explain why lifo is not used in process costing.

A market structure in which a few large sellers will dominate the market and have the ability to affect prices in the industry is called an oligopoly.

In an oligopoly, a couple of huge firms overwhelm the market, and they have the ability to impact costs and other market factors. The way of behaving of firms in an oligopoly is associated, implying that they make into account the moves of their adversaries while deciding.

This can prompt complex estimating techniques, item separation, and other serious ways of behaving that may not be available in other market structures. Instances of ventures that are in many cases considered oligopolies incorporate the auto business, broadcast communications, and the aircraft business.

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Complete Question - market structure in which a few large sellers dominate the market and have the ability to affect prices in the industry _______

Investment in capital as well as advancements in technology and human capital are major drivers of labour productivity.

Businesses and the government can raise the labour productivity of their employees by making direct investments in or providing incentives for advances in technology and human or physical resources. An economy can generate more goods and services for the same quantity of labour as labour productivity increases. A bigger number of goods and services can subsequently be consumed for a given amount of labour as a result of this enhanced production. The four key factors that determine an individual's productivity are: (1) strategy, or the capacity for planning; (2) focus, or the capacity for concentrating on one activity at a time; and (3) productive task selection.

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Checklists can also be used to focus on the time dimensions. Thus, option E is correct.

The purpose of checklists is to keep track of projects or jobs and make sure nothing crucial is overlooked while they are being carried out.

In this manner, one ensures that nothing is left out that can affect your outcomes. They also make sure that tasks are carried out in a systematic, orderly manner.

This checklist can be the one that will have the element that will be present to make sure that the task will be performed on a regular basis. Also within the time limit that is present. Therefore, option E is the correct option.

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The question is incomplete, the complete question is:

Checklists can also be used to focus on

a)replacement costs

b)upper control limits

c)histogram

d)design documentation

e)time dimension

The matchup are:

Mission Statement: His company makes professional-quality products that are accessible to the recreational angler. The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it.

Vision Statement: To grow the company by 50% over the next five years.

Strategic Planning: To achieve the goal of growing the company by 50% over the next five years.

Tactical Planning: Her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years.

Operational Planning: Project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down.

In this text, the importance of mission and vision statements, as well as the three levels of planning, is discussed in the context of a fishing lure production company led by CEO and president Dalton Skot. The company's mission is to provide professional-quality products accessible to recreational anglers without sacrificing their retirement savings.

Therefore,  The vision is to help every person reach their highest fishing potential. The company has been successful in keeping control of the business within the family, with Dalton's brother Cooper serving as the vice president of operations and his sister Sloan serving as the new product development manager.

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Fundamentals of Planning A mission statement expresses an organization's reason for being. A vision statement expresses what an organization wishes to become. These mission and vision statements then drive strategic planning, tactical planning, and operational planning. This activity is important because proper planning is essential for providing an organization with the direction and momentum it needs to reach its goals and develop a sustainable competitive advantage. points Skipped eBook The goal of this exercise is to help you to recognize what mission and vision statements, and the three levels of planning, look like in action, and to see how they relate to one another in an organization. References Dalton Skot is the CEO and president of a midsize fishing lure production company. The company has been very successful since its founding five years ago. Dalton has stated that his company makes professional-quality products that are accessible to the recreational angler. A recent article in a popular business magazine quoted him as saying, "The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it.". It looks like the company has done some serious planning to support its "tall tale" of success. Match each term with the correct statement or level of management planning. Tactical Planning N Vision Statement Mission Statement Operational Planning Strategic Planning paints Skipped Match each of the options above to the items below. eBook References His company makes professional-quality products that are accessible to the recreational angler. The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it. To grow the company by 50% over the next five years Her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years. Project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down. Match each of the options above to the items below. His company makes professional-quality products that are accessible to the recreational angler. The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it. To grow the company by 50% over the next five years Her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years. Project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down.

Option C is correct. Taxes are a nonlinear cost that is proportional to order size.

The yearly purchase price is inversely proportional to the order size. As order size increases, the annual ordering cost decreases. Near the EOQ, the overall cost curve is pretty flat. As a result, closely resembling the EOQ may serve as an excellent solution. Total yearly purchase price is self - reliant of order size for a provided annual consumption. The EOQ model calculates the ideal order size based on the sum of having to carry and shortage costs. The expenditure incurred to start creating and procedure a sequence to a provider are referred to as ordering costs. These costs are factored into the calculation of an inventory item's economic order quantity. The following are some examples of ordering costs: The cost of creating a purchase requisition.

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Corporate Social Responsibility (CSR) is the extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their various stakeholders.

Corporate Social Responsibility (CSR) is a business model that goes beyond the traditional goal of maximizing profits and focuses on the broader social and environmental impacts of business activities. It is the extent to which businesses recognize and fulfill their ethical, legal, economic, and philanthropic obligations to their stakeholders, including employees, customers, investors, suppliers, and the community at large.

CSR involves implementing policies and practices that promote sustainability, social justice, and ethical behavior, while balancing the interests of all stakeholders. It is an essential aspect of modern business practices, as companies are expected to operate in a responsible and sustainable manner that goes beyond mere compliance with the law.

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A capitalist economy is a free-market system in which the pursuit of profit drives all trade and compels businesses to operate as effectively as possible in order to hold onto market share.

In capitalism, businesses are owned by private individuals, and these business owners recruit employees in exchange for wages or other compensation. In such an economy, the government has no responsibility for overseeing or assisting markets or businesses. Practically all of the economies in the world incorporate elements of both economic systems and are categorised as mixed economies; pure free-market economies and command economies only exist as theoretical ideas rather than as actual realities. For instance, the government establishes restrictions such as minimum wages and antitrust laws that must be followed, even if the United States permits businesses to regulate their prices and employees to bargain for greater earnings.

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Because the higher the capital per worker the less the economy needs to equip new workers with the same high level of capital. The answer is OPTION A.

Since there is no longer any capital accumulation per effective worker at the steady-state, saving per effective worker sf(k) equals "depreciation" of the effective capital stock. The amount of capital per worker that is stable over time is known as the steady state level of capital. There is neither accumulation nor depletion of capital over time.

This occurs when the per capita capital stock investment equals the per capita capital stock depreciation. A stable population and per capita consumption are prerequisites for a steady state economy. Production rates and depreciation rates are equal to both birth and death rates.  The answer is OPTION A.

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For a marketing firm, Aubrey is carrying out research. She discovers that in order to obtain the aims of the research, it is necessary to...

What is the meaning of she is carrying?

Aubrey is conducting research for a marketing company. Would you like me to carry your luggage for you? She claimed that in order to get the, one must carry something or someone from one place to another while holding them in their hands, arms, or on their back. Trying to put her infant to sleep, she carried her up the stairs.

You may be carrying low, high, petite, huge, or wide, depending on how your bump feels and appears to you and others. low weight versus heavy The gestational height or gestational depth can be used to identify the gender of the fetus. It is said that a lady would give birth to a when she is believed to be carrying high.

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A license is a regulatory approval or permission to make, use, or own something. This is option D.

licensees must collaborate with other licensees when it is in the interest of their customers to do so and share commissions on a pre-agreed basis.

A license is granted by one party to another person based on an agreement between the parties themselves. In the case of a state-issued license, the license is obtained by submitting an application.

Licensee may mean the licensee, or in US tort law, a licensee is a person who is on another person's property even though the property is not open to the public because the owner has permitted the licensee to enter.

Cooperation Broker is a broker who is not a stockbroker. However, the cooperating broker finds a buyer for the auctioned object. As part of the brokerage contract, the cooperating broker receives part of the commission paid upon completion of the sale.

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The factor of production that involves human resources performing the function of raising capital, organizing, managing, and assembling other factors of production, and making basic business policy decisions is known as entrepreneurship.

Entrepreneurship is the process of creating, managing, and developing a new business venture, often by identifying a need in the market and taking risks to fill that need. Entrepreneurs play a critical role in the economy by creating jobs, developing new products and services, and driving innovation.

The entrepreneurial function involves bringing together the other factors of production, such as land, labor, and capital, and applying them to create value and generate profits. Successful entrepreneurship requires a range of skills and attributes, including creativity, risk-taking, leadership, and business acumen.

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The answer is New Employees, A selection committee helps to select new employees as it pertains to hiring.

When you hire someone, you put them to work for you or pay them to perform a specific task. When you hire something, you give the owner money in exchange for the right to use it for a specific amount of time.

Despite the fact that these phrases are occasionally used synonymously, they differ significantly. When a position needs to be filled, hiring takes place. Recruitment is the process of luring outstanding people to your company.

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It is impossible for firms in a monopolisticaly competitive industry because existing businesses might band together to become a monopoly.

Initially, we must distinguish between short-term and long-term consequences.These businesses, when combined as a monopoly, would have positive economic profit in the short term. Yet, over time, this would result in a decline in profit or perhaps a loss. Due to the lack of entry barriers, new companies will enter the market and produce similar but distinct items. These new items, created by new businesses, will draw clients, and as a result, new businesses will share in some of the profits made by already-joined businesses ("monopoly"). So, we might conclude that maintaining this kind of monopoly over the long term is impossible.

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This statement is False. A nation need not have an absolute advantage in the production of a good to have a comparative advantage in it.

Comparative advantage occurs when one nation can produce a good more efficiently and at a lower cost than another nation. This means that even if one nation does not have an absolute advantage in producing a good, it could still have a comparative advantage in it if it can produce it more efficiently and at a lower cost than other nations.

For example, a nation may not have the most advanced technology to produce a good, but it could still have a comparative advantage in producing that good if it had access to cheaper labor or raw materials.

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Rounded to one hundredth of a percent, the annual rate of return is 148.00%.

Rate of return is a measure of the profitability of an investment and is often expressed as a percentage. It is calculated by taking the gain or loss of an investment and dividing it by the original cost of the investment. The rate of return reveals how much money an investor has earned or lost on an investment over a certain period of time.

The annual rate of return is calculated by taking the current account balance ($7700) and dividing it by the total amount of money invested (7 x $750 = $5250). The result is 1.48.

To convert this to a percentage, we multiply by 100. The annual rate of return is therefore 148%. Rounded to one hundredth of a percent, the annual rate of return is 148.00%.

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A system that uses both a process costing system and a job order system will most likely use a hybrid system. Thus the correct option is B.

The method to evaluate the cost of a business is called as Costing sytem which is determined which operations of production incurred how much cost in order to calculate the expenses of a business.

The combined elements of job order costing and process costing are found in A hybrid system. Most companies currently serve a hybrid system and are better able to successfully implement processes while still seeking to meet the requirements of each individual customer.

Therefore, option B is appropriate.

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Consumer surplus of Alice is $5, of Jeff is $16, Nicole is $0, Clair's is $25 and of Roy is $0.

In finance, the consumer surplus is the disparity between the price an user pays for a good and the sum he would be willing to spend instead of leaving without which. It is also referred to as societal surplus and the consumer's surplus. The idea was created by French economist and civil engineer Jules Dupuit in 1844 and later popularized by British economist Alfred Marshall. It was based on the presumption that satisfaction with services (utility) are quantifiable. The overall utility will surpass the total market value because the utility supplied by each successive unit of either an item typically declines as the volume sold rises as well as because the item's price only represents the utility of the final unit acquired as opposed to the utility of all units.

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If the buyer pays within 10 days, they can take a cash discount of $293.20 and owe a net amount of $14,366.80. If they don't pay within 10 days, the full amount of $14,660.00 is due within 4 months.

The term "2/10, n/4" means that the buyer can take a 2% discount if they pay the invoice within a 10 days, otherwise the full amount is due within 4 months (n/4).

To calculate the cash discount, we first need to determine the discount amount:

Discount amount=Invoice amount x Discount rate

Discount amount = $14,660.00 x 0.02 = $293.20

So, if the buyer pays the invoice within 10 days, they can deduct $293.20 from the invoice amount.

To calculate the net amount due if the buyer takes the discount, we subtract the discount amount from the invoice amount:

Net amount due = Invoice amount-Discount amount

Net amount due = $14,660.00 - $293.20

= $14,366.80

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A federal budget surplus occurs when tax revenues exceed government expenditures.

Therefore the answer is b.

A federal budget surplus occurs when tax revenues exceed government expenditures. This means that the government has taken in more money in taxes than it has spent on goods and services and other programs.

A budget surplus is the opposite of a budget deficit, which occurs when government expenditures exceed tax revenues. A budget surplus can be used to pay down the national debt or to fund new programs or tax cuts. However, it is important to note that a federal budget surplus is not an impossibility, as it has occurred in the past. For example, the United States had a budget surplus in the late 1990s during a period of economic growth and fiscal discipline.

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Denny always wants to improve on his last month’s sales performance by at least 10% need for achievement. The answer is OPTION A.

The effectiveness of your sales team over a given time period is referred to as sales performance. One of the most popular methods. For monitoring and managing the work of sales reps from the start to the end is to implement sales performance management. Consistency is the secret to effective sales performance.

Anyone can have a successful sales month, but a high-performing salesperson and sales team can consistently meet or exceed targets thanks to a variety of market conditions and competitive pressures. The answer is OPTION A.

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The recession caused by the global financial crisis was severe, but much smaller in magnitude than the great depression because of massive intervention by governments to prop up financial markets. option A.

A recession is a period of economic decline characterized by a decrease in gross domestic product (GDP), rising unemployment, and reduced demand for goods and services. In a recession, businesses may struggle to stay afloat, leading to job losses and decreased consumer spending. Recession can be caused by a variety of factors, such as a financial crisis, a drop in consumer confidence, a natural disaster, or a global economic slowdown.

Governments and central banks can take various measures to try to mitigate the impact of a recession, such as lowering interest rates, increasing government spending, and implementing economic stimulus programs.

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The notion that you may examine the relationship between two marginal distributions by comparing them is false.

In probability theory and statistics, the probability distribution of the properties included in a subset is the marginal distribution of either a subset of a group of random variables. Although the idea is simple, the definition sounds a little complex. You might want to focus on one of the larger groups of pertinent variables you gathered for your study in order to address a specific question. The distribution of two parameters cannot tell us how much the values of the two parameters differ, and this must be understood.

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Comprehensive income includes all of the following except  investments by owners. In this option C is correct

A financial reporting concept known as comprehensive income includes all equity changes over the course of a period, excluding those brought on by owner investments and distributions to owners.

It encompasses all gains and losses, both realized and unrealized, that have an impact on a company's equity over a given period, making it a more comprehensive indicator of a company's financial performance than net income.

Items like unrealized gains and losses on derivatives, available-for-sale securities, foreign currency translation adjustments, and specific pension and other post-employment benefit adjustments are all included in comprehensive income. Reclassification adjustments for items that were formerly reported in other comprehensive income but are now recognized in net income are another example of items that are included in this category.

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The statement is True. According to the resource-based model, a firm is assumed to be a unique bundle of resources, capabilities, and competencies

The resource-based model of the organization is valuable in creating keys for organizations with a solitary business, yet additionally for broadened organizations as it uncovers how centre skills implanted in an organization can assist them with taking advantage of new item open doors and markets.

An upper hand is any trait of an organization, nation or individual that separates it from others, putting it in a better relative situation than contend. That is, any property that makes it more aggressive than the others.

The characteristics that add to enjoying a relative benefit are endless. In any case, we can refer to as an illustration the worthwhile admittance to regular assets, (for example, high-grade minerals or minimal expense energy sources), profoundly talented work, geographic area or high obstructions to passage, which can be improved assuming that we have an item that is hard to copy or we have an extraordinary brand.

It has been viewed that the principal wellspring of the upper hand is gotten from the experience impact which has its starting point in the learning impact.

The experience impact causes the experience gathered by the organization to diminish in unit terms the genuine expense of the all-out added worth of the organization. The experience impact is a serious area of strength for a section for new contenders. The presence of this section's hindrance addresses a strong upper hand for the organization that collects more experience impact.

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Johnson and Gomez, Inc. must consider each of these aspects before decision-making.

Possibility of merger with major companies.

Growth potential of basic model and enhanced model.

Competitors on the market.

Aesthetic differences between the two products.

Break-even point.

Validity of data.

Sales trends in recent years.

Production possibility.

Impact on sales of existing products (if any).

The decision-making process can be influenced by potential mergers with larger vendors, market competition, and potential growth of Basic and Enhanced models. You can also consider break-even points, data validity, historical sales trends, production feasibility, and aesthetic differences between two products. Before making a final decision, the company should also consider the potential impact on current product sales. 

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Land, labor, capital, and entrepreneurial activity are the four conventional divisions made by economists of the components of production. Natural resources are referred to as land, while work is referred to as labor.

The materials employed in the manufacturing of a good or service in order to generate revenue are referred to as the factors of production. Land, labor, capital, and entrepreneurship are considered the four main components of production by economists. They can be viewed as the foundational elements of an economy.

Land, capital, labor, and entrepreneurship or enterprise are the four components of production in economics. Time and information are also considered to be important in modern economics. These variables are made up of numerous resources as determined by the gross domestic product.

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Pro Zone trampoline beds are high performance beds. They are also known commonly as bounce beds.

Pro Zone trampoline beds are also commonly known as "bounce beds" based on there  high-performance trampoline-like design and construction.

These beds are designed to provide a high level of support and comfort, and they are particularly popular with athletes and people who value a good night's sleep.

The trampoline-like design of the bed allows it to absorb shock and provide a gentle bounce, which can help promote better circulation and relieve pressure points.

Therefore, Pro Zone trampoline beds are a unique and innovative option for those who are looking for a comfortable and supportive bed that offers a bit of extra bounce.

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All economic systems must not only offer people goods and services but also place limits on how much of those goods and services they can obtain because if we failed to do this could reduce the efficiency of the system by producing some goods and services that are not as highly valued as others.

An economy where the market, as opposed to the government, sets pricing for goods and services is known as free enterprise or the free market. There is no governmental oversight of companies or services. Instead, the term "free enterprise" could refer to a philosophical or legal framework in which the majority of controls over commercial activity come from the private sector. Private property rights, voluntary agreements, and open bidding for products and services are the cornerstones of free markets, both in theory and in practice. Contrary to coercive behavior, fixed or controlled distribution of goods and services, and public property ownership.

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The base-rate fallacy is a cognitive bias where an individual ignores the likelihood of an event occurring in favor of the more specific information they have. This can lead to incorrect assumptions and decisions.

For example, even though the base rate of people being arrested for a crime is actually extremely low, someone who heard that a person had been arrested for a crime may infer that the person was guilty.

As the person is concentrating on the specific knowledge they have and neglecting the base rate of the event occurring, this is an illustration of the base rate fallacy.

This method of decision-making can result in false premises and false conclusions. In order to ensure that the proper decision is made, it is crucial to take the base rate into account while making judgments.

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One must exercise extreme caution while utilizing these social media platforms to prevent obstacles in the job search process and humiliating circumstances.

Technology development in the modern world has improved communication by making it simpler, quicker, and more efficient. It has made it possible for those who are located in the most remote parts of the planet to connect with only a few clicks. Information may be sent quickly and efficiently. But, anything that evolves and advances has advantages and disadvantages. Similar to this, social networking and technological growth also have drawbacks. We are all linked these days through various social networks or other services, which has an impact on our job hunt. Our constant online activity might occasionally cause us to unintentionally or purposefully reveal information that could harm our reputation.Job providers occasionally utilize social networks to examine a potential employee's or an employee's current employment history.

Employees occasionally post sensitive information about their employers on social networking sites, which results in their firing and eventually hinders their ability to find new employment. These social media platforms could reveal a prior occurrence about a person that he does not wish to divulge.

Companies may connect with former coworkers of a candidate they wish to recruit through these social networks to learn more about their behavior and behavioral patterns.

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