Answer: The answer is provided below
Explanation:
The fiscal expansion in the rest of the world will lead to an increase in the world interest rate and a decrease in the domestic investment.
As a result, a rise in the world interest rate will lead to an increase in the national income and also lower the nominal exchange rate.
The diagram has been attached.
Marks Corporation has two operating departments, Drilling and Grinding, and an office. The three categories of office expenses are allocated to the two departments using different allocation bases. The following information is available for the current period: Office Expenses Total Allocation Basis Salaries $ 30,000 Number of employees Depreciation 20,000 Cost of goods sold Advertising 40,000 Net sales Item Drilling Grinding Total Number of employees 1,000 1,500 2,500 Net sales $ 325,000 $ 475,000 $ 800,000 Cost of goods sold $ 75,000 $ 125,000 $ 200,000 The amount of salaries that should be allocated to Grinding for the current period is:
Answer:
Allocated salary to Grinding = $18,000
Explanation:
The Salary would be allocated between the department using the number f employees as the basis of allocation. This is so because number of employees would be a reasonable factory that influences the amount incurred as salary expense.
This is done as follows:
Allocated Salary expense =
Number of employee in a department/Total employee× Salary
Allocated salary to Grinding Department
= 1500/2500× $30,000=$18,000
Allocated salary to Grinding = $18,000
Bacrometer, Inc., makes part no. 566 on one of its production lines. Each month Bacrometer makes 6,000 of part no. 566 at a variable cost of $4 per part. Bacrometer has been provided a bid for part no. 566 from another manufacturer that will make the part for $5 per part. Bacrometer knows the production line could be rented to another manufacturer for $8,000 per month. Fixed costs associated with the production line will remain unchanged regardless of the company's decision.
a. Compute the incremental cost to make with the incremental cost to buy. Remember the incremental cost to make includes the opportunity cost of the foregone rent revenue.b. Should Bacrometer continue to make part no. 566?
Answer:
A. Incremental cost to make $32,000
Incremental cost to buy $30,000
B. Bacrometer should NOT continue to make part no. 566
Explanation:
a. Computation for the incremental cost to make with the incremental cost to buy.
Calculation for Incremental cost to make
Using this formula
Incremental cost to make = Opportunity cost + Variable cost of making
Let plug in the formula
Incremental cost to make= $8,000 + (6,000 x $4)
Incremental cost to make=$8,000+$24,000
Incremental cost to make = $32,000
Therefore Incremental cost to make is $32,000
Calculation for Incremental cost to buy using this formula
Incremental cost to buy = Purchase price per unit x Number of units purchased
Let plug in the formula
Incremental cost to buy= $5 x 6,000
Incremental cost to buy= $30,000
Therefore Incremental cost to buy is $30,000
b. Based on the above calculation Bacrometer should NOT continue to make part no. 566 reason been that the incremental cost to make which has the amount of $32,000 is higher than the incremental cost to buy which has the amount of $30,000.
Wally owns 200 acres of land.Wally offers to sell the land to Robert for $1,500 per acre.Robert replies that he does not need 200 acres of land but would like to buy 40 acres at $1,500 per acre.Wally agrees to sell but does not identify which 40 acres.Later,Wally refuses to sell any land to Robert.What is the result?
A) Robert wins; this is an enforceable contract with complete and definite terms.
B) Robert wins; the UCC will decide which 40 acres are to be sold.
C) Wally wins; the original offer was not intended to be an offer but merely an invitation to negotiate.
D) Wally wins; this agreement is too indefinite since it does not identify which 40 acres are to be sold.
Answer:
D) Wally wins; this agreement is too indefinite since it does not identify which 40 acres are to be sold.
Explanation:
Since in the given situation, wally agrees to sell but here the identification of the land is not mentioned i.e. 40 acres and at the later time the wally refused to sold any land so here wally should wins as the agreement is not definite which type of the land should be sold so it becomes the agreement void
Hence, the correct option is d.
(1) . You have recently been hired as the executive director of a large nonprofit that has been having some problems. The available information points to weak leadership at all levels of the organization. What changes could you make to minimize the impact of leaders’ behaviors? Check all that apply.
A)Design jobs so they are routine, requiring little skill and few decisions.
B) Cut back on the training and development of nonmanagement employees.
C) Hire subordinates who are highly motivated by the organization’s mission.
DDevelop organization-wide policies that govern how employees should do their jobs.
(2). Transformational leadership is receiving a lot of attention. Which of the following is a reason for recent interest in this type of leadership?
A). The ability of a charismatic leader to raise an organization’s profile
B). A desire for more authoritarian managers
C). The ability of technology to replace leadership in many situations
D). The rapidly changing business environment
Answer:
The changes that could be made to minimize the impact of leaders' behaviors in a nonprofit organization are:C) Hire subordinates who are highly motivated by the organization's mission: This would help in creating a positive and productive work environment where employees are passionate about the mission and vision of the organization.
D) Develop organization-wide policies that govern how employees should do their jobs: This would help in providing clear guidelines and expectations to employees, which can help in minimizing the negative impact of leaders' behaviors.
Option A is not recommended because designing jobs that require little skill and few decisions may lead to employees feeling unchallenged and unfulfilled in their roles, which could lead to reduced motivation and productivity. Option B is also not recommended because cutting back on the training and development of nonmanagement employees could lead to a lack of skills and knowledge among employees, which could negatively impact the organization's performance.
2). The recent interest in transformational leadership can be attributed to option D: The rapidly changing business environment. The business environment is constantly evolving, and organizations need leaders who can adapt and respond to changes quickly and effectively. Transformational leaders are known for their ability to inspire and motivate employees to embrace change and work towards achieving organizational goals, which makes them highly desirable in today's fast-paced and dynamic business environment.
What are some period costs related to the manufacture and sale of McDonald's French fries?
Some period costs that related to the manufacture and sale of McDonald's French fries are: Advertising and promotion cost, Distribution cost , Rent and utilities ,Administrative cost.
What is period cost?Period costs can be defined as those expenses that are not related to the production of a product but are rather incurred during the period in which the product is sold.
Some examples of period costs related to the manufacture and sale of McDonald's French fries may include:
Advertising and promotion costs to market the French fries to consumersDistribution costs to get the French fries from the manufacturer to the restaurantsRent and utilities for the restaurant space where the French fries are soldAdministrative costs such as salaries for non-production employees and office expensesTherefore Advertising and promotion cost, Distribution cost , Rent and utilities ,Administrative cost are period cost.
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Which of the following best explains what a futures contract is?
a. a contract preventing the future sale or exchange of a particular good
b. a contract limiting the future liability of one set of partners if a business fails
c. a contract setting the price for the exchange of two foreign currencies
d. a contract setting the price and date for a commodity purchase
Answer:
d. a contract setting the price and date for a commodity purchase
Can someone explain this to me?
Since inflation is already factored into the data, what is the most likely reason that the costs of a doctorate degree rise to such a high level?
The rate at which prices increase over a specific time period is known as inflation.
What is the meaning of Inflation?Inflation is often measured in broad terms, such as the general rise in prices or the rise in a nation's cost of living.
Although low inflation might be detrimental, both levels can hurt the economy. The Fed will adopt the opposite strategy when the economy is having trouble or inflation is too low by cutting interest rates or purchasing assets to boost cash flow.
The main cost of inflation is the erosion of real income, which occurs when prices rise unevenly and cause some customers' purchasing power to decline. For both those who receive and pay fixed interest rates, inflation might over time affect their ability to make purchases.
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What is the difference between final goods and intermediate goods?
A) Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use.
B) Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods.
Final goods and intermediate goods are terms used in economics to distinguish between different types of goods in the production process. Here's a breakdown of the difference between the two:
1. Final Goods:
Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use. These goods are ready for consumption and do not undergo further processing or transformation before reaching the final consumer. Examples of final goods include food products, clothing, electronics, furniture, and vehicles. Final goods are the end result of the production process and are intended for final consumption or use.
2. Intermediate Goods:
Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods. They are not intended for final consumption but are instead used as raw materials, components, or capital goods in the production process. Intermediate goods undergo further processing or transformation before being included in the final goods. Examples of intermediate goods include raw materials like steel or wood, components like circuit boards or engines, and machinery or equipment used in production.
The key distinction between final goods and intermediate goods lies in their purpose and stage in the production process. Final goods are produced for the ultimate satisfaction of consumers' needs and are ready for consumption, while intermediate goods are used in the production of other goods and undergo further processing.
It's important to note that when calculating a country's Gross Domestic Product (GDP), only the value of final goods is considered. Intermediate goods are excluded to avoid double-counting, as their value is already included in the final goods they contribute to. By focusing on final goods, GDP provides a measure of the value of goods and services produced for final consumption in an economy.
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Which of the following best describes a Trial Balance?
A. It is a list of balances in the book.
B. It is a special account.
C. It shows the financial position of the business.
D. It shows all the entries in the books.
Correct answers will be MARK AS BRAINLIEST
Don't answer if you don't know
It is list of balances in the book
Trial balance is recorded in form of listIt includes all the balances present at different accounts of any individualOption A is correct
how many cowboy hats can you fit on your head
Answer:
7
Explanation:
Answer and I give u brainliest and extra pts
Answer:
b
Explanation:
Relix, Inc., is a domestic corporation with the following balance sheet for book and tax purposes at the end of the year before recording any Federal net deferred tax asset or net deferred tax liability.
Tax Debit/(Credit) Book Debit/(Credit)
Assets Cash $500 $500
Accounts receivable 8,000 8,000
Buildings 750,000 750,000
Accumulated depreciation (450,000) (380,000)
Furniture and fixtures 70,000 70,000
Accumulated depreciation (46,000) (38,000)
Total assets $332,500 $410,500
Liabilities Accrued litigation expense $0 ($50,000)
Note payable (78,000) (78,000)
Total liabilities ($78,000) ($128,000)
Stockholders' Equity Paid-in capital ($10,000) ($10,000)
Retained earnings (244,500) (272,500)
Total liabilities and stockholders' equity ($332,500) ($410,500)
Based on this information, determine Relix's net deferred tax asset or net deferred tax liability at year end. Assume a 21% Federal corporate tax rate and no valuation allowance.
Answer:
($3,528)
Explanation:
Calculation to determine Relix's net deferred tax asset or net deferred tax liability at year end.
Beginning of the Year Current year difference End of Year
Building-Accumulated depreciation
($57,000) ($13,000) ($70,000)
($57,000-$70,000=-$13,000)
Furniture and fixtures-Accumulated Depriciation ($4,200) ($3,800) ($8,000)
($4,200-$8,000=$3,800)
Subtotal ($61,200) ($16,800) ($78,000)
($57,000+$4,200=$61,200)
($13,000+$3,800=$16,800)
($70,000+$8,000=$78,000)
Applicable tax rate 21% 21% 21%
Gross deferred tax liability
($12,852) ($16,380)
(21%*$61,200=$12,852)
(21%*$78,000=$16,380)
Change in deferred tax liability ($3,528)
(21%*$16,380)
Therefore net deferred tax liability at year end is ($3,528)
You plan to retire in 30 years and you are investing $250 per month in the BMO Large-Cap Growth mutual fund. The fund has an average annual return of 13.45%. How much will you have at retirement?
Accumulated Balance is given by :
\(A=P\dfrac{(1+i)^n-1}{i}\times (1+i)\)
Here,
n = time period = 30×12 = 360.
\(i=\dfrac{13.45}{100}\times \dfrac{1}{12}=0.0112\)
P = principal price = $250.
Putting all given values in above equation, we get :
\(A=250\times \dfrac{(1+0.0112)^{360}-1}{0.0112}\times (1+0.0112)\\\\A=\$1221659.48\)
Hence, this is the required solution.
Which statement is true regarding monopolistic competition?
Answer:
AR>MR
--------------------------------------
WHERE ARE THE OPTIONS.
The list price of an item is $96.60. The supplier is offering a series trade discount of 10/10/19. Find the net cost.
The net cost of the item is $
(Round to the nearest cent as needed.)
The net cost of the item, after applying the series trade discount, is $63.41.
To calculate the net cost of the item, we need to apply the series trade discount provided. The series trade discount is given as 10/10/19, which means there are three successive discounts applied.
Let's break down the discounts:
The first discount is 10%.The second discount is 10%.The third discount is 19%.To find the net cost, we need to calculate the price after each discount.
Step 1: Apply the first discount of 10%
List price - (10% of list price)
List price - (10/100 * List price)
List price - 0.1 *
List price = 0.9 * List price
Step 2: Apply the second discount of 10%
0.9 * List price - (10% of 0.9 * List price)
0.9 * List price - (10/100 * 0.9 * List price)
0.9 * List price - 0.09 * List price
0.81 * List price
Step 3: Apply the third discount of 19%
0.81 * List price - (19% of 0.81 * List price)
0.81 * List price - (19/100 * 0.81 * List price)
0.81 * List price - 0.1539 * List price
0.6561 * List price
Now, to find the net cost, we multiply the list price by the result of the series of discounts:
Net cost = List price * 0.6561
Given that the list price is $96.60, we can calculate the net cost:
Net cost = $96.60 * 0.6561
Calculating this, we find:
Net cost = $63.41 (rounded to the nearest cent)
Therefore, the net cost of the item, after applying the series trade discount, is $63.41.
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Which resources would be classified as a land factor of production?
A)
milk
B)
petroleum
C)
timber
D)
tractor
E)
workers
Timber and Petroleum can be classified as a land factor of production
Land is part of the four factors of production. The other three factors are Capital, Labour and Entrepreneur.
Let understand clearly that Land refers to anything that comes from the land and serves as resources used to produce goods and services.Capital is the factor that provides the money needed to run the business operation. The reward is Interest.Labour is the factor that helps the business run its day to day operation and this includes workers, staff etc. The reward for labor is Wages and salary.Entrepreneur is the factor that control and manage the other three factor of production. The reward for entrepreneur is Profit.
In conclusion, Petroleum and Timber are part of land and they serves as resources used to provide refined fuel, furniture and so on.
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Which of the following is done by the American government to counteract economic contraction?
Question 3 options:
It may reduce interest rates.
It decreases its own spending for goods and services.
It raises the reserve rate of banks.
It decreases the money supply.
It sells securities through the Federal Reserve Board.
Answer:
It may reduce interest rates.
Explanation:
To boost economic activity, the American government lower interst rates as a fiscal and expansionary policy.
Given the following information for Atlas Travel, prepare a bank reconciliation statement for December 31.
Atlas Travel partial cash ledger (t-account) amounts for December transactions
"Cash Debits/
Deposits" "Cash Credits/
Payments"
$3,725 $9
530 750
980 93
353 134
2,040 960
210
2,250
Atlas Travel had a cash balance of $7,242 on December 31
Atlas Travel received the following bank Statement for December:
Best Bank
Bank Statement for December
Beginning December 1, Balance $4,020
Deposits and other additions:
12/1 $635 EFT
12/5 3,725
12/10 530
12/15 980
12/18 353
12/31 1,800 BC 8,023
Checks and other deductions:
12/8 452 NSF
12/15 (check number 1416) 9
12/19 350 EFT
12/22 (check number 1417) 750
12/29 (check number 1418) 93 EFT is electronic funds transfer
12/31 (check number 1419) 314 BC is bank collection
12/31 45 SC 2,013 NSF is non sufficient funds
December 31 Balance $10,030 SC is service charge
Additional Data:
The EFT deposit was a receipt of rent revenue. The EFT deduction was payment of insurance expense.
The NSF check was received from a customer
The $1800 bank collection was a note receivable
The correct amount of check 1419 is $314. Atlas Travel mistakenly recorded the check for $134
Requirements:
1 Prepare the bank reconciliation.
Atlas Travel
Bank Reconciliation
December 31, 20##
Best Bank Balance, Dec. 31 Atlas Travel Balance Dec 31
Add: Add:
Less: Less:
Adjusted bank balance Adjusted company balance
2 Prepare the two journal entries.
Journal
Date Accounts Post. Ref Debit Credit
Dec. 31
Dec. 31
A bank reconciliation statement is a report that explains the discrepancies between the bank balance in a company's financial records and the balance recorded in the bank's records. These discrepancies arise as a result of errors in a company's accounting system or banking processes.
Below is the given information for Atlas Travel to prepare a bank reconciliation statement for December 31st:Balance per bank statement $3,670Outstanding checks 2,450Deposits in transit 1,350Interest earned on account 20Bank service charge 25Balance per company's books 2,565
The reconciliation statement is presented below:Atlas Travel Bank Reconciliation Statement for December 31st Balance as per bank statement $3,670 Outstanding checks (2,450)Adjusted bank balance $1,220Add deposits in transit 1,350Adjusted balance $2,570
Deduct bank service charges (25)Add interest earned 20Adjusted book balance $2,565The adjusted bank balance is $1,220, obtained by deducting the outstanding checks from the balance as per the bank statement.The adjusted balance is $2,570, obtained by adding the deposits in transit to the adjusted bank balance.
The adjusted book balance is $2,565, obtained by adding the interest earned and deducting the bank service charges from the balance per company's books.
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Printers, smartphones, tablets, and scanners can be found in an office that is
digital dependant
hope Im right
Answer:
Digital Dependent...
Mr. Joseph has identified five different companies in which he is interested in investing, however, he has concerns over the economy and wants to invest in companies with the lowest debt exposure. The following is a list of data for the investments:
Company Total Assets Total Liabilities Net Income
A $10,000,000 $1,000,000 $200,000
B 20,000,000 3,000,000 1,000,000
C 6,000,000 4,000,000 250,000
D 15,000,000 6,000,000 1,600,000
E 30,000,000 22,000,000 4,000,000
Required:
Calculate the debt-to-equity ratio and rank the investments base on least risky to most risky.
Answer and Explanation:
The computation is shown below:
Company Total Assets (a) Total Liabilities (b) Net Income Debt to assets ratio (a÷b) Rank
A $10,000,000 $1,000,000 $200,000 0.1 1
B $20,000,000 $3,000,000 $1,000,000 0.15 2
C $6,000,000 $4,000,000 $250,000 0.666667 4
D $15,000,000 $6,000,000 $1,600,000 0.4 3
E $30,000,000 $22,000,000 $4,000,000 0.733 5
Joyce Murphy runs a courier service in downtown Seattle. She charges clients $0.50 per mile driven. Joyce has determined that if she drives 3,300 miles in a month, her total operating cost is $875. If she drives 4,400 miles in a month, her total operating cost is $1,095. Joyce has used the high-low method to determine that her monthly cost equation is: total monthly cost = $215 + $0.20 per mile driven.
1. Determine how many miles Joyce needs to drive to break even.
2. Calculate Joyce's degree of operating leverage if she drives 4, 200 miles.
3. Suppose Joyce took a week off and her sales for the month decreased by 25 percent. Using the degree of operating leverage, calculate the effect this will have on her profit for that month.
Answer and Explanation:
The computation is given below:
1.
Given that
Charges per mile = $0.50
Variable Cost per mile driven = $0.20
Fixed Cost = $215
So,
Contribution Margin per mile = Charges per mile - Variable Cost per mile driven
$0.50 - $0.20
= $0.30
Break-even units (in miles) = Fixed Cost ÷ Contribution Margin per mile
= $215 ÷ $0.30
= 717 miles
2.
Revenue for 4,200 miles is
= $0.50 × 4,200
= $2,100
And,
Variable Cost = $0.20 × 4,200
= $840
Now
Contribution Margin = Revenue - Variable Cost
= $2,100 - $840
= $1,260
And,
Fixed Cost = $215
So,
Net Income = Revenue - Variable Cost - Fixed Cost
= $2,100 - $840 - $215
= $1,045
So,
Degree of Operating Leverage = Contribution Margin ÷ Net Income
= $1,260 ÷ $1,045
= 1.2057
3.
Degree of Operating Leverage = % Change in Net Income ÷ % Change in Sales
1.2057 = % Change in Net Income ÷ -25%
1.2057 = % Change in Net Income ÷ -0.25
% Change in Net Income = -0.301425
= -30.1425%
A company had net income of $43,000, net sales of $380,500, and average total assets of $220,000. Its profit margin and total asset turnover were, respectively:
a. 11.3%; 1.73
b. 11.3%; 19.5
c. 1.7%; 19.5
d. 1.7%; 11.3
d. 19.5%; 11.3
Answer:
11.3%, 1.73
Explanation:
Net income= 43,000
Net sales= 380,500
Total assests= 220,000
Therefore profit margin can be calculated as follows=
Net income/sales
= 43000/380,500
= 0.113×100
= 11.3%
Total assets turnover can be calculated as follows
= 380,500/220,000
= 1.73
the Hence profit margin is 11.3% and total assets turnover is 1.73
hich best explains how the law of demand affects consumers?
It helps consumers know when prices are going down.
It helps consumers know when prices are going up.
It helps consumers tell producers when prices are too high.
It helps consumers tell producers when to make new goods.
Answer:
It helps consumers tell producers when prices are too high.
Explanation:
The law of demand affirms that an increase in price results in reduced demand. It means that when prices increase, consumers will buy fewer quantities of a product or service. The law of demand shows the relationship between price and the quantity of a product consumers are willing to buy in the market.
Consumers can communicate with producers through the volume of products purchased. When the quantity purchased is low, producers will know the set prices are high.
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 914,000 Credit sales 314,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable $ 139,000 debit Allowance for doubtful accounts 6,400 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 5% of credit sales, (2) 3% of total sales and (3) 8% of year-end accounts receivable.
Answer:
a.
Date Account Title Debit Credit
Dec, 31 Bad debt expense $15,700
Allowance for doubtful expense account $15,700
Working
= 5% * 314,000
= $15,700
b.
Date Account Title Debit Credit
Dec, 31 Bad debt expense $36,840
Allowance for doubtful expense account $36,840
Working
= 3% * (Cash sales + Credit sales)
= 3% * (914,000 + 314,000)
= $36,840
c.
Date Account Title Debit Credit
Dec, 31 Bad debt expense $17,520
Allowance for doubtful expense account $17,520
Working
= (8% * Year end accounts receivable) + Debit balance for Allowance for doubtful account
= (8% * 139,000) + 6,400
= $17,520
Can someone help me?
yeah with what do you need help with
Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 8,988. The FICA tax for social security is 6.2% of the first $128,400 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7,000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1,491.37. Her net pay for the month is: (Round your intermediate calculations to two decimal places.) Multiple Choice $6,566.00 $6,809.04 $5,074.63 $7,366.30 $6,375.04
Answer:
$6,809.04
Explanation:
Calculation to determine what her net pay for the month is
Gross Pay (a) $8,988
Less: Deductions
Social Security Tax $557.26
($8,988 * 6.2%)
Medicare Tax $130.33
($8,988 * 1.45%)
Federal income Tax $1,491.37
Total Deductions (b) $2,178.96
Net Pay (a-b) $6,809.04
($8,988-$2,178.96)
Therefore her net pay for the month is $6,809.04
Shared negative feelings in a group can positively influence task performance when they stem from ________. However, shared negative feelings can hinder performance in a group when they stem from ________.
Shared negative feelings in a group can positively influence task performance when they stem from social category diversity. However, shared negative feelings can hinder performance in a group when they stem from informational diversity. Thus the correct option is B.
What is a group?A group is referred to as a collection of poele come together to form a relationship or connection with each other. These groups mainly form to perform collaborative activities to achieve something.
Shared feelings can both affect the performance of the team positively and negatively. It helps in information exchange as well as gives rise to conflict as well due to disagreement.
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The complete question is probably
Shared negative feelings in a group can positively influence task performance when they stem from ________.However,shared negative feelings can hinder performance in a group when they stem from ________.
A)perceptual distance; job involvement
B)social category diversity; informational diversity
C)team structure; process shifts
D)a source outside of the team; a source inside the team
ursula makes blouses, dresses, and other clothes and sells them in her small shop. she advertises some of the outfits as guest items, hoping that customers might mistakenly assume that they were made by guess, the well-known clothing manufacturer.
The traits of a market economy include private property, freedom, self-interest, competition, and minimal government involvement.
What is Characteristics of a market economy?We'll go over a few traits of market economies now. According to them,
Private ownership of businesses and properties is allowed, and people other than governments are able to take use of it.Freedom: As long as they go by the law, market participants are free to produce, sell, and purchase anything they like.Self-interest: People's desire to maximize their own financial gain by obtaining the lowest prices for the goods and services they need while simultaneously selling their goods to the highest bidder drives the market.Because of producer competition, prices are kept reasonable and efficient production and supply are guaranteed.Government involvement is kept to a minimum in a market economy, but it acts as a neutral arbitrator to ensure fairness and deter monopolies.The Complete Question is market economy.
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Assessment
Which of the following is an example of investing in yourself?
A. Taking the time to learn how to create a budget.
B. Investing your money in the stock market.
C. Planning out your financial goals.
D. Signing up for an online class.
10/10
Answer:
A
Explanation:
The reason is because you can learn new techniques on money saving and budgeting.
LEONE COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit General and administrative expenses Selling expenses Net income $ 84,000 84,000 92.000 $ 3,251,000 $ (8,000) 3,259,000 127.000 603,000 2,529,000
How do you find the cost of goods manufactured?
The cost of goods manufactured (COGM) is the cost of all the products that a company has manufactured during a period.
How to calculateIt is calculated by adding the beginning finished goods inventory to the total manufacturing costs, and then subtracting the ending finished goods inventory.
In the income statement you provided, the cost of goods manufactured is calculated as follows:
COGM = $92,000 + $3,251,000 - $127,000 = $3,224,000
Therefore, the cost of goods manufactured for Leone Company is $3,224,000.
Here is the formula for calculating COGM:
COGM = Beginning finished goods inventory + Total manufacturing costs - Ending finished goods inventory
The total manufacturing costs include direct materials, direct labor, and manufacturing overhead.
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