Part I PURPOSE
The purpose of this assignment is to enhance learners' understanding of inventory and working capital management as well as financial ratio analysis. REQUIREMENT Answer all questions. Show your detailed workings clearly and coherently. QUESTION 1 (CLO 1) Explain the following inventory types and provide examples. 1) Supplies 2) Raw materials 3) Goods in process 4) Ready made product
Answers
1. Supplies: Supplies refer to the materials or items that are consumed in the day-to-day operations of a business but are not directly used in the production of goods or services. Examples of supplies include office stationery, cleaning supplies, and maintenance tools.
2. Raw materials: Raw materials are the basic materials that are used in the production process to create finished goods. These materials are transformed into the final product through manufacturing or assembly. Examples of raw materials include wood for furniture manufacturing, steel for construction, or fabric for clothing production.
3. Goods in process: Goods in process, also known as work-in-progress (WIP), are partially completed products that are in the manufacturing or assembly process but are not yet ready for sale. These products have undergone some transformation but still require further processing or assembly. Examples include partially assembled electronic devices or half-finished automobiles on a production line.
4. Ready-made product: Ready-made products are finished goods that have completed the manufacturing or assembly process and are ready for sale to customers. These products have gone through all the necessary production stages and are in a form that can be sold directly to consumers or businesses. Examples of ready-made products include smartphones, clothing items, or packaged food products.
In summary, supplies are consumed in day-to-day operations, raw materials are used in production, goods in process are partially completed products, and ready-made products are finished goods ready for sale.
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Related Questions
An active primary market for the creation of new securities and the presence of plenty of buyers and sellers are all most indicative of _____.
an efficient monetary policy
a national economy
a competitive marketplace
sound financial management
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An active primary market for the creation of new securities and the presence of plenty of buyers and sellers are all most indicative of a competitive marketplace. Thus, option C is correct.
What is the market?Markets are places where individuals, businesses, and industries transact, whether it be for the purpose of purchasing, producing, or providing services. they use it n order earning profits.
As there are various suppliers in the market, there is a face lot of people have various options from which the person could buy.
Customer competition is fueled by a competitive market. This implies that consumers struggle among others to purchase a commodity, particularly when inventory is low. Therefore, option C is the correct option.
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What is viability factors researches the demand for products or services?
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Answer:
Viability is a mass noun that refers to something's capacity or potential for success. It may be a demand, an idea, a project, or even a plan to change how a business runs. Establishing viability is the goal of a viability evaluation. Product viability is the capacity of a software product to maintain itself or reach its potential.
Explanation:
The term "market viability" describes the commercial potential of a certain market. You may decide whether starting a business in a specific market makes financial sense with the use of a market viability analysis.
Industry size: Is there adequate room on the market for new vendors? Exists room for improvement?
Target market: Do potential customers have more money to spend? Can they afford to purchase your offering?
Competition: Who are the major retailers in this industry, in terms of competition? What are their advantages and disadvantages? How are you going to rival them?
Your objective is to eliminate any markets that are too small, too competitive, or comprised of clients who are unable or unable to pay your prices.
if accounts payable increase during an accounting period, then the cash paid for merchandise purchased is less than the merchandise purchases for the period. select one: true false
Answers
if accounts payable increase during an accounting period, then the cash paid for merchandise purchased is less than the merchandise purchases for the period. This is statement.
If accounts payable increase during an accounting period, it means that the company has purchased more goods and services on credit than it has paid for in cash. As a result, the cash paid for merchandise purchased is less than the total merchandise purchased for the period.
This is because some of the purchases are recorded as accounts payable and will be paid in a future accounting period, which means they are not included in the cash paid amount for the current period.
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why having business is important?
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suppose real gdp was $196 billion in 2016,$200 billion in 2017 and $206 billion in2018. if the year 2016 is the base year, the gdp deflator increased by 5% between 2016 and 2017, and the growth of nominal gdp between 2017 and 2018 was 2%, from this information,the nominal gdp in 2018 was
Answers
The nominal GDP in 2018 is would be equal to 206.98 billion with 2016 as base year .
The nominal GDP in 2018 can be calculated by using the following formula:Nominal GDP in 2018 = (Real GDP in 2016 x (1 + GDP Deflator)) x (1 + Growth of Nominal GDP)Therefore, the nominal GDP in 2018 is equal to (196 billion x (1 + 0.05)) x (1 + 0.02) = 206.98 billion.The GDP deflator measures the change in price level between two periods and is calculated by dividing the current year's nominal GDP by the base year's real GDP.In this case, the GDP deflator between 2016 and 2017 is 5%, which means that the price level in 2017 is 5% higher than that in 2016. The growth of nominal GDP between 2017 and 2018 is 2%, indicating that the nominal GDP in 2018 is 2% higher than that in 2017.The nominal GDP in 2018 can also be calculated without using the formula. Since the real GDP in 2016 is the base year, the nominal GDP in 2016 is equal to the real GDP in 2016, which is 196 billion.Then, since the GDP deflator increased by 5% between 2016 and 2017, the nominal GDP in 2017 is equal to 196 billion x (1 + 0.05) = 206 billion. Finally, since the growth of nominal GDP between 2017 and 2018 is 2%, the nominal GDP in 2018 is equal to 206 billion x (1 + 0.02) = 206.98 billion.In conclusion, the nominal GDP in 2018 is equal to 206.98 billion.To learn more about the GDP Deflator refer to:
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ways in which wealth can be increased
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Answer: 6 Simple Ways to Increase Your Net Worth
Net worth" is the simplest indicator of your overall financial well-being. Simply defined, it's the difference between your assets (such as investment accounts, retirement funds and properties) minus all liabilities (including mortgages, credit card debt and other loans).
Your net worth is very important in helping you determine how much debt you have and how it can affect your future wealth. It also helps you to highlight critical areas in your financial life that you should focus on early enough.
If you have already calculated your net worth and found that it’s lower than you expected, or that you need to increase it starting now; here are a few simple ways to help.
1. Review Your Liabilities and Pay off Debt
This is one of the simplest ways to raise your net worth. Review all your liabilities keenly and try to reduce or eliminate them all-together. Your liabilities may include student loans, credit card debt, car loans, and mortgages, among many other types of loans that you may be owing friends and colleagues.
Focus on paying off the debts with the highest interest rates first, and pay off the other low-rate debts along the way. A lower debt burden means a higher net worth and vice versa is true.
2. Review and Increase Your Assets
Determine the total worth of your assets and how it's likely to change over time. Are your assets appreciating or depreciating? How much equity do you have in your home? How are your rental properties performing or likely to perform in the future? What is the state of your stock investments, bonds, mutual funds, retirement funds?
Ask yourself as many questions as possible about your assets and review them thoroughly. This can be overwhelming to go at alone. Consider going through our Financial Life Plan™ process with a Certified Financial Planner™ on our team and get the clarity you are looking for. Increase the assets while simultaneously lowering your debt and your net worth will automatically shoot up.
3. Reduce Expenses
Reducing your expenses is easier said than done, but it’s a great way to help boost your net worth. Work out your current expenses and see if there are expenditures that you can afford to cut back. Remember, the less money you spend, the more you are accumulating in net worth. A great tip on how to start spending less is to avoid the use of credit cards in favor of cash. A large bulk of uncontrolled debt comes from the use of credit cards.
4. Find New Sources of Income
Getting additional income from several sources can go a long way in helping you increase your net worth. It will not only help you pay off your debts sooner, but also take way your need to borrow often. You can get additional income from a second job, doing some freelance work, selling items online, or starting a part-time business. There are many endless opportunities out there; all you need to do is find the one that works for you.
5. Maximize Retirement Contributions
Retirement contributions benefit you in two ways. One, they defer your taxable income because they are deducted before taxes. Second, they boost your available generative assets. Check if your employer offers a retirement plan and start contributing towards it. If you already have a 401(k) plan through your employer but aren’t contributing to the maximum, consider doing it if you want to boost your net worth by a big margin. You can also open an IRA (Individual Retirement Account) and start investing there.
6. Store Your Money Where It Can Grow
Avoid storing your money in savings accounts where it can’t grow or earn interest. Keep the money in interest-bearing accounts or invest it in stocks where it can work for you. On average, you can get a 7% annual growth from the S&P 500 index. This is one of the simplest ways to increase your net worth through long-term investing.
Calculate your net worth today and see where you stand financially. If it needs a boost, use the above tips to increase that number!
Answer:
Here are some of the ways you can increase your income and build wealth fast.
Venture into Business. The wealthiest people in the world are not employees but business founders. ...
Take Up High-Paying Jobs. ...
Run Side Hustles. ...
Improve Your Skill Set. ...
Create a Budget. ...
Build an Emergency Fund. ...
Live Below Your Means. ...
Stock Market.
Explanation:
who will win the fight tomorrow jake paul or ben askren
winner gets brainlest
Answers
Answer:
prolly ben askren
Explanation:
cause he was an ameture wrestler before
Answer: Ben askren bro
Explanation:
T/F The main reason that U.S. firms establish manufacturing plants abroad is that: they can reduce costs
Answers
The statement the main reason that U.S. firms establish manufacturing plants abroad is that they can reduce costs is true because it allows companies to take advantage of lower labor costs, access cheaper raw materials, and benefit from favorable tax and regulatory environments in other countries.
Establishing manufacturing plants abroad enables U.S. firms to tap into a global labor market where wages may be lower compared to domestic labor costs. This cost advantage can significantly reduce production expenses.
Additionally, certain countries may offer access to cheaper raw materials, enabling companies to source inputs at lower prices. Moreover, some countries provide tax incentives and regulatory frameworks that are more favorable for businesses, leading to cost savings.
However, it's important to note that while cost reduction is a significant factor, it's not the only reason for establishing manufacturing plants abroad. Other reasons may include accessing new markets, expanding customer reach, reducing transportation costs, and mitigating risks associated with currency fluctuations or political instability.
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You invest $X into a fund that promises a return of 9% per year. How many years will it take for
your investment to increase to a value of at least $8X? Provide your answer as an integer.
Answers
Future Value is the desired value ($8X in this case)
Present Value is the initial investment amount ($X in this case)
Interest rate is the annual rate of return (9% or 0.09 in decimal form)
n is the number of years we want to find.
To determine the number of years it will take for an investment to increase to a value of at least $8X with a 9% annual return, we can use the concept of compound interest.
The formula to calculate the future value of an investment with compound interest is:
Future Value = Present Value * (1 + interest rate)^n
Where:
Future Value is the desired value ($8X in this case)
Present Value is the initial investment amount ($X in this case)
Interest rate is the annual rate of return (9% or 0.09 in decimal form)
n is the number of years we want to find.
Substituting the given values into the formula:
$8X = $X * (1 + 0.09)^n
To simplify the equation, we can divide both sides by $X:
8 = (1.09)^n
Taking the logarithm of both sides (base 10 or natural logarithm, it doesn't matter), we can solve for n:
log(8) = log((1.09)^n)
n * log(1.09) = log(8)
n = log(8) / log(1.09)
Using a calculator, we can find that:
n ≈ 11.84
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Which of the following is a difference between Fiedler’s contingency theory of leadership and the path-goal theory of leadership? Select one: a. The Fiedler theory states that a leader can adopt the four leader styles of directing, coaching, supporting, and entrusting, whereas the path-goal theory measures leadership style with the least preferred coworker scale. b. The Fiedler theory discusses leader style, followers and situation, and the rewards to meet followers' needs, whereas the path-goal theory discusses leadership style and group task performance. c. The Fiedler theory enables leaders to diagnose both leadership style and organizational situation, whereas the path-goal theory focuses on the characteristics of followers as the most important element of the situation. d. The Fiedler theory made the assumption that new leaders could take over as situations change, whereas in the path-goal theory, leaders change their behaviors to match the situation.
Answers
Answer:
d. The Fiedler theory made the assumption that new leaders could take over as situations change, whereas in the path-goal theory, leaders change their behaviours to match the situation.
Explanation:
Fiedler's theory of leadership is based on the assumption that the leaders can be different and their effectiveness can be measured as when the the situation changes. Accordingly he prefers new management to a new situation, rather than the old one.
Whereas the path goal theory of leadership is based on the assumption and study that allows the managers to change in their behaviours as and when their situation demands. This provides for better working environment and encouragement for employees.
The last step in project risk management is deciding how to address the knowledge area for a particular project by performing risk management planning.
a. True
b. False
Answers
Explanation: The first step in project risk management is deciding how to address this knowledge area for a particular project by performing risk management planning.
A certain element decays using the function f (x) = 570 (0.82)^x
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The decay function of a certain element given by f(x) = 570(0.82)^x. I'll provide a brief explanation using the given terms:
The function f(x) = 570(0.82)^x represents the decay of an element over time, where:
- x represents the time (usually measured in years, days, or any other appropriate unit)
- f(x) represents the amount of the element remaining at time x
- 570 is the initial amount of the element
- 0.82 is the decay factor
This function is an example of an exponential decay function. To find the amount of the element remaining after a certain period of time, you simply plug in the value of x (time) into the function and solve for f(x).
For example, if you want to find the amount remaining after 5 years, you would plug x = 5 into the function:
f(5) = 570(0.82)^5
Solve for f(5), and you'll get the amount of the element remaining after 5 years.
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Adrienne is part of the senior management team at a company in which ____________ since her appointment __________ both morale and client-satisfaction have dramatically improved. Among her driving principles are the idea that people work better when they are both motivated and empowered to reach their goals, that each team member must contribute fully, and that when she has to make a key decision, everyone knows why she is making it. She is a useful example of how __________ works.
Answers
Answer:
improvements were clearly evident; as; democratic leadership style
Explanation:
What this means is that;
"Adrienne is part of the senior management team at a company in which improvements were clearly evident since her appointment, as both morale and client-satisfaction have dramatically improved. Among her driving principles is the idea that people work better when they are both motivated and empowered to reach their goals, that each team member must contribute fully, and that when she has to make a key decision, everyone knows why she is making it. She is a useful example of how democratic leadership style works."
Note, a democratic leadership style is one in which the manager or leader allows participation from his subordinates; in other words, it is a participative form of leadership.
a tariff placed on a foreign good will group of answer choices increase the price of a competing domestic good. reduce the quantity sold of both the foreign and competing domestic good. increase the quantity sold of both the foreign and competing domestic good. reduce the price of a competing domestic good.
Answers
The answer is reduce the quantity sold of both the foreign and competing domestic good. When a foreign good is subject to a tariff, less of both the foreign and domestic goods that compete with it are sold.
Imports are constrained by tariffs. Simply expressed, they raise the cost of products and services bought from another nation, making them less alluring to domestic customers.
Governments impose taxes, known as tariffs or duties, on the value of imported goods, including their goods and insurance. Various countries impose varying tariffs on certain products. A tariff raises the cost of imports and serves as a protectionist measure.
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Which of the following is a characteristic of a competitive market?
A) Standardized product
B) All of these
C) Few buyers
D) Barriers to entry
E) Few sellers
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Which of the following is not an example of professional behavior
?
Answers
Which of the following costs should be excluded from research and development expense?
a. Acquisition of R&D equipment for use on a current project only
b. Cost of marketing research for a new product
c. Modification of the design of a product
d. Engineering activity required to advance the design of a product to the manufacturing stage
Answers
Answer:
can you help me with my problem
Why do you think brand advocates willingly promote companies via social media? Explain.
Answers
Answer:
As a form of celebrity and endorsement. The company will be viewed by the potential millions of people that follow those brand advocates. This allows the brand to reach a wider audience and raise profits. that is why brand advocates willingly promote companies via social media?
Explanation:
hope this helps. ; )
What is NOT a reason a new product might fail?
O Too little marketing support
O Unexpected consumer reaction
O Poor positioning
O Appropriate channels selected
Answers
What are the benefits of doing a pilot program before a full scale rollout of a new analytical methodology. Discuss this in the context of the mini case study
Answers
The benefits of doing a pilot program before a full scale rollout of a new analytical methodology can be seen in the context of the mini case study.
What is analytical methodology?Analytical methodology is an approach used for solving complex problems that involves breaking down the problem into smaller parts and analyzing each component separately.
By launching a pilot program, the company can test the efficacy and accuracy of the new methodology and assess any potential risks associated with the new methodology. This allows the company to identify any potential problems and make necessary adjustments before a full scale rollout.
Additionally, by conducting a pilot program, the company can gauge the level of acceptance that the new methodology will receive from stakeholders. This will allow the company to determine how well the new methodology is received and how employees and customers will respond to it.
Finally, doing a pilot program before a full scale rollout can also help the company to develop a better understanding of the costs associated with the new methodology. This will allow the company to better plan for the financial implications of the new methodology, giving them the opportunity to identify any potential cost savings and create a more accurate budget.
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A food worker suspects there are mice in the food establishment.
w
What evidence should she report to her manager?
O a. Faulty equipment
O b. Sick food workers
O c. Broken floor tiles
O d. Gnaw marks on a box
Answers
Waker Accounting Software is marketed to small accounting firms throughout the US and Canada. Owner George Wasker has decided to outsource the company's help desk and is considering three providers Manila Call Center (Philippines), Delhi Services (India), and Moscoe Bell (Russia). The following table summatzes the data Waker has assembled. Which ounsourcing firm has the best rating? (Higher weights imply higher importance and higher ratings imply more desirable providers) in the following table, compute the weighted average score for each of the three providers (enter your responses rounded to one decual place) Delti Weight Manila (W) Moscow (C) (A) (B) Criterio.. Flexibility Trustworthiness Price 0.50 8 5 0 0.10 4 4 6 0.20 5 5 0 Delivery 020 7 8 0 12 5.5 Total weighted score!
Answers
In this question, we have to compute the weighted average score for each of the three providers and find out which outsourcing firm has the best rating. The table summarizes the data that George has assembled.
Delta Weight Manila (W) Moscow (C) (A) (B) Criteria Flexibility Trustworthiness Price 0.50 8 5 0 0.10 4 4 6 0.20 5 5 0 Delivery 020 7 8 0 1 2 5 5.5 Total weighted score 7.6 6.4 3.2. To find out the weighted average score for each of the three providers, we can use the following formula:Weighted Average Score (WAS) = Weighted Score / Total Weight.
Delta Weight Manila (W) Moscow (C) Criteria Flexibility 4 2.5 Trustworthiness 0.4 0.4 Price 1 1.2 Delivery 1.4 1.6 Total Weight 3.8 5.7. We have calculated the weighted average score (WAS) of all providers. Now we have to find out which outsourcing firm has the best rating. To find out which provider has the best rating, we can compare the weighted average scores of each provider. Provider Manila has the highest weighted average score of 7.6.
Therefore, the answer is Manila Call Center (Philippines) has the best rating among the three providers.
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Jewel Corporation uses the perpetual inventory system. Please make journal entries for the following inventory transactions. Show any necessary work/calculations. - October 2 - Purchased on account $6,400 of inventory for resale. Credit terms 2/10,n/30. FOB shipping point. - October 3 - Paid $200 for shipping costs related to the October 2 inventory purchase. - October 5 - Sold inventory, costing $10,000, to a customer for $14,000 retail price. Credit terms 1/15,n/40. FOB shipping point. - October 7 - Returned $400 of defective inventory related to the October 2 purchase for an account credit. - October 10 - Paid the balance of the account owed from the October 2 purchase. - October 15 - Granted a $2,000 allowance against a customer's account relating to the October 5 sale of inventory. - October 20 - Received payment of the net balance from the October 5 sale of inventory.
Answers
The inventory transactions for Jewel Corporation as outlined in the scenario are reflected in journal entries. To record the inventory transactions for Jewel Corporation using the perpetual inventory system, here are the journal entries:
October 2:
Inventory (debit) $6,400
Accounts Payable (credit) $6,400
(To record the purchase of inventory on account)
October 3:
Inventory (debit) $200
Cash (credit) $200
(To record payment for shipping costs)
October 5:
Accounts Receivable (debit) $14,000
Sales Revenue (credit) $14,000
Cost of Goods Sold (debit) $10,000
Inventory (credit) $10,000
(To record the sale of inventory on account)
October 7:
Accounts Payable (debit) $400
Inventory (credit) $400
(To record the return of defective inventory)
October 10:
Accounts Payable (debit) $6,000
Cash (credit) $6,000
(To record payment for the balance owed on the purchase)
October 15:
Sales Allowances (debit) $2,000
Accounts Receivable (credit) $2,000
(To record the allowance granted to the customer)
October 20:
Cash (debit) $13,720
Sales Discounts (debit) $280
Accounts Receivable (credit) $14,000
(To record the payment received from the customer, net of discount)
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Stevie earned $600 this week. she used $100 toward paying off her credit card and $20 went into savings, for a total of $120, which is 20% of her income. what money managing system is she likely using?
Answers
Answer:
600-100-20=480
Explanation:
50 30 20 rule
The money managing system is she likely using 50 30 20 rule.
What is the 50 30 20 rule?The 50/30/20 rule is a simple budgeting technique that can assist you in managing your money in an efficient, straightforward, and sustainable manner. The general rule of thumb is to allocate 50% of your monthly after-tax income for needs, 30% for wants, and 20% for savings or debt repayment.
That age-old conundrum can be resolved and your spending habits can be made more structured by using the 50/30/20 guideline. Whether you're trying to pay off debt or save money. It might make it simpler for you to achieve your financial objectives.
According to the norm, you should devote up to 50% of your after-tax income to necessities and commitments that are essential to you. The remainder should be divided into 30% for anything else you might want, 20% for savings, and 10% each for debt reduction and saves.
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whats a service and then what's the difference between a product a service
Answers
Answer:A product is a tangible item that is put on the market for acquisition, attention, or consumption, while a service is an intangible item, which arises from the output of one or more individuals. ... In most cases services are intangible, but products are not always tangible. difference between them is products are tangible objects that can be seen, felt and can be moved, whereas, services are intangible and cannot be moved. ... Key Features of a Product. The main character of a product is that it is a physical item that is tangible.
hope this helps have a nice day❤️
Explanation:
WILL GIVE BRAINLIEST!!! Jake has been distribution manager at his company for over ten years. Unfortunately, the company has experienced a decline in profit and they are fighting to stay in business. Jake has to schedule a shipment very quickly over the next couple of weeks. Would an aircraft be a good choice for jake? why or why not? if not, provide a better alternative.
Answers
Answer:
I say yes because the shipment will get their faster, and the faster the shipment gets there the faster he gets the money to save the business.
explain the method of bookkeeping ?
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Attitude is your belief in your own effectiveness.
Т
F
Answers
Answer:
f
Explanation:
this mf emmanuel made me get it wrong. its false bro trust
In testing inventory at an audit client in the retail industry, you note that some of the inventory is contracted to be held on consignment. As a result, which financial statement assertion is now relevant ?
a. Rights and obligations.
b. Completeness.
c. Existence or occurrence.
d. Valuation or allocation.
Answers
When inventory is tested with audit customers in the retail industry, we find that some of the inventory is contractually consigned. This means that a) rights and obligations settlement enforcement is now relevant as well.
Rights and obligations are the basic statements used in the preparation of financial statements to show that an organization has ownership over its stated assets and is obligated to pay its stated liabilities. For example, you can demand the right to have children or the right to make decisions about your children's education. An attendant duty is to properly educate them as good citizens, introduce them to the culture of their society, and teach them right and wrong. A right is what you want others to do to you, and a duty is what you ought to do for others.
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Which of the following statements about plasmids is false? A. Circular and supercoiled. B. Self-replicating vectors. C. Double stranded and mobile. D. Part of the genomic DNA of the bacterium. E. Cont
Answers
The false statement about plasmids is d) Part of the genomic DNA of the bacterium.
What are Plasmids?Plasmids are DNA molecules that can replicate themselves outside of the host cell’s genome. They are normally circular, double-stranded DNA and may be found in both eukaryotes and prokaryotes. In bacteria, plasmids usually replicate independently of the chromosome and have no effect on the cell's normal growth and metabolism. They are also frequently utilized in molecular biology as vectors or cloning carriers for genetic engineering purposes, like the production of therapeutic proteins and the creation of genetically modified organisms (GMOs).
Plasmids are not a part of the genomic DNA of the bacterium, which is a false statement. Instead, they are extrachromosomal elements that can be found in various types of bacteria. They are self-replicating vectors that can carry genetic material such as antibiotic resistance genes, virulence genes, and other beneficial traits that are passed on from one bacterium to another via horizontal gene transfer.
Therefore, the correct answer is d) Part of the genomic DNA of the bacterium.
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