january 41,000 february 38,000 march 50,000 april 51,000 patrick's policy is to have 25% of next month's sales in ending inventory. on january 1, it is expected that there will be 6,700 drums of solvent on hand. required: prepare a production budget for the first quarter of the year. show the number of drums that should be produced each month as well as for the quarter in total. patrick inc. production budget for the coming quarter january february march 1st
Answers
The number of drums that should be produced each month would be January: 40,380, February - 39,920, march - 50,160, and the total drums for the quarter 135,050.
A production Budget is a financial plan that summarizes a company's goals for the production of goods or services. The production budget is intended to assist businesses in determining the number of goods to be produced to fulfill consumer demand.
In this problem, the Production Budget for the first quarter of the year is required. January sales are 41,000 units, February sales are 38,000 units, and March sales are 50,000 units, totaling 129,000 units.
According to Patrick's policy, 25% of next month's sales will be held in inventory. So, the ending inventory for January is expected to be 10,250 units (25% of February's sales of 38,000), for February it will be 9,500 units (25% of March's sales of 50,000), and for March it will be 12,500 units (25% of April's sales of 51,000).
Thus, the total units needed to satisfy consumer demand and maintain the expected ending inventory level are 43,800 units for January, 41,000 units for February, 50,250 units for March, and 135,050 units for the quarter as a whole.
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Related Questions
Under the LIFO retail method, we determine that:__________.
a) a new layer of inventory has been added during the period if the ending inventory at retail is greater than the beginning inventory at cost.
b) the ending inventory at retail is greater than the beginning inventory at retail.
c) the ending inventory at retail is less than the beginning inventory at retail.
Answers
Answer: the ending inventory at retail is greater than the beginning inventory at retail
Explanation:
In the Last-In-First-Out(LIFO) method, it is assumed that the units that are sold are the ones that were recently bought.
Under the LIFO retail method, to determine a new layer at retail, the beginning inventory at the retail will have to be deducted from the ending inventory at retail.
This means that a new layer of inventory will be added when the ending inventory at retail is greater than the beginning inventory at retail.
A study of the potential demand for a new hospitality and travel business is called______
Answers
Answer:
market analysis
Explanation:
A market analysis is the studies the dynamics of the study market such that of a potential rise in demands for a new hospitality and travel business. The market analysis is also a part of the global environmental analysis. It identifies the possible strengths and weaknesses along with the opportunities and threats. It areas include market trends, growth probability, and key success factors.I want to become doctor and I'm from nepal..which may be the best country for me to study
Answers
Answer:
the best would always be the USA in doctoring.
it has the best colleges etc.
Explanation:
Animaso Close Poll Detail Insert Design transitions Layout Reset Now Slide 'Section - BUS 2 End Hypotheses a Select Inside information 1. that advises corporate firms planning to sue other corporations for antitrust damages. He ciency finds that he can "beat the market" by short selling the stock of firms that will be sued. This would violate (Single Choice) O Choice 1 weak-form hypothesis of market efficiency. tony Choice 2 semistrong form hypothesis of market efficiency, t advises prations "beat the that will be te the Choice 3 strong-form hypothesis of market efficiency. Choice 4 none of the hypotheses of market efficiency. bency ncy efficiency. ency. ency. 0 of 1 answered Submit 2 Who can see your responses?
Previous question
Answers
This would violate the strong-form hypothesis of market efficiency because the individual is using non-public information to gain an advantage in the market, which should not be possible according to the strong-form hypothesis.
Weak-form market efficiency hypothesis suggests that all past trading information, including stock prices and volume, is fully reflected in current stock prices. Technical analysis cannot be used to gain an advantage in predicting future price movements in this case.
Semi-strong form market efficiency hypothesis posits that all publicly available information, such as financial statements and news releases, is also reflected in current stock prices. In this case, neither technical nor fundamental analysis can give an investor an advantage.
Strong-form market efficiency hypothesis states that all information, including private or "inside" information, is fully reflected in current stock prices. No investor can gain an advantage, even with access to non-public information.
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Do you think you would feel guilty if you attempted to become “personal friends” with a client and/or potential client as a way to “sway” them to become your client? Explain.
Answers
Answer:
no, no I wouldn't
Explanation:
hell I wouldn't be guilty even if I robbed a bank
Norcraft, inc. Usually moves new employees to a higher position within a year and fills most of its higher-level positions internally, resulting in a satisfied workforce as well as cost saving through lower turnover of employees. Which facet of job satisfaction has norcraft fostered?.
Answers
Norcraft has fostered the promotion satisfaction facet of job satisfaction.
What is promotional satisfaction?Promotional satisfaction is a measure taken by organizations to boost employee(s) morale, reduce absenteeism, and make the employee workplace a pleasant place to work.
The approach incorporated by Norcraft to move employees to a higher position within a year to fill higher-level positions internally has offered the employee promotional satisfaction in their job role.
The purpose of promotional satisfaction is to:
Increase employee engagement in their job roles.Improve your workforce's skills and potential.Job satisfaction as well as cost-saving through lower turnover of employees.Learn more about promotional satisfaction here:
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PLZ HELP this is Econ btw !!! How can technology as a determinant decrease supply? Explain or give
an example.
Answers
Answer:
as we simply know the technology degradation will increase the cost of production and decrease the profit and when there will be less profit the supplier supplies less goods in the market
hence the supply will decrease.
vice versa in the case of technology improvement.
is it fine?
Wichita Industries' sales are 10% cash and 90% on credit. Credit sales are collected as follows: 40% in the month of sale, 50% in the next month, and 10% in the second following month. On December 31, the accounts receivable balance includes $27,000 from November sales and $51,000 from December sales. Assume that total sales for January are budgeted to be $65,000. What are the expected cash receipts for January from the current and past sales
Answers
The expected cash receipts for January from the current and past sales are $58,100.
To calculate the expected cash receipts for January from the current and past sales, we will use the given information about Wichita Industries' credit sales collection and accounts receivable balance.
First, let's determine the cash receipts from January sales:
- Cash sales: 10% of $65,000 = $6,500
- Credit sales (40% collected in the month of sale): 0.9 * $65,000 * 40% = $23,400
Next, let's calculate cash receipts from past sales:
- December credit sales (50% collected in the following month): $51,000 * 50% = $25,500
- November credit sales (10% collected in the second following month): $27,000 * 10% = $2,700
Now, let's sum up the cash receipts:
$6,500 (cash sales) + $23,400 (January credit sales) + $25,500 (December credit sales) + $2,700 (November credit sales) = $58,100
So, the expected cash receipts for January from the current and past sales are $58,100.
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How does the interconnectedness of the sales and marketing departments impact the measurement of tbl?
Answers
The interconnectedness of the sales and marketing departments impact the measurement of TBL because companies that prioritize social and environmental responsibility improves the conventional metric
According to the Triple Bottom Line philosophy, businesses should make a commitment to giving social and environmental concerns the same amount of attention as they give to profitability.
The way the business organizes its operations around customer needs illustrates the connection between marketing principles and the triple bottom line. The business will continue to put its emphasis on its procedures, services, and goods while expanding on the triple bottom line approach.
There are several opportunities to raise revenues, cut costs, and foster loyalty when using the TBL framework.
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Calcion Industries produces two joint products, Y and Z. Prior to the split-off point, the company incurred costs of $27,000. Product Y weighs 35 pounds and product Z weighs 65 pounds. Product Y sells for $150 per pound and product Z sells for $125 per pound. Based on a physical measure of output, allocate joint costs to products Y and Z.
PLEASE SHOW WORK IF POSSIBLE
Answers
The joint cost allocated to product Y is $94.50 per pound and to product Z is $175.50 per pound.
How to find?To allocate joint costs to products Y and Z based on physical measure of output, we can use the weight method. The total weight of both products is 100 pounds (35 + 65). The joint cost per pound is $27,000 / 100 pounds = $270 per pound.
To allocate joint costs to product Y:
Weight of product Y / Total weight of both products x Joint cost per pound = 35/100 x $270 = $94.50 per pound
To allocate joint costs to product Z:
Weight of product Z / Total weight of both products x Joint cost per pound = 65/100 x $270 = $175.50 per pound
Therefore, the joint cost allocated to product Y is $94.50 per pound and to product Z is $175.50 per pound.
This method assumes that both products are of equal quality and that weight is an appropriate measure of the relative value of each product.
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Which type of business organisation is the most suitable for a large electronics
manufacturer?
A. partnership
B. private limited company
C. public limited company
D. sole trader
Answers
Answer:
C. public limited company
Explanation:
A public limited company is a business ownership structure that provides a legal distinction between the business and its owners. The company is a legal person with the right to do business, acquire assets or incur liabilities. Unlike a private limited company, public limited company shares trade with ease at the stock exchange.
Due to their listing in the stock exchange, public limited companies can raise capital with much ease. The corporation only needs to comply with the regulation of the stock market to raise more finances. Public limited compies are suited for large organizations that require huge capital to finance their operations and expansions.
What type of advertising aims to spread a particular social message or to promote public welfare?
A.
corporate advertising
B.
retail advertising
C.
product advertising
D.
public service advertising
Answers
Answer:
D, Public service advertisements
What is labeled and unlabeled data? Is unlabeled data the same thing as validation data?
Answers
Labeled data refers to data that has already been categorized or classified with tags or labels that indicate the meaning or significance of the data.
In contrast, unlabeled data refers to data that has not been classified or categorized in any way. Unlabeled data is typically used for tasks such as clustering or unsupervised learning, where the goal is to discover patterns or relationships within the data.
Validation data, on the other hand, is a subset of labeled data that is used to test the accuracy of a machine learning model. It is different from unlabeled data because it has already been classified, but it is not the same thing as all labeled data. The purpose of validation data is to evaluate the performance of a model on data that it has not seen before and to ensure that the model is generalizing well to new data.
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identify three of the many shared ethical standards among businesses that are incorporated in codes of ethics
Answers
what are 5 steps that a salesperson should follow when using a suggestion selling technique?
Answers
1)no the goods
2)good reputation
3)understand the business
4)cooperate with buyers
5)involve sales girl or boy if needed
If a customer trips and falls over a rip in the carpet in a retail store, who is liable under common law rules?
Answers
If a customer trips and falls over a rip in the carpet in a retail store, the people who are liable under common law rules are the landlord and the tenant.
When you trips and fall in a store, the business owner is the one who is liable for all the financial help you would need for your injuries and all the other losses you have incurred because of the fall.
To get the claim for the fall and slip against a store or business requires to show that someone was ignorant about something and that caused the fall which made you hurt yourself.
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What information does a lead contain in a news story?
Answers
Answer:
1st one
Explanation:
what is stock exchange
Answers
2 A fall in the price of crude oil from $90 per barrel to $80 per barrel leads to an infinite fall in
quantity supplied
Answers
The price elasticity of demand with an infinite decrease in quantity supplied would be infinite.
Infinite elasticity, also known as perfect elasticity, is a scenario in which either the quantity demanded (Qd) or the quantity supplied (Qs) shifts by an infinite amount in response to any price change at all. This is an extreme example of the concept. The supply curve and the demand curve both have a line in both of these scenarios.
An extreme case would be a demand that is perfectly elastic. When we talk about perfect elastic demand, we imply that the quantity required will go all the way to infinity when the price goes down, but it will go all the way down to zero when the price goes up. You can think of perfectly elastic demand as "all or nothing" when consumers are particularly sensitive to changes in price. This is because consumers in this situation will either buy everything or nothing at all.
Your question is incomplete, but most probably your full question was:
A fall in the price of crude oil from $90 per barrel to $80 per barrel leads to an infinite fall in quantity demanded. Calculate the price elasticity of demand?
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How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter
Answers
The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as
$4.3055
This is further explained below.
What is the APR interest rate?Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.
The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.
Interest rate APR = 12%
Average balance = ((200*5)+(350*15)+(150*10))/30
Average balance = $258.33
Average balance*APR/12
Finance charge =\(\frac{258.33*20 \%}{12 }\)
Finance charge = $4.3055
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Which of the following accounts would normally have a credit balance and appear in the balance sheet?
A. Dividends.
B. Salary expense.
C. Revenue.
D. Uneamed revenue.
E. Accounts receivable.
Answers
The account that contains a normal credit balance & the same appears in the balance sheet is unearned revenue.
The following information is relevant:
The dividend contains the normal debit balance and the same is to be shown under the stockholder equity statement.The salary expense is to be shown under the income statement and contains a normal debit balance.The revenue is to be shown under the income statement & contains a normal credit balance.Unearned revenue is a liability account and contains a normal credit balance. Also, it is to be shown under the balance sheet.The account receivable is an asset account & it contains a normal debit balance. Also, it is to be shown under the balance sheet.Therefore we can conclude that the account that contains a normal credit balance & the same appears in the balance sheet is unearned revenue.
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Discuss the effects of the hard lockdown on Eskom's operations?
Answers
The effect of the hard lockdown on Eskom's operations was that the parliamentary committees had to leave officials in Pretoria.
What were Eskom's operations?Eskom's operations refer to the operation of the Electricity Supply Commission in South Africa.
When the hard lockdown was placed during the pandemic on Eskom's operations in South Africa, this led to parliamentary committees leaving the officials in Pretoria because they believed that having digital meetings will be better than face-to-face.
hence, The effect of the hard lockdown on Eskom's operations was that the parliamentary committees had to leave officials in Pretoria.
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true or false? 1.) when the quality of a product in the market basket falls, the cpi will understate the cost of living. 2.) the gdp deflator is based on gdp statistics rather than a survey
Answers
I believe that is the answer
capital budgeting has the same focus as accrual accounting. do you agree? explain.
Answers
Capital budgeting and accrual accounting are two related but distinct concepts in finance and accounting.
Capital budgeting and accrual accounting are two related but distinct concepts in finance and accounting. While they share some similarities, they have different focuses and objectives.
Capital budgeting is the process of evaluating and selecting long-term investment projects that will generate future cash flows and increase the value of the firm. The primary focus of capital budgeting is on making decisions about the allocation of financial resources, such as which investment projects to undertake and how much to invest in each project.
On the other hand, accrual accounting is a method of accounting that recognizes revenues and expenses when they are earned or incurred, regardless of when cash is received or paid. The primary focus of accrual accounting is on accurately measuring and reporting the financial performance of the firm over a given period, and providing information to stakeholders about the firm's financial health and prospects.
While there may be some overlap between capital budgeting and accrual accounting, they have different objectives and focus on different aspects of financial management. Capital budgeting is concerned with making investment decisions that will generate future cash flows and increase the overall value of the firm, whereas accrual accounting is concerned with accurately measuring and reporting the financial performance of the firm over a given period.
Therefore, I do not agree that capital budgeting has the same focus as accrual accounting. While they are both important concepts in financial management and are closely related, they have distinct objectives and focus on different aspects of financial management.
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Suppose you are shopping online at Zappos.com. While on the website you receive a pop-up message to take part in a customer satisfaction survey about your current shopping experience. The type of online sampling method Zappos employed here is Random online intercept sampling O Invitation online sampling O Online panel sampling O All of the above 4 1.5 pts Question 53 Which of the following are NOT a probabilistic sampling methods? (select all that apply) O Simple random sampling Quota sampling Cluster sampling Stratified sampling W Question 54 The rating scale below is an example of a(n)? Q: A: Indicate your impression of Abercrombie & Fitch by checking the line corresponding to your opinion, for each pair of descriptors. High prices Low prices Low quality High quality Great service Poor service Wide variety Limited variety O Likert scale O Stapel scale ON-point scale O Semantic-Differential scale
Answers
The type of online sampling method Zappos employed here is "Random online intercept sampling".This is the method of sampling in which respondents are selected from a website and intercepted while they are in the process of navigating to different areas.
What is this method?This sampling method is used to sample from the target population as the individuals who are engaged with the content have a higher likelihood of being interested in the topic of the website. Among the four options provided, this is the most appropriate type of online sampling method that has been employed by Zappos.com.
Not all sampling methods are probabilistic, some of them are non-probabilistic. The following are the non-probabilistic sampling methods:-
Quota sampling:- This is a non-probabilistic sampling technique that involves dividing the population into mutually exclusive groups. The non-random selection of subjects is made to ensure that the group reflects the various characteristics of the population, such as age, sex, occupation, etc.
Cluster sampling:- A statistical technique that is often used in market research and opinion polls is cluster sampling. A cluster is a group of individuals that share similar characteristics, such as age, gender, location, income, education, etc. They are first randomly selected, and then each person in the cluster is sampled.
Stratified sampling:- The population is first divided into mutually exclusive groups and then a random sample is taken from each of these groups. This approach is used when there are clear differences between groups in the population, such as age, gender, or education.
In this way, it is ensured that the sample reflects the characteristics of the population in each group. The rating scale below is an example of "Semantic-Differential scale". The semantic differential is a type of rating scale that is used in surveys and research studies to measure people's attitudes towards different objects or concepts.
The semantic differential scale is designed to measure the connotative meaning of concepts, objects, and events. It consists of a series of bipolar adjectives or phrases, separated by a scale that ranges from one extreme to the other.
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What do quotas and embargoes have in common?
They both tend to raise prices.
They both affect imports from certain countries.
They both set limits on imported goods.
They both frequently result in domestic shortages.
Answers
Answer:
They both set limits on imported goods
Explanation:
An embargo is an order placed by a government restricting or prohibiting trade with another country. An embargo may be issued on specific goods only or wholesome trade with the country or region.
A quota is also an order issued by a government that limits the volume of goods or services that can be imported. The quota may limit the volume in quantity or in monetary value. Importing beyond the limit becomes illegal.
Both embargo and quota place restrictions on imports to a country.
Answer: C or They both set limits on imported goods.
Explanation: Edge2023
A country has an absolute advantage in the production of a good if that country _____ a. has the lowest opportunity cost of producing the good, regardless of whether it is produced using the fewest resources. b. can produce the good using fewer resources than another country would require. c. has the greatest opportunity cost of producing the good, regardless of whether it is produced using the fewest resources. d. has the greatest opportunity cost of producing the good and can sell it at the highest price. e. has the lowest opportunity cost of producing the good and can sell it at the highest price.
Answers
Answer:
B
Explanation:
less resources are used and the country can also earn the same amount of money as the other countries with using less resources
A country has an absolute advantage in the production of a good if that country "can produce the good using fewer resources than another country would require". The correct option is B.
The country has an absolute advantage if it can produce a good using fewer resources than another country that means that this country is really good at making that product efficiently.
For example, the two countries making the same thing like cars. If Country A can make a car using fewer materials, time and effort than Country B then Country A has an absolute advantage in car production.
It's like being really good at making something with less waste and fewer expenses and making it more efficient overall.
Absolute advantage is about being the best at making a particular product by using as little as possible to get the job done.
Therefore, the correct option is B.
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Beta is...1. a measure of a stock's total risk.2. how much a stock's returns vary with the market return.3. a measure of a stock's unsystematic risk.4. a tropical fish.
Answers
Beta is NOT a tropical fish. Beta is a financial term used to measure how much a stock's returns vary with the market return. It is essentially a measure of a stock's systematic risk, or the risk that is inherent in the overall market.
A higher beta indicates that a stock is more volatile and risky, while a lower beta indicates that a stock is less volatile and risky. Beta is not a measure of a stock's total risk or unsystematic risk, as those factors are measured by other financial metrics.
Beta measures the systematic risk of a stock, which is the risk that is common to the entire market and cannot be diversified away. It represents the stock's sensitivity to changes in the market and is often used as a measure of a stock's volatility relative to the market. Beta is not a measure of a stock's total risk (statement 1) or its unsystematic risk (statement 3). Finally, beta has nothing to do with tropical fish, so statement 4 is incorrect.
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You earn $3,000 per month and spend about $2000 per month on food and $1000 per month on rental apartment housing. Ceteris paribus, which of the following can we inter with respect to elasticity?
A. The price elasticity of demand for both food and apartments is elastic.
B. The price elasticity of demand for both food and apartments is inelastic.
C. The price elasticity of demand for food is less elastic than apartments.
D. The price elasticity of demand for food is more elastic than apartments.
E. We cannot infer anything because it all depends on what is necessity and what is a luxury good
Answers
E. We cannot infer anything because it all depends on what is a necessity and what is a luxury good.
The concept of elasticity measures the responsiveness of demand to changes in price. It depends on various factors, including the nature of the goods or services being considered.
In this case, without further information, we cannot determine the price elasticity of demand for food and apartments solely based on income and expenditure data. Elasticity varies across different goods and services, and it is influenced by factors such as availability of substitutes, necessity vs. luxury status, and consumer preferences.
For example, if food is considered a necessity and has limited substitutes, the price elasticity of demand for food may be relatively inelastic. On the other hand, if apartments are considered a luxury and have more substitutes available, the price elasticity of demand for apartments may be relatively elastic.
Given the limited information provided, it is not possible to make a definitive statement about the price elasticity of demand for food and apartments. Further analysis is needed, taking into account the specific characteristics of each good and consumer preferences.
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