select the statements below that are correct in regards to entering transactions in a journal. (check all that apply.)
The statements below for writing transactions in a diary are true: the total dollar amount of debits must match the total dollar amount of credits; credited accounts should be indented; leave one blank line between each finished journal entry.
A journal entry is what?A journal entry is used in an accounting record for a business to describe a business transaction. Journal entries are frequently made in the general ledger, but they can alternatively be produced in a subsidiary ledger and then rolled forward into the general ledger after being summarized.
After then, the general ledger is used to create the company's financial statements. For a journal entry to make sense, every business transaction needs to be recorded twice at the very least (known as double entry accounting).
For instance, the income account and the cash account both grow when you make a cash sale. Alternately, if you make a credit transaction, your inventory account and accounts payable account both grow.
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Correct question:
Select the statements below that are correct in regard to entering transactions in a journal. (check all that apply.)
a) Credited accounts
b) Date of transaction
c) The total dollar amount of debits must equal the total dollar amount of credits.
d) Credited accounts should be indented.
e) Leave one blank line between each completed journal entry.
Chadwick also bought one share of macy's stock on nov 1, 2016, but he sold it three years later for $13. 54. How much money did he gain/lose with this one share? what is his return on investment?.
The amount that Chadwick gained on this one share was $ 3.54.
The return on investment was 35. 4 %.
How to find the gain ?To calculate Chadwick's gain or loss on the Macy's stock he purchased on November 1, 2016, we need to know the purchase price. Let's assume he purchased the stock for $10.
The formula for calculating gain or loss is:
Gain/Loss = Selling Price - Purchase Price
Gain/Loss = 13.54 - 10
= $3.54
To calculate the return on investment (ROI), we use the following formula:
ROI = (Gain/Loss ÷ Initial Investment) x 100%
ROI = ( 3.54 / 10) x 100%
= 35.4%
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a gap analysis indicates the distance between where an organization is with its employee capabilities and where it needs to be.
a gap analysis indicates the distance between where an organization is with its employee capabilities and where it needs to be training objective.
By "organisation," what do you mean?An organisation is made up of a group of individuals who work together, like in a union, business, nonprofit, or neighbourhood association. A person, a group, a business, or the act of generating something can all be described as a "organisation." An organisation or organisation is a group of one or more people that has a particular objective and can be a company, institution, or association. The word comes from the Greek word organon, which also denotes a variety of tools, instruments, and organs.
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Garcia Company recognized revenue on account. The recognition will affect which of the following financial statements?
Balance sheet
Statement of cash flows
Income statement and the balance sheet<<
Income statement
Yang Company recognized accrued salary expense. The recognition will affect which of the following financial statements?
Income statement
Balance sheet
Income statement and the balance sheet<<
Statement of cash flows
On December 31, Year 1 Adam Company incurred $3,000 of accrued salary expense. The Year 2 recognition of the cash payment for these expenses
increases the amount of salary expense recognized in Year 2.
decreases the amount of salary expense recognized in Year 2.<<
increases the amount of liabilities shown on the Year 2 balance sheet.
decreases the amount of liabilities shown on the Year 2 balance sheet.
Garcia Company recognizing revenue on account will affect both the income statement and the balance sheet. The income statement will show an increase in revenue, and the balance sheet will show an increase in accounts receivable (an asset account) since the company has not yet received cash for the revenue earned.
What will Yang Company recognize?Yang Company recognizing accrued salary expense will affect both the income statement and the balance sheet. The income statement will show an increase in expenses, specifically the salary expense recognized, and the balance sheet will show an increase in accrued expenses (a liability account) since the company owes employees for the accrued salary.
If Adam Company recognizes $3,000 of accrued salary expense in Year 1 and then pays the expense in Year 2, this will not affect the amount of salary expense recognized in Year 2. It will, however, decrease the amount of liabilities shown on the Year 2 balance sheet since the accrued salary expense liability has been paid.
Therefore, the correct answer is "decreases the amount of liabilities shown on the Year 2 balance sheet."
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one of the differences between product layouts and process layouts is that unlike product layouts, process layouts:
One of the differences between product layouts and process layouts is that unlike product layouts, process layouts provide more flexibility.
What does "product layout process" mean?
A product layout, used in manufacturing engineering, describes a production system where the workstations and equipment are positioned along the line of production, much like with assembly lines. '
The majority of the time, a conveyor is used to transfer work units along a line—not necessarily a geometric line, but rather a group of connected work stations.
What distinguishes the product layout from the process layout?
The resources required to manufacture a product are organized in one line, according to the order of operations, in a layout style called a "product layout." When referring to a layout design, the term "process layout" means combining resources with similar processes or functions.
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Which of the following is a reason for the widespread anti-American sentiment in the global marketplace?
A. Americans appear to use poor human relations skills while engaging in business with other cultures.
B. Americans emphasize the process more than the product in the workplace.
C. Countries like China, India, and Japan have been unable to make a major impact on world markets or even compete with the United States.
D. Americans assume that having a college degree is no longer a ticket to a meaningful career.
There were many steps in this process, including looking back at earlier issues of Global Trends to see what lessons could be learnt, as well as conducting research and discovery.
What term would be preferable to include?
Including has a number of popular synonyms, including comprehend, embrace, and involve. All of these terms refer to "to contain within as part of the whole," but include implies that something is contained as a constituent, component, or minor portion of a larger whole. When introducing instances of the people or objects that make up the group you are discussing, you use the word include. ... various ailments, such as allergies, hyperactivity, and tooth decay. Artists like Joan Collins are anticipated to attend.
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Amy Martin is a student who plans to attend approximately four professional events a year at her college. Each event necessitates a financial outlay of $100 to $200 for a new suit and accessories. After incurring a major hit to her savings for the first event, Amy developed a different approach. She buys a suit on credit the week before the event, wears it to the event, and returns it to the store the next week for a full refund on her charge card. Address the following in your response:
- Comment on the ethics exhibited by Amy and the possible consequences of her actions.
- How does the merchandising company account for the suits that Amy returns?
The ethics exhibited by Army and the consequences of her actions is:
She is essentially committing fraud by returning a suit she has worn and obtained full use of, without paying for it. Her actions go against the principles of honesty and integrity and can be seen as a form of theft. The merchandising company usually accounts for the suits that Amy returns as part of their merchandise inventory. What is the ethics exhibited by Amy ?The approach taken by Amy raises serious ethical concerns. She is essentially committing fraud by returning a suit she has worn and obtained full use of, without paying for it. Her actions go against the principles of honesty and integrity and can be seen as a form of theft. Furthermore, her actions may lead to consequences such as legal action and loss of reputation, especially if the store or the credit card company discovers her actions.
The merchandising company usually accounts for the suits that Amy returns as part of their merchandise inventory. They would consider the suits that are returned as "returned goods" and would treat them as unsold inventory that can be resold to another customer. However, if the company finds out that Amy has worn the suit and returned it, they may take action to stop her from returning suits in the future or even ban her from purchasing from their stores altogether.
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You want to buy an apartment at the price of 4 million Hong Kong dollars. You will do this with a mortgage from a bank at the annual interest rate 8% for 30 years. What is your annual payment.
pls show cash flow diagram
Answer:
960,000,000
Explanation:
which of the following are common controls over cash receipts? (select all that apply.) multiple select question. a. opening mail daily and making a detailed list of checks received b. reducing c. the amount of total sales to customers
The answer is only option (a) and (c).
a. opening mail daily and making a detailed list of checks received and
c. the amount of total sales to customers
Why are they the answers?The common controls over cash receipts are:
a. Opening mail daily and making a detailed list of checks received
b. Depositing all cash and checks intact and promptly
c. Using pre-numbered receipts
Therefore, the answer is only option (a) and (c). Option (b) is not a common control over cash receipts; it is actually the opposite of a control since reducing the amount of total sales to customers would result in understating the amount of cash received.
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What do borrowers use to secure a mortgage loan? check all that apply. A credit carda down paymenta houselanda vehicle.
A mortgage is a contract between you and a lender that grants the lender the right to seize your property in the event that you're unfit to pay back the quantum you espoused plus interest.
Mortgage loans can be used to buy a property or to adopt plutocrat against the value of bone you presently enjoy. When used meetly, it can help you in earning plutocrat and raising your overall net worth. A mortgage is also among the least precious types of debt. Interest rates are low, and after using the mortgage deduction, you can pay indeed less because to civil and state duty impulses. You can precisely invest your plutocrat in long- term, diversified means rather than using it all to buy a house;
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An adjusting entry was made on year-end December 31 to accrue salary expense of $3,200. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $7,000 payment of salaries in January of the following year? Multiple Choice 0 salaries Expens 7,000 Salaries Expense Cash 7,000 7,000 Salaries Payable Cash 7,000 3,200 Salaries Payable Cash 3,200 3,200 Salaries Expense Salaries Payable 3,200 7,000 Salaries Expense Cash 7,000 7,000 Salaries Payable Cash 7,000 Salaries Payable Cash 3,200 3,200 3,200 Salaries Expense Salaries Payable 3,200 Salaries Payable Salaries Expense Cash 3,200 3,800 7,000
The correct entry to record the $7,000 payment of salaries in January of the following year, assuming no reversing entries were made, is:
Salaries Expense 3,200
Salaries Payable 3,200
Cash 7,000
Salaries Payable 7,000
What does it mean for a company to prepare to reverse entries?Preparing reversing entries is an optional accounting procedure in which an adjusting entry made at the end of a period is automatically reversed at the beginning of the next period. Reversing entries helps simplify the accounting process and ensure that financial statements accurately reflect the economic activity of the period. By automatically reversing the previous period's adjusting entry, the accountant does not need to remember to manually reverse it. This is useful for certain types of adjusting entries that can be difficult to reverse or remember, such as accruals for expenses or revenues.
from the question:
Salaries Expense 3,200
Salaries Payable 3,200
Cash 7,000
Salaries Payable 7,000
Explanation: The adjusting entry made at the end of the year recognized the accrued salaries expense of $3,200. When the actual payment is made in January of the following year, the Salaries Payable account is reduced by $3,200 and Cash is reduced by $7,000, the total payment made to employees. The Salaries Expense account is not affected by the payment as it has already been recognized through the adjusting entry.
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Andrew buys a home entertainment system from an electronics store offering 0% interest for 18 months. Calculate the average monthly payment she should make to avoid paying deferred interest charges for the $8,000 system.
Andrew would need to make payments of $444.44 per month to avoid paying any deferred interest charges over the 18-month promotional period.
To calculate the average monthly payment that Andrew should make to avoid paying deferred interest charges for the $8,000 home entertainment system, we need to first determine the total amount that Andrew would need to pay over the 18-month period. Since the interest rate is 0%, the total cost of the system would be the same as the purchase price, which is $8,000.
Dividing the total cost by the number of months in the promotional period gives us the average monthly payment:
$8,000 / 18 months = $444.44 per month
It's important to note that while there may be no interest charges during the promotional period, there may still be fees or penalties for late payments or early repayment of the balance. It's important for Andrew to review the terms and conditions of the promotion and to make sure he is able to make the required payments on time to avoid any fees or penalties. Additionally, if the full balance is not paid off by the end of the promotional period, interest charges may begin to accrue, so it's important to have a plan in place to pay off the balance before the promotional period ends.
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Match the person with the psychological bias or other decision barrier that he or she is exhibiting during the job search.
Psychological Bias:
Framing Effects
Discounting the Future
Illusion of Control
Real-time Information
Case:
Eliza: Eliza is in the midst of her job search but not having much luck. She sent cover letters with her resume to a number of organizations. In the cover letters, she essentially announced that she’s available because she’ll be graduating in May, and conveyed her excitement about graduating. In efforts to focus on her availability, she did not devote much space to discussing what makes her unique.
Roberto: Roberto feels very much under the gun to get a job he can begin the day after graduation. He will take any job. He scans the job listings five times each day and immediately applies to a job the moment it is posted.
Jane: Jane is looking for a job that will offer her a large signing bonus and a compensation package that is commission focused. In fact, she doesn’t care if the position even offers many benefits or a retirement fund; after all, she’s young and will have plenty of time to make that up in the future. All she wants now is money to get her life started after college.
Michael: Michael has heard from his friends and career counselor at school that the job market is bleak, and that he likely won’t find a job immediately upon graduation. However, he is taking what they say with a grain of salt. He’s always been able to find a job—and usually doesn’t even have to formally apply since he has so many contacts. The jobs have come to him in the past. Consequently, he spends his time hanging out with friends instead of sending out job applications.
Maria: Maria has graduated and has been interviewing with a company that hired her friend, Olivia last year. Maria has been told by Olivia that the company does not value employees and that she found out they have a high rate of employee turnover. In fact, Olivia is going to begin a job search and hopes to quickly find a job so she will be in a better work environment. Maria has been told in the interviews that the company values employees and there is a culture of trust, loyalty, and support. Maria is getting ready to accept an offer.
George: George has had quite a bit of work experience in his field of study through volunteering while in college and by completing an internship with a major corporation over the summer between his junior and senior years. Although his grade point average is low, and his interview skills are weak, George believes his value as a potential employee far exceeds the value of his classmates vying for the same positions. George was offered a job at a salary that he thought was too low for his experience and he is considering declining the offer.
The persons are matched with the respective psychological bias or other decision barrier that he or she is exhibiting during the job search:-
1. Framing Effects- Eliza and Maria
2. Discounting the Future- Jane
What is framing effect?The framing effect as a cognitive bias operates when alternatives or options influence an individual's decision. People take risks when the alternative has positive/favorable connotations while avoiding negative or unfavorable connotations. Companies, for example, avoid hiring Eliza because she is not unique or advantageous to them, whereas Maria accepts the offer because she has recently graduated and needs a job despite the risk.
Discounting the Future- This bias involves an individual taking the future for granted because of the benefits or gains he or she receives today. Jane is ignoring her future simply because she is receiving attractive compensation and benefits today.
Illusion of Control- Michael and George
When people overestimate their tendency or ability to control uncontrollable events, they develop this bias. In this case, both Michael and George overestimate their abilities, believing that they have their jobs under control and can get any job whenever they want, which is not the case.
Real-time information- Roberto
This bias occurs when people have access to either too much or untrustworthy information, which influences their decisions. For example, Roberto applies for the job immediately, regardless of whether the information in the posting is reliable or not.
Therefore, the persons are matched with their given psychological barrier.
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Rundle Construction Company expects to build three new homes during a specific accounting period. The estimated direct materials and labor costs are as follows:
Expected Costs Home 1 Home 2 Home 3
Direct labor $64,000 99,000 184,000
Direct materials 103,000 150,000 195,000
Assume Rundle needs to allocate two major overhead costs ($52,050 of employee fringe benefits and $26,880 of indirect materials costs) among the three jobs.
Each home's share of the overhead expenses—$15,780 for House 1, $23,850 for Home 2, and $39,300 for Home 3—is divided among the three residences.
Calculate the same asked in the question.For each cost driver, determine the overall activity. This is what we can do: fringe advantages for employees: For all three residences, the total direct work hours are $64,000 + $99,000 + $184,000 = $347,000 Costs of indirect materials Cost of all three dwellings' direct materials as a whole: $103,000 + $150,000 + $195,000 = $448,000 Step 3: Determine the overhead rate for each cost-causing factor. For each cost driver, we may accomplish this by dividing the entire overhead expense by the total cost driver activity. Here are the facts: Fringe benefits for employees: $52,050 divided by 347,000 direct labour hours yields $0.15 every direct labour hour. Costs of indirect materials: $26,880 divided by $448,000 for direct materials yields $0.06 for each dollar spent on direct materials.
For House 1:
fringe advantages for employees: 9 600 hours of direct labour at $0.15 each.
Costs of indirect materials: $0.06 times $103,000 in direct material costs is $6,180.
For House 1, the total overhead costs are $9,600 plus $6,180, or $15,780.
For House 2:
fringe advantages for employees: 99,000 direct labour hours at $0.15 each equal $14,850.
Costs of indirect materials: $0.06 times $150,000 in direct material costs is $9,000
For House 2, the total overhead costs are $14,850 plus $9,000, or $23,850.
For House 3:
Employee perks: $0.15 times 184,000 hours of direct labour equals $27,600.
Costs of indirect materials: $0.06 times $195,000 in direct material costs is $11,700.
Overall overhead for House 3 is $27,600 plus $11,700, which comes to $39,300.
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Budgeting, analysis of investment proposals, and provision of funds are activities associated with the _____ function.
a. operations
b. marketing
c. purchasing
d. finance
The answer is d. finance.
What is budgeting?
An estimate of income and expenses for a specific future period of time is included in budgets, which are often generated and analysed on a regular basis. Every organisation that desires to spend money may construct a budget, including businesses, governments, as well as people and households of various economic levels.
The ability to regulate monthly expenses, plan for unanticipated life events, and afford expensive items without going into debt all depend on having a budget. It's not necessary to be a math pro to keep track of your income and spending, and it doesn't mean you can't purchase the things you desire. It simply means that you will have a better understanding of where your money is going and greater control over it.
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Suppose instead Brian decides to buy 100 shares of NanoSpeck stock.
Which of the following statements are correct?
a. The Dow Jones Industrial Average is an example of a stock exchange where he can purchase NanoSpeck stock.
b. An increase in the perceived profitability of NanoSpeck will likely cause the value of Brian's shares to rise.
c. Expectations of a recession that will reduce economy-wide corporate profits will likely cause the value of Brian's shares to decline.
The correct option b. An increase in the perceived profitability of NanoSpeck will likely cause the value of Brian's shares to rise.
Explain the causes to change the value of shares?The forces of the market affect stock values every day. This refers to the idea that supply and demand affect share prices.
A stock's price rises if there is a greater demand (buyers) than supply (sellers) for it. On the other hand, if there was a bigger supply than there was a demand for a stock, the price would drop. Earnings are the most significant factor influencing a company's worth. In the long term, no corporation can thrive without earnings, which refers to the profit a company makes. When you consider it, it makes logic. A corporation won't be able to survive if it never turns a profit.Let's say Brian instead chooses to purchase 100 shares of NanoSpeck stock.
Thus, the valuation of Brian's shares will then probably increase as NanoSpeck's perceived profitability increases.
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Effective and carefully planned mission statements:
A) require major changes every few months.
B) require major changes every few quarters.
C) require major revision every few years.
D) do not require revision.
E) require infrequent major changes, but are always subject to revision.
Effective and carefully planned mission statements require infrequent major changes but are always subject to revision.
What are mission statements?
The mission statement of an organization succinctly states the reason for its operations, its ultimate goal, the kind of product or service it provides, its target market or clients, and the region in which it operates. It might contain a succinct description of important concepts like an organization's beliefs or philosophy, its key competitive advantages, or its "vision" for the future. It has historically been connected to Christian religious organizations; in fact, for many years, a missionary was thought to be someone on a mission that was especially religious. The Jesuits' sending of missionaries abroad is where the term "mission" first appeared in 1598.
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based on the data in the graph, which of the following fishing practice solutions would best promote the sustainability of the orange roughy population? responses a decrease in the minimum size limit of fish that can be caught
Based on the data in the graph, the establishment of quotas on the number of orange roughly caught would best promote the sustainability of the orange roughly population.
Explain the sustainability of orange roughy.The Marine Stewardship Council has acknowledged the New Zealand orange roughy fishery as sustainable, despite international opposition to its recognition. Deep-sea bottom trawlers over seamounts are used to catch orange roughy.
The orange roughy, also known as the red roughy, slimehead, and deep sea perch, is a sizable deep-sea fish that is a member of the slimehead family. "Vulnerable to exploitation" is how the UK Marine Conservation Society has classified orange roughy. Deepwater species known as orange rough live along oceanic ridges and slopes that are extremely rocky.
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true/false. juan and wanda both make pancakes and bacon. if we compare the opportunity costs and possible gains from trade for juan and wanda, we can determine the exact exchange ratio at which the parties will agree to trade.
Trade agreements are defined by comparing the two opportunity costs and choosing a number that falls between the three to benefit both countries. Gains are the ability for two agents to expand theirs depending on the amount thru specializing in a good.
if we compare the opportunity costs and possible gains from trade for juan and wanda?They have a trade for just a good and competitive benefit that they do not have.
Both Juan and Wanda make breakfast and eggs.
They can establish an exact exchange ratio where the parties will not agree to trade by evaluating the opportunities, costs, and potential rewards of trade for Juan and Wanda.
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Which of the following is a short hand, method of displaying journal entries and balances, general ledger, T accounts, natural balance, general journal
The short hand, method of displaying journal entries and balances is T accounts.
What is T accounts?A collection of financial records that employ double-entry accounting are referred to informally as T-accounts. Because of the way the bookkeeping entries are organized, the account is known as a T-account. Just above the T, the account title may be seen.
Ledger account is another term for a T account. In asset accounts, the debit (left) side is always a sign of an increase and the credit (right) is always a sign of a decline. Cash, inventories, and accounts receivable are a few examples of asset accounts.
Therefore, option B is correct.
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two examples of non tax income
Non-tax income refers to any income that is not subject to taxation. Here are two examples:
1 Interest earned on tax-exempt bonds: Interest earned on certain bonds, such as municipal bonds, is exempt from federal income tax. This means that the income generated from these bonds is not subject to taxation, making it a form of non-tax income.
2 Gifts and inheritance: Money received as a gift or inheritance is not considered taxable income by the recipient. However, the giver or estate may be subject to gift or estate taxes, respectively, if the gift or inheritance exceeds a certain threshold.
which of the following steps are part of the segmentation, targeting, and positioning process? (choose every correct answer.)
Since there are no options to go with, I cannot choose every correct answer! Although I have Found some things that might help!
The segmentation, targeting, and positioning process is a strategic marketing approach that involves the following steps:
Overall, the segmentation, targeting, and positioning process is critical in helping businesses understand their customers and develop a marketing strategy that meets their needs and expectations while remaining competitive in the marketplace. Hope this helps!
suppose that when output is 20, marginal cost is $20, and average total cost is $30. then which of the following is most likely to be true?
Suppose that when output is 20, marginal cost is $20, and average total cost is $30. then average total cost is declining.
Option A is correct.
Average total cost:The average total cost is calculated by dividing the number of units produced by the total costs associated with producing a batch. The outcome is regarded as the most comprehensive costing compilation for a production run because it includes both the fixed and variable costs of producing the units.
What is the ATC formula?TC/TP = ATC.
Separating TC into fixed costs (FC) and variable costs (VC), dividing each of those costs by the total product, and adding them up is another way to calculate ATC: FC/TP x VC/TP is ATC.
Question incomplete:
Suppose that when output is 20, marginal cost is $20, and average total cost is $30. Then which of the following is most likely to be true.
A. Average total cost is declining.
B. Average total cost is increasing.
C. Average variable cost declining.
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typically in countries with lower levels of real gdp per person, a smaller percentage of the population is literate.T/F
"In countries with lower levels of real GDP per person, a smaller percentage of the population is literate." This statement is true.
What is GDP?Gross Domestic Product GDP measures the value of final goods and services in monetary terms. That is, those that are bought by the final user and produced in a country in a given period of time. It counts all the output generated within the country.
A country with a higher level of GDP per person has a higher standard of living than a country which have a lower level of real GDP per person.
The option is true as real Gross Domestic Product per person would increase if limitations on foreign trade and investment are reduced, then production and output of the economy would increase. Therefore, it means that real GDP per capita would increase when commerce between countries highly increases.
Therefore, This statement is true.
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You manage inventory for your company and use a continuous review inventory system to control reordering items for stock. Your company is open for business 300 days per year. One of your most important items experiences demand of 16 units per day, normally distributed with a standard deviation of 4 units per day. You experience a lead time on orders from your supplier of seven days with a standard deviation of three days. The unit price, regardless of order size, is $5.95. Your ordering cost is $11. Your inventory carrying cost is 20 percent. You have established a service level policy of 90 percent on this item. Use Table 7-2.
a. What is your optimal order quantity? (Round up your answer to the next whole number.)
b. What is your reorder point? (Round your answer to the nearest whole number.)
c. How much safety stock do you carry? (Do not round intermediate calculations. Round up your answer to the next whole number.)
According to the data, the optimal order quantity is 298 units. The reorder point is 175 units. The safety stocks which is carry is 63 units.
What do you mean by optimal order?The amount of merchandise that a company should have on hand at any particular moment that is most cost-effective is called the optimal order number.
The economic order quantity (EOQ) is the amount of inventory that a business should buy in order to satisfy demand while reducing overall ordering, getting, and holding expenses.
Here,
Average daily demand (d) = 16 units
Number of days per year = 300
Annual demand (D) = d × Number of days per year = 16 × 300 = 4800 units
Ordering cost (S) = $11
Carrying cost (H) = 20% of unit price = 20% of $5.95 = $1.19
Standard deviation of daily demand (d) = 4 units
Lead time(L) = 7 days
Standard deviation of lead time (L) = 3 days
At 90% service level value of Z = 1.28
a) Optimal order quantity (Q) = √(2DS/H)
= √[(2 × 4800 × 11)/1.19]
= √(105600/1.19)
= √88739.49579
= 298 units
b) Standard deviation of demand during lead time(dL) = √[(L × square of d) + (square of d × square of L) ]
= √[(7 × square of 4) + (square of 16 × square of 3) ]
= √[(7 × 16) + (256 × 9) ]
= √(112 + 2304)
= √2416
= 49.1528229
Reorder point = d × L + (Z × dL)
= 16 × 7 + (1.28 × 49.1528229)
= 112 + 62.91561332
= 174.91561332 or rounded off to 175 units
C) Safety stock = Z × dL = (1.28 × 49.1528229)
= 62.91561332 or rounded off to 63 units
Therefore, by the given data in the case follows terms and conditions:
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The table of image is attached:
Briefly explain whether production of each of the following goods is likely to fluctuate more or less than real GDP does during the business cycle:
a. Ford F-150 trucks
b. McDonald’s Big Macs
c. Whirlpool washing machines
d. Huggies diapers
e. Boeing passenger aircraft
Ford F-150 trucks are likely to fluctuate more than real GDP during the business cycle because of technology shocks. The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment.
What are the other goods that fluctuate the real GDP?A McDonald's Big Mac is likely to fluctuate less than real GDP because the production process does not require as much technology so it brings down the technology shock. Whirlpool washing machines are likely to fluctuate more than real GDP during the business cycle because of technology shocks.
The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment. Huggies diapers are likely to fluctuate less than real GDP because the production process does not require as much technology so it brings down the technology shock. Boeing passenger aircraft are likely to fluctuate more than real GDP during the business cycle because of technology shocks.
The economy experiences fluctuations in technology because the ability to turn inputs into outputs causes fluctuations in output and employment.
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bill o'malley is a buyer in the purchasing department at nilo industries. his speciality is nonferrous metals. bill is attempting to develop a system for force casting monthly copper prices. he has accumulated :6 months of historical price data:
Forecast for month 7 with alpha 0.1 = 0.87
Forecast for month 7 with alpha 0.5 = 0.84
How to calculateData Provided:
Month
Price/Pound
Forecast
1
0.85
0.90
2
0.82
3
0.90
4
0.79
5
0.83
6
0.85
Case 1 when Alpha = 0.1
Using exponential method we make forecast using below formula
Forecast Current = (Alpha * Previous period Actual) + ((1- Alpha)* Forecast of previous period)
Forecast month 2 = (Alpha * Actual price month 1) + ((1-Alpha)*Forecast for month 1)
=(0.1*0.85)+((1-0.1)*0.90)= 0.90
Similarly we can calculate for rest for the periods till month7 as below:
Month
Price/Pound
Forecast
1
0.85
0.90
2
0.82
0.90
3
0.90
0.89
4
0.79
0.89
5
0.83
0.88
6
0.85
0.87
7
0.87
Same needs to be done for Alpha 0.5 as below:
Forecast month 2 = (Alpha * Actual price month 1) + ((1-Alpha)*Forecast for month 1)
=(0.5*0.85)+((1-0.5)*0.90)= 0.88
For rest of the month to be as below:
Month
Price/Pound
Forecast
1
0.85
0.90
2
0.82
0.88
3
0.90
0.85
4
0.79
0.87
5
0.83
0.83
6
0.85
0.83
7
0.84
Calculating MAD for Forecasting with alpha 0.1
Mean absolute deviation (MAD) , In this we 1st find the errors of forecasting by subtracting forecasted value from actual value as below:
Month
Price/Pound
Forecast
Error
1
0.85
0.90
-0.05
2
0.82
0.90
-0.08
3
0.90
0.89
0.01
4
0.79
0.89
-0.10
5
0.83
0.88
-0.05
6
0.85
0.87
-0.02
Now we convert ERROR value in absolute values as below:
Month
Price/Pound
Forecast
Error
|Error|
1
0.85
0.90
-0.05
0.05
2
0.82
0.90
-0.08
0.08
3
0.90
0.89
0.01
0.01
4
0.79
0.89
-0.10
0.10
5
0.83
0.88
-0.05
0.05
6
0.85
0.87
-0.02
0.02
Now we add up |Error| as below:
Month
Price/Pound
Forecast
Error
|Error|
1
0.85
0.90
-0.05
0.05
2
0.82
0.90
-0.08
0.08
3
0.90
0.89
0.01
0.01
4
0.79
0.89
-0.10
0.10
5
0.83
0.88
-0.05
0.05
6
0.85
0.87
-0.02
0.02
Total
0.31
Next we calculate MAD by dividing sum of |Error| by number of errors to get MAD
MAD = 0.31/6 = 0.5167
Same Process we repeat for forecast with alpha 0.5
Month
Price/Pound
Forecast
Error
|Error|
1
0.85
0.90
-0.05
0.05
2
0.82
0.88
-0.06
0.06
3
0.90
0.85
0.05
0.05
4
0.79
0.87
-0.08
0.08
5
0.83
0.83
0.00
0
6
0.85
0.83
0.02
0.02
Total
0.26
Now in this case Month 5 has 0 error means no error, so for this MAD your number of errors will be 5 rather than 6 as in previous forecast with alpha 0.1
MAD = 0.26/5 = 0.5200
So MAD of forecast with alpha 0.1 is lesser than MAD of forecast with alpha 0.5.
Forecast for month 7 with alpha 0.1 = 0.87
Forecast for month 7 with alpha 0.5 = 0.84
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Is saving $2,000 by the end of the semester a short term goal or milestone
Answer:short term goal
Explanation:
Answer:
Short term goal
FILL IN THE BLANK g. jone's consulting company's adjusted trial balance shows the drawing account has a debit balance of $3,000. the journal entry to close this account will include a debit to the _____ account, in the amount of $3,000.
The journal entry to close the drawing account will include a debit to the owner's capital account, in the amount of $3,000.
What is an adjusted trial balance, and why is it important for financial reporting?An adjusted trial balance is a financial statement that lists all the account balances after adjusting entries have been made. Adjusting entries are made at the end of an accounting period to ensure that financial statements accurately reflect a company's financial position and performance. The adjusted trial balance is important for financial reporting because it is used to create other financial statements, such as the balance sheet and income statement. These statements are used by stakeholders to assess a company's financial health and make decisions about investments, lending, and other business activities. The accuracy of these statements depends on the accuracy of the adjusted trial balance.
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What qualities or characteristics might lead to the emergence of an innovation desert? Is it always a geographical definition, or could it be defined in other ways? least 200 words.
If we identify the specific factors that are limiting innovation and to develop targeted strategies to overcome them, they are:
increasing investment in research and development, improving access to resources and education, fostering collaboration between different stakeholders, promoting a culture of innovation and entrepreneurship. What is an Innovation Desert?An innovation desert can be defined as a place or region with limited or no innovation activity occurring.
This can be caused by various factors, including a lack of access to resources, limited investment in research and development, a low level of education, and a lack of infrastructure.
Other factors that can lead to an innovation desert include a lack of collaboration between researchers and entrepreneurs, regulatory barriers, and a weak entrepreneurial culture.
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