on the Principal Register, but only if they have acquired secondary meaning, meaning that consumers have come to associate the surname with a particular source of goods or services.
Those consisting of government insignia: Government insignia, such as seals or logos, are generally not eligible for placement on Principal Register because they may not be used as trademarks without the approval of the relevant government entity.
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Josh works in the HR department of AmPro Inc. He was recently promoted to a managerial role. In the context of the Society for Human Resource Management (SHRM) competency framework, which of the following skills does Josh most likely have to build to succeed in his new role?
A) Administrative capabilities
B) Recordkeeping
C) Leadership and navigation
D) Legal capabilities
In the context of the Society for Human Resource Management (SHRM) competency framework, Josh is most likely have to build to succeed in his new role in leadership and navigation.
The activity of recruiting, retaining, distributing, and managing personnel is known as human resource management (HRM). Frequently, HRM is referred to as just "human resource department" (HR). The Hr department of a business or group is often in charge of developing, enacting, and monitoring the firm's regulations concerning employees and its interaction with them. It is employee management which focuses mainly on workers as company assets. Professionals were often described as human capital in this respect. The objective is to use people economically, limiting risk and maximising investment return just like with other stock holdings (ROI).
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which of the following best describes the shape of the distribution of used car prices at the dealership?
The form of the dealership's used automobile price distribution is most accurately described as "skewed to the right" (positively skewed).
What term describes a distribution that is skewed to the right?The mean frequently has a larger numerical value than the median, which in turn has a larger numerical value than the mode, in skewed distributions with a tail to the right. Positive skewness is the classification for the distribution.
What is the score distribution's positive skewness supposed to mean?The majority of people get results that are below the mean, according to the distribution of their scores, which is positively skewed (i.e., most of the scores are low). It also indicates that the low mode is not equal to the median, mean, or mode.
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For almost 20 years, Hank has been the top sales professional for Strickland Propane. He credits his success to following the first law of business, which is toA. Innovate or die.B. Take care of the customer.C. Get things done through people.D. Do things right.
He attributes his achievement to adhering to the fundamental business law, namely the obligation to consider taking care of the client. (b) is the correct choice.
Several examples Businesses that golablize sell products, open industrial plants, and collaborate with partner organizations in other regions of the world.
The development company of a new hospital didn't cut down any tree branches because he believed it would harm coming generations. This is an aspect of effective management studies.
The Contingency viewpoint is used when choosing an approach to management based on the circumstance as well as parties involved.
Organizations do not have easy control over the macro environmental factors, which contains socially constructed, demographic, ideological, and foreign troops.
You should really be inspired to learn if you comprehend the skill gap that are usually understood by business owners.
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a retail store wants to check on traffic pattern to decide on its store location which of the methods
One method that a retail store can use to check on traffic patterns when deciding on its store location is to use data sources to get a detailed view of micro traffic patterns.
This can help the store to adjust their analysis to determine the foot traffic in a particular area. Additionally, they can use software to track the foot traffic in their store, and they can also observe the foot traffic in the area to get a better understanding of the customer flow.
Lastly, retailers can also adjust their store layout and design to entice and convert shoppers, as this can have a significant impact on the foot traffic in the area.
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An account pays interest at a nominal rate of 6% per year. Find the effective annual yield if interest is compounded.(a) Monthly: effective annual yield= %(b) Weekly: effective annual yield= %(c) Daily: effective annual yield= %
The effective annual yield if interest is compounded monthly is 6.16778%.
[tex]R= ((1+\frac{r}{n})^n-1).100[/tex]%
here r=6% = 0.06
for monthly compound take n=12
[tex]R= ((1+\frac{0.06}{12})^12-1).100[/tex]
[tex]R= ((1+0.005)^12-1).100[/tex]
[tex]R= 6.16778[/tex]%.
An account is a particular document within an organization's financial ledger or stability sheet. Accountants, finance specialists, and bookkeepers can use debts to document vital monetary statistics, like reporting daily transactions to affirm the exact amount of money an enterprise has at any moment.
In accounting, an account is a document inside the well-known ledger this is used to type and keep transactions. for example, companies may have an account of a coin wherein to file each transaction that will increase or decreases the company's coins. fundamental accounting principles used inside the commercial enterprise global cowl sales, charges, assets, and liabilities. those elements are tracked and recorded in files which include stability sheets, earnings statements, and cash float statements.
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Why is it dangerous to live paycheck-to-paycheck? *.
If you lose your job you will have no way to pay bills
If your pay increases, you will have to redo your entire budget
O You will never be able to afford nice things
Low-income people often live paycheck-to-paycheck
If you lose your job you will have no way to pay bills is it dangerous to live paycheck-to-paycheck. Hence, option A is correct.
What does it really mean to live paycheck to paycheck?If you're living paycheck to paycheck, all of your income leaves your account by the end of the month and then comes back in.
While money cannot purchase happiness, it may provide you and your loved ones with protection and safety. Humans require money to pay for all the necessities of existence, including food, shelter, medical expenses, and a quality education.
Thus, option A is correct.
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A characteristic of a natural monopoly is that
Question 5 options:
A)
adding businesses in competition would increase cost to the consumer.
B)
the firm is dedicated to the use of natural resources.
C)
the firm is supported by the consumer and voted into existence by the voters.
D)
there's no government intervention in the market.
A market structure is characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitutes.
What is the meaning of Market?The entire number of sellers and purchasers in the region or city under consideration is referred to as the market. Earth, as well as several nations, regions, states, and cities, maybe the subject. The worth, expense, and cost of the goods traded depend on the supply and demand forces that exist in the market.
Any location where producers, retailers, or distributors sell and customers buy is a market. Websites, main streets, and stores are a few examples. The phrase may also be used to describe all customers who purchase a good or service.
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Answer:
there's no government intervention in the market.
Explanation:
there's no government intervention in the market.
TRUE/FALSE. when setting a long-term strategy for app promotion, it's important to recognize that objectives may change over time.
The statement when setting a long-term strategy for app promotion, it's important to recognize that objectives may account over time is true. It's critical to understand that goals may shift over time when creating a long-term plan for app promotion.
Organize the ensuing steps in the suggested order of occurrence. Build a user base and install software at scale are the proper order. After three months, a sizable portion of app users quit, and The two factors that advertisers should take into account when marketing applications are the fact that some consumers download apps and then forget about them. Uninstalling apps by accident is promotion possible.
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The government announces that it will dramatically rewrite efficiency standards, making it much harder for automakers to produce their cars Technology Number of seßers Prices of inputs Prices of related goods Expectations
The government declares that it is going to drastically change the efficiency rules, which will make it much more difficult for automakers to construct their vehicles.
Manufacturers, energy experts, consumer advocacy organisations, and other stakeholders collaborate to develop and publish standards for equipment as federal regulations given by the government. When new appliance standards are put into place, they prohibit the production, importation, or sale of products that don't meet the minimum efficiency requirements. Manufacturers have a grace period for selling inventory that does not comply with the new regulations, and installed equipment is exempt from the standards. The DOE has the power to impose equipment and appliance regulations under the Energy Policy and Conservation Act. According to the Department's Office of Enforcement, products sold in the US must adhere to standards for energy and water conservation. The Code of Federal Regulations offers guidelines on certification, compliance, and enforcement for a variety of products and equipment (CFR).
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When a manager has no hesitation about communicating to people outside the company regarding a decision made because the typical person in a society would think it is acceptable, this logic is explained by the ________ rule.A)justiceB)moral rightsC)utilitarianD)practical
The company regarding a decision made because the typical person in a society would think it is acceptable, this logic is explained by the D)practical.
Decisions made by businesses safeguard, improve, and advance the welfare and well-being of their stakeholders. The justice principle states that an ethical choice must fairly, equally, or impartially share advantages and harms across individuals and organizations. Based on how evenly or fairly different course of action would distribute outcomes to stakeholders, managers should analyze and contrast them. A moral choice is one that best upholds and defends the basic or unalienable rights and privileges of the parties involved, according to the moral rights rule.
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According to the theory of comparative advantage, if the U.S. and Mexico increases their trade with each other, the two countries will experience ________ standards of living.
According to the theory of comparative advantage, if the U.S. and Mexico increase their trade with each other, the two countries will experience higher standards of living.
The theory of comparative advantage suggests that countries can benefit from trade by specializing in the production of goods and services they are relatively more efficient at producing and then trading with each other.
This specialization leads to an increase in the production of goods and services and a resulting increase in the standard of living for both countries. The gains from trade are therefore a result of each country specializing in what it does best and trading with each other, leading to greater efficiency and increased wealth for both nations.
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which document specifies the amount of the mortgage loan, the interest rate, loan term, and repayment schedule g
A promissory note is the document specifies the amount of the mortgage loan, the interest rate, loan term, and repayment schedule. It essentially spells out how the lending institution will be paid back.
What is promissory note ?A promissory note is a written pledge to pay back borrowed funds. Binding contracts known as promissory notes are intended to safeguard both the lender and the borrower. The promissory note serves as written confirmation of the borrower's debt.
The financial information on the loan's repayment, including the interest rate and method of payment, is provided in a promissory note. A mortgage outlines the steps that will be taken if the borrower is unable to make loan payments.
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A prepaid expense occurs when a company pays in advance for a service or goods for which the benefit extends beyond the current accounting period.
a.
FALSE
b.
TRUE
"A prepaid expense occurs when a company pays in advance for a service or goods for which the benefit extends beyond the current accounting period." The statement is true.
What do you mean by prepaid expenses?Prepaid expenses, such as rent or insurance, are future expenses that are paid in advance.
Prepaid expenses are first recorded as an asset on the balance sheet. As the assets' benefits are realized over time, the amount is recorded as an expense.
Prepaid expenses are prepayments of expenses, so they are debited and the cash account is credited.
This accounts for the prepayment on the balance sheet as an asset, such as prepaid insurance, and debits an expense account on the income statement, such as insurance expense.
Therefore, "A prepaid expense occurs when a company pays in advance for a service or goods for which the benefit extends beyond the current accounting period." The statement is true.
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According to the value-percept theory, employees establish their level of pay satisfaction partly on
A) the cost of health insurance coverage
B) their potential for advancement
C) the pay of similar coworkers
D) idealized job performance
The employees establish their level of pay satisfaction partly on C) the pay of similar coworkers According to the value-percept theory.
In the term of economic and financial, Value percept theory generally can be defined as a theory that job satisfaction can be calculated based on specific facets that an employee expects from the job. The focus of employee is more on those facets they value the most, Employees might get the overall satisfaction. The employee will become more self-motivated and committed to their work if their satisfaction is fulfilled.
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FILL IN THE BLANK. There have been two notable trends in the demographics of multinational enterprises since the 1960s. These include _____. the rise of non-US multinationals
These include the growth of mini-multinationals and the rise of non-U.S. multinationals. Small enterprises are become more involved in international commerce and investment as mini-multinationals become more prevalent.
Introduction to Mini Multinationals Mini multinationals are small to medium-sized businesses that operate internationally. According to recent studies, technical advancements and computer software let small businesses make the most of their little investment. A multinational firm is one that has multiple branches or subsidiaries in two or more countries in addition to its main office in the home country. So, an MNC is a company that owns businesses in more than one nation.
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behaviors, such as gambling, which become criminal because governments want to discourage them, are classified as ____ crimes.
Behaviours, such as gambling, which become criminal because governments want to discourage them, are classified as strict liability crimes.
A strict-liability theory is a principle of criminal accountability that permits the conviction of someone who is morally blameless for committing an offence even though the crime needs the demonstration of mens rea, as is required by definition. An illustration of this concept is that a person who violates a criminal statute even though she was reasonably ignorant of it or misunderstood its meaning may be punished. A similar interpretation cannot be used to impose strict accountability on criminals. It is impossible to consider receiving a prison term or even a court reprimand as paying taxes or conducting business. For ease of use, "strict responsibility" is to be interpreted in a criminal meaning moving forward.
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Signing a contract to provide tutoring services beginning next month is an example of
Oa, an accrued revenue
Ob. an accrued expense
Oc. an unearned revenue
Od. none of these choices
Accrued revenue is revenue that has been earned by providing a good or service, but for which no cash has been received.
What is meant by Accrued revenue?
Accrued revenue is earnings from providing a product or service, where payment has yet to be issued to the provider. Due to this, accrued revenue is recorded as a receivable owed by the customer for the business transaction. For example, a SaaS company may acquire a customer who needs a service for the next six months.Examples of Accrued Revenue. The most common accrued revenue is the interest income (earned on investments but not yet received) and accounts receivables (the amount due to a business for unpaid goods or services.)Accrued revenue is usually recorded as a current asset because the time between earning the revenue and receiving the cash after customer billing is generally less than one year or the company's operating cycle.To learn more about accrued revenue refers to:
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Revenue that has been generated via the provision of an item or service but for which no money has been exchanged is known as accrued revenue.
What is meant by Accrued revenue?Revenue that has been generated via the provision of an item or service but for which no money has been exchanged is known as accrued revenue.
Earnings from supplying a good or service for which the provider has not yet received payment are referred to as accrued revenue. As a result, accumulated income is noted as a debt owing by the client for the commercial transaction. For instance, a SaaS business may sign up a client who requires a service for the upcoming six months.An illustration of accrued revenue Interest income (earned on investments but not yet received) and accounts receivables are the two types of accumulated revenue that are most frequently used (the amount due to a business for unpaid goods or services.)Since it often takes less than a year or the length of the company's operational cycle for accrued revenue to be received in cash following client billing, accrued revenue is typically represented as a current asset.To learn more about accrued revenue refers to:
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What do you get throughout the life of the bond?
Answer:
you're giving the issuer a loan
Explanation:
By buying a bond, you're giving the issuer a loan, and they agree to pay you back the face value of the loan on a specific date, and to pay you periodic interest payments along the way, usually twice a year. Unlike stocks, bonds issued by companies give you no ownership rights.
Proper authorization of write-offs of uncollectible accounts should be approved in which of the following departments?
1) accounts receivable
2) credit
3) accounts payable
4) treasurer
Proper authorization of write-offs of uncollectible accounts should be approved in Credit department. A write-off is the removal from the general ledger of an unrecoverable accounts receivable.
One of two ways to manage for bad debts in accounting is the direct write off approach. The allowance technique is the alternative. Unpaid money owed by a consumer is referred to as a bad debt. In the direct write-off approach, a small-business owner can credit Accounts Receivable and debit the Bad Debts Expense. When a small business decides an invoice is uncollectible, they can instantly debit the Bad Debts Expenses and credit Account Receivable under the direct write off technique. This cancels out the income that was reported and also the remaining balance that was owed to the company in the books. Accounts receivable object codes must be reconciled on a monthly basis, providing that monthly activity has been posted, in accordance with the Asset/Liability Reconciliation Guidelines. A list of past-due invoices and amounts that agree with the general ledger balance should be included in an accounts receivable reconciliation.
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When Tao measures his employees' performance and compares their performance against the goals he set for them, he is performing which of the following functions?
When he quantifies his staff members' accomplishments and compares it to the objectives he sets for eachother, he is exercising control.
Spokesperson is one of the positions that somehow a small business supervisor could value more than their counterpart in a big corporation.
Among the least preferred management responsibilities is dealing with paperwork.
Goal-setting and goal-attainment strategies are examples of planning.
According to studies, management teams enjoy any of the following apart from planning ahead.
The perturbation controller duty includes resolving subordinate dispute seen between manager's and other departments.
All of the following are examples of important managerial mistakes:
- Weak communication skill
- impulsive characteristics
- inability to form a team - inability to adapt
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The process of identifying and following employees w/ potential who will be poised to take over senior positions when they become available is called ______.
The process of identifying and following employees with potential who will be poised to take over senior positions when they become available is called Succession Planning.
Succession planning is the practise of identifying and evaluating individuals with the potential to take over senior positions when they become available.
A strategic process called succession planning identifies and develops internal candidates for important leadership roles inside a business. It makes ensuring that businesses have the expertise and leadership required to meet existing and foreseeable business demands while preserving continuity and stability.
In this process, leadership and talent shortages are discovered in addition to the organization's present and future needs and staff capabilities are assessed. Then, action plans are put in place to support employees in achieving excellence and getting prepared for future leadership positions.
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when a company receives cash in an exchange that lacks commercial substance,what is the amount of gain that should be recognized ?
When there is business substance (which is when there is a exchange in cash flow resulting from the transaction), the events recognize a achieve or loss on the exchange. If there is no industrial substance, report the received asset at the e book price of the asset given up in the exchange.
What does it imply when an alternate lacks commercial substance?Non-Commercial Substance. If financial positive aspects exist due to alternate transactions, the transaction is said to have a industrial substance. If there is no exchange in monetary gains, the transaction does no longer have a industrial substance. There should be a trade in risk, value, or timing of money flows for business substances.
If the PPE obtained in an alternate transaction lacks business substance, the value is measured at the carrying quantity of the asset given up. Consequently, no obtain or loss shall be recognized.
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(a)
(i) The direct material cost variance is RM25,200
(ii) The direct material price variance is RM0
(iii) The direct material usage variance is RM0
(iv) The direct labour cost variance (v) The direct labour rate variance is
(vi) The direct labour efficiency variance is RM59,400
How did we get the values?(a)
(i) The direct material cost variance is the difference between the actual cost and the budgeted cost of direct material:
12,600 kilos x RM2 per kilo = RM25,200
Actual cost - Budgeted cost = RM25,200 - RM12,000 = RM13,200 (Favourable)
(ii) The direct material price variance is the difference between the actual price per kilo and the standard price per kilo:
12,600 kilos x (RM2 per kilo - RM2 per kilo) = RM0
(iii) The direct material usage variance is the difference between the actual usage of direct material and the budgeted usage of direct material:
12,600 kilos - 6,000 kilos = 6,600 kilos
6,600 kilos x (RM2 per kilo - RM2 per kilo) = RM0
(iv) The direct labour cost variance is the difference between the actual cost and the budgeted cost of direct labour:
9900 hours x RM6 per hour = RM59,400
Actual cost - Budgeted cost = RM59,400 - RM30,000 = RM29,400 (Favourable)
(v) The direct labour rate variance is the difference between the actual rate per hour and the standard rate per hour:
9900 hours x (RM6 per hour - RM6 per hour) = RM0
(vi) The direct labour efficiency variance is the difference between the actual output and the budgeted output:
1800 units - 2000 units = -200 units
-200 units x 5 hours per unit = -1000 hours
-1000 hours x RM6 per hour = RM6,000 (Unfavourable)
(b)
Two possible reasons for the material variances are:
Changes in the price of raw materials: The actual price per kilo of direct material may have been different from the budgeted price due to changes in the market price of raw materials.
Changes in the usage of raw materials: The actual usage of direct material may have been different from the budgeted usage due to inefficiencies in production or changes in product design.
Two possible reasons for the labour variances are:
Changes in the wage rate: The actual rate per hour of direct labour may have been different from the budgeted rate due to changes in the wage rate negotiated with the workers.
Changes in labour efficiency: The actual efficiency of direct labour may have been different from the budgeted efficiency due to factors such as illness, absence, or changes in working conditions.
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many make-to-stock firms invest in manufacturing programs in order to achieve higher service levels for a given inventory investment.
To increase service levels for a given inventory expenditure, many make-to-stock businesses make investments in lean manufacturing programs.
What is lean manufacturing?A production method known as "lean manufacturing" is based on the idea of increasing productivity while reducing waste in a manufacturing operation.
Anything that doesn't bring value that customers are willing to pay for is considered waste according to the lean philosophy.
For a given inventory expenditure, many make-to-stock businesses invest in lean manufacturing programs to increase service levels.
The Toyota Way, also known as the Toyota Production System, was an operational framework used by the Japanese automobile manufacturer Toyota in the post-World War II 1950s and 1960s (TPS).
The two pillars of automated quality control and just-in-time inventory management served as the foundation for the Toyota system.
Therefore, to increase service levels for a given inventory expenditure, many make-to-stock businesses make investments in lean manufacturing programs.
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Correctly question:
Many make-to-stock firms invest in _____ manufacturing programs in order to achieve higher service levels for a given inventory investment.