Activity-based costing is most suited to manufacturing processes that are labor-intensive. This statement is false.
What is the meaning of activity-based costing?The ABC method, also known as activity-based costing, divides direct and indirect costs, such as salaries and utilities, among goods and services. The ABC system of cost accounting is built on the concept of activities, which are characterized as any event, undertaking, or task with a particular goal.
The purpose of activity-based costing is to allocate certain resources to objects. Assigning indirect costs to things that are difficult to identify and assign using activity-based costing is very beneficial. The more accurate cost of product overhead is the main benefit.
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Borrower qualifications for down payment assistance programs are based on ______.
Borrower qualifications for down payment assistance programs are based on credit score.
What is a credit score?A credit score is a numerical expression used to quantify a person's creditworthiness. It is based on a level examination of their credit files. The main component of a credit score is a credit report, which is normally obtained from credit agencies.
The average VantageScore and FICO score in the US are 688 and 711 respectively. In general, a credit score of 680 or higher is regarded as good, and a score of 740 or above is regarded as exceptional.
In conclusion, the borrower qualifications for down payment assistance programs are based on credit score.
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The health insurance premiums paid for by each partner in a partnership is considered to be:_________
The health insurance premiums paid for by each partner in a partnership is considered to be Self-employed health insurance premiums.
Are Health Insurance Premiums Tax-Deductible?Any out-of-pocket health insurance premiums you pay for plans that include medical care are tax deductible. You can deduct these costs for yourself, your spouse, and your dependents when preparing your taxes. Medical care policies cover treatment including hospitalization, surgery, and X-rays; prescription drugs and insulin; dental care; lost or damaged contact lenses; and long-term care, with some limitations.
Medicare Part B and D premiums as well as COBRA insurance premiums are both deductible expenses. The premiums paid for Medicare A are also tax deductible if you are not a former government employee who paid Medicare tax or enrolled in Medicare under Social Security.
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In post-trade equilibrium with = = $20, the wage of workers in relative to the wage of workers in will be equal to?
In post-trade equilibrium with Pc = Pw = $20, the wage of workers in relative to the wage of workers in will be equal to 2.5 .
What is post-trade equilibrium ?
When the production and consumption sectors of a closed economy are both in balance, the general equilibrium is determined. In the consumer sector, equilibrium occurs when the marginal rate of substitution of one item, say X, for another commodity, say Y, equals the price ratio of those two commodities (MRSxy = Px/Py). When the marginal rate of transformation between these two commodities equals their price ratio (MRTxy = Px/Py), the production sector can reach equilibrium.
MRSXy = MRTXy = PXPy
The consumption and production equilibrium conditions are not accidental in an open economic system, but international trade causes changes between production and demand in each trading nation. The value of exports becomes exactly equal to the value of imports in the final equilibrium problem.
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Complete Question :
In post-trade equilibrium with Pc = Pw = $20, the wage of workers in relative to the wage of workers in will be equal to?
Mobile shoppers also use barcode scanning apps as a mobile search engine for locating product reviews and price comparisons while shopping in stores. this practice is called ________.
While shopping in shops, mobile customers utilise barcode scanning applications as a mobile search engine to get product reviews and pricing comparisons. This method is known as Showrooming
Showrooming is the activity of looking at products at a physical store or other offline location and subsequently purchasing them online, sometimes at a lesser cost. Because they do not have the same overhead costs as brick and mortar establishments, online retailers frequently offer lower prices.What does showroom conduct entail?We suggest that showrooming behaviour, which involves a customer visiting a physical store to try things before placing an order at an online retailer, can assist to lessen the product, procedural, and psychological concerns related to making a straight online purchase (Rapp et al., 2015).to learn more about Showrooming click the links
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A decision to carry out one of the activities in the value chain internally rather than to purchase externally from a supplier is a?
A decision to carry out one of the activities in the value chain internally rather than to purchase externally from a supplier is a outsourcing decision.
A make-or-buy decision, also known as an outsourcing decision, contrasts the costs and benefits of creating a necessary good or service in-house with those of using an outside supplier for the relevant resources.
Joint goods are two or more products created from a single input. The split-off point designates the stage of the production process at which each joint product may be distinguished as a distinct product.
Conversion costs are calculated as follows: direct labour costs plus manufacturing overheads, cost of fuel and energy, cost of labour, cost of warehousing or storage, cost of transportation, and cost of capital. further reading. Higher margins from in-house production are among the advantages.
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____ are the total of all costs that a buyer and seller incur as they gather information and negotiate a purchase-and-sale transaction.
The sum of all expenses a buyer and seller incur when researching and negotiating a purchase and sale is known as the "transaction costs."
Costs associated with buying or selling a good or service are known as transaction costs. The labor involved in bringing a product or service to market is represented by transaction costs, and this labor has given rise to entire industries devoted to facilitating transactions. Broker commissions and spreads, or the price difference between the price the dealer paid for a security and the amount the buyer pays, are considered transaction expenses in the financial sense. In addition to closing costs like title search fees, appraisal fees, and government fees, there are transaction costs associated with purchasing and selling real estate. These costs include the agent's compensation.
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Prepare the (1) income statement and (2) statement of owner's equity for the year ended december 31, and (3) balance sheet at december 31. the stark, capital account balance was $24,800 on december 31 of the prior year.
The preparation of the financial statements of Stark Company is as follows:
1) Stark Company
Income StatementFor the year ended December 31
Services revenue $20,000
Interest expense 500
Wages expense 7,500
Depreciation expense 2,000
Insurance expense 1,800
Utilities expense 1,300
Supplies expense 200 $13,300
Net income $6,700
2) Stark Company
Statement of Owner's EquityFor the year ended December 31
Stark, Capital $24,800
Stark, Withdrawals (3,000)
Net Income 6,700
Stark, Capital $28,500
3) Stark Company
Balance SheetAt December 31
Assets
Current assets:Cash $10,000
Accounts receivable 4,000
Supplies 800
Prepaid insurance 2,500
Long-term assets:Buildings 40,000
Accumulated depreciation 15,000 $25,000
Total assets $42,300
Liabilities and Equity:
Current liabilities:Accounts payable $1,500
Wages payable 400
Unearned revenue 800
Interest payable 100
Total current liabilities $2,800
Long-term liabilities:Notes payable $ 11,000
Total liabilities $13,800
Equity:Stark, Capital $28,500
Total liabilities and Capital $42,300
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Question Completion:Accounts payable 1,500
Wages payable 400
Unearned revenue 800
Interest payable 100
Notes payable $ 11,000
Stark, Capital 24,800
Stark, Withdrawals 3,000
Cash 10,000
Accounts receivable 4,000
Supplies 800
Prepaid insurance 2,500
Buildings 40,000
Accumulated depreciation-Buildings $ 15,000
Services revenue 20,000
Interest expense 500
Wages expense 7,500
Depreciation expense-Buildings 2,000
Insurance expense 1,800
Utilities expense 1,300
Supplies expense 200
Cash and other assets that are expected to be converted to cash or sold or used up within one year or less through the normal operations of the business are called ______.
Cash and other assets that are expected to be converted to cash or sold or used up within one year or less through the normal operations of the business are called current assets.
What are the current assets?
Current assets refers to the cash and other assets that are expected to be converted to cash within a year.
Current assets are any assets that can reasonably be expected to be converted into cash within one year. It may include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities etc.
Basically, current assets have short-term nature and can be transformed into cash form within a span of a year or less.
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Personal papers are documentary materials of a private or nonpublic character that do not relate to, or have an effect on, the conduct of agency business. True or false?.
It is true that personal papers are official records with a private or nonpublic nature that have no bearing on how an agency conducts business.
Documentary materials used solely for personal purposes are referred to as personal papers. They consist of the following types of content:
Documents produced prior to joining the government service: files from prior employment, political materials, and reference filesPrivate documents created, received, or brought into the office include family and personal correspondence, records of work-related, extracurricular, or political activity, book and article manuscripts, drafts, and volunteer and community service records.Learn more about personal document https://brainly.com/question/4119391
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What challenges do managers of these warehouses face when the unemployment rate is low? when the rate is high?
The challenges that warehouse managers face when the unemployment rate is low is to reduce the supply of labor available to fill the job openings.
When there is an increase in the unemployment rate, there can be significant impacts on the business, such as a reduction in the purchasing power of consumers and, consequently, a lower turnover of stock.
What strategies should managers develop to deal with unemployment rates?It is essential that there is an active management of talent in the organization, that is, managers must seek to reduce employee turnover by improving working conditions and benefits, positively altering the employee's perception, which increases the sense of appreciation of the your job.
Therefore, there are necessary strategies that must be developed to reduce the risks associated with high or low unemployment rates, so that these situations do not significantly impact the business and put an organization's operations at risk.
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Airbus’ decision to compete head-to-head with boeing by developing the a330 and a340 was made by ______ managers. ______ managers then executed these plans by producing the aircraft on the factory floor. These production managers were supervised by ______ managers.
Top; First-line; Middle Managers
Airbus’ decision to compete head-to-head with Boeing by developing the a330 and a340 was made by TOP managers. FIRST-LINE managers then executed these plans by producing the aircraft on the factory floor. These production managers were supervised by MIDDLE managers.
TOP MANAGERS: The entire organization must be under the authority and supervision of top-level management.
MIDDLE MANAGERS: Middle-level managers are in charge of carrying out organizational plans that adhere to corporate policies. They serve as a link between top-level and lower-level management.
FIRST-LINE MANAGERS: A manager who works closely with people at the lowest level of an organization.
Top; First-line; Middle Managers
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Workers formed unions and eventually these were recognized as a legal entity having the right of _________________ .
Workers formed unions and eventually these were recognized as a legal entity having the right of collective bargaining.
Why is it called collective bargaining?
Beatrice Webb, a pioneer in the field of industrial relations in Britain, coined the term "collective bargaining" in 1891. It alludes to the kinds of collective bargaining and agreements that have been in place since since the development of trade unions in the 18th century.What is an example of collective bargaining?
Employees can bargain collectively with their unions for more favorable terms. An illustration would be when factory workers use their union to bargain for higher wages.
What are the 4 types of collective bargaining?
Collective bargaining comes in a variety of forms, such as composite concessionary, distributive, integrative, and productivity bargaining.
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A country with gross national income per capita of $1,000 is classified by the world bank as a(n)?
Lower middle-income economies are those that had a GNI per capita between $1,086 and $4,255; upper middle-income economies are those that had a GNI per capita between $4,256 and $13,205; and high-income economies are those that had a GNI per capita of $13,205 or more.
What is Gross National Income?
The definition of gross national income (GNI) is gross domestic product + net foreign receipts from employee remuneration, property income, and net taxes less production subsidies. Employee salaries that are payable from abroad are those that are earned by locals who essentially reside within the economic territory but work abroad (this frequently occurs in border regions) or by people who temporarily live and work abroad (seasonal workers), but whose primary economic interest is still in their home country. Interest, dividends, and all (or a portion of) the retained earnings of foreign companies that are wholly (or partially) owned by resident companies are all included in property income that is due from or payable to foreign parties (and vice versa).
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Complete Question
_________are the source of a firm's __________, which are the source of the firm's __________.
The resources are the source of a firm's capabilities, which are the source of the firm's core competencies RCC.
How Do You Define Resource?In the corporate world, resources are converted into useful goods or services. The infrastructure, labor force, armed forces, and natural wealth of a nation is employed for the development of its economy and political system as well as for the benefit of its citizens. Numerous fields, including economics, business, the environment, and human society, have used the concept of resources.
Three characteristics are shared by resources:Utility: Resources are employed to meet customer needs.
Limited accessibility: The supply of resources is insufficient compared to the demand.
Potential for depletion: As resources are used up, their availability decreases progressively.
Depending on their source, resources can be classed in a variety of ways, such as biotic or abiotic, renewable or non-renewable, and potential or actual.
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At the beginning of the conversation, norio wants to discuss sushi with michael, but michael is more interested in getting the contract signed. Based on what you’ve learned about global management, it seems michael was not cognizant of norio coming from a.
Based on global management, it seems Michael was not cognizant of Norio coming from a high-context culture.
What is global management?Global management can be defined as an international business practice in which a business organization (company) utilizes its employees (management team) and resources to carry out its business on an international level.
What is a high-context culture?A high-context culture can be defined as a type of cultural communication in which the people focuses on underlying context and situational cues, meaning, nonverbal cues, and tone of a message, rather than just the words themselves when communicating with others.
In this context, we can reasonably infer and logically deduce that it seems Michael was not cognizant of Norio coming from a high-context culture because he is exhibiting low-context culture characteristics, by being more interested in signing a contract.
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Complete Question:
At the beginning of the conversation, Norio wanted to discuss sushi with Michael, but Michael is more interested in getting the contract signed. Based on what you've learned about global management, it seems Michael was not cognizant of Norio coming from a ______.
National income and product data are generally revised. what effects would the following revisions have on consumption, investment, government purchases, net exports, and gdp?
The effects are:
1) There will be a $24 million boost in GDP and consumption.
2) Net exports will decrease by $29 000 while consumption rises by $29 000. GDP stays the same.
3) The GDP and investment will both rise by $12.43 million.
2) Net exports will fall by $23.12 million, while investment rises by that same amount. GDP stays the same.
Complete Question: National income and product data are generally revised. What effects would the following revisions have on consumption, investment, government purchases, net exports, and GDP?
1.) It is discovered that consumers bought $24 million more laptops than previously thought. The computers were manufactured in California.
2.) It is discovered that consumers bought $29 thousand more laptops than previously thought. The computers were manufactured in China.
3.) It is discovered that businesses bought $12.43 million more laptops than previously thought. The computers were manufactured in California.
4.) It is discovered that businesses bought $23.12 million in more laptops than previously thought. The computers were manufactured in China.
National Income: The whole of a country's current production income, comprising interest, rental income, business after-tax profits, and employee remuneration, is known as National Income.
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The return on assets for your small business was 11.2% last year and 12.6% this year. your return on assets:____
The return on assets for your small business was 11.2% last year and 12.6% this year. your return on assets: improved.
What is return on assets?Return on assets can be defined as a percentage or ratio that help to show how well a company is doing as to whether they are making profit or making loss from their assets.
Return on assets calculated using this formula
Return on assets =Net income/Total assets
Since the return on assets for the business was previously 11.2% in which this year it was 12.6% this means that the business is profitable and has improved due to the increase in percentage which is 1.4% (12.6%-11.2%).
Therefore the return on assets for your small business was 11.2% last year and 12.6% this year. your return on assets: improved.
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The federal reserve system can do all of the following except:_______
a. raise
b. interest
c. rates
The Federal Reserve System can do all the given options except A. lender of last resort for consumers.
What does the federal reserve system do?The federal reserve system of the United States is the central bank of the nation and as such, they engage in services like check clearing and regulating the money supply.
They also act as a lender of last resort to banks in order to ensure that they don't fail. The Fed does not lend money to consumers directly so this is not one of their roles.
Options for this question:
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Choosing to work an extra hour of overtime is an example of? thinking at the margin. efficiency. equity. market equilibrium.
Choosing to work an extra hour of overtime is considered an example of thinking at the margin.
Thinking at the margin refers to thinking about the next step forward. Here margin implies additional. So this is derived when something extra is consumed or produced. Thinking at the margin is also key in deciding the optimal amount of something to buy or an activity to engage in.
Suppose when a person chooses to work an extra hour of overtime this becomes an example of thinking at the margin. So when a person starts thinking on the margin, they notice that, for many decisions the margin is more important than the average.
Hence, option A is correct.
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Jackson's catering services sold cookies to the local college. the college paid immediately. record this transaction in jackson's accounting equation by:_____.
Jackson's catering services sold cookies to the local college. the college paid immediately. record this transaction in Jackson's accounting equation by increasing Cash; Increasing Revenues
This is further explained below.
What are Increasing Revenues?Generally, The rise in a firm's sales from one quarter to the next is referred to as the revenue growth of the company.
Revenue growth, when expressed as a percentage, depicts the gains and reductions over time, which helps discover patterns in the company's performance.
In conclusion, The neighborhood university purchased cookies from Jackson's catering services.
The college made the payment right away. Jackson's accounting equation should be updated to reflect the effects of this transaction by raising Cash and Increasing Revenues.
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Gertrude company receives $15,200 relating to its installment note receivable; of this amount $9,000 represents interest. in its statement of cash flows, this inflow should be reported as a(n):________
Investing activity inflow will be $6200 whereas operating inflow will be $9000. The net amount of cash and cash equivalents coming into and going out of a business is referred to as cash flow. Receiving money represents inflows.
The cash generated or spent in relation to investment activities is shown in the cash flow from investing activities portion of the cash flow statement. Buying tangible assets, investing in securities, or selling securities or assets are all examples of investing activity.
Investors view the cash flow statement as a useful indicator of an entity's profitability and long-term prospects. It can be useful to assess whether the business has enough money to cover its expenses.
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The difference between the concept of a company mission statement and the concept of a strategic vision is that:__________
The difference between the concept of a company's mission statement and the concept of a strategic vision is that the mission refers to the scope and purpose of a company, whereas the strategic vision refers to the direction of the company in the market, with a focus on the micro and macroenvironment.
What is strategic vision?It corresponds to the ability to manage organizational resources in favor of positioning and competitiveness in the market, which will be reverted to the organization in the form of profitability. The organizational strategy corresponds to the document through which action plans will be developed for a company to achieve its objectives and goals in the market.
Therefore, the mission statement corresponds to the purpose of an organization in the market, it is the statement of the reason for its existence, which must explain the company's identity in an objective way to its stakeholders, while the strategic vision is an internal document to be carried out of the goals and objectives determined for a period.
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A decision to consume more of one good necessarily involves a decision to consume less of another good. the benefits of the highest-valued good foregone represent:_____.
A decision to consume more of one good necessarily involves a decision to consume less of another good. the benefits of the highest-valued good foregone represent Opportunity Cost.
What does Opportunity cost implies?Opportunity cost is the benefit lost when one option is chosen over another. The idea is helpful just as a suggestion to look at all sensible options prior to going with a choice.
The term is generally applied to the choice to exhaust supports now, as opposed to money management the assets until a later date. Models are: Take some time off now, or set aside the cash and put it in a house.
Set off for college currently, in order to create an enormous return from the professional education quite a long while later on. Pay down obligation now, or utilize the cash to purchase new resources that could be utilized to create extra benefits.
Therefore It is not difficult to erroneously incorporate or prohibit costs in an opportunity cost examination.
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An organization looking for general agreement on ethical practices might take what step?
An organization looking for general agreement on ethical practices might: establish an ethical code of conduct.
What is establish an ethical code of conduct?Ethical code of conduct can be defined as a set of guidelines, policy, rules and regulation that a person is expected to follow and abide by in an organization.
This code of conduct enables us to know the organization norms and values as well what is right and what is wrong which in turn means that it enables us to know the right things to do and thing to to avoid.
The code of conduct encourage ethical act which is to be honest and to have integrity among others and as well discourage unethical behavior in an organization which is why most organization has ethical code of conduct that enables their employee or workers to known the ethical ways they should behave.
Therefore an organization looking for general agreement on ethical practices might: establish an ethical code of conduct.
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If 400,000 people each receive an average refund of $2,300, based on an interest rate of:_______
If 400,000 people each receive an average refund of $2,300, based on an interest rate of 4 %. An interest rate is a fee that a lender charges to a borrower; it is expressed as a percentage of the principal, or the loaned amount.
Understanding of interest ratesInterest is essentially a charge made to the borrower for using a resource. Money, goods, vehicles, and real estate are all examples of lent assets. There are possibilities to consider higher interest rates as the "cost of money" because they make borrowing the same amount of money even more expensive.
Therefore, interest rates are a component of the majority of loan and borrowing agreements. People take out loans to pay for college tuition, start businesses, finance initiatives, and buy homes.
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If two duopolists can stick to a cartel agreement ot boost their prices, then both?
When two duopolists successfully enforce a cartel agreement to raise their rates, both make more money than they would have otherwise.
A cartel is a collection of producers who cooperate to safeguard their interests. When a few significant producers choose to work together on some elements of their market, cartels are formed. Once established, cartels can set prices for its members to prevent price competition.
Oligopolistic businesses join cartels to gain more market sway, and the group's members collaborate to decide on the volume of output and/or price each member will produce. The cartel members might act like monopolists because of their cooperation.
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If the company has a return on assets ratio of 25 nd net income is $750,000, what is the total asset balance?
If the company has a return on assets ratio of 25 and net income is $750,000. The total asset balance = $3,000,000
What is meant by an Asset?A resource having economic worth that a person, business, or nation owns or administers with the hope that it may one day be valuable is known as an asset.
Assets are included on a company's balance sheet. They are broken down into four groups: present, fixed, financial, and physical. They are purchased or created in an effort to increase a company's worth or enhance its operations.
An asset may be thought of as anything that, in the future, can create cash flow, reduce expenditures, or boost sales, whether it be manufacturing equipment or a patent.
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Accruing a receivable ______ accounts receivable on the balance sheet and ______ revenues on the income statement
Accruing a receivable increases accounts receivable on the balance sheet and increases revenues on the income statement.
In monetary accounting, a balance sheet is a summary of the financial balances of a person or business enterprise, whether or not or not it's a sole proprietorship, a commercial enterprise partnership, a business enterprise, a non-public restrained employer, or a different enterprise inclusive of a central authority or now not-for-income entity. belongings, liabilities, and possession fairness are indexed as of a specific date, consisting of the end of its monetary 12 months.
A balance sheet is frequently described as a "photo of an employer's monetary situation". Of the four basic economic statements, the stability sheet is the most effective declaration that applies to an unmarried factor in the time of a commercial enterprise calendar of 12 months.
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Actual manufacturing overhead costs are recorded in the manufacturing overhead account ______.
The Manufacturing Overhead account is used to track actual manufacturing overhead expenses as they are incurred.
What exactly is manufacturing overhead, and what is it made up of?
Production overhead, factory overhead, and other similar terms all refer to a company's manufacturing processes. In addition to direct labor and material costs, it also covers all additional expenditures incurred in the manufacturing facilities. Overhead in production is hence referred to as an indirect cost.
According to generally accepted accounting standards, the cost of products sold and the manufacturer's inventory must include:
a direct material's price
direct labor expenses
the price of production overhead
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Stakeholder expectations are a mixture of people's opinions, attitudes, and beliefs about what constitutes reasonable business behavior. True or false
Stakeholder expectations are a mixture of people's opinions, attitudes, and beliefs about what constitutes reasonable business behavior. The above statement is true.
What is a Stakeholder?
A stakeholder is a party with interest in a business who has the potential to influence or be affected by it. A typical corporation's investors, employees, clients, and suppliers make up its main constituencies.
Investors, employees, customers, suppliers, communities, governments, or trade groups are examples of typical stakeholders. Stakeholders in an entity can be either internal or external to the company.
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