Iwasaki's letter is primarily a reaction to Western governments gaining access to Japanese markets through the imposition of laissez-faire economic regimes.
Why did trading nations want to engage with Japan? What was Matthew Perry's role in Japan, and what impact did he have?
They wanted to be able to refuel in Japan while sailing to and from China and other East Asian destinations. He led a naval force that sailed into Yedo and Tokyo Bay, requesting trade privileges.
While the US hoped that embargoes on oil and other key goods would persuade Japan to halt its expansionism, the sanctions and other penalties actually convinced Japan to stand firm and incited public outrage against continued Western meddling in Asian affairs.
Therefore, Western governments gained access to Japan's markets through the imposition of free-market economic regimes.
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problem1answered. problem2answered.this problem is current being displayed. problem3 question content areacool taste company recorded $2,800 in sales on account for the week. what effect does this transaction have on the accounting equation?
The AreaCool Taste Company's transaction to record $2,800 in sales on profile for the week seems to have the following effects on assets, liabilities, and equity in the accounting equation.
Explain what asset means.Resources used by either a person or a business are considered assets. For instance, a person's personal assets may consist of their professional background or a life insurance coverage. In contrast, a company's assets are things that it can use to make money.
What is not a strength?The resources that a company owns (such as money, accounts receivable, and vehicles) are known as its assets, but the loan that is taken does not constitute an asset.
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data centers managed by a third party that rents out space to multiple organizational customers are known as
The answer is collocation facilities. Data centres managed by a third party that rents out space to multiple organizational customers are known as Collocation facilities.
A collocation facility offers businesses an off-site location to store their data, with professionals on call around the clock to handle any emergency system outages or security breaches. The majority of internal solutions and colocation services differ significantly from one another in terms of power as well. While collocation service providers offer a variety of power feeds, different generator systems, and on-site fuel reserves, in-house data centres may just have the barest necessities (an average cooling system and a small backup power source).
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Answer:
Data centers managed by a third party that rents out space to multiple organizational customers are known as colocation centers or colocation data centers. These are physical facilities which provide hosting services for multiple customers, allowing them to store and access their data without the need to purchase or maintain their own infrastructure.
n a perfect world, everyone would have equitable access to education, a good income, and the ability to build wealth. if you had all the money and resources in the world, how would you ensure that everyone has equitable access to education, a good income, and the opportunity to build wealth?
If I had all the money and resources in the world, my approach would be to invest in people and communities, creating opportunities for education, employment, and wealth-building while promoting equality and community engagement.
Some steps i would take-
Invest in education: I would establish and fund high-quality educational institutions in areas where access to education is limited. This would include primary, secondary, and tertiary education, as well as vocational training and lifelong learning opportunities. I would also provide scholarships and other forms of financial support to ensure that everyone has access to education, regardless of their economic background.Create jobs and promote entrepreneurship: I would invest in infrastructure, technology, and other areas that can create jobs and promote entrepreneurship. This would include building new factories, creating new industries, and providing small business loans and other forms of support to entrepreneurs. I would also work with governments and other stakeholders to create policies that promote job creation and entrepreneurship.Provide financial support: I would establish programs that provide financial support to those in need. This would include direct cash transfers, as well as access to credit and other financial instruments that can help people build wealth over time.Promote equality: I would work to promote equality in all areas of life, including education, employment, and access to resources. This would involve supporting policies that promote equality and combat discrimination and inequality in all forms.Foster community engagement: I would work with community leaders and other stakeholders to foster community engagement and ensure that everyone has a voice in decision-making processes that affect their lives. This would involve creating opportunities for dialogue and collaboration, as well as providing resources and support to community-led initiatives.For more such questions on opportunity
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true or false: merchandise inventory is generally converted to cash more quickly than accounts receivable. true false question. true false
Answer: False
Explanation:
item 10 amy is a human resource executive for a manufacturing company that makes a variety of consumer products in several facilities. she is studying u.s. injury and illness trends from the bureau of labor statistics to identify issues the company should address in its human resource policies. as she looks at nationwide trends since 1990, amy identifies one that companies should correct. which trend represents a problem for u.s. employers to address?
Some of the injury and illness trends that have been identified in the past as problematic for U.S. employers include high rates of repetitive motion injuries, musculoskeletal disorders, and injuries related to slips, trips, and falls.
It is important for employers to address these issues by implementing appropriate training programs, ergonomic equipment, and safety protocols to minimize the risk of workplace injuries and illnesses. It is also important to comply with regulations and reporting requirements to ensure that accurate data is available for analysis and improvement.
The Bureau of Labor Statistics is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics and serves as a principal agency of the U.S. Federal Statistical System.
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production costs can increase when
Production costs can increase when there are changes in the prices of raw materials, labor, and other factors that contribute to the production process.
Production costs are all of the direct and indirect costs involved in the manufacturing of a product or providing a service. Production costs can increase when there are changes in the several factors that contribute to the production process.
These can include:
1. Increases in the prices of raw materials: If the cost of raw materials, such as metals, chemicals, or agricultural products, increases, this can lead to higher production costs.
2. Increases in labor costs: If the cost of labor increases, for example, due to an increase in minimum wage or the cost of employee benefits, this can also lead to higher production costs.
3. Changes in technology: If there are changes in the technology used in the production process, such as the need for new machinery or software, this can also lead to higher production costs.
4. Increases in transportation costs: If the cost of transporting raw materials or finished products increases, this can also lead to higher production costs.
Overall, there are many factors that can contribute to an increase in production costs, and it is important for businesses to be aware of these factors in order to make informed decisions about their production processes.
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if 360,000 people each receive an average refund of $1,800, based on an annual interest rate of 3 percent, what would be the lost annual income from savings on those refunds?
The lost annual income from savings on those refunds would be $19,440,000.
To calculate the lost annual income from savings on those refunds, we need to first determine the total amount of money refunded, and then multiply it by the annual interest rate.
The total amount refunded would be:
360,000 people x $1,800/person = $648,000,000
To calculate the lost annual income from savings, we need to multiply the total amount refunded by the annual interest rate of 3 percent:
$648,000,000 x 0.03 = $19,440,000
Therefore, the lost annual income from savings on those refunds would be $19,440,000.
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sweet catering completed the following selected transactions during may 2016: may 1: prepaid rent for three months, $2,700 may 5: received and paid electricity bill, $210 may 9: received cash for meals served to customers, $3,770 may 14: paid cash for kitchen equipment, $3,180 may 23: served a banquet on account, $1,960 may 31: made the adjusting entry for rent (from may 1). may 31: accrued salary expense, $3,590 may 31: recorded depreciation for may on kitchen equipment, $670 if sweet catering had recorded transactions using the cash method, how much net income (loss) would they have recorded for the month of may? if there is a loss, enter it with parentheses or a negative sign.
Using the cash method of accounting, Sweet Catering would only record transactions when cash is received or paid.
Therefore, the transactions that would affect net income for the month of May are as follows:
Received cash for meals served to customers: $3,770
Paid cash for kitchen equipment: $3,180
Received and paid electricity bill: $210
Net income for the month of May using the cash method of accounting would be the revenue from meals served ($3,770) minus the expenses for kitchen equipment ($3,180) and electricity ($210), which is $380.
There is no adjustment for prepaid rent or depreciation under the cash method, and the banquet served on the account and the accrued salary expense are not recorded until cash is received or paid.
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Rank each of the four statements with regards to whether the economic organizations in each statement are more market-oriented or part of a planned economy?
the ranking is like the following:
1. D
2.A
3.C
4.B
Market economy: This refers to the setting of price and quantity in accordance with the movements and intersection of supply and demand. The production factors are privately owned.
Planned economy: This refers to the setting of price and quantity in accordance with a decision made by the government. Government ownership, not private ownership, exists for the factors of production.
Ranking:
1. Buyers and sellers make all production/consumption decisions.
2. The government attempts to induce certain production/consumption decisions using monetary incentives.
3. The government regulates some production/consumption decisions.
4. The government makes all production/consumption decisions.
The ranking is made from market oriented activity to planned economy activity.
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complete question:
Rank each of the four statements with regards to whether the economic organizations in each statement are more market-oriented or part of a planned economy?
A. The government attempts to induce certain production/consumption decisions using monetary incentives.
B. The government makes all production/consumption decisions.
C. The government regulates some production/consumption decisions.
D. Buyers and sellers make all production/consumption decisions.
which of the following statements regarding measures of process performance is true? group of answer choices while percent value-added time can exceed 100%, efficiency has a maximum of 100%. efficiency will always be greater than percent value-added time. efficiency and percent value-added time can never reach 100% at the same time. while efficiency can exceed 100%, percent value-added time has a maximum of 100%.
The true statement on metrics of process performance is that efficiency has a limit of 100%, whereas percent value-added time can go above 100%.
The true statement on measurements of process performance is that while percent value-added time can go over 100%, efficiency has a limit of 100%. By dividing the actual output by the standard output and multiplying the result by 100, efficiency is determined. A process that is operating at 100% efficiency is generating all of its potential output. The ratio of value-added time to total cycle time, on the other hand, is known as percent value-added time. If the value-added time is more than the whole cycle time, this ratio can be greater than 100%. This proves that the maximisation of efficiency at 100% is true, as opposed to the other claims, which are false.
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an nfl quarterback just signed a contract providing $3 million per year paid at the end of every year for 5 years. the interest rate is 10% per year. what is the value of this contract today? answer in millions of dollars with 2 decimals.
The value of the contract today is $1.14 million (rounded to two decimal places).
To find the present value of the contract, we need to discount the future payments by the interest rate. We can use the formula for the present value of an annuity to calculate this:
[tex]PV = Payment x (1 - 1/(1+r)^n) / r[/tex]
where PV is the present value, Payment is the annual payment, r is the interest rate, and n is the number of years.
Plugging in the values given, we get:
[tex]PV = 3 x (1 - 1/(1+0.1)^5) / 0.1[/tex]
PV = 3 x (1 - 0.6209)
PV = 3 x 0.3791
PV = 1.1373
Therefore, the value of the contract today is $1.14 million (rounded to two decimal places).
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_____ inflation happens when increases in production costs augment the costs of final goods and services.
Cost-push inflation happens when increases in production costs augment the costs of final goods and services.
This type of inflation is caused by an increase in the costs of production, which leads to a decrease in the supply of final goods and services. As a result, the prices of these goods and services increase, leading to inflation. Cost-push inflation can be caused by factors such as an increase in the prices of raw materials, labor costs, or taxes.
It is important to note that cost-push inflation is different from demand-pull inflation, which occurs when there is an increase in demand for goods and services, leading to an increase in their prices.
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suppose that you worked in an organization in which employees had two main religions: half of the employees were evangelical christians, and half of the employees were muslim. the evangelical christians ran the company, and they announced that there would be no time off for muslim holidays. instead, everyone in the organization would be given time off at christmas and easter. this policy creates
The correct option is A. A toxic environment for Muslims By declaring holidays for Christian festivals but not declaring holidays for Muslim festivals the Management is discriminating against Muslims and this creates a toxic environment for Muslims.
Environment (systems), is the environment of a physical machine that may engage with the system by exchanging mass, energy, or different properties. constructed environment, built environment that offers a place for human pastime, starting from the big-scale civic environment to the private places.
The natural surroundings or herbal global encompasses all living and non-dwelling topics taking place actually, which means in this situation not artificial. The time period is most customarily carried out to the Earth or a few components of Earth. these surroundings encompass the interaction of all dwelling species, weather, climate, and natural assets that have an effect on human survival and economic hobby.
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Complete Question:
Suppose that you worked in an organization in which employees had two main religions: half of the employees were evangelical Christians, and half of the employees were Muslim. The evangelical Christians ran the company, and they announced that there would be no time off for Muslim holidays. Instead, everyone in the organization would be given time off at Christmas and Easter. This policy creates
options for answers are:-
A). a toxic environment for Muslims
B). a positive environment for all employees
C). a toxic environment for all employees
D). a toxic environment for Christians
two historical leaders who practiced different leadership styles
Self-assured and endearing are traits of charismatic leaders.
Transformative leaders solicit supporters with ideas.
What is leadership?Leadership is crucial because it encourages, inspires, and sets an example for others to make the country a safer place. Managers include a vision, offer a course of action, and cultivate a close bond with her followers.
The primary driver that separates the two is that, whereas charisma is centered on the leader, Transformative performance is constructed around like ideas and typically incorporates involvement from the current roster, not only the leader.
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as an industry enters the decline stage,: a. rivalry among established companies usually decreases. b. capacity reduces. c. growth becomes negative.
As an industry enters the decline stage c. Growth becomes negative
The decline stage comes after the growth, maturity, and saturation stages in the industrial life cycle. As consumers begin to favor newer or more inventive commodities, the industry goes through a period of declining demand and even growth. Because demand, sales, and profits fall as the industry moves into the decline stage, the growth rate also turns negative.
The industry may experience more rivalry at this stage from inferior goods or services, which could further impede growth and market share. The survival of many businesses in the struggling industry may be difficult, and some may even fail. To continue growth, some businesses may be able to adjust to the shifting market conditions by diversifying their product portfolios or pursuing new markets.
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you adjusted a comparable property by $39,000. if the original list price was $419,000, what was the percentage change for this adjustment?
Adjusted a comparable property by $39,000. if the original list price was $419,000. The percentage change for this adjustment is the 90.6921.
What is comparable property?The term comparable property refers to the similarity and the difference on the local terminology. It was the support of the valuation. It was the valuation on the terms as to identify the result.
percentage change formula is the comparable property:
comparable property by $39,000
original list price was $419,000.
Difference = Old - New
Difference = $39,000 - $419,000
Difference = 380,000
percentage change = Increase ÷ Original Number × 100.
380,000 ÷ $419,000 × 100.
90.69
As a result, the significance of the comparable property are the aforementioned.
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which of the following are ways to enhance the development of capacity strategies? multiple select question. make sure the system is capable of meeting all demand during peak periods. continuously increase capacity to exploit economies of scale. consider the overall impact on the system and environment. decide whether to use a following or leading strategy.
The following are ways to enhance the development of capacity strategies.
continuously increase capacity to exploit economies of scale.decide whether to use a following or leading strategy.The correct option is B and D.
Why is capacity strategy important?Capacity planning assists businesses with budgeting and scaling in order to determine optimal levels of operation: Budgeting advantages: Capacity planning aids in determining how services are provided, as well as the appropriate time frames and staffing levels required to meet current demand while covering all operational costs.
Management strategies that are commonly used include lead strategy, lag strategy, match strategy, and dynamic strategy. Businesses can benefit from using this strategy in a variety of ways, including streamlined operations, increased market share, customer retention, and acquisition.
Thus, the ideal selections are B and D.
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if the cost of goods manufactured during the year amounted to $665,000 and annual sales were $998,000, what is gross margin for the year?
$690,000Cost of Manufactured Goods $1,330.00Add: Home Finished Goods 60,000.
Less: Final finished goods 84,000,Cost of goods sold $1,306,000Amount.Sales $1,996,000Less: Cost of goods sold 1,306,000Gross Profit $690,000.Gross Profit is calculated by deducting the production cost of the units sold during the period and the income obtained from the sale of these products. This will be used to cover operating expenses during the period. The formula for gross profit is Gross profit = Revenue - Cost of goods sold. Revenues represent all the positive cash flow earned by a business,while costs include both variable costs and fixed costs. Profit is the amount that remains after factoring in the cash flow in and out of the business.
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salesperson carol arrives at the first showing she has scheduled with prospects mark and melinda. when carol pulls in front of the home, melinda decides immediately that she doesn't want to see the inside. what should carol do?
The best choice is C), which is to call the vendors right away and inform them that you won't be stopping by.
What is a salesperson's job description?The salesperson is in duty of greeting customers, pointing them in the direction of the goods they require, and recording purchases. If you intend to succeed in sales, you must have excellent communication skills. An effective salesperson meets sales targets while being polite and helpful to customers.
Is working in sales a good job?Yes, a job in sales is fantastic. Salespeople frequently have a good career inside their firms and the chance to achieve a high pay. The nicest thing about sales is that everyone can work there. All you need is the motivation to improve your sales abilities as well as the desire to be successful.
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The Complete Question :
Salesperson Carol arrives at the first showing she has scheduled with prospects Mark and Melinda. When Carol pulls in front of the home, Melinda decides immediately that she doesn't want to see the inside. What should Carol do?
A. Tell Melinda that the sellers will be very disappointed if they cancel the appointment.
B. Enumerate the home's special features and hope she changes her mind.
C. Call the sellers immediately and let them know you won't be coming by.
D. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first.
if you tell your bank within 2 days of learning about fraudulent charges you are responsible for a maximum of
If you notify your bank within two days of discovering fraudulent charges, you are only liable for up to fifty dollars.
How may I contest a false charge?erroneous claims: Call the company that issued your credit card, ask them to stop the charges, then ask for a replacement card. Errors in billing If the problem cannot be resolved through communication with the merchant, then try contacting your credit card company to dispute the transaction.
How do you handle unauthorized credit card charges?Make an immediate call to your bank. It's crucial to tell the bank as soon as you find any unauthorized charges in order to reduce your liabilities (s). The bank might receive your notification verbally, in writing, or by phone.
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suppose demand increases by 10 percent. how would you react to this? assume that you can operate only 7 hours per day in regular time.
The demand for everything below, with the exception of: Amount delivered (B). The amount of a good or service that is supplied has no bearing on the amount that is bought of that good.
Which 10 factors influence demand are they?Quantity Demand (QD) = f (Prices of Goods or Services, Prices of Substitute/Complementary Goods and Services, Buyers' Tastes and Preferences, Buyers' Expectations of the Goods' Future Price, Change in Buyers' Real Incomes or Wealth, Buyers' Expectations of their Future Income and Wealth, Number of Buyers, Government).
How do you define "demand Mcq"?A consumer's desire to buy a commodity is referred to as the demand for goods or services.
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the two primary outcomes of interest to ob researchers, employees, and managers are . group of answer choices company profitability and shareholder value job performance and organizational commitment team process and diversity leadership behaviors and leadership style motivation and stress
b) Job performance and organizational commitment are the two main outcomes that ob researchers, employees, and managers are interested in.
What is the organizational commitment?How devoted a team is to its workplace is measured by organizational commitment. High levels of dedication can improve team morale, boost workplace efficiency, and help a business accomplish its goals.
Whether you're a team lead or a team participant, understanding how to develop an organizational culture that prioritizes dedication will improve your capacity to produce results and meet objectives.
The level of involvement and dedication team members have for both their specific roles and the organization is referred to as organizational commitment. It also outlines the various motives for which professionals choose to stay with their current work rather than look for employment elsewhere.
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what is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? market equilibrium rental price
Based on the quantity demanded and supplied of the apartments as shown in table, the following are as follows-
Equilibrium rental price = $2,250
Equilibrium apartments demanded = 12,500
Equilibrium apartments supplied = 12,500
Market equilibrium, in this case, is a state in which the market price is competitively determined so that the quantity of goods or services demanded by buyers equals the quantity of goods or services produced by sellers.
This price, often called the competitive price or market-clearing price, usually does not change unless demand or supply changes. The volume is also called the "competitive volume" or market clearing volume.
However, the concept of equilibrium in economics also applies to imperfectly competitive markets in the form of Nash equilibrium.
In economics, economic equilibrium is a situation in which economic forces such as supply and demand are in equilibrium, and the (equilibrium) values of economic variables do not change without external influences.
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for which pairs of goods is the cross-price elasticity most likely to be positive? group of answer choices peanut butter and jelly pens and pencils digital college textbooks and iphones bicycle frames and bicycle tires
For pens and pencils pairs of goods is the cross-price elasticity most likely to be positive.
The cross elasticity of demand is a term in economics that assesses the responsiveness of one good's quantity sought when the price of another good varies. This statistic, also known as cross-price elasticity of demand, is determined by dividing the percentage change in the amount requested of one item by the percentage change in the price of the other good.
The cross elasticity of demand is an economic term that assesses how responsive one good's demand is when the price of another commodity varies. When demand for one product rises as the price of the substitute good rises, the cross elasticity of demand for substitute goods is always positive. Conversely, the demand for complementary items has a negative cross elasticity.
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the selling price per box for cynthia's cookies is $19.95. fixed costs are $65.000 and the variable cost per box is $9.88 a. what is the break-even quantity? b. if sales last year were 8,200 boxes, what was the net profit?
To find the break-even quantity, we need to determine how many boxes of Cynthia's Cookies must be sold to cover the fixed and variable costs. We can use the following formula:
What is break even quantity ?Break-even quantity = Fixed costs / (Selling price per unit - Variable cost per unit)
Substituting the given values, we get:
Break-even quantity = $65,000 / ($19.95 - $9.88) = 6,535.54
Rounding up to the nearest whole number, the break-even quantity is 6,536 boxes.
Therefore, Cynthia's Cookies needs to sell at least 6,536 boxes to cover all costs and break even.
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a constant-cost, perfectly competitive gadget industry is in long-run equilibrium. a decrease in the number of consumers of gadgets will most likely result in
The correct option is A.
A) a decrease in the price of gadgets.
Consider a market where gadgets are sold, where the equilibrium price is $6 and the equilibrium quantity is 500. The gadget demand curve will shift to the left, increasing the equilibrium price while decreasing the equilibrium quantity. The equilibrium number of devices will be unknown if both modifications in parts c and d take place concurrently. Tin is a key component in the creation of devices, therefore an increase in tin prices will increase production expenses, which would ultimately drive up the price of gadgets on the market. Although the cost of new technology first consumes a large portion of discretionary income, costs eventually tend to drop significantly. There are several factors to explain.
The complete question is :
A constant-cost, perfectly competitive gadget industry is in long-run equilibrium. a decrease in the number of consumers of gadgets will most likely result in
A. a decrease in the price of gadgets.
B. an increase in the number of firms producing gadgets.
C. an increase in the price of gadgets.
D. no change in the equilibrium price of gadgets.
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if manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year?
Subtract the hours of direct labor worked during the same reference period from the overhead costs.
What are overhead expenses?Costs associated with running a business that aren't directly tied to the creation of products or services but are nevertheless necessary. Rent, gas, insurance, legal fees, paper products, promotion, payroll, and expenses are a few examples of overhead expenses.
How do you classify overhead expenses?Overhead costs are ongoing expenditures that support your company but do not generate revenue. Since they are not a part of the business operations that produce income, these charges are frequently referred to as indirect costs.
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verrett corporation is a manufacturer that uses job-order costing. the company has supplied the following data for the just completed year: raw materials purchased on account $ 475,000 raw materials (all direct) requisitioned for use in production $ 476,000 direct labor cost $ 640,000 manufacturing overhead: indirect labor cost $ 174,000 other manufacturing overhead costs incurred $ 498,000 cost of goods manufactured $1,469,000 cost of goods sold (unadjusted) $1,430,000 what is the journal entry to record raw materials used in production?
The required journal entry Raw Materials Inventory [Debit] $476,000 Accounts Payable [Credit] $476,000.
What is a journal entry?A journal entry is a record of a business transaction that is kept in your accounting software. In double-entry bookkeeping, each transaction requires at least two journal entries. Because a transaction can result in numerous changes in a business, a bookkeeper keeps track of all of them with journal entries.
The journal entry to record raw materials used in production is:
Raw Materials Inventory [Debit] $476,000
Accounts Payable [Credit] $476,000
This journal entry reflects the fact that raw materials with a cost of $476,000 were requisitioned for use in production during the year. The Raw Materials Inventory account is debited to record the cost of the materials that were used, and the Accounts Payable account is credited to reflect the fact that the company owes this amount to its suppliers.
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One of your regular customers calls to complain that her take-out order was incorrect and she was double charged for an item she didn't receive. What should you do?
Apologize and tell her you hope she'll order again.
Apologize and offer her a coupon for 50% off her next order.
Find out who messed up the order and make them pay for it."
As a business, it is important to handle customer complaints in a professional and courteous manner. In this situation, the best course of action would be to apologize and offer the customer a coupon for 50% off her next order.
This will help to rectify the situation and show the customer that you value their business and are willing to make things right. It is not appropriate to find out who messed up the order and make them pay for it, as this does not address the customer's concerns and could potentially create a hostile work environment. Remember, regular customers are valuable to a business and it is important to maintain a positive relationship with them.
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which of the following statements is not correct? question 8 options: advocates for drug-interdiction policies that reduce the supply of illegal drugs argue that the demand for illegal drugs may be more responsive in the long run than in the short run. the demand for illegal drugs is price inelastic. drug interdiction efforts that reduce the supply of illegal drugs may increase drug-related crimes. the quantity of illegal drugs demanded is very responsive to changes in price.
Drug interdiction measures, such as making it unlawful to transport narcotics over state lines or prohibiting their sale, restrict the supply of drugs.
Correct. One of the reasons government drug interdiction raises drug-related crime is that it makes it more expensive to purchase the same quantity of drugs since it reduces the supply and drives up the price of drugs. It raises prescription prices and allows suppliers greater discretion over how much to charge for their products. Consumers grow more restless and may develop addictions when prices vary. Overall, the findings show that the demand for illegal substances is, on average, weakly price inelastic—a 10% rise in the price of illegal substances causes a decline in demand of around 9%.
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