1. Which of the following is an example of your MVP?
a. Manufacturing-ready product design
b. An app with all potential features integrated
c. An initial pilot connecting the customer with end users manually
2. What are ways you can find potential business ideas?
a. Waiting for an aha moment
b. Customers needs: customers who are being underserved
c. Market trends: copying the coolest things in the market
3. Bill wants to get input on his business idea from his friends. Which of the following should he do?
a. He should start by asking them questions about the problem he’s solving
b. He should tell them about his entire product and all the cool things about how it works, then ask if they like it
c. He should get the idea patented before telling others so they don’t steal it
d. He shouldn’t tell anyone his idea
Answers
Answer:
my answer yan po
Explanation:
1.D 2.A 3.C
According to the question An initial pilot connecting the customer with end users manually is an example of your MVP. Therefore option C is correct.
Around 20% of startups fail in their first year of operation, according to the Bureau of Labor Statistics. Inadequate business models, fierce competition, team member lack of funds and enthusiasm, improper market analysis, and other factors are some of the causes. With the use of a minimum viable product, some of these issues can be anticipated and avoided.
A minimum viable product enables business owners to gain insightful first-hand knowledge about their offering. A company introduces a product with a constrained set of capabilities. In this approach, they may evaluate the viability of their product before making big investments and save time and money.
Business owners determine whether there is a market need for their product, whether it is competitive, and whether it can satisfy the audience's needs by analyzing the input from customers. As a result, a business can produce a product faster and use fewer development iterations.
Therefore option C is correct.
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Related Questions
What is the function of the evaporator?
Answers
Answer:
The evaporation of water is a physical process by which water changes from a liquid state to a gaseous state or water vapor. This process takes place on the surface of the water from a certain temperature and until the space is saturated with steam.
I NEED THE 3 HIGHLIGHTED QUESTIONS ANSWERED ASAP!!!
Answers
1. The advice that I will give someone considering a similar move today is to ensure that they have another skill rather than depending on the company alone.
2. The company influenced their lifestyle as they were more socially inclined.
3. The risk that I see going forward is about new competition from other.
How to explain the excerpt?It should be noted that the story is about three sisters who set up their own company after realizing the harsh economic conditions they faced in their previous company.
This shows the importance of skills and believing in oneself. In this case, going forward, they will face competition from new businesses.
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1. Why is running a Website typically lesa
expensive than running a storefront business?
Answers
Answer:
storefront businesses mean electricity bills, water bills, employee payments, while a website you usually pay one fee and get paid.
A successful data-driven market segmentation program depends on each of the following except:
a.
the rejection of tradiitional marketing research techniques
b.
the use of transactional and event data
c.
a common definition of market segments across all areas of the business
d.
developing a centralized and accessible CRM (Customer Relationship Management) database
Answers
A successful data-driven market segmentation program depends on the "use of transactional and event data", "a common definition of market segments", "and the development of a centralized CRM database" but it does not depend on "the rejection of tradiitional marketing research techniques".
The correct option to the given question is option a.
Traditional marketing research techniques, such as surveys, focus groups, and interviews, have long been used to gather insights about consumer behavior and preferences. While these techniques may have limitations, they still play a valuable role in understanding customer motivations and attitudes. Data-driven market segmentation programs can benefit from a combination of both traditional and data-driven research approaches. The use of transactional and event data is crucial for a data-driven market segmentation program. This type of data provides valuable information about customer behaviors, purchase patterns, and interactions with the business.
Having a common definition of market segments across all areas of the business ensures consistency and alignment in marketing efforts. This allows for targeted and personalized messaging that resonates with each segment. It also facilitates coordination between different departments, such as marketing, sales, and customer service, leading to a more cohesive and effective customer experience.
Finally, developing a centralized and accessible CRM database is essential for managing and analyzing customer data. It enables the integration of data from various sources, such as transactions, interactions, and demographic information, into a single platform. This centralized database provides a comprehensive view of customers, enabling more accurate segmentation and personalized marketing initiatives.
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Joseph and Krystal are part of your social group. They joined Missile’s Financial Services together as middle managers. Each one, reports to a different senior manager. These senior managers report to the Managing Director. Once a month after payday, Joseph, Krystal and other members of the social group all try to have lunch together.
Joseph is very distressed. ‘I’ve had an awful week and this morning was the worst!’ He recounts what happen between himself and Nicholas, his manager.
‘Nicholas and I were to meet with a new supplier to finalize a contract. I have been dealing with the supplier all this time, over two and a half months and we just needed to finalize the costing. We had reached an agreement about the cost that both of us were comfortable with. For the past two weeks, I have been trying to get Nicholas to look at the contract and agree the figures etc. We really need this guy’s company. They are fast and have a great reputation for products and services. The price is good and they are willing to customize the stationary, with no additional cost to us. Anyway, Nicholas was always too busy to meet. I emailed him the contract and my teams thoughts on how we should proceed hoping he would read it.’ My team consists of the Accounts/Finance Manager, Inventory Manger, Legal, Research & Development, Public Relations Manager and I, and we meet at different times and days, whether collectively or selectively.
‘Anyway we, Nicholas and I, met with the supplier this morning. We are going through the contract, the next thing I know Nicholas says, ‘This won’t work for us. The cost is too high. Where did these calculations come from?’ ‘If the floor had opened up and swallowed me I could have not been more embarrassed. I mean I spent three weeks, working on it with the team Accounting, PR and Legal! Joseph shaking his head continued, ‘he just took over the conversation. I mean we got the contract signed but in the end all that happened was that the figures were rearranged we still end up paying the same.’ ‘I am tired of this foolishness. He stays locked in his office on his cell every day. Only God knows what he does in there.’
1. Do you believe that Nicholas is an unethical manager? Justify your response by choosing one of the ethical decision making concepts outlined in unit 2 to argue/support your writing.
2. From the chosen ethical decision making concept selected by you in question 1, show its relationship to any one of the variables in an analytical tool, outlined in unit 1, read.
Answers
1. Based on the information provided, it is not possible to ascertain whether Nicholas is an unethical manager. However, Joseph’s account of the situation raises some red flags about Nicholas’ behavior.
2. The chosen ethical decision-making concept is fairness, which is one of the key ethical principles in business.
1. Based on the information provided, it is not possible to ascertain whether Nicholas is an unethical manager. However, Joseph’s account of the situation raises some red flags about Nicholas’ behavior. It appears that Nicholas did not take the time to review the contract or the team’s thoughts, but still took over the conversation with the supplier and changed the figures. This behavior could be seen as a violation of the ethical principle of fairness, which involves treating others in a reasonable, equitable, and impartial way. Nicholas’ actions suggest that he did not give due consideration to the team’s input or their efforts to finalize the contract, which could affect their working relationship and trust in him as their manager.
2. The chosen ethical decision-making concept is fairness, which is one of the key ethical principles in business. Fairness is based on the idea of treating all stakeholders equitably and impartially, taking into account their needs, interests, and perspectives. In this case study, Nicholas’ actions appear to violate the principle of fairness by disregarding the efforts of Joseph and his team to finalize the contract, and making unilateral changes without adequate review or discussion.
To analyze this situation using an analytical tool, we can use the Stakeholder Mapping tool, which helps to identify and categorize stakeholders based on their level of interest and power. In this tool, stakeholders are divided into four categories: High power/high interest, High power/low interest, Low power/high interest, and Low power/low interest. In this case, Joseph and his team are the stakeholders with high power and high interest in the situation, as they are responsible for finalizing the contract.
Using the Stakeholder Mapping tool, we can see that Nicholas’ actions have the potential to undermine the trust and collaboration of high power/high-interest stakeholders, who are critical to the success of the project. Specifically, his actions may cause frustration, resentment, and loss of confidence in his management ability. This could result in a breakdown of communication and cooperation, which would ultimately affect the team’s performance and the overall success of the project. Therefore, it is important for Nicholas to consider the perspectives and input of all stakeholders, including those with high power and high interest, when making decisions that affect them. By doing so, he can ensure that his decisions are ethical, fair, and aligned with the needs of all stakeholders.
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Callie Brent's credit card statement for March 31 showed a previous balance of $210.40 and new purchases of $22.31 on 3/11, $12.11 on 3/18, and $34.85 on 3/23. She made a payment of $210.40 on 3/27. What is Callie's new balance?
Answers
If Callie Brent's credit card statement for March 31 showed a previous balance of $210.40 and new purchases of $22.31 on 3/11, $12.11 on 3/18, and $34.85 on 3/23. She made a payment of $210.40 on 3/27. What is Callie's new balance is $69.27.
What is the new balance?Let make use of this formula to determine the new balance
New balance = Previous balance + 3 / 11 ew purchase + 3 / 18 New purchase+ 3 / 23 New purchase - Payment
Let plug in the formula
New balance = $210.40 + 22.31 + $12.11 + 34.85 - 210.40
New balance = $69.27
Therefore we can conclude that the new balance is the amount of $69.27.
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in the exchange process between employee and organization, which of the following is NOT invested by the employee? A. Effort B. Creativity C. Time D. Benefits E. Skills
Answers
The employee does not spend in the benefit throughout the interaction process seen between company and the worker.
How should employees be categorized?One of two situations could be referenced by an employee classification: According to federal and provincial wage and hour rules, for example the Federal Fair Labor Standards Act (FLSA), and governs minimum wage, overtime, documentation, and child labour standards on a nationally, an employee is classified as either exempt or non-exempt.
What qualifies someone as an employee?A person who works under such an employment agreement, or a document that outlines the policies and procedures governing the operating relationship between an employer & employment, along with the rights and responsibilities of the parties, is referred to as an employee.
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If a city of 100,000 people invests 1 billion dollars in a major electrical improvement project, What is the direct impact for businesses?
Answers
Answer:
A. is correct
Explanation:
2. What are the main personal skills needed to deal with conflict between other people?
Answers
Answer:
Communication.
Emotional intelligence
Explanation:
The first step of the financial planning process is to:
Answers
Answer:
Review Of Current Financial Situation
Explanation:
The first step in the financial planning process involves taking a detailed look into a person's current financial situation. This means examining a person's savings, income, debts and current living expenses.
Answer:
Creating and implementing a financial action plan..
Hope it helps:)
name three benefits of being a for-profit business
Answers
Answer:
Owner Income
Owner Income
Company Morale
Explanation:
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Which of the following is an advantage of engineering controls?
Answers
C : Because they modify the work environment and equipment to reduce or isolate the worker from the source of the exposure to a hazard, engineering controls are more effective than administrative and PPE controls.
What advantages do engineering controls provide?By removing hazardous conditions or putting a barrier between the worker and the hazard, engineering controls safeguard workers. Local exhaust ventilation, which collects and removes airborne emissions, and machine guards, which protect the worker, are two examples. Installing guardrails to prevent falls, using portable air conditioners to combat heat stress, limiting exposure to hazardous chemicals through ventilation, and installing noise absorption panels to reduce high noise levels are all examples of engineering controls.
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Complete question :
Which of the following is an advantage of engineering controls?
a. Administrative controls.
b. Personal protective equipment (PPE).
c. protect workers .
If Jerry deposits $462 of cash in a checking account in the Tenth National Bank, what's the maximum change in the money supply in the economy
Answers
Answer:
$4620
Explanation:
It is assumed that the required reserve is 10%
Reserve requirement is the portion of deposit received by banks that the central bank requires to be kept as deposit.
Increase in the total value of checkable deposit is determined by the money multiplier
Money multiplier = amount deposited / reserve requirement
462 /0,1 = $4620
Feed the Hungry Children, a (fictitious) not-for-profit tax-exempt entity under IRC Sec. 501(c)3, has been in operation for six years. The mission of the group is to provide healthy breakfast meals to children in inner city schools, so they can best learn. A wealthy local philanthropist has been meeting with the organization hoping to change the direction of the organization in return for a $1,000,000 permanent endowment donated to the group. While these negotiations were taking place this year, the organization suspended its normal operations. The draft of the Form 990 for this fiscal year shows 0 revenues and 0 expenses for this fiscal year and penciled in is a $1,000,000 gift from the philanthropist. The treasurer of the Board is drafting the Schedule A for the Form 990 in preparation for reporting to the Board whether the organization's status has changed form a public charity to a private foundation. Go to the www.irs.gov website and obtain Form 990, Schedule A. In your own words, construct an argument to support why this tax-exempt entity is still a public charity.
Answers
Despite the suspension of normal operations and the potential $1,000,000 gift from a wealthy local philanthropist, there is still an argument to support that Feed the Hungry Children, the not-for-profit tax-exempt entity, remains a public charity.
1. Review the requirements for a public charity: According to IRC Sec. 501(c)3, a public charity must receive a substantial part of its support from public contributions and grants and be organized and operated for charitable purposes.
2. Examine the mission and purpose: Feed the Hungry Children's mission is to provide healthy breakfast meals to children in inner city schools, with the aim of helping them learn better. This aligns with a charitable purpose focused on improving the well-being of children and promoting education.
3. Consider the organization's history: Feed the Hungry Children has been in operation for six years, consistently providing healthy breakfast meals to children in need. Its long-standing commitment to charitable activities demonstrates a track record of serving the public interest.
4. Evaluate the potential gift: The $1,000,000 gift from the local philanthropist, although substantial, does not automatically change the organization's status from a public charity to a private foundation. The organization's eligibility is determined by its overall sources of support, not a single donation. If the gift does not significantly alter the public support test, Feed the Hungry Children can still maintain its public charity status.
5. Analyze the Form 990, Schedule A: The treasurer of the Board is preparing the Schedule A for the Form 990, which provides information about the organization's public support and support schedule. By reviewing this form, it will be possible to determine whether the organization's public charity status has changed or if it still meets the required criteria.
6. Document the argument: Compile the findings from the review, emphasizing the organization's charitable purpose, its history of serving the public, and the evaluation of the potential gift's impact on public support. Present these points in a well-structured and persuasive argument to support the conclusion that Feed the Hungry Children remains a public charity.
It is important to consult with legal or tax professionals for accurate and specific advice in interpreting tax laws and regulations related to the organization's status.
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Why is it important to take notes during long lectures or discussions?
a) To review material later
b) To make sure speakers do not change their opinion in later lectures
c) To reuse notes when giving a presentation
d) To quiz the speakers
Answers
Answer:
B. to make sure speakers do not change their opinion in later lectures.
At the end of its annual accounting period, the company must make three adjusting entries.
a. Accrue salaries expense.
b. Adjust the Unearned Revenue account to recognize earned services revenue.
c. Record services revenue earned for which cash will be received the following period.
For each of these adjusting entries, indicate the account to be debited and the account to be credited.
a. Debit
a. Credit
b. Debit
b. Credit
c. Debit
c. Credit
Answers
There are four different sorts of accounts that require adjusting. They are deferred revenues and expenses as well as accumulated revenues and expenses. Money earned during one accounting period but not received until another is referred to as accrued revenue.
What is accounting?Accounting is the activity of keeping records of a company's financial transactions. Journal entries are how the accountants condense the transactions. In bookkeeping, these entries are utilized.
According to the rules set forth by the auditors and other governing agencies, the accountants create the books of accounts. The accountants may adhere to IFRS (International Financial Reporting Standards) or generally accepted accounting principles (GAAP)
An analyst can gain a good picture of the company's financial status by reading the book of accounts. Therefore, the book of accounts is required to determine the firm valuation for publicly traded corporations.
The financial statements of a big company provide an overview of its operations, financial situation, and cash flows during a specific time period.
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"Be all you can be is an example" of a(n)
a) formal statement.
Ob) slogan or saying.
c) story, legend, or myth.
Od) role modeling.
e) rite and ritual.
Answers
Answer:
"Be all you can be is an example" of slogan or saying.
Explanation:
A slogan ir a saying is a phrase which is short and easy to remember. It is often used in advertisements.
For example
You are launching a protein powder brand where you kept the slogan as "Be all you can be" which depicts that the protein powder is capable of everything you need in your body.
Other Options are INCORRECT
A mission statement is something which describes the agenda, ethics, values of the orgaization which is Incorrect.
A story, legend or myth can't be described in a short phrase. Therefore, Incorrect.
A role modeling is an inspiring statement which is alrady present in ourself. But, here "Be all you can be" depicts that it is something that is yet to be achived. Therefore, Incorrect.
The frustration-regression principle of the ERG theory explains that when a barrier prevents an individual from obtaining a higher level need, a person may "regress" to a lower-level need (or visa versa) to achieve satisfaction.
True
False
Answers
The ERG theory illustrates that when a wall contains someone from getting a higher-level need, a person may "regress" to a lower-level need to gain satisfaction. This statement is True.
The frustration-regression direction of the ERG approach means that when a person is unable to meet a higher-level need, they may become frustrated and revert to a lower-level need that they can satisfy.
This means that if an individual is incapable to satisfy their growth needs, this is mainly due to a lack of opportunities for individual and skilled development, they may retreat to concentrating on their relatedness needs, such as building positive relationships with coworkers.
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The equity method of accounting for investments in voting common stock is most appropriate when: The investor's accountant is clever enough to apply the equity method. Only these times when the investor owns 10 to 49% of the voting stock. The investor intends to hold the common Stock indefinitely. The investor can significantly influence the investee. What situation requires one company to produce a consolidated financial statement with its investee? On January 1, 2014, Piedmont Inc. spent $200,000 to acquire 40% of the voting common stock of Taylor Company as a long-term investment. The data from Taylor's financial statements for the year ended December 31, 2014, include the following: Net income $150,000 Dividends paid $75,000 What should be the long term investment account balance for Piedmont at December 31, 2014? Show your calculations. Could the company's declaration of intent of their investments as "available for sale" rather than as "trading securities" possibly be used to manipulate reported income? Why or why not? What does an "other than temporary" (aka OTT) loss mean and what is an example of such event? Why would GAAP allow certain investments to be "written up" to their fair market value when, for virtually all other assets(inventory, property, intangibles), no "Write up" in value is allowed? In which financial statement, and in which section of that financial statement does "Accumulated Other Comprehensive Income" get disclosed?
Answers
Answer:yes it did
Explanation: the former calculations would be equaled to -35 so 45 celcuse north would be yes so its not negative.
Alexander Rees is concerned about appearing knowledgeable in exporting. What are
some of the factors he mentions in the project letter?
A-Finding good coffee
B-Developing a reliable source for twizzle sticks
C-Travel costs
D-Cultural Differences and exchange rates
Answers
Alexander Rees is concerned about appearing knowledgeable in exporting. The some of the factors he mentions in the project letter are
Travel costs
Cultural Differences and exchange rates
Thus option (C) and (D) are correct.
What is a cost?The cost is the expenditure or spending required or incurred to create and sell products and services, or to acquire assets.
When a product is sold or consumed, a cost is charged to expense. In the case of a buying of an asset, the charge to expense could be significantly deferred. The cost concept underlies the transition of assets from the balance sheet to expenses in the income statement.
Alexander Rees is concerned about appearing knowledgeable in exporting. Travel costs and Cultural Differences and exchange are some of the factors he mentions in the project letter.
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Accumulated depreciation
A.) Increase Liabilities
B.) Increase assets
C.) Decreases assets
D.) decreases liabilities
Answers
Cameron is part of a team of graphic designers. Though she shares the same title and performs the same tasks as the rest of her team, her co-workers often seek her advice and respect her opinion. Group members such as Cameron are called
Answers
Based on the fact that Cameron performs the same tasks as the rest of her team and yet her co-workers often seek her advice and respect her opinion, Cameron can be described as a negotiator.
Who are negotiator employees?These are employees in an organization who perform the role of an unofficial leader amongst their team.
As a result, their opinions are respected and people come to ask for advice from them even though they are at the same level with those seeking advice.
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There is a connection between the content of an advertisement and the characteristics of the media used to carry the message. This activity is important because each alternative of media is more suited to accomplishing different objectives than others. Also, all media choices have particular advantages and disadvantages that should be taken into account when planning a media strategy.
The goal of this activity is to demonstrate your understanding of the advantages and disadvantages of the various types of media available for advertising.
Read each advantage or disadvantage and match it to the type of media it best represents.
1 Newspapers
2 Direct marketing
3 Radio
4 Television
5 Magazine
6 Outdoor/billboard
7 Internet/mobile
Match each of the options above to the items below.
a. High cost: several channel and program options; may increase awareness of competitors' products.
b. Relatively inexpensive; can be selectively targeted; wide reach.
c. Very targeted; subscribers pass along to others.
d. Can be expensive some markets; advertisements have short life span.
e. Can be linked to detailed content; highly flexible and interactive; allows for specific targeting.
f. Is not easily targeted; has placement problems in some markets; exposure time is very short.
g. Highly targeted; allows for personalization.
Answers
Answer: a. Television
b. Radio
c. Magazine
d. Newspaper
e. Internet/Mobile
f. Outdoor/Billboard
g. Direct marketing
Explanation:
Based on the different types of media available, the answers to the items below will be:
a. High cost: several channel and program options; may increase awareness of competitors' products.
The above description is for Television.
b. Relatively inexpensive; can be selectively targeted; wide reach.
The above description is for Radio.
c. Very targeted; subscribers pass along to others.
The above description is for Magazine
d. Can be expensive some markets; advertisements have short life span.
The above description is for Newspaper.
e. Can be linked to detailed content; highly flexible and interactive; allows for specific targeting.
The above description is for Internet/Mobile
f. Is not easily targeted; has placement problems in some markets; exposure time is very short.
The above description is for Outdoor/Billboards
g. Highly targeted; allows for personalization.
The above description is for direct marketing
Suppose apples are currently selling for 50 cents a piece. Someone says that apple
sellers can't make a decent living if they sell their apples so cheaply. This person says
there should be a law stating that no one can sell an apple and no one can buy an apple
for less than 75 cents. A law to raise the income of apple sellers is suggested. What might
be an unintended consequence (effect) of this law?
Answers
All the individuals that buy the product for their personal consumption is called………
Answers
Answer:
A consumer
Explanation:
Valley Spa purchased $7,800 in plumbing components from Tubman Co. Valley Spa Studios signed a 60-day, 10% promissory note for $7,800. If the note is dishonored, what is the amount due on the note
Answers
Answer:
$7,930
Explanation:
Calculation for the amount due on the note
First step
(10%×$7,800×60-day/360 days)
=$130
Now let calculate the amount due on the note
Amount due on the note=$7,800+$130
Amount due on the note=$7,930
Therefore the Amount due on the note If the note is dishonored will be $7,930
acts as a medium of exchange between buyers and sellers.
Answers
Money is a medium of exchange for selling and buying goods and services.
Please help me with this. Please
Like organizations in other industries, the Houston Independent School District (HISD) believed it could direct, motivate, and improve performance with monetary rewards. The goal was to improve the skills and test scores of students at 40 underperforming schools.
Officials thought the underlying reasons for the underperformance were low performing teachers, as those at the target schools were twice as likely to be rated “ineffective” or “needs improvement” than in well-performing schools. Worse still, teachers at these same schools were half as likely to be rated “highly effective.” School district leaders reasoned that offering money—$5000 signing bonuses—would attract better teachers to the poor performing schools.
Officials spent nearly $7 million to incentivize highly rated teachers to move to the target schools in the 2017–18 school year, and they planned to spend a similar amount in 2018–2019. But there was a problem—it didn’t work. The 40 schools experienced tremendous turnover—40–60 percent of teachers at worst schools quit—but the teachers who replaced them had nearly identical (poor) ratings when they arrived.
This left officials scratching their heads. The dismal results might have been due to the fact they had no performance criteria for teachers to qualify for the bonus and move to one of the 40 schools. Moving to the worst performing schools could be perceived as very risky, as highly rated teachers’ performance could drop in a more challenging, underperforming school. Adding to the risk, some teachers would presumably be giving up a position at a “better” school. Of course, it also was possible $5000 just wasn’t enough for many.
Apply the 3-Step Problem-Solving Approach
Step 1: Define the problem HISD officials wanted to fix.
Step 2: Identify the potential causes of this problem. (Consider also the common reasons rewards fail to motivate.)
Step 3: Make your recommendations.
Answers
The problem that the officials here are trying to solve would be the fact that the students of the school are not doing well in the tests hence the need to get them teachers that would be better in ,making them learn.
What is a problem in research?This is the term that is used to refer to the situation that is in existent in a place that would require intervention and solution.
The potential causes of the problem that exists would be that the students are not learning in the best environment that would foster learning or it could be due to the fact that their teachers are not well able to teach in the most effective way. The environment may not be conducive for learning and it is possible that the students are not well motivated to learn.
The recommendation on how to solve this would be to ensure that the school is in a good situation where the needs of every child is meant to ensure that they are able to learn. Also the teachers have to be able to know the educational needs of the students and communicate in the best way possible.
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You have researched your dream around-the-world vacation and determined that the total cost of the vacation will be $33,000. You feel you can earn an APR of 10.8 percent compounded monthly and plan to save $395 per month until you reach your goal. How many years will it be until you reach your goal and enjoy your well-deserved vacation
Answers
Answer:
Explanation:
What 22
Fickel Company has two manufacturing departments—Assembly and Testing & Packaging. The predetermined overhead rates in Assembly and Testing & Packaging are $19.00 per direct labor-hour and $15.00 per direct labor-hour, respectively. The company’s direct labor wage rate is $21.00 per hour. The following information pertains to Job N-60: Assembly Testing & Packaging Direct materials $ 375 $ 39 Direct labor $ 168 $ 84 Required: 1. What is the total manufacturing cost assigned to Job N-60? (Do not round intermediate calculations.) 2. If Job N-60 consists of 10 units, what is the unit product cost for this job?
Answers
The total manufacturing cost assigned to Job N-60 is $ 696. If Job N-60 consists of 10 units, the unit product cost for this job is $111.00.
How to find the manufacturing costs ?Direct materials (Assembly + Testing & Packaging) = $375 + $39
= $414
Direct labor (Assembly + Testing & Packaging) = $168 + $84
= $252
Overhead applied (Assembly + Testing & Packaging) = $19 * 168 + $15 * 84 = $316 + $126
= $442
Total manufacturing cost = $414 + $252 + $442
= $1110
Unit product cost = Total manufacturing cost / Number of units
= $1110 / 10
= $111.00
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