In order to calculate the number of units that must be sold to break even, we must use the formula Break Even Point = Fixed Costs / (Selling Price - Variable Costs).
In the case of Virgil Corporation, the fixed costs are $27,000 and the selling price is $39 per unit with the variable costs of $30 per unit. We can then plug these values into the equation and solve for the break even point. 27,000 / ($39 - $30) = 6,750 units. This means that Virgil Corporation must sell 6,750 units in order to break even.
To break even, a company must sell its products in a quantity such that its total sales revenue is equal to its total costs. This is known as the break even point. In order to calculate the break even point, we must use a combination of the selling price, variable costs, and fixed costs associated with the product. Here, we can determine the break even point for Virgil Corporation by solving the equation Break Even Point = Fixed Costs / (Selling Price - Variable Costs). By plugging in the given values, we can determine that Virgil Corporation must sell 6,750 units in order to break even.
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a mission statement answers which of the following questions? group of answer choices what business are we in? what are our goals? how can we serve our target markets? what do we want to become? which is our market position?
A mission statement typically answers the questions "What is our purpose?" and "What do we want to become?"
It defines the company's purpose, values, and goals and serves as a guide for decision making and strategy development.
It also answers the question "What business are we in?" by outlining the company's core products or services and market focus. Mission statements may also provide some information about how the company plans to serve its target markets, but this is not always the primary focus. The market position of a company is usually not directly addressed in a mission statement.
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the sales tax rate is 5% if alexa buys a flute priced at $775.44, what will be the total cost including tax?
The 5% sales tax applies. If Alexa purchases a flute for $775.44, the final price, including tax, will be $ 814.212.
The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost in economics. Divide the variation in production costs by the variation in quantity to determine marginal cost. Total fixed cost (TFC) is the cost that is constant regardless of the output level.
Total variable cost (TVC) is the expense whose amount varies depending on the output level. The sum of the total fixed cost and total variable fixed cost is the total cost (TC).
Total price = Tax + Amount
Here 5% of $775.44 :
= ($775.44/100) x 5
= 38.772
total cost = $775.44 + 38.772
total cost = $ 814.212.
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the project management core area including acquire resources, develop team, and manage team is called:
Project Resource Management refers to the essential components of project management, such as resource acquisition, team development, and team management.
Project Resource Management: What Is It?Planning, scheduling, and allocating resources to finish a project is the process of resource management. Resource management is a process that project managers are responsible for overseeing from beginning to end. Utilizing resource management strategies and technologies is necessary for them to do this.
Why is resource management for projects crucial?Resource management done correctly may lower costs, increase efficiency, and increase production for your company. By reprioritizing projects or resources, you can usually more effectively mitigate risk by seeing possible resource conflicts early on.
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under the revenue recognition principle, revenues are recognized only select one: a. when cash is received. b. when the company satisfies its obligation to provide goods or services. c. after cash is received. d. before cash is received.
The correct option is B, when the company satisfies its obligation to provide goods or services. The principle of revenue recognition states that revenue should be recognized when a company fulfills its obligation to provide goods or services to its customers.
This means that revenue recognition should occur when the company has completed the performance of the services or delivered the goods needed to fulfill the customer's order. Revenue should not be recognized if the company has not yet fulfilled its obligation, even if cash has been received. This is because the company has not yet delivered the goods or services and therefore has not yet earned revenue.
Premature revenue recognition could lead to incorrect financial reporting. This could lead to an overstatement of the company's performance, which could result in inaccurate financial metrics and an incorrect picture of the company's financial health.
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a production possibilities frontier will be bowed out if: group of answer choices the production of only one good involves an opportunity cost. resources are not perfectly adaptable to the production of each good. resources are scarce. technology improves. resources are used efficiently.
A production possibilities frontier will be bowed out if resources are not perfectly adaptable to the production of each good. Hence, the correct option is (B).
What Is A Production Possibility Frontier?The production possibility frontier (PPF) is one of the tools in economics. This PPF is a curve that can be used to measure the amount of production of two types of goods that can be done when the two types of goods use the same resource. Therefore, the line on the PPF curve will move downwards or bow out when resources cannot adapt to the production of each good. This creates an imbalance in the production process.
The question was incomplete, but most probably your question was:
A production possibilities frontier will be bowed out if
A. The production of only one good involves an opportunity cost
B. Resources are not perfectly adaptable to the production of each good
C. Resources are scarce
D. Technology improves
E. Resources are used efficiently
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in its 1st year of operation, city perk paid salaries expense of $1.1 million. on december 31, it recorded an entry for additional salaries expense of $100,000 that will be paid at the beginning of the 2nd year. how much will salaries expense for the 1st year ended equal?
Increases in stockholders' equity are reported upon that right side of the T-account, and $1.2 million of that amount will be utilized for wages for the initial year that concluded equally.
Existing shareholders, which symbolizes the amount contributed, and net assets, which have been derived from successful operations when income exceeds expenditure, make up shareholders' capital.
An user's account ending capital is the amount in the fund even after raises and declines have been documented.
Receiving payment from a client to settle a receivable accounts that was already documented will not have an impact on obligations, stockholders' capital, or assets under management.
If a business charges revenue and debit card transactions advertising expense, it needs to have paid to promote run throughout the same income statement.
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suppose that another portfolio, portfolio e, is well diversified with a beta of .6 and expected return of 8%. would an arbitrage opportunity exist? if so, what would be the arbitrage strategy?
There is no opportunity for an arbitrage strategy, as the pricing of Portfolio E is in line with market expectations.
An arbitrage opportunity would not exist for Portfolio E, as the expected return and beta are both within normal market expectations. Arbitrage opportunities arise when there are discrepancies in the pricing of assets, leading to a situation where a riskless profit can be made by buying low and selling high. In this case, if Portfolio E has a beta of 0.6 and an expected return of 8%, it falls within the normal range of expected returns and betas for well-diversified portfolios. Thus, there is no opportunity for an arbitrage strategy, as the pricing of Portfolio E is in line with market expectations. An investor looking to invest in Portfolio E would simply purchase the portfolio at its current market price and hold it until they want to sell, like with any other investment.
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which of the following factors causes a decrease in supply? select one: a. a decrease in demand b. a decrease in the price of the product c. an increase in the price of the product d. new taxes on output
A decrease in supply occurs when the quantity of a good or service that producers are willing and able to provide decreases, even when the demand for that good or service remains the same.
The main cause of a decrease in supply is an increase in the cost of production. For example, if the price of raw materials used to produce a product increases, it may become more expensive to produce that product, leading to a decrease in supply. Similarly, if the cost of labor increases, it may also become more expensive to produce the product, leading to a decrease in supply.
In conclusion, a decrease in supply occurs when the cost of production increases, making it more expensive for producers to produce a product. This can result from factors such as an increase in the price of raw materials, an increase in the cost of labor, or new taxes on output, which all raise the cost of production. In contrast, a decrease in demand, a decrease in the price of the product, or an increase in the price of the product would not typically cause a decrease in supply.
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dynamic reports are business intelligence (bi) documents that are updated at the time they are requested. group of answer choices true false
True."Dynamic reports are a type of business intelligence (BI) document that update in real time on demand". This means that the data displayed in the report is current at the time it was accessed, not based on a predefined data set.
Dynamic reports provide a more up-to-date view of business operations and performance compared to traditional BI reports. They also enable real-time decision-making, as they provide stakeholders with up-to-date information. Dynamic reporting solutions are widely used by organizations to increase operational efficiency and improve their ability to make informed decisions. Harnessing the power of technology, dynamic reports can provide real-time insights and information to help organizations make better decisions and stay ahead of the competition.
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paral has responsibility for the functions of organizing, staffing, planning, and controlling activities in a large company. these functions are most closely associated with
Manager
Activities in Management The first function of management is planning, which serves as the cornerstone for the other four domains. Planning entails laying down step-by-step instructions for achieving a particular objective. He or she will need to plan out specific steps, including what to do, when to do it, and how to accomplish it. Consider it as bridging the gap between where we are now and where we aspire to be. The manager needs to decide what needs to be done, for instance, if the company's purpose is to make a profit. This can involve increasing advertising expenditures, adding more seasoned workers, reducing expenses, or upgrading the selling products.
Organizing • The management must immediately organise the team in accordance with the plan after planning. This entails choosing the group's organisational structure and organising all of the company's resources to carry out a course of action.
Staffing • The goal of staffing is to manage all hiring and personnel requirements for the organisation. After determining their needs, management may opt to increase staffing in a particular department. Additionally, it is in charge of hiring, firing, promotions, transfers, and training.
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which of the following items is not a reconcililing item in the effective tax rate reconciliation in the income tax footnote? a) state income taxes. b) foreign income taxes. c) accrued pension liabilities
The correct option is C, The item "accrued pension liabilities" is not a reconciling item in the effective tax rate reconciliation in the income tax footnote.
Reconciliation refers to the process of bringing two conflicting or opposing sides together, resolving differences, and restoring harmony. It can refer to the resolution of conflicts or disputes between individuals, groups, organizations, or nations. In this sense, reconciliation involves understanding and addressing the underlying causes of conflict and finding ways to move forward in a peaceful and harmonious manner.
Reconciliation can also refer to the process of reconciling accounts, such as financial records or accounts payable and receivable, to ensure that all transactions are accurately recorded and accounted for. In this context, reconciliation involves verifying and adjusting financial records to ensure that they are in agreement and accurately reflect the financial status of an organization.
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Please help!! Unit test question 50 pnts!!!! Kyle is applying to be a police officer. In his interview, he describes that he loves watching the news and following current cases. He explains that he is honest, caring, compassionate, and has a very deep sense of integrity. He then explains that he is in excellent physical condition and trains regularly in hand-to-hand combat. He tells them that he is a member of the Police Explorers, a group that trains and rides along with the local police. He also tells them that he graduated at the top of his class and was a state finalist on the mock trial team. Which table accurately lists Kyle’s personal interests, skills, achievements, values, and experiences? A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries grades and mock trial finalist; physical condition and training; following cases on the news; honest, caring, compassionate, has integrity; Explorers. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries grades and mock trial finalist; honest, caring, compassionate, has integrity; Explorers; physical condition and training; following cases on the news. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; physical condition and training; grades and mock trial finalist; honest, caring, compassionate, has integrity; Explorers.
The table is A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers. The correct option is (B).
What do you mean by skills, interest?Passion (or Interests): Do I enjoy engaging in this activity? something that you enjoy doing? Is this an activity I have the talent (or skills) for?
There are three categories of skills: self-management, functional, and specialised knowledge. Functional skills are innate aptitudes or capabilities that are refined through practice and education.
Therefore, the table accurately lists Kyle’s personal interests, skills, achievements, values, and experiences is A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers.
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Monetary reward a business owner receives for taking the risk involved in investing in a business; income left once all expenses are paid.
answer choices
Private enterprise system
Oligopoly
Perfect competition
Price competition
Profit
Perfect competition is a monetary reward business owner receives for taking risk involved in investing in business; income left once all the expenses are paid.
What is a perfect competition?Perfect competition is a theoretical market structure characterized by a large number of small firms selling homogeneous products to a large number of buyers. In this type of market, no single firm has the power to influence the price of the product, and all firms have equal access to the market and its resources. As a result, prices are determined by supply and demand, and firms are price takers rather than price makers. In perfect competition, there is no barriers to entry, which means that new firms can easily enter the market and existing firms can easily exit. This creates a constant pressure for firms to reduce costs and improve their products to stay competitive. Perfect competition is considered the ideal market structure because it results in efficient resource allocation, low prices, and maximum consumer surplus. However, perfect competition is rare in the real world and most markets are characterized by varying degrees of monopolistic competition or oligopoly.
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a financial system or budget that has a careful supervision of resources to prevent too much spending or excess is called a(n) . responses economy
Economy. A financial system or budget that has a careful supervision of resources to prevent too much spending or excess is called a "tight budget" or a "restrictive budget."
The purpose of a restrictive budget is to ensure that spending is kept under control and that resources are used efficiently. This type of budget is often used in situations where there are limited resources or when a company or household is trying to save money or reduce debt. A restrictive budget requires careful planning and monitoring of spending to ensure that expenses are kept within the limits set by the budget. A restrictive budget is a financial plan that aims to control spending and prevent overuse of resources. It sets limits on how much money can be spent in various categories, such as housing, food, transportation, entertainment, and so on. The goal is to prioritize spending on essential items and reduce or eliminate spending on non-essential items.
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A financial system or budget that has a careful supervision of resources to prevent too much spending or excess is called a(n)._____________
if carbon monoxide emissions decreased from 145 million tons annually to 80 million tons annually, by what percentage have emissions been reduced?
Over the yearly period, carbon monoxide emissions have decreased by around 45%. The computation looks like this: Emissions decreased by 44.83% when 145 million people were subtracted from 80 million.
A reduction of almost 45% may be seen in the drop in carbon monoxide emissions from 145 million tonnes to 80 million tonnes. This percentage may be calculated by taking the original amount (145 million tonnes) and subtracting the new value (80 million tonnes), dividing the difference by the original value, and multiplying by 100. For example: ((145 - 80) / 145) * 100 = 45%. A 45% decrease in carbon monoxide emissions is a major improvement that can benefit the environment, public health, and air quality. The effects of climate change can be further mitigated by actions taken to further reduce emissions, such as switching to cleaner energy sources and supporting sustainable mobility.
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you want to monitor the close process of all your financial subledgers and ledgers. how can you quickly obtain this information?
I want to oversee the closing process for all financial subledgers and general ledger. How can I get this information quickly View the status of each period by accessing the Manage Periods page for each subledger calendar and general ledger.
Run a completion status report. Budget administrators specify which budget accounts to monitor and determine percentage thresholds for available funds. Where do I need to define details when analyzing budget balances on the Budget Accounts Monitoring page? These implement segment value security rules. Which two statements are correct? (Choose two.) When you enable segment value security for a segment, users cannot access the value until you grant access to users and products. You can define rules using hierarchies. You do not need to rearrange your chart of accounts when you enable or disable segment value security. Segment value security rules do not take effect until you assign them to users and products. Specify intercompany system options.
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includes goods that are in the manufacturing process but are not yet completed. question content area bottom part 1 a. manufacturing overhead b. workinprocess inventory c. finished goods inventory d. raw materials inventory
Option - B : workinprocess inventory , includes goods that are in the manufacturing process but are not yet completed.
Products that are still in the production process but have not yet been finished are referred to as work-in-process (WIP) inventory. These products are in various stages of manufacturing and are only half finished. Products that are in the process of being painted, partially built, or waiting to be tested are a few examples of WIP inventory.
Because it offers a gauge of the efficacy and efficiency of the production process, WIP inventory is a crucial part of a company's manufacturing process.
A business can spot bottlenecks, inefficiencies, or other problems that are affecting its capacity to create things quickly and affordably by tracking WIP inventories.
WIP inventory is distinct from raw materials inventory, which consists of all the supplies a business requires to make its goods.
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The economic system is characterized by laissez-faire governmenta. Trueb. False
It is false because the economic system is not characterized by laissez-faire government.
A society's or a particular geographic area's mode of production, resource allocation, and distribution of services and goods is known as an economic system or economic order. It comprises the amalgamation of the numerous institutions, organisations, bodies, decision-making procedures, and consumption patterns that make up the socioeconomic structure of a specific demographic. Social systems include economic systems. This idea is connected to the produce. The study of economic systems takes into account social interactions within the system as well as how these many agencies and organisations are related each other and exchange information (including property rights and the structure of management).
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an auditor's review of the terms associated with notes payable most likely provides evidence concerning which of management's assertions?
An auditor's review of the terms associated with notes payable most likely provides evidence concerning assertions of Classification and understandability
All information used by the auditor to draw the findings on which the auditor's opinion is based, whether it came from audit processes or other sources, is referred to as audit evidence. Material that both validates and corroborates management's claims about the financial statements or internal control over financial reporting, as well as information that refutes such claims, make up audit evidence.
The statements of classification and understandability of financial statement information are supported by an auditor's analysis of the agreements connected with notes payable. The auditor can confirm that notes payable are correctly classified as liabilities and make sure that the terms and conditions are disclosed in a way that the readers of the financial statements can understand them.
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economic growth is defined as: a. the percent change of real gdp. b. the percent change of population. c. the percent change of per capita gdp. d. the percent change of real per capita gdp. e. the percent change of gross domestic product (gdp).
Economic growth is defined as the percent change in the Gross Domestic Product (GDP) of an economy over a period of time. Correct option is E.
Economic growth refers to an increase in a country's ability to produce goods and services, usually measured by the growth in its Gross Domestic Product (GDP) over a certain period of time. GDP is the value of all goods and services produced within a country's borders in a given period of time.
When the GDP of a country grows, it generally means that the country is becoming more productive and is able to produce more goods and services than it did in the previous period. This can lead to a higher standard of living for the country's citizens, as they have access to more goods and services and can afford a better quality of life.
However, economic growth is just one aspect of a country's overall well-being, and it may not accurately reflect the well-being of all citizens in an economy. For example, a country may have a high GDP but also have a large income gap between the rich and the poor, environmental degradation, or other social problems.
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When auditing with "fraud awareness," auditors should especially notice and follow up employee activities under which of these conditions?
a. The company always estimates the inventory but never takes a complete physical count.
b. The petty cash box is always locked in the desk of the custodian.
c. Management has published a company code of ethics and sends frequent communication newsletters about it.
d. The board of directors reviews and approves all investment transactions.
The correct option is A. The company always estimates the inventory but never takes a complete physical count.
Inventory refers to all of the items, goods, merchandise, and substances held via a commercial enterprise for promotion within the marketplace to earn an income. The reason for the stock is to offer a buffer between production and sales, smoothing out the glide of goods and ensuring that merchandise is to be had while clients order them.
Irrespective of the dimensions of your organization, having the right stock management device could be very important for any commercial enterprise. It allows you to keep in tune with all of your resources and determine the precise expenses. it can also help you manipulate surprising changes in demand without sacrificing purchaser enjoyment or product first-class. To acquire this aim, businesses ought to carefully control their inventory degrees, investing in an appropriate system if necessary.
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why is it important to start investing as early as possible?
It is important to start investing early to get better returns and plan for the future.
The value of an investment might fluctuate over time, and one could end up losing some or all of their initial investment. However, long-term investors typically profit from their investments. Young people might achieve their financial goals by investing early in the market. A person's money has more time to grow through compound interest the earlier they start investing, which can significantly boost overall returns.
Over time, making small contributions can result in significant savings and investment returns. By getting started early, you have more time to weather short-term market swings and perhaps benefit from the long-term gain. Additionally, starting early with one's assets is crucial for retirement planning because it gives the person money more time to develop and may result in a more significant source of retirement income.
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Sandhill Inc. Has decided to raise additional capital by issuing $162,000 face value of bonds with a coupon rate of 10%. In discussions with investment bankers, it was determined that to help the sale of the bonds, detachable stock warrants should be issued at the rate of one warrant for each $100 bond sold. The value of the bonds without the warrants is considered to be $136,850, and the value of the warrants in the market is $24,150. The bonds sold in the market at issuance for $145,500. (a) What entry should be made at the time of the issuance of the bonds and warrants
The entry will be, Debit Cash and Discount on the issue of Bonds by $145,500 and $38,325 respectively, and Credit Bonds Payable and Paid in Capital Warrants by $162,000 and $ 21,825 respectively.
Debit Cash and Discount on the issue of Bonds by $145,500 and $40,650 respectively, and credit Bonds Payable and Paid in Capital Warrants by $162,000 and $24,150 respectively.
The fair value of Bonds without warrant = $136,850
Fair value of Warrants = $ 24,150
Total = $ 161,000
Allocation to bonds = $ 136,850 / $ 161,000 * $145,500 = $ 123,675
Allocation to warrants = $ 24,150 / $ 161,000 * $ 145,500 = $ 21,825
Account Titles Debit Credit
Warrants were detachable:
Cash Dr. $145,500
Discount on issue of Bonds Dr. $38,325
(162,000-145,500
= $16,500 + $21,825)
To Bonds Payable $162,000
To Paid in Capital Warrants $ 21,825
Warrants were nondetachable:
Cash Dr. $145,500
Discount on issue of Bonds Dr. $40,650
( $16,500 + $ 24,150)
To Bonds Payable $162,000
To Paid in Capital Warrants $24,150
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the strategic planning committee is developing the project plan for the implementation of a health information system. for which reason is a timeline developed?
In conclusion, a schedule is an important component of the project plan for the installation of a health information system since it helps to guarantee that the project is finished on time, within budget, and to the appropriate standards.
For numerous reasons, a schedule is prepared as part of the project plan for the installation of a health information system:
To set deadlines, do the following: A timetable establishes precise deadlines for each work or phase of the project, which aids in keeping the project on track and on budget and on time.
To keep track of progress: A timetable may be used to track project progress and detect any delays or problems that may develop.
To distribute resources: A timetable aids in the proper allocation of resources, ensuring that activities are finished on schedule and that the appropriate persons and equipment are available when needed.
To detect dependencies: A timeline can assist project managers in identifying the dependencies between jobs, allowing them to organise the project more efficiently and effectively.
To improve communication, a timeline may be shared with stakeholders such as team members, project sponsors, and senior management to offer a visual depiction of the project schedule and keep everyone up to date on its progress.
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The complete question may be:
The strategic planning committee is developing the project plan for the implementation of a health information system. for which reason is a timeline developed?
To establish deadlines
To track progress
To allocate resources
To identify dependencies
All of the above
required: 1. compute its product cost per unit using variable costing. 2. determine the cost of ending finished goods inventory using variable costing. 3. determine the cost of goods sold using variable costing.
the entire variable expenses spent, as well as the completed items inventory at the end. I can't calculate the product cost per unit, the cost of terminating completed goods inventory.
or the cost of goods sold using variable costing without this information. Variable costing is a cost accounting approach in which only variable expenses are used to calculate product costs. Variable expenses, such as raw materials and direct labor, change directly with the amount of output. Fixed expenses, such as rent and depreciation, are not included in the variable costing computation of product costs. Using variable costing, calculate the product cost per unit as follows: Total all variable expenses incurred throughout the time, including raw materials, direct labor, and variable overhead.
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when would we expect to see undesired or unplanned inventory decumulation?
Undesired or unplanned inventory decumulation can occur for a variety of reasons. One common cause is a decrease in demand for a business's products. If sales slow down and the business is unable to move its inventory as quickly as it had anticipated. It may find itself with more inventory on hand than it needs.
Another reason why unplanned inventory decumulation can occur is due to supply chain disruptions. If a business relies on a particular supplier or source of raw materials, and that supplier experiences a disruption in its operations, the business may find itself unable to replenish its inventory as quickly as it had planned.
This can lead to undesired inventory decumulation, as the business may be forced to reduce its inventory levels in order to avoid stockouts or disruptions in its own production processes.
Finally, unexpected changes in market conditions can also lead to unplanned inventory decumulation. For example, if a business's competitors introduce new products or technologies that render its existing inventory obsolete or less desirable, the business may find itself with excess inventory that it needs to get rid of in order to stay competitive.
Similarly, changes in consumer preferences or behavior can also lead to unplanned inventory decumulation, as businesses may need to adjust their inventory levels in order to keep up with shifting demand patterns.
While inventory decumulation can be a deliberate strategy for freeing up cash or optimizing inventory levels, businesses must also be prepared to respond to unplanned decumulation in order to avoid stockouts, disruptions, or other negative consequences.
By carefully monitoring demand, supply chain risks, and market conditions, businesses can proactively manage their inventory levels and avoid the negative consequences of unplanned decumulation.
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technological advances a. rarely result in an increase in productivity. b. always involve buying lots of expensive equipment. c. introduce new techniques or methods so that firms can produce more with less. d. are equally common across all firms. e. are always the result of private-sector innovation.
Technological advances introduce new techniques or methods so that firms can produce more with less.
What are technological advances?
In order to meet the performance requirements of new power-generating systems, technology improvement to answer the world's growing demand for clean and inexpensive energy will require parallel advancements in materials science and technology. As highly effective, fuel-flexible, and environmentally benign electricity-producing technologies, fuel cells are emerging. Since the last few decades, research and development activities in academic institutions as well as industrial commercialization initiatives have focused on fuel cells due to the distinct properties that advantageously distinguish them from traditional heat engines for the generation of electricity.
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Holmes Products, Inc. , produces plastic cases used for video cameras. The product passes through three departments. For April, the following equivalent units schedule was prepared for the first department:
Direct Materials Conversion Costs
Units completed 25,000 25,000
Units, ending work in process ×
Percentage complete:
8,000 × 100% 8,000 —
8,000 × 50% — 4,000
Equivalent units of output 33,000 29,000
Costs assigned to beginning work in process: direct materials, $80,000; conversion costs, $19,250. Manufacturing costs incurred during April: direct materials, $118,000; conversion costs, $220,000. Holmes uses the weighted average method.
Required:
1. Compute the unit cost for April. If required, round your answer to the nearest cent.
2. Determine the cost of ending work in process and the cost of goods transferred out
1. The unit cost for April. If required, round your answer to the nearest cent is $13.75 per unit.
2. The cost of ending work in process and the cost of goods transferred out is 343750.
Direct conversion total
materials cost cost
cost to be accounted for
Beginning Work in process 90,000 33,750 123,750
Added during the year 75,000 220,000 295,000
Total cost (a) 165,000 253,750 418,750
EUP (b) 33,000 29,000
cost per unit c=a/b 5 8.75 13.75
1) unit cost = $13.75 per unit
2) Cost of ending work in the process
direct materials 8000*5= 40000
conversion cost 4000*8.75= 35000
Cost of ending work in process= 75000
cost of goods transferred out=
25,000*13.75 343750
Conversion expenses are the ones production costs required to transform raw substances into finished merchandise. The idea is utilized in price accounting to derive the value of the finishing stock, which is then suggested within the balance sheet. Conversion prices are a time period used in fee accounting that represents the mixture of direct exertions expenses and production overhead charges.
In other words, conversion prices are a manufacturer's product or production costs aside from the cost of a product's direct materials. The time period conversion fees frequently appear inside the calculation of the price of an equal unit in a procedure costing system. Conversion prices are calculated by absolutely including all direct exertions prices and production overhead prices. Direct hard work expenses are the exertions expenses that can be without delay traced to a product.
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an auditor prepares a schedule of dividends received that were reported as investment income and vouches it to dividend information available to the public. which assertion is the auditor testing?
The auditor test to see if the declared dividend income is accurate and can be verified by publicly available data.
An audit test is a series of internal or external auditors control techniques or processes that entail selecting a sample of a group of related transactions to assess the fairness and correctness of an individual's or an organization's financial statements.
Inquiry, observation, examination, re-performance, and computer-assisted audit techniques (CAAT), which entail testing massive amounts of data using computer algorithms, are the five test methods that auditors may utilize.
To determine if transactions were appropriately categorized in the accounting records, audit techniques are utilized.
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TRUE or FALSE.inflation is when there is: group of answer choices a rise in the unemployment rate. a rising aggregate price level. an expansion of output. a rise in wages. an increase in national income.
The statement "inflation is when there is a rising aggregate price level" is true. Inflation refers to the overall increase in prices of goods and services in an economy over time.
This means that, on average, the prices of goods and services will go up over a period of time, resulting in a decrease in the purchasing power of the currency.
An increase in the aggregate price level can be caused by a number of factors, including an increase in the supply of money, an increase in the demand for goods and services, or a decrease in the supply of goods and services.
When there is more money chasing the same amount of goods and services, prices will naturally go up. None of the other options listed in the question relate to inflation
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