The increase of the new SUV from $24,000 to $26,000 after the agreement illustrates a low-balling technique.
What is a low-balling technique?This is a tactics used when the persuader gets a person to commit to a low offer that they have no intention of keeping and then, the price is suddenly increased.
Hence, the increase of the new SUV from $24,000 to $26,000 after the agreement illustrates a low-balling technique.
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What is the purpose of cost accounting iss?
The main purpose of cost accounting is to find out the cost of the various processes in the business so that selling prices can be fixed appropriately.
What is cost accounting?
This is an accounting method that allows companies to find out the cost of various processes and transactions they embark on.
Knowing these costs will enable the company to know the price it can charge on goods so that it can recoup these costs and make profits.
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how would it help the company where you worked to maximize profits if you received advanced training
If i received advanced training the company would benefit and have more profits because less people will be needed to be employed as a result of my professionalism.
What is the benefit of advanced training?Advance training are those training that can improve ones knowledge in the field of work.
However, undergoing this training especially in the financial sector can help the trainee to be able to use the knowledge to maximize the profit such as getting some certification in financial field.
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On January 1, a company's allowance for doubtful accounts had a credit balance of $21,000. During the year, it had net credit sales of $800,000 and it had $25,000 of uncollectible accounts receivable that were written off. Past experience indicates that the allowance should be 8% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 is $300,000, what is the bad debt expense for the year
Based on the percentage of the receivables that go to the allowance account and the accounts receivable balance, the bad debt expense is $24,000.
How can the bad debt expense be found?This is found as:
= (Accounts receivable balance x Percentage of receivables ) + (Amount written off - Credit balance on allowance account)
Solving gives:
= (300,000 x 8%) + (25,000 - 21,000)
= 24,000 + 4,000
= $28,000
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Which of the following is true of specialty stores? Group of answer choices They carry a deep assortment of merchandise within a single category of interest. They offer consumers very limited service and carry a vast assortment of well-known, nationally branded goods such as toys, housewares, and clothing. They carry a wide range of products and specialty goods, including apparel, cosmetics, housewares, electronics, and sometimes furniture. They price products lower than specialty discount stores.
The correct option is that they carry a deeper by narrower assortment of merchandise within a single category of interest.
What is a specialty store?This refers to a retail store which lay emphasis on selling products which have specific category. It is to be noted that specialty store have a wide selection of products but few categories.
Hence, the correct option is that they carry a deeper by narrower assortment of merchandise within a single category of interest.
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Compared to coffee, we would expect the cross elasticity of demand for: Group of answer choices tea to be positive, but negative for cream. tea to be negative, but positive for cream. both tea and cream to be negative. both tea and cream to be positive.
Tea to be negative, but positive for cream is the cross elasticity of demand as compared to the coffee.
What is cross elasticity demand?When the price of one of the items varies, the cross elasticity of demand analyzes the link between the two. It illustrates how the relative shift in demand for one good changes as the cost of the other increases or decreases.
Thus, option B is correct.
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The field of accounting that focuses on providing information for external decision makers is.
Morse Company reports total contribution margin of $68,640 and pretax net income of $13,200 for the current month. The degree of operating leverage is:
The degree of operating leverage is [tex]0.83[/tex].
What is the degree of operating leverage?How much a company's operating income alters in reaction to a change in sales is measured by the level of operating leverage.Analysts can assess the effect of any change in sales on business earnings using the DOL ratio.Due to the high percentage of fixed expenditures in an organization with high operating leverage, a significant increase in sales may result in outsized changes in profitability.Operating leverage formula:[tex]\frac{FC}{TC} = \frac{FC}{FC+VC}[/tex]
Where FC is a fixed cost, TC is the total cost and VC is a variable cost.
Solution -Contribution margin is $68,640 and pretax net income is $13,200.
So, applying the values in the formula we will get:
[tex]\frac{68,640}{13,200+68,640}[/tex]
[tex]0.83[/tex]
Therefore, the degree of operating leverage is [tex]0.83[/tex].
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When gas prices are $2.73 per gallon, the annual supply for gas in New York State is 135 billion gallons and the annual
demand is 141 billion gallons. When the price increases to $3.26 per gallon, the annual supply increases to 147 billion gallons and the
demand decreases to 137 billion gallons.
(a) Assuming that the supply and demand equations are linear, Ofind the supply and demand equations.
Supply Equation p =
Demand Equation p =
Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (in billions).
The slope and y-intercept should include 3 decimal places, or be left as fractions.
(b) Find the market price and quantity.
market price p =
market quantity q =
Note: The market price and quantity should include 3 decimal places (or left as fractions), and the market price should include a dollar
sign.
The supply equation is p = 0.044q - 3.21.
How to compute the supply equation?The supply will be:
p = mq + b
2.73 = 135m + b
3.26 = 147m + b
Subtract both equations
12m = 0.53
m = 0.53/12
m = 0.044
We'll substitute it and this will be:
2.73 = 135m + b
2.73 = 135(0.044) + b
2.73 = 5.94 + b
b = -5.94 + 2.73 = -3.21
The supply equation will be
p = mq + b
p = 0.044q - 3.21
The demand equation will be:
2.73 = 141m + b
3.26 = 137m + b
Subtract the equations
4m = -0.53
m = -0.1325
2.73 = 141m + b
2.73 = 141(-0.1325) + b
b = 2.73 + 18.68
b = 21.41
The demand equation will be
p = -0.1325q + 21.41.
The equilibrium condition will be:
0.044q - 3.21 = -0.1325q + 21.41.
0.044q + 0.1325q = 21.41 + 3.21
0.1765q = 24.62
q = 140
Equilibrium quantity = 140
The market price will be:
p = 0.044q - 3.21
p = 0.044(140) - 3.21
p = 2.95
The market price is 2.95.
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Assume that the market for pencils is perfectly competitive. The market equilibrium price is $0.50 and Perry's Pencil Company has been selling 10,000 pencils per month. If he sells one more pencil, his marginal revenue will be
The marginal revenue is $0.5 which is being earned if the company sells one more pencil.
What is total revenue?Total revenue is the amount being obtained by the firm after selling the goods and services in the market.
Given values:
Quantity sold: 10,000 units
Marginal quantity: 10,001 units
Equilibrium price: $0.50
Computation of marginal revenue earned:
[tex]\rm\ Marginal \rm\ revenue=\frac{ \rm\ Additional \rm\ revenue-\rm\ Total \rm\ revenue}{\rm\ Total \rm\ quanitiy - \rm\ Additional \rm\ quantity} \\\rm\ Marginal \rm\ revenue=\frac{ 10,001 \times\ \$0.50 - 10,000 \times\ \$0.50}{10,001-10,000} \\\rm\ Marginal \rm\ revenue=\frac{\$5,000.50-\$5,000}{1} \\\rm\ Marginal \rm\ revenue=\$0.50[/tex]
Therefore, when the company sells one more pencil then it earned a marginal revenue of $0.50.
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A. the ability to merely project one's abilities in the lack of actual accomplishments B. the ability to reduce the dependence of team members on each other C. the ability to induce the team members to focus on individual goals rather than collective goals ormal leadership D. the ability to influence a group toward the achievement of a vision or set of goals E. the ability to use factors like training and experience to reduce dependence on f
A leadership is best described as the ability to influence a group toward the achievement of a vision or set of goals.
What is a leadership?In a formal setting, this refers to individual ability to influence, lead and guide others people to accomplish a predetermined mission in the manner desired.
Hence, it is best described as the ability to influence a group toward the achievement of a vision or set of goals.
Therefore, the Option D is correct.
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d) Identify and explain two reasons why accurate market research
information should be accurate
Answer:
When businesses are deciding how to develop their products and services, they undertake market research. Market research can either be done by the company itself or taken from elsewhere. Having reliable market research data is essential. Basing decisions on unreliable research can be very costly to a business. For research to be reliable, it must have a high level of validity. This means that the facts and evidence gathered are accurate.
Two reasons why market research should be accurate:
Business Risks: Regular market research will be your way to check in with your current customers and potential customers to ensure that you’re still meeting their needs. If it is accurate business risks are reduced but if inaccurate, it could lead to the crash of your business.
Decision-making: The need for and importance of marketing research frequently comes up when making tough business decisions. Instead of having arbitrary criteria for the decisions you make as a business owner, you can always go back to your market research report. Based on that report, will this decision lead to more customers? Will you be able to reach more people who are likely to buy from you? Will it be clear to them that your business can meet their needs? With an accurate market research, the business can make properly informed decisions but with inaccurate market research, the business will be making unwise decisions
S Corporation makes 43,000 motors to be used in the production of its sewing machines. The average cost per motor at this level of activity is: Direct materials $ 10.20 Direct labor $ 9.20 Variable manufacturing overhead $ 3.80 Fixed manufacturing overhead $ 4.75 An outside supplier recently began producing a comparable motor that could be used in the sewing machine. The price offered to S Corporation for this motor is $26.05. If S Corporation decides not to make the motors, there would be no other use for the production facilities and none of the fixed manufacturing overhead cost could be avoided. Direct labor is a variable cost in this company. The annual financial advantage (disadvantage) for the company as a result of making the motors rather than buying them from the outside supplier would be:
The annual financial advantage is $438,600.
What is Variable manufacturing overhead?The running expenses of a business that change according to the volume of sales or production are known as variable overhead. Variable overhead goes along with changes in production output.What is Fixed manufacturing overhead?The real cost of manufacturing is incurred and is unaffected by variations in production volume. Examples include real estate taxes, rent, equipment, and building depreciation, as well as the salary of manufacturing managers.What is Variable cost?An expense for the company that varies according to how much is produced or sold is called a variable cost. Depending on a company's production or sales volume, variable costs grow or fall. They climb as production rises and reduce as production declines.Solution -To find the annual financial advantage divide Cost of Making Cost of Buying Increase by the Decrease in Income Direct materials.
Cost of Making Cost of Buying Increase / the Decrease in Income Direct materials.
43000 / 10.2 = 438,600
Therefore, the annual financial advantage is $438,600.
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Which form of personal power is used by leaders?
The form of personal power is used by leaders is Referent power.
What is Referent power?Referent power can be described as a kind of power that can be gotten by the leader's ability to influence and inspire those that he is leading especially in government.
It can be regarded as the adoration and respect that the leader gets as a result of his influence on his subordinates and other managers that are below him in the organization.
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To win back customers after they have discontinued service, when should the initial communication be made? g
The following methods can be used to successfully win back customers after they have discontinued service.
Successfully Re-engage Customers:Consider the primary cause of the customer's initial reluctance. Take some time to consider what drove your brand to this point before developing unique methods for your re-engagement plan.Surveying your consumers is one of the finest ways to find the answers to your inquiries. Based on how long a consumer has been away from your store, create a survey and email it to them.Targeted email campaigns are a wonderful strategy to re-engage clients in addition to providing a generic email newsletter based on their prior actions and behaviours. Digital re-targeting is the practice of setting cookies on visitors to your website or social media profiles, or tagging them, and classifying them into groups depending on the pages they visit and how they interact with your website.Existing clients that have already chosen to use your brand for commercial purposes are quite valuable. Don't let them disappear into oblivion.
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Gross domestic product calculations count only final goods and services because ______.
Gross domestic product calculations count only final goods and services because counting all intermediate goods and services would lead to double-counting of many activities.
What is gross domestic product?The GDP of a country is what measures the total output of goods and services produced in a country. In other words, it measures the standard of living of a country's citizen.
The gross domestic product is a broad monetary measure of a nation’s overall economic activity.
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a 12oupon bond, semiannual payments, is callable in 3 years. the call price is $1,120; if the bond is selling today for $1,110, what is the yield to call?
Based on the coupon rate, the call price and the selling price, the yield to call is 11.06%.
How is the yield to call found?The formula to find it is:
= (Coupon + (Call price - Current price) / Number of periods ) / ( (Call price + Current price) / 2 ) x 2
Solving gives:
=( (12%/2 x 1,000) + (1,120 - 1,110) / 6 semi annual periods ) ) / ( (1,120 + 1,110) / 2) x 2
= (61.667 / 1,115) x 2
= 11.06%
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Miracle Pill. Katie advertised that she had developed a pill for women that would result in weight loss, wrinkle loss, and improved vitality; and for men would result in all those things, plus hair growth. Her television advertisement showed miracle results allegedly obtained by consumers. Katie cautioned, however, that ingestion of the pill for six months was required before results would be evident. The pill was wildly popular. The Federal Trade Commission, however, investigated and determined that Katie had failed to have a reasonable basis for the claims she made in advertisements. Katie claimed that she was merely involved in the use of generalities and clear exaggerations. The Federal Trade Commission disagreed and issued a formal administrative complaint against her. After a hearing, the Federal Trade Commission issued an order requiring that Katie stop advertising and selling the pills. After losing all appeals, Katie continued selling the pills until she was fined by the Federal Trade Commission. She has since left the country and cannot be located. Who would have presided over the hearing involving the administrative complaint filed against Katie by the Federal Trade Commission?a) A state circuit court judgeb) A federal district court judgec) An administrative law judged) A panel of commissioners of the Federal Trade Commissione) The full commission of the Federal Trade Commission
An administrative law judged would have presided over the hearing involving the administrative complaint filed against Katie by the Federal Trade Commission.
What is Administrative law?Administrative law serves as the branch of our law that support the administrative agencies, with power so they can imposes certain requirements on them to be able to gives solutions to when there is wrongful administrative acts.
Federal Trade Commission can be considered as an agency here and that was why it can make an order requiring that Katie stop advertising and selling the pills.
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Financial managers examine the financial data prepared by __________ and make recommendations to top executives about strategies for improving the financial strength of a firm. Multiple Choice managers accountants financial analysts stock brokers
Answer:
Financial managers examine the financial data prepared by accountants_____ and make recommendations to top executives about strategies for improving the financial strength of a firm. Multiple Choice managers accountants financial analysts stock brokers
Oriole industries had sales in 2021 of $7,480,000 and gross profit of $1,210,000. management is considering two alternative budget plans to increase its gross profit in 2022. plan a would increase the selling price per unit from $8.00 to $8.40. sales volume would decrease by 137,500 units from its 2021 level. plan b would decrease the selling price per unit by $0.50. the marketing department expects that the sales volume would increase by 143,000 units. at the end of 2021, oriole has 47,000 units of inventory on hand. if plan a is accepted, the 2022 ending inventory should be 43,000 units. if plan b is accepted, the ending inventory should be equal to 78,000 units. each unit produced will cost $1.50 in direct labor, $1.30 in direct materials, and $1.20 in variable overhead. the fixed overhead for 2022 should be $2,086,000. prepare a sales budget for 2022 under each plan.
The sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
Sales Budget for 2022Plan A
Sales (units) 797,500
($7,480,000/$8=937,500)
(935,000-137,500=797,500)
Selling Price $8.40
($8.00 + $0.40)
Sales (dollars) $6,699,000
(797,500×$8.40)
Plan B
Sales (units) 1,078,000
(935,000+ 143,000=1,078,000)
Selling Price $7.50
($8.00 - $0.50)
Sales (dollars) $8,085,000
(1,078,000×$7.50)
Therefore the sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
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Identify the correct definition of economy. Click or tap a choice to answer the question. an exchange of goods and services one for the other a practice in which a nation-state extends power beyond its own borders over an extended period of time to secure access to certain commodities in other regions a system of financial transactions within a country a cultural adaptation that enables a group of humans to use land, resources, and labor to satisfy their needs
The correct definition of an economy from the list of options is a cultural adaptation that enables a group of humans to use land, resources, and labor to satisfy their needs
What is Economy?
This refers to the production of goods and the distribution of the goods to people to satisfy a need.
Hence, we can see that the correct answer that gives the best definition of an economy is the last option as it shows the use of land and other resources to satisfy their needs.
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Government provisioned goods and services for the poor, such as food or medical services, job training, or subsidized child care, are known as ________.
Government provisioned goods and services for the poor, such as food or medical services, job training, or subsidized child care, are known as Welfare or Consumer Subsidies
What are Welfare ?
Welfare are the subsidies the government pays to the fraction of people who are unemployed, poor, or ill. The payment which is paid by the government for welfare purpose i.e.; for poor people or jobless people.
What is Consumer Subsidies ?Subsidy means government pays part of the cost. Now, consumer subsidies means the government gives the subsidy to the consumer to reduce the price of goods and services .A subsidy is an incentive given by the government to individuals or businesses in the form of cash, grants, or tax breaks that improve the supply of certain goods and services.
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How are time tickets and materials requisition slips similar?
Time tickets and materials requisition slips are similar to. The cost associated with both must be credited to the Work in Process Inventory. Option A. This is further explained below.
What are time tickets?Generally, A time ticket is a form filled out by workers to keep track of their working hours.
In conclusion, Both time tickets and materials requisition forms have certain similarities. Both must be accounted for in the Work in Process Budget.
Complete QuestionHow are time tickets and materials requisition slips similar?
The cost associated with both must be credited to the Work in Process Inventory. Costs associated with both must be recorded in the general ledger and job cost sheets.
Costs associated with both must be debited to Manufacturing Overhead.
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explain the different process for the development of decision making skill?
companies using _____ revenue model charge a fee based on the value of the service provided on the web.
Companies using fee-for-service revenue model charge a fee based on the value of the service provided on the web.
What is service charge?Service charge is certain amount of money paid by an individual for a service rendered.
The amount is paid based on the charge pose on the individual.
Therefore, companies using fee-for-service revenue model charge a fee based on the value of the service provided on the web.
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Coca-Cola costs the consumer about the same as Pepsi, Dr Pepper, and other soft drinks. The soft drink industry generally follows a status quo pricing policy, which means that it _______. a. enables management to recover its product development costs quickly b. discourages or blocks competition from entering a market c. charges a price identical to or very close to the competition's price d. expands production with the use of technological innovations and tools
Coca-Cola costs the consumer about the same as Pepsi, Dr Pepper, and other soft drinks. The soft drink industry generally follows a status quo pricing policy, which means that: option c, it charges a price identical to or very close to the competition's price.
What does the term status quo mean?This is a term that has to do with the current state of affairs or the way that things may seem at the moment.
From the definition that we have here, it can be said that Coca cola is charging at the current state that similar products are charging.
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A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.
A company can learn a great deal by analyzing the degrees of brand loyalty. For example, split loyals can show the firm which brands are most competitive with its own.
Brand loyalty: what is it?A customer's positive attitude toward a particular brand is known as brand loyalty. Customers may continuously choose a specific brand if they have a high level of brand loyalty when they need a product from this category. Brand recognition, brand preference, and brand insistence are the three levels of brand loyalty.
What levels of brand loyalty are there?Here are the phases of brand loyalty in brief:
Focused on creating awareness and leads, attractionTurning leads into customers is known as conversion.Engaging with new clients through follow-up.Reward devoted clients by providing them with greater benefits.What five traits define a brand's loyalty?These include dedication, brand trust, customer satisfaction, and customer perceptions of value.
What in marketing is split loyalty?Split Loyals: Individuals that support two or three brands. Shifting Loyals is the act of switching brands. Switchers: unreliable individuals (possibly "deal prone", constantly looking for bargains or "vanity prone", looking for something different).
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When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions, the organization is viewing them as ______.
When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions, the organization is viewing them as human capital.
What is human capital organization?Human capital is referred to as an intangible asset for any firm but is absent from the balance sheet of a corporation. Human capital, which includes an employee's education, health, intelligence, punctuality, values, ethics, corporate citizenship, and loyalty, is the economic value of their knowledge, abilities, and experience.
Thus, it is human capital.
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All of the following were instrumental in suburban life and the rise of the subdivisions except a. the construction of malls. b. government-backed low-interest loans to returning veterans. c. the availability and affordability of cars. d. the loss of a communal city center.
All of the following were instrumental in suburban life and the rise of the subdivisions except the construction of malls. Option A. is the correct answer. Read below about suburban.
What is a suburban?Suburban areas are lower in population area that separate residential and commercial areas from each other. They are either part of a city or urban area, or exist as a separate residential community within commuting distance of a city.
Therefore, such will lack social amenities such as malls. Hence, option A. is the correct answer.
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in which of the following situations would a functional resume be more preferable to a chronological resume?
The situation that a Functional resume would be preferred to a chronological resume is when a person has large gaps in employment.
What is a Functional Resume?This refers to type of resume that shows the skill set of a person instead of work experience.
Hence, we can see that for a person that has large gaps in employment, it would be more preferable to use functional resume to show his professional skill set.
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Control over cash disbursents is generally more effective when
The control over cash disbursements is generally more effective when payments are made by check.
What is a cash disbursements?Also known as cash payment, its refers to the outflow of cash paid in exchange for the provision of goods or services
Hence, the control over cash disbursements is generally more effective when payments are made by check.
Therefore, the Option D is correct.
Missing option a) all bills are paid in cash. b) disbursements are made by the accounts payable subsidiary clerk. c) all purchases are made on credit. d) payments are made by check.
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