*BLANK* bias indicates the tendency of an individual to attribute his or her own successes to internal factors while putting the blame for failures on external factors. A. Contrast bias B. Self-serving C. Distinction D. Congruence E. Anchoring

Answer: The cost of entertainment is deductible if it directly PRECEDES or FOLLOWS a substantial business discussion, thereby satisfying this rule, ($440 + $190) × 50% = $315.

Therefore, Holly can deduct $315 as a business expense.

Answer:

Holy can deductible expense is $220

Explanation:

From a tax-rules' point of view cost of entertainment incurred after 31st December 2017 are no longer deductible,however 50% of cost of business meals is allowable if satisfies the following conditions:

The cost of business meal is invoiced separately from entertainment cost,which is case here as the cost of meal of $440 was separated from cost of theater tickets of $190.

The business meal is necessary and necessary incurred in the year.

A representative of the company or an employee is present at the furnishing of the meal.

The cost of business meal is not extravagant ,in other words reasonable as it is the case here.

The meal was served to a current or prospective client

Holy can deduct 50% of the business meal i.e 50%*$440=$220

Answer:

Complex buying behavior

Explanation:

Complex buying behaviour is the behavior which is defined as the behavior that happen when the customer is highly involved with the purchase and when there are differences among brands.

And this behaviour could be linked with the purchase of the personal computer or a new home.

So, in this case, George is purchasing his first house and for that he contracted various agents to look for different kinds of houses. Therefore, he is most likely exhibiting the complex buying behavior.

Final answer:

George exhibits thorough decision-making skills by comparing house attributes and consulting various real estate agents, reflecting careful economic decision-making tailored to his personal needs and values.

Explanation:

George is most likely exhibiting thorough decision-making skills in the process of buying his first house. By spending a month comparing price and location, and contacting several real estate agents to look at different types of houses, he indicates a strategic and well-informed approach to a significant financial decision.

This behavior is aligned with sound economic decision-making, where individuals use knowledge and reasoning to make decisions that best suit their personal needs and values. This scenario also highlights the importance of comparisons and the impact of potential biases in the decision-making process, such as an anchoring bias, which could affect judgment if George were to focus heavily on one attribute, like price, without recognizing the full scope of what's available. The right real estate agent would provide comparables to ensure George is aware of all his options within his budget, adhering to his personal housing preferences.

Answer:

The answer is:

c. Allow one key employee to operate the bank account personally.

Explanation:

The following procedures are to prevent fraud and ensure internal control that small business owners should:

a. Pay everything by check so that there is a record.

b. Always open the bank statement and reconcile it themselves.

d. Sign every check themselves and not delegate the signing to anyone else.

However, the procedure in the answer c is unnecessary because the account management usually doesn't take so much resources for a small business owner.

Answer: C: Allow one key employee to operate the bank account personally

Explanation:

When a small business owner cannot guarantee effective segregation of duties, key things are important to reduce or eliminate risks of fraud.

1. Effective record keeping is important fo every business and hence paying through checks would ensure to create a track record of every payments done by you. Doing this avoids unreasonable expenses as well as cash shortages.

2. Since, you can't afford sufficient employees, it's important that only you sign every check issued out to maintain order and successive track record, this would also greatly avoid falsified inventories

3. To avoid fictitious records or cases where values are overstated to match profits, it's important taht only you open the bank statements and operate bank accounts personally.

There is high risk of fraud mainly when internal controls can be overridden

To calculate the budgeted units of production for January, we add 20% of February's projected sales to the projected sales for January. The correct answer is 236,000. To calculate the budgeted units of production for February, we add 20% of March's projected sales to the projected sales for February. The correct answer is 222,000.

To calculate the budgeted units of production for January, we need to consider the desired ending finished goods inventory for February. The question states that the desired ending finished goods inventory is 20% of the following month's sales. So we calculate 20% of February's projected sales (180,000 units), which is 36,000 units. Adding this to the projected sales for January (200,000 units), the budgeted units of production for January is 236,000 units. Therefore, the correct answer is d. 236,000.

To calculate the budgeted units of production for February, we need to consider the desired ending finished goods inventory for March. The question states that the desired ending finished goods inventory is 20% of the following month's sales. So we calculate 20% of March's projected sales (210,000 units), which is 42,000 units. Adding this to the projected sales for February (180,000 units), the budgeted units of production for February is 222,000 units. Therefore, the correct answer is b. 222,000.

Answer:

It expands market and sales coverage.

Explanation:

Multichannel distribution system is a type of system utilized by different business inorder to reach their potential customers. It involves the use of more than one marketing channel to promptly and effectively get to different customers.

The benefits of multichannel marketing include:

- It leads to an increased source of revenue for the organisation.

- It increases the customers awareness about the product.

- It gives the business the capability to cut across different sections of the market.

Answer:

Explanation:

Answer:

d. Downward communication

Explanation:

The downward communication is the process of communicating the information from top to bottom i.e superior to subordinates or vice president to divisional employees . The information can be in terms of explaining the duties and responsibilities, any changes in the process, etc

So according to the given situation, the Jay who is a divisional vice president of a consumer goods manufacturer gives a presentation to all the employees of divisions that reflect the downward communication

Answer:

hi your question is incomplete this the complete question

As product marketing manager, one of our jobs is to prepare recommendations to the Executive Committee as to how advertising expenditures should be allocated. Last year’s advertising budget of $40,000 was spent in equal increments over the four quarters. Initial expectations are that we will repeat this plan in the coming year. However, the Committee would like to know if some other allocation would be advantageous, and whether the total budget should be changed.

Our product sells for $40 and costs us $25 to produce. Sales in the past have been seasonal, and our consultants have estimated seasonal adjustment factors for unit sales as follows:

  Q1   90%

  Q2   110%

  Q3   80%

  Q4   120%

(A seasonal adjustment factor measures the percent of average quarterly demand experienced in a given quarter.)

In addition to production costs, we must take into account the cost of the sales force (projected to be $34,000 over the year, allocated as follows: Q1 and Q2, $8000 each; Q3 and Q4, $9000 each), the cost of advertising itself, and overhead (typically around 15% of revenues).

Quarterly unit sales seem to run around 4000 units when advertising is around $10,000. Clearly, advertising will increase sales, but there are limits to its impact. Our consultants several years ago estimated the relationship between advertising and sales. Converting that relationship

Answer : 29.56

Explanation:

firms advertising budget = $3200 instead of $40000

allocating the budget across the four quarters optimally i.e based on the production cost demand and other financial factors the firm's break even production cost based on the allocated advertising budget of $32000 instead of $40000 will be 29.56 after considering mostly the effect of the advertising which will lead to increase in sales of the product as well

Answer:

Debit Work in Process Inventory $137,000; debit Factory Overhead $30,000.

Explanation:

Work in process inventory includes direct labor = $94,000 + $43,000, while factory overhead includes indirect labor = $30,000.

Direct labor refers to the labor costs directly associated with the production processes, while indirect labor include all other labor costs that are not directly related to the production of goods, e.g. supporting activities, maintenance, administrative, etc.  

Answer:

There is not enough information to answer the question -E

There is not enough information to answer the question. As there is no sufficient information about the products the company deals in. Hence, option E is  correct.

Single ownership is the way in which the ownership is single, even the company is merges. The ownership remains in the hands of the one partner no matter if the company, how the way they are operating the company.

Thus, option E is correct.

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Answer:

William's human life value is $498,400

Explanation:

Given

Time = 20 years

Average Earnings = $80,000

Family Support = $40,000

Dollar Value = $12.46

To calculate a human life value, it is very important to deduct the Income tax costs from a person's average annual earnings.

Since William doesn't have any outstanding loan;

His Human Life value is calculated as follows;

HLV = (Annual Earnings - Family Support) * Dollar Value

HLV = ($80,000 - $40,000) * 12.46

HLV = $40,000 * 12.46

HLV = $498,400

Answer:

Wide span of control

Explanation:

Span of control is determined by the number of employees or subordinates that a manager supervises. In a wide span control , the manager supervises many employees while in a narrow span , the manger supervises a few.

Looking at the number of employees that report to Marvin Grey  , from the Presidents of the branches , to the central head of Finance and the marketing teams and other managers , we can point out that Marvin Grey has a wide span of control

Answer:

D) Marvin Grey has a wide span of control.

Explanation:

A CEO has wide span of control if his employees as well as his subordinate managers are being supervised by him and they also report directly to him. In wide span of control, they are few levels of management and it is not expensive to implement.

A mechanistic organization is an organization with a centralized authority and have formalized procedures and practices. Employees are assigned with separate tasks.

A tall hierarchical structure is an organization broken down to different portions each having a manager responsible for controlling the operations in that portion

Answer:

the company needs to debit inventory and credit of cost of goods sold for $500

Explanation:

The perpetual inventory management systems update the inventory level continuously. Every time a sale or purchase of inventory occurs, the system adjusts the cost of goods sold. From time to time, a physical count is conducted to compare the actual inventory level with the values reported in the system.  In the event of differences, appropriate measures are taken.

In this case, the physical count was valued at $46,500, while the system reports $46,000. Since the physical count is the true reflection of the inventory level, the accountant has to adjust the system to match the physical account. The system needs to be increased by $500.  Inventory is an asset and will require a debit entry of $500 to match the physical count. Movements in inventory affect the cost of goods sold account. A debit on inventory will correspond with a credit entry to the cost of goods sold account.

The Woods company, using a perpetual inventory system, should adjust its general ledger Inventory account by writing off the $500 difference between the account balance and the actual physical inventory count. This will reflect accurate inventory, cost of goods sold and profit figures.

In the situation described, where the Inventory account balance in the general ledger of the Woods company is $46,000, but the actual inventory on hand according to a physical count is $46,500, the company needs to make an adjustment. It seems like a shrinkage error has occurred, a common issue in the field of perpetual inventory management. Thus, the company should adjust the Inventory account in its general ledger by writing off the difference of $500. This adjustment is necessary to match the general ledger with the actual inventory, and to reflect the accurate cost of goods sold and profit figures in the business's financial statements.

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Answer:

Consumer market

Explanation:

A consumer market is the market in which goods and services are purchased.

In a consumer market, decision regarding purchase is made by the individual and the products or services purchased can be used personally or be shared with other people depending.

A consumer market varies as it can be business to business, business to government, financial services, etc.

Cheers.

Answer:

1.

As an employee working for a salon, it is necessary to have understandings and skills related to this job. They should have hair care skills to provide services for customers such as: washing, cutting, dyeing, etc. In addition, they also need to have good working attitude, which includes being on time for their shifts, being friendly, respectful to the customers. As a service provider, they should also be customer-oriented, which means prioritize the benefits of customers.

2.

A good team player is the one who have both good individual skills and the team-oriented attitude as well. So that they tend to have these habits:

+) The first one is they need to strive to help. This reflects their attitude to contribute as a team and help each other rather than just look for personal achievement.

+) Second one is to pitch in, start doing something as a group, put the responsibility for and the benefit of the whole group on top.

+) The next one is share your knowledge. Sometimes, in a group, the field of understanding of each member is different. It is necessary to share the knowledge to assure that other people can also understand what you gonna do to have appropriate adjustment or support if necessary. This can also help team members all gain.

+) The fourth one is to have positive mind. The more optimistic and future-focused a member the better they perform at work. And this attitude also helps lift the enthusiasm as well.

+) The fifth one is being willing to resolve conflict. As conflicts are unavoidable in team work due to the difference in many aspects of people. A good team player tends to be more willing to resolve conflict as it could affect the work efficiency.

+) The last one is to be willing to be subordinate and loyal. This could help remain the team spirit well and make a team player become a good listener. Even when they are wrong or have no idea, it is essential that they are willing to be subordinate rather than just want to lead everything.

3.

Three most common methods of salon compensation could be salary, commission, and salary plus commission.

Salary is the fixed amount that the employees receive when fulfilling all of their duties. The job and salary are usually discussed and accepted by both sides before they start working.

The commission is the money the employees receive, which is calculated by the level of completion of the job.

Salary plus commission are used when the employees can earn sales or create added value to the business of the firms - which is higher than the required level of their duties.

4.

Five principles of selling salon products and services are:

+) First, be familiar and have understanding about each product's feature, benefits, effect as well as the other services. This is to assure that they can sell and recommend the right one that the customers need.

+) Second, try to adapt the technique to meet the needs of each client. The clients demand and personality varies so that their needs are different, for example some are willing to have more recommendation to buy, some are easily confused and uncomfortable instead.

+) The third one is asking questions determining the need to generate the customer's interest in products or services.

+) The fourth one is never underestimate the client's knowledge. Despite the fact that there are still customers do know much about beauty knowledge, you should never assess it and try to show your respect to the customer's understanding.

+) The last one is keeping relaxed and friendly manner when having a sales talk. This could make the conversation more comfortable and please the client.

5.

To expand the client base, you should focus much on the customer services and try to deliver the value to the customers. This can be enacted in these ways:

+) Membership: Provide frequent customers with membership to obtain added benefits.

+) Provide consistently great services and products in all aspects, not focus on particular things.

+) Be respectful to the customers and each other within the business.

+) Connection: try to connect more with your clients to make them feel they are cared.

+) Be positive as people are always moving towards and attracted by the enthusiasm and optimism.

+) Focus on making the salon image reliable to keep the repeat customers.

Answer:

please be more specifc

Answer:

48,750 units

Explanation:

The computation of the number of units produces in this month is shown below:

As we know that

Opening stock + Production - Sales = Closing stock

where,

Opening stock = 8,000 units

Sales = 50,000 units

Closing stock = 45,000 units × 15% = 6,750 units

So, the number of units produced is

6,750 units = 8,000 units + production - 50,000 units

6,750 units = - 42,000 units + production

So, production is 48,750 units

Answer:$50000

Explanation:

Recovery period of the asset means that the company starts to realize its depreciation for the assets. In the recovery period the taxpayer will start to write off the asset with the depreciation value calculated using the useful years of the asset.

Half year convention means that the assets have been used for the first half of the year and the rest of the depreciation amount will be deductible at the end of the year. So the entire useful value of the asset is taken for the amount of cost of recovery in the year 2019.

Answer:

A.) Overhead rate = 200% of direct labor cost.

B.) $67.5 per machine hour ; $180 per setup

C.) The traditional costing applies overhead burden rate equally to all products which might sometimes give a vague picture of production cost especially that which is applied to each different product.

With the activity based costing method we could see that machining activity setup rate about 26 times the machining activity rate.

Explanation:

Overhead rate using the plantwide approach

Overhead rate = (estimated overhead cost ÷ direct labor cost)

Overhead rate = ($450,000) ÷ (75,000 +150,000)

Overhead rate = $450,000 ÷ $225,000

Overhead rate = 200% of direct labor cost.

B.) Using activity costing

machining activity cost pool = $270,000

machine setup activity cost pool = $180,000

Total Machining activity hours = (2000 + 2000) = 4000

Total machine setup activity hours = (200 + 800) = 1000

Machining activity rate = (cost /hours) :

$270,000/4000 = $67.5 per machine hour

Machining activity setup rate = (cost /hours) :

$180,000/ 1000 = $180 per setup

Final answer:

The overhead rate using the traditional approach for Smithson, Inc. is calculated to be $2.00 per dollar of direct labor cost. The activity-based costing approach provides two rates: $135 per machine hour for machining and $180 per setup hour for machine setup. The difference in allocation highlights the greater accuracy of ABC by considering specific activities.

Explanation:

The question presented involves calculating overhead rates using both a traditional (plantwide) approach and an activity-based costing (ABC) approach for a company named Smithson, Inc. This company produces two types of gas grills: a family model and a deluxe model.

Traditional Overhead Rate Calculation

To calculate the overhead rate using the traditional approach, we first add the direct labor costs for both models, which is $75,000 + $150,000 = $225,000. The total estimated overhead costs are $450,000. The traditional overhead rate is calculated by dividing the total estimated overhead costs by the total direct labor costs, giving us a rate of $2.00 per dollar of direct labor cost ($450,000 / $225,000).

Activity-Based Costing Overhead Rates

For the ABC approach, we have two activity cost pools: machining ($270,000) and machine setup ($180,000). The overhead rate for machining is calculated based on machine hours (2,000 for both models), resulting in a rate of $135 per machine hour ($270,000 / 4,000 hours). For machine setup, the rate is based on setup hours (1,000 hours total), yielding a rate of $180 per setup hour ($180,000 / 1,000 hours).

Difference in Allocation Between Approaches

The difference in overhead allocation between the two approaches would depend on the actual distribution of machines and setup hours for each model. ABC tends to be more accurate as it allocates overhead based on the actual activities that incur costs.

Answer:

Using equation

F=P(1+i)^n

n=5

F=500,000

P=325,000

500,000=325,000(1+i)^5i

i=8.99%

Answer:

9%

Explanation:

to calculate the compounding growth rate we can use the future value formula:

future value = present value x (1 + r)ⁿ

$500,000 = $325,000 x (1 + r)⁵

(1 + r)⁵ = $500,000 / $325,000 = 1.53846

1 + r = ⁵√1.53846 = 1.08997

r = 1.08997 - 1 = 0.08997 or 8.997%≈ 9%

Even though the present value formula is used to calculate compounding interest rate, it can also be used to calculate compounding growth rate.

Answer:

Cost of land = $1,005,000

Cost of building = $4,275,000

Explanation:

The calculation of cost of the land and new building is shown below:-

Cost of land = Purchase cost + Demolition of old building + Legal fees for title investigation and purchase contract - Salvaged materials

= $960,000 + $ 60,000 + 15,000 - $30,000

= $1,005,000

Cost of building = Architects Fees + Construction costs

= $105,000 + $4,170,000

= $4,275,000

Answer:

the correct answer is d. variety

Explanation:

data variety refers to that the data are coming from various sources and require processing and further attention to make them useful and to convert them into purposeful information.

Answer:

Skill based pay programs

Explanation:

Skill based pay program is a system that rewards employees who brings in formal certifications of skills, knowledge and/or competencies in exchange for additional pay. In skill based pay programs, payments are on the basis of how many skills does the employee have or how many jobs can they do or handle. Employees in organizations using this method gets pay based on getting skills and continually honing job related skills. It increases are linked to the number or depth of skills an employee achieves and applies and it as a means of developing broader and deeper skills among the workforce.

Answer:

skill-based pay programs

Explanation:

Skill-based pay (SBP) it is a compensation system that recompenses member of the work force with additional pay in exchange for formal certification of the employee's mastery of skills, knowledge, and/or competencies. Such idea keep each worker on his or her toes to know more and do more because there will be more reward.

Answer:

1 Needless and preventable machine injuries related

Explanation:

Heavy engineering businesses encourage employees to use safety equipment. Which type of controllable risk are they trying to avoid? Heavy engineering businesses encourage their employees to use safety equipment, such as gloves and protective clothing, to avoid risks.

1 Needless and preventable machine injuries related

Answer: its human risks.

Explanation: I took lé test

Answer:

B) credit to Manufacturing Overhead for $32,000.

Explanation:

Total manufacturing overhead = (milling department machine hours + cutting department machine hours) x overhead rate per machine hour = (2,400 + 4,000) x $5 = $32,000.

Since the manufacturing overhead expense is allocated to the asset produced, the expense is credited. Once the product is sold, the expense will become part of the cost of goods sold and they will be debited.

Final answer:

The entry to assign overhead for the Price Company, with machine hours logged by the Milling and Cutting Departments and an overhead rate of $5 per machine hour, results in a combined overhead cost of $32,000. The correct entry would be a debit to Work in Process for $32,000 to allocate the overhead costs accurately, with the provided options somewhat misstating the precise accounting treatment.

Explanation:

The Price Company assigns overhead based on machine hours. To determine the entry to assign overhead, we calculate the total overhead by multiplying the machine hours by the overhead rate for both departments. The Milling Department logged 2,400 machine hours and the Cutting Department logged 4,000 machine hours. With an overhead rate of $5 per machine hour, the total overhead cost is calculated as follows:

Milling Department: 2,400 machine hours x $5 = $12,000

Cutting Department: 4,000 machine hours x $5 = $20,000

The combined overhead for both departments is $12,000 + $20,000 = $32,000. Therefore, the correct entry to assign overhead would debit the Work in Process account for $32,000 to reflect the allocation of overhead costs based on machine hours.

The correct answer to whether the entry to assign overhead will show a debit or a credit, and to which account, depends on the information given. The closest correct option provided is a) debit to Manufacturing Overhead for $32,000, although the most accurate description would be a debit to Work in Process for $32,000, reflecting the combined overhead costs assigned to the Milling and Cutting Departments.

Answer:

$0.07

Explanation:

Given that

Initial price = 4800

Current price = 5500

Initial quantity = 5000

Current quantity = 15000

Recall that

Marginal cost = (change in price) ÷ (change in quantity)

Thus

MC = (5500 - 4800) ÷ (15000 - 5000)

= 700 ÷ 10000

= $0.07

Note that, marginal cost refers to the extra cost added in producing 1 additional unit of product or output

Answer: 7 cent

Explanation:

The term marginal cost refers to the additional cost incurred by producing one more unit of a good or service. Therefore, marginal cost is the change in the total cost of an item when the output increases by a unit.

In the scenario above,

Cost of printing 5000 postcards = $4,800

Cost to print 15000 post cards = $5,500

Tha marginal cost per postcard for the additional 10,000 postcards will be :

Change in total cost :

$5,500 - $4,800 = $700

Change in quantity :

15,000 - 5,000 = 10,000

Marginal cost per unit :

$700 / 10,000 = $0.07

$0.07 = 7 cent

Marginal cost per unit = 7 cent

Answer:

31,000 units

Explanation:

The movement in the balance of inventory between the beginning and end of a given period is usually as a result of production and sales.

This may be expressed mathematically as ;

Opening balance + production - cost of goods sold = closing balance

10,000 + units produced - 40,000 = 1,000

Unit produced = 40,000 + 1,000 - 10,000

= 31,000 units