The difference between a materials requirement planning (MRP) and master production schedule (MPS) are: Requirement Planning and Production Schedule
Materials Requirement Planning (MRP) is a computerized inventory planning and control system used to manage manufacturing processes. It takes into account the amount of raw materials and components needed to produce a given product, and calculates the required lead times, procurement and production schedules.
A Master Production Schedule (MPS) is a schedule which states how many of each product are to be produced in a given period of time. It takes into account the customer demand, the level of inventory, and the production capacity of the organization.
Examples of how MRP is applied in the supply chain:
1. Creating an accurate bill of materials that includes detailed information about all parts needed to create a product
2. Calculating the lead time to procure parts from suppliers
3. Creating accurate schedules for manufacturing operations
Examples of how MPS is applied in the supply chain:
1. Determining customer demand for products
2. Planning for the amount of inventory to keep on hand
3. Determining the production capacity needed to meet customer demand.
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complete question:
Explain the difference between a materials requirement planning (MRP) and Master Production Schedule. Provide examples how each are applied in the supply chain.
true or false: if older people consume the same market basket as other people, then social security would have an uncertain impact on their standard of living.
The statement " if older people consume the same market basket as other people, then social security would have an uncertain impact on their standard of living." is True. If older people consume the same market basket as other people, then Social Security will have an uncertain impact on their standard of living.
Market basket is the total of goods and services bought by a consumer. If older people consume the same market basket as other people, then social security would have an uncertain impact on their standard of living. This is because social security benefits may not cover the cost of all of the goods and services in the market basket.
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multiple select question select all that apply according to critics, what are the disadvantages of the dramatic change in the communication process in recent decades? (check all that apply.) multiple select question. it has made communication impersonal. it has added delays and filters in interpersonal communication. it has made rapid communication impossible. it has rendered communication less meaningful than before.
According to critics, the disadvantages of the dramatic change in the communication process in recent decades are: It has made communication impersonal. It has added delays and filters in interpersonal communication. It has rendered communication less meaningful than before.
What is the Communication process?
Communication is a process of exchanging information, thoughts, and messages between individuals via a specific channel or medium. Communication is defined as the process by which information is exchanged and understood by two or more people using symbols, signs, or behavior patterns.
The disadvantages of the dramatic change in the communication process in recent decades are:
1. It has made communication impersonal. The emphasis on the message has led to a shift in attention away from the recipient and towards the substance.
2. Modern communication technology is unable to completely substitute face-to-face interactions. The use of intermediaries (text messages, emails, etc.) has resulted in delays and filters in interpersonal communication.
3. The ease with which people can communicate in the digital age has resulted in a decrease in the quality of communication. This means that in the digital age, communication is less meaningful than it was before.
Therefore, the correct answer is A, B,&D
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if vince charged $300 on his credit card with 24 percent apr and he paid his balance in full within the grace period, how much was he required to pay?
Vince was required to pay the full amount of $300.
Vince was required to pay the full amount of $300 that he charged on his credit card if he paid it within the grace period. The grace period is typically between 20 and 25 days after the billing cycle ends.
The Annual Percentage Rate (APR) of 24% does not come into play when the balance is paid in full within the grace period as no interest is charged.
To calculate how much Vince was required to pay:
The amount charged was $300The grace period was between 20 and 25 daysVince paid the full amount within the grace periodTherefore, Vince was required to pay the full amount of $300 that he charged on his credit card if he paid it within the grace period.
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now that you have some idea of the questions the stakeholders will ask, you and a team member consider different objections that might arise. your team member asks you how you will respond if someone from gaea questions your data-cleaning process. how do you prepare for this objection? select all that apply. 1 point be prepared to explain why data cleaning is not relevant at this stage of the project keep a detailed log of your data-cleaning process practice answering questions about your data-cleaning process add your data-cleaning log to the slideshow appendix
You will be able to provide evidence of the steps you took to clean the data and answer any questions about the process if you keep a detailed log of your data-cleaning process.
How can the data-cleaning process be prepared?I have made a detailed log of the steps I took to clean the data so that I can be ready for any questions a Gaea representative might have about it. The kind of cleaning I did, the tools I used, and the result of the process are all documented in this log. I will be able to easily demonstrate the steps I took to ensure accurate results and explain the data-cleaning process thanks to this. The data-cleaning log has also been added to the slideshow appendix so that the Gaea representative can review it whenever they want.
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asking questions of your prospective boss and colleagues about the organization indicates you are focusing on which career readiness competency? multiple choice personal adaptability networking professionalism/work ethic
Asking questions of your prospective boss and colleagues about the organization indicates you are focusing on networking.
What is Networking
Networking involves building and maintaining relationships with people who can help you in your career. Asking questions of your prospective boss and colleagues about the organization shows that you are interested in learning more about the company and building relationships with the people who work there.
This is a key aspect of the networking competency, which is one of the four career readiness competencies identified by the National Association of Colleges and Employers.
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assume only the specified parameters (that is, variables) change in a sensitivity analysis. if the contribution margin increases by $2 per unit, then operating profits will
If the contribution margin increases by $2 per unit, then operating profits will increase by $2 per unit sold.
Sensitivity Analysis : Sensitivity analysis is a method for determining how different variables affect an outcome in a specific model. A one-way sensitivity analysis determines the impact of changes in a single variable on the outcome.
Operating profits : Operating profit refers to the profit made by an organization after deducting operating expenses. Operating profit is derived by subtracting operating expenses, such as salaries and wages, rent, and utilities, from total revenue.
Contribution margin : Contribution margin is a business accounting term that describes how much revenue a company has left over after paying all variable expenses related to producing or selling a product. It is calculated by subtracting the total variable costs of producing or selling a product from the total sales revenue.
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advertising abuses include all of the following types except a. psychological appeals. b. concealed facts. c. cynical depictions. d. ambiguity.
Advertising abuses include all of the following types except ambiguity.
What is advertising?Advertising is defined as a promotional technique used by a company or a business for their products or services to persuade the public or target audience to buy or invest in them. Advertising is a form of communication used to persuade an audience or public to buy or take action towards a product, service or idea.
There are several ways advertisers use to persuade their target audience, such as commercials, social media, print ads, billboards, flyers, and many more.
What are advertising abuses?Advertising abuses refer to the false or misleading advertising practices that are created to manipulate consumers. They are illegal and are considered unethical as they deceive the public or target audience into buying their products or services.
Advertising abuses include the following types:
Concealed facts, Cynical depictions, Ambiguity, Psychological appeals, Misleading statistics, Visual illusions, Hyperbole, Humor, False premises, Loaded language, Scare tactics.
What is ambiguity?Ambiguity is the practice of using vague, complex or confusing language to make a statement or claim. The ambiguity is commonly used in advertising to manipulate the consumer by hiding or misleading them into buying their products or services. Hence, advertising abuses include all of the following types except ambiguity.
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the nurse is documenting a variance that has occurred during the shift. this report will be used for quality improvement to identify high-risk patterns and, potentially, to initiate in-service programs. this is an example of which type of report?
The report being used for quality improvement and potentially initiating in-service programs indicates that it is a variance report.
What is variance report?
The nurse is documenting a variance report, which is a type of incident report that documents any deviation or unexpected event from the expected standard of care. Variance reports are often used in healthcare settings to identify areas where quality improvement is needed and to develop interventions to prevent future occurrences of the same issue. Therefore, the report being used for quality improvement and potentially initiating in-service programs indicates that it is a variance report.
What is deviation ?
Deviation refers to a departure or deviation from a standard or expected norm. In various fields, such as statistics, engineering, or quality management, deviation is used to measure how much a particular observation differs from the expected value.
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brenda williams plans to rent instead of buy her housing. what advantage of renting will brenda encounter?
Brenda Williams plans to rent instead of buy her housing, which can be advantageous for several reasons. Firstly, renting allows Brenda to save money by avoiding the costs of a down payment, monthly mortgage payments, and other costs associated with homeownership.
Additionally, since Brenda does not own the property, she does not need to worry about the cost of maintenance or repairs. Furthermore, renting allows Brenda to be more flexible with her living situation. If she decides she wants to move after a few months or a year, she can do so without worrying about selling the house or paying off the mortgage. Finally, renting often comes with access to amenities like pools, gyms, or other services that she may not have access to if she were to buy her own home. All in all, renting can be a great way for Brenda to save money, gain flexibility, and access amenities that may not be available to her as a homeowner.
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research should be avoided when resources such as time and budget are lacking to do the research properly. group of answer choices true false
True, research should be avoided when resources such as time and budget are lacking to do the research properly.
Research is the organized and scientific quest for new knowledge about the nature and behavior of the universe. The process is generally based on the systematic collection, interpretation, and evaluation of data gathered through various methods of inquiry and analyzed using established analytical procedures. Researchers in various fields and disciplines engage in research to expand their understanding and knowledge of phenomena, test theories, and develop new applications and technologies. Research may be undertaken in a variety of contexts, including educational, governmental, industrial, and scientific contexts.
Research is beneficial when conducted properly. However, research should be avoided when resources such as time and budget are lacking to do the research properly. When researchers do not have enough time, funding, or other resources to conduct thorough research, the results may be flawed or incomplete. This can lead to incorrect conclusions and limit the potential impact of the research results.
As a result, researchers should carefully evaluate their resources before embarking on research projects to ensure that they have the necessary resources to conduct research properly.
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bob purchases a book for $4, and his consumer surplus is $2. how much is bob willing to pay for the book? group of answer choices $2 $6 $8 $4
Bob's consumer surplus can be defined as the difference between what he is willing to pay for an item and the actual price he pays for it His willingness to pay was $6
Thus, if Bob paid $4 for the book and his consumer surplus was $2, then he would have been willing to pay $6 for the book.
Since consumer surplus is defined as the difference between the maximum amount that consumers are willing to pay and the actual amount they pay for a product, Bob's willingness to pay for the book is $6.
His willingness to pay was $6 because the consumer surplus he gained was $2.
Thus, if the price of the book was $6, Bob would have had no consumer surplus, and if it was higher than $6, he would have been better off without purchasing the book. Consequently, the amount Bob is willing to pay for the book is $6.
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a(n) occurs when a business increases its facilities and workforce by the same percentage and output increases by a larger margin while costs decrease.
An 'economies of scale' occurs when a business increases its facilities and workforce by the same percentage and output increases by a larger margin while costs decrease.
WHAT'S ECONOMY OF SCALEEconomies of scale occurs when a business increases its production output and reduces its unit costs by increasing its scale of production, typically through additional capital investments.
This increased production typically happens when firms have the ability to take advantage of a large market and can achieve cost savings by producing a large quantity of goods. Economies of scale can also be achieved through increased specialization, the use of automation, and improved business processes.
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paul smith is not happy with the appraised value of his home. he appealed to the county appraiser's office and was turned down. he has also been turned down by the value adjustment board. what can he do next?
Paul Smith has two options if he is unsatisfied with the appraised value of his home. It is important to note that these options may not result in the desired outcome.
1. He can file a lawsuit in the Circuit Court for a new appraisal of his home.
2. He can also file a claim for exemption or a property tax deferral with the Property Appraiser's Office.
The first option requires filing a complaint and paying a fee in the Circuit Court. The complaint must include specific facts which support why the appraised value should be changed. The court may order a new appraisal and adjust the value.
The second option requires submitting a completed application with all of the necessary documentation to the Property Appraiser’s Office. If the application is approved, the exemption or deferral could result in a lower tax bill for the current tax year.
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a marketing researcher wants to know what percentage of consumers would purchase a car that has not yet been produced. she would likely have a hard time finding secondary data to address this due to . group of answer choices lack of availability lack of relevance inaccuracy insufficiency none of the above
A marketing researcher who wants to know what percentage of consumers would buy a car that hasn't yet been manufactured is likely to have a hard time finding secondary data to address this due to lack of availability.
Secondary data refers to information that has already been gathered and published by other researchers or organizations. Secondary data has a number of advantages, including saving time and money when conducting research, as well as providing historical context and benchmarking for a study.However, there are limitations to the use of secondary data.
The quality and accuracy of secondary data are crucial. As with any study, the validity of the findings is dependent on the accuracy of the data that was gathered. There are several reasons why a researcher might have a hard time finding secondary data to address this question. Some of them include:The fact that the product does not exist yet. If a product is still in development or hasn't yet been released, there is no data on how it will perform in the market.Lack of availability.
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As you first begin the composition process, which of the following questions should you ask yourself? Check all that apply.
-Will the audience listen to me?
-Why am I sending this message?
-What do I hope to achieve by sending this message?
-Do I really want to write this message?
-Should this be an e-mail or a memo?
The following questions should you ask yourself as you first begin the composition process: "why am I sending this message?" and "what do I hope to achieve by sending this message?"
As you first begin the composition process, the questions that you should ask yourself include: "Why am I sending this message?" and "What do I hope to achieve by sending this message?". It is essential to focus on these aspects of the writing process because they will help you establish a clear and concise message to the audience.
In addition to these questions, it is also important to consider the following when starting the composition process: Who is the audience for this message? What is the primary purpose of this message? What are the key points that need to be addressed? What is the most effective way to structure and organize the message?
By asking these questions and addressing these points, you can create a well-organized and effective message that meets the needs of the audience and achieves the intended purpose.
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an engineer invests $5000 at the end of every year for 40 year career. if the engineer wants $1 million in savings at retirement, what interest must the investment earn? (5 pts.)
An engineer wants to earn $1 million in savings at retirement, and they invest $5000 at the end of each year for a 40-year career.
We need to figure out the interest rate that the investment must earn in order to achieve the engineer's goal.Investment.The investment made by the engineer at the end of every year for 40 years can be calculated using the following formula:
FV = PMT x ((((1+i)^n)-1)/i)Where:FV = Future value of the investmen PMT = Payment made = Interest rate per periodn = Number of payment periodsGiven:PMT = $5000n = 40 years.
FV = $1,000,000Solving for i:1,000,000 = 5,000 x ((((1+i)^40)-1)/i)200 = (((1+i)^40)-1)/Alternatively, we can use trial and error or an online calculator. The interest rate required is approximately 8.17%.Therefore, the investment must earn approximately 8.17% interest in order for the engineer to achieve their goal of having $1 million in savings at retirement.
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(T/F) a startup adviser is an individual who provides advice on running your startup and holds decision-making control on the management team.
The given statement " A startup adviser is an individual who provides advice on running your startup and holds decision-making control on the management team " is False because they do not hold decision-making control on the management team.
Startup advisors have typically experienced professionals with knowledge in specific industries or business areas, and their role is to offer recommendations and share their insights based on their expertise. They can assist with various aspects of a startup, such as business strategy, marketing, technology, operations, or financial management.
However, the ultimate decision-making authority remains with the founders and the management team. Advisors are there to support and guide the startup's growth, but they are not directly involved in running the company. They serve as a sounding board for ideas and help entrepreneurs avoid common pitfalls, but the responsibility for the startup's success or failure lies with the founders and the management team.
Involving advisors can be beneficial for startups, as they can provide valuable connections, industry knowledge, and potential access to funding opportunities. When choosing advisors, it is crucial to select individuals who have experience and expertise relevant to the startup's industry, as well as a genuine interest in supporting the company's growth.
In summary, a startup advisor is an individual who offers advice and expertise to help a startup succeed but does not hold decision-making control over the management team. Their role is to guide and support the startup, while the ultimate responsibility for the company's decisions and performance lies with the founders and the management team.
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the table contains prices and output for a two-good economy. nominal and real gdp in 2013 are both $33,500. use the information in the table to answer the questions.what is nominal gdp in 2014?
The table indicates that nominal GDP in 2014 is $34,000. This is calculated by adding the total nominal output for 2014 ($17,000 + $17,000) to the 2013 nominal GDP of $33,500.
Nominal GDP (Gross Domestic Product) is the total monetary value of all final goods and services produced within a country's borders during a given period of time, typically a year. It is calculated by adding up the monetary value of all goods and services produced by businesses and individuals in a country.
In the given scenario, the nominal GDP for 2014 is calculated by adding the total nominal output for 2014 to the 2013 nominal GDP. The total nominal output for 2014 is the sum of the monetary value of all goods and services produced by businesses and individuals in that year.
Assuming that there were only two sectors in the economy in 2014, each with a nominal output of $17,000, the total nominal output for 2014 would be $17,000 + $17,000 = $34,000.
To calculate the nominal GDP for 2014, we add the total nominal output for 2014 ($34,000) to the 2013 nominal GDP ($33,500), giving us a nominal GDP of $67,500 ($33,500 + $34,000).
Therefore, the nominal GDP in 2014 is calculated by adding the total nominal output for 2014 to the 2013 nominal GDP.
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which of the following focuses on production and operating statistics? group of answer choices critical success indicators performance measurement indicators potential for learning and growth indicators financial performance indicators business process indicators
Financial performance indicators focus on production and operating statistics.
Financial performance indicators measure the company’s financial health and performance, such as profits, costs, return on investment, liquidity, and debt-to-equity ratio. Performance measurement indicators, on the other hand, measure operational performance of the company, such as employee productivity, customer satisfaction, and quality of service. Critical success indicators focus on evaluating how well the company is doing in terms of meeting strategic goals and objectives. Potential for learning and growth indicators focus on assessing an individual’s or team’s capacity for development. Business process indicators focus on assessing the efficiency of the organization’s business processes.
Therefore, Financial performance indicators focus on production and operating statistics.
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dividend payments are . multiple choice question. concentrated in a small set of large firms spread over a large set of small firms spread over a large set of large firms concentrated in a small set of small firms
Dividend payments are concentrated in a small set of large firms. Hence, the correct option is (A).
What Are Dividend Payments?Dividends are payments that are distributed to the shareholders of a company. The company's board of directors usually decides when to issue dividends and the amount of the dividend. Generally, the amount of the dividend depends on the company's overall financial performance. Large companies often have more resources available to them and can generate higher profits, which allows them to issue larger dividend payments. Small companies typically cannot afford to issue as large of dividend payments.
The question was incomplete, but most probably your question was:
Dividend payments are
A. concentrated in a small set of large firms
B. spread over a large set of small firms
C. spread over a large set of large firms
D. concentrated in a small set of small firms
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a risk analysis technique in which probable future events are simulated on a computer, generating estimated rates of return and risk indexes is called
The risk analysis technique in which probable future events are simulated on a computer, generating estimated rates of return and risk indexes is called Monte Carlo Simulation.
What is Monte Carlo simulation?
Monte Carlo simulation is a simulation approach that employs random sampling, statistical modeling, and artificial intelligence to generate probable outcomes for a system. It is a computational algorithmic approach that is used to solve a mathematical or statistical problem through a repeated sampling of random variables.
It is used in finance, engineering, and the natural sciences to forecast the possible outcomes of a system. The analysis is the method of dividing anything into parts and examining each of those parts to understand how they operate as a whole. The process of examining a problem to establish possible solutions is known as analysis.
Monte Carlo simulation is a statistical method that uses random sampling to produce probable outcomes for a model. By simulating the potential outcomes of a problem, Monte Carlo simulation allows analysts to obtain a better understanding of the degree of risk involved in a decision-making process.
A risk analysis technique in which probable future events are simulated on a computer, generating estimated rates of return and risk indexes is called Monte Carlo simulation.
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using a perpetual inventory system, the entry to record the return of inventory previously purchased on account includes a:
Using a perpetual inventory system, the entry to record the return of inventory previously purchased on account includes a debit to the account that the inventory was credited to and a credit to the Accounts Payable account.
The perpetual inventory system refers to a system in which inventory is updated in real-time, with each transaction resulting in a corresponding entry into the inventory account.
In the perpetual inventory system, inventory is updated after each transaction, and as a result, inventory is always current and accurate. Because the inventory is continuously updated, the perpetual inventory system allows for the immediate determination of inventory levels.
The entry to record the return of inventory previously purchased on account includes a debit to the account that the inventory was credited to and a credit to the Accounts Payable account.
The journal entry for the return of inventory purchased on account is as follows:
Debit Inventory account
Credit Accounts Payable account.
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the principle that an informed purchaser would not spend more for a piece of real estate than the cost to purchase the land and the cost to construct a structure provides the rationale for which of these valuation methods?
The principle that an informed purchaser would not spend more for a piece of real estate than the cost to purchase the land and the cost to construct a structure provides the rationale for the Cost Approach valuation method.
This method values a property based on the cost to replace it, taking into account the cost of the land, plus the cost of materials and labor necessary to build a structure equivalent to the one being valued.
The Cost Approach is a popular method of valuing real estate because it is based on the principle that an informed and rational purchaser would not pay more for a piece of property than the cost to purchase the land and the cost to construct a structure.
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which economic index measures the aggregate price level in an economy and consists of a bundle of commonly purchased goods and services?
The economic index that measures the aggregate price level in an economy and consists of a bundle of commonly purchased goods and services is called the Consumer Price Index (CPI).
The Consumer Price Index (CPI) is a measure of the average price level of a basket of consumer goods and services purchased by households. It measures inflation, which is the rate at which the cost of goods and services is rising over time. The CPI is widely used as a measure of the cost of living and as an indicator of economic performance.
The CPI is calculated by taking the price of a basket of goods and services that are commonly purchased by consumers and then comparing it to the price of the same basket of goods and services in a previous period. The difference between the two prices is the rate of inflation.
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which option would not help rebecca get the furniture as soon as possible? a) installment loan b) layaway plan c) credit card d) rent-to-own
The layaway plan under option B is the greatest choice.
Describe the layaway plan ?Layaway is a term for a deferred payment plan in which the consumer makes deposits or installment payments for goods they intend to buy later. Once the customer makes the initial payment, the retailer reserves, lays away, and stores the item for a predetermined duration.
During these times, the layaway payment plan became a more practical and cost-effective approach to handle pricey items. Customers were able to pay in tiny deposits. The deferred payment plan has been available in significant retail shops for many years and has grown in popularity.
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what is the first stepo that a smart new car buyer should take before talking to salespersons and putting a deposit on a car? weeegy
Study the car market is the first stepo that a smart new car buyer should take before talking to salespersons and putting a deposit on a car. The answer is OPTION C.
Automobile engineering is a subfield of engineering that teaches automobile production, design, mechanical mechanisms, and operation. It serves as an introduction to the engineering of vehicles, including trucks, buses, cars, and motorbikes.
Automotive engineering graduates can find work in the following auto production industries: service centers for manufacturers, R&D facilities, production facilities, motor vehicle regulatory agencies, insurance companies, and transportation companies. The CARS portion is intentionally designed to be demanding and difficult. You must continuously practice with model texts and outside reading. The answer is OPTION C.
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The question is incomplete complete question is given below
A. Shop around for a car loan.
B. Test-drive the car.
C. Study the car market.
D. Obtain car insurance.
zack buys a policy and names his wife, tammy, as the beneficiary. she is insured as well. zack is the beneficiary on her policy. zack is killed immediately. tammy dies 10 days later due to complications from the accident. their son, james, is the secondary beneficiary on both policies. james has no will. q: if their son, james, is already dead, then to whom would the life insurance proceeds go?
If their son James is already dead, then the life insurance proceeds would go to the following beneficiaries: Zack buys a policy and names his wife, Tammy, as the beneficiary. She is insured as well. Zack is the beneficiary on her policy.
Zack is killed immediately. Tammy dies ten days later due to complications from the accident. Their son, James, is the secondary beneficiary on both policies. James has no will.
If James is already dead, then the life insurance proceeds will go to the contingent beneficiary, which is the person or entity named to receive the proceeds if the primary beneficiary predeceases the insured.
The life insurance policy's language determines the contingent beneficiary. If no contingent beneficiary is specified, then the proceeds will go to the insured's estate.
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what is the industry that hartung sees as being instrumental in understanding war? would his analysis fir propoerly within class system theory? why or why not?
Hartung sees the military-industrial complex as being instrumental in understanding war. His analysis does indeed fit properly within class system theory, as it demonstrates how elites hold the power to control nations and their citizens.
The military-industrial complex creates a system where powerful elites are able to control a country's resources and shape its political, economic, and military operations. This system of control is inherently unfair, as the powerful elites benefit while the general public faces the consequences of their decisions.
Furthermore, this complex creates a permanent war economy. It uses the public's resources to enrich the elites, create jobs, and expand the military-industrial complex's interests. This complex creates a self-perpetuating system, in which the powerful elites are able to control the economy and maintain their power. This system of control keeps the population in a state of subjugation and prevents social mobility.
In summary, Hartung's analysis of the military-industrial complex demonstrates how elites hold the power to control nations and their citizens. This system of control creates an inherently unfair and self-perpetuating system which keeps the population in a state of subjugation. It is within this context that class system theory is applicable.
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Computing Cost of Sales and Ending Inventory
Stocken Company has the following financial records for the current period.
Units Unit Cost
Beginning Inventory 150 $ 50
Purchases: #1 600 48
#2 500 46
#3 250 45
Ending inventory is 350 units. Compute the ending inventory and the cost of goods sold for the current period using (a) first-in, first out, (b) average cost, and (c) last-in, last out. (Hint: For average cost, round average cost per unit to two decimal places for calculation of ending inventory. Round to the nearest whole number. Cost of goods sold = Cost of goods available for sale less ending inventory.)
LIFO and Average cost methods To compute the ending inventory and the cost of goods sold for the current period using FIFO, , we need to first calculate the cost per unit.
The calculations are as follows:Average cost = Total cost of goods available for sale ÷ Total units available for sale= ($600 × 48) + ($650 × 38) + ($250 × 45) ÷ (48 + 38 + 45) = $32.77 (rounded to two decimal places) Cost per unit (FIFO) = $600Cost per unit (LIFO) = $250Cost of Goods Available for Sale = ($600 × 48) + ($650 × 38) + ($250 × 45)= $28,500(a) FIFO Method Calculation: Ending Inventory = 48 + 38 + 50 + 26 + 15 + 16 + 157 = 350
UnitsCost of goods sold = Cost of goods available for sale - Ending inventory= $28,500 - ($600 × 48) - ($650 × 38) - ($250 × 45) = $6,600(b) Average Cost Method Calculation: Ending Inventory = $32.77 × 350 units= $11,474.50Cost of goods sold = Cost of goods available for sale - Ending inventory= $28,500 - $11,474.50 = $17,025.50(c) LIFO Method Calculation:Ending Inventory = 157 unitsCost of goods sold = Cost of goods available for sale - Ending inventory= $28,500 - ($250 × 157) = $5,865.
Therefore, the cost of goods sold and ending inventory for the current period using FIFO, LIFO, and average cost methods are as follows:FIFO Method:LIFO Method:Average Cost Method:Ending Inventory:350 units157 units$11,474.50Cost of Goods Sold:$6,600$5,865$17,025.50.
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arketing is about predominately a, selling products/services. b, providing benefits. c,maximizing profit. d,
Marketing is about providing benefits to customers and satisfying their needs. It involves creating, communicating, and delivering offerings that have value for customers, clients, partners, and society at large. The Correct Option is b) providing benefits
It focuses on understanding customer needs, developing and delivering services and products to meet these needs, and managing customer relationships.
Ultimately, it's about maximizing profit by creating and keeping satisfied customers. Marketing strategies typically involve activities such as market research, pricing strategies, product or service promotion, and distribution.
Through market research, businesses can gain a better understanding of their customer's needs and wants, which can then be used to create services and products to meet these needs.
Pricing strategies involve setting prices for products and services in order to make them affordable and appealing to consumers. Product or service promotion helps businesses to reach a larger audience and create greater awareness of the company.
Distribution involves getting the product or service to the customer in the most efficient manner.
Marketing is also about creating a brand image, which involves developing a corporate identity that customers can recognize and trust. This involves designing a logo, website, and social media presence that reflects the company’s values and message.
It also involves developing relationships with customers, partners, and influencers to create brand loyalty. Ultimately, the goal of marketing is to create satisfied customers and maximize profits.
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Complete Question
Marketing is about predominately a) selling products/services. b) providing benefits. c) maximizing profit. d) Increasing sales