Managerial accounting primarily focuses on past performance using historical information, emphasis is on projects, processes, and divisions. These four characteristics are the correct answers.
Managerial accounting is a type of accounting that concentrates on the provision of accounting information for use by internal stakeholders of an organization. It is also referred to as management accounting. Its characteristics are highlighted below:
Primarily focuses on past performance using historical information:
Managerial accounting focuses on the past financial transactions and their impact on the organization. This means that it uses historical data to help managers make informed decisions for the future.
Emphasis is on projects, processes, and divisions:
The primary aim of managerial accounting is to help managers to evaluate the financial performance of a division, project, or process. This means that it seeks to identify the profitability of different segments of an organization.
Information is usually available only after an audit:
To ensure that the information provided by managerial accounting is accurate and relevant, it often requires an audit. This means that the information is available only after an audit is performed.
Focus is on internal users:
Managerial accounting focuses on the information needs of internal stakeholders of an organization. This includes management and employees, who use the information provided to make decisions.
Includes mostly monetary and some nonmonetary information:
Managerial accounting provides both monetary and nonmonetary information. The monetary information refers to financial transactions and includes cash inflows and outflows, revenues, expenses, and profits. On the other hand, non-monetary information refers to non-financial measures such as customer satisfaction, employee satisfaction, and productivity.
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what does the 4-1 rule state? group of answer choices for every four images posted, post one video for every four pieces of self-promotional content posted, share one piece of content from others none of these options for every single piece of self-promotional content posted, share four pieces of content from others
The 4-1 rule states that for every four pieces of self-promotional content posted, one should share one piece of content from others
The 4-1 rule is a social media marketing concept that helps individuals or businesses create a balance in their social media postings. The rule states that for every four pieces of self-promotional content posted, one should share one piece of content from others.
This means that you should aim to post one promotional post followed by four pieces of engaging content from others, to maintain an engaged audience on social media.
This practice not only prevents the over-promotion of the brand but also helps create a community on social media.
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the production possibilities curve represents the actual gdp that is being produced. potential output that could be produced. potential gdp per capita that could be attained. actual population growth that is occurring.
The production possibility curve depicts the level of goods and services produced by the economy. As a result, the production possibility curve depicts the actual GDP produced by the economy. As a result, option A is right.
Actual GDP reflects the level of output in the economy.
The production possibilities curve (PPC) is a graph that depicts all of the possible output combinations given existing resources and technology. The PPC, also known as the production possibilities frontier (PPF), depicts scarcity and tradeoffs.
Curve of Production Potential Example: If watermelons must be produced in greater quantities, pineapple output must be reduced.
Point C on the graph indicates that if watermelons must be produced in 45,000 units, the corporation can only deliver 85,000 pineapples.
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What are some precautions one should take in reading the Employment Situation Report for a given month?
-The implication of the unemployment rate regarding slackness in the labor market is not entirely clear, as estimates of the natural rate of unemployment vary somewhat over time.
-Because revisions to the nonfarm employment estimate can be substantial, one shouldn't read too much into the number for any one month.
-Since the report is issued by the federal government, the job numbers are often manipulated by officials for partisan gain and so should be taken with a grain of salt.
- Changes in total nonfarm employment are volatile, so one should focus less on one month's number than on an average over several months.
The readers should be careful to avoid drawing broad conclusions from one month's worth of data.
What are some precautions one should take in reading the Employment Situation Report for a given month?The Employment Situation Report for a given month is released by the US Bureau of Labor Statistics every month. Here are some precautions one should take when reading the Employment Situation Report for a given month:
1. Changes in total nonfarm employment are volatile, so one should focus less on one month's number than on an average over several months.
2. Because revisions to the nonfarm employment estimate can be substantial, one shouldn't read too much into the number for any one month.
3. The implication of the unemployment rate regarding slackness in the labor market is not entirely clear, as estimates of the natural rate of unemployment vary somewhat over time.
4. Since the report is issued by the federal government, the job numbers are often manipulated by officials for partisan gain and so should be taken with a grain of salt.
The Employment Situation Report is a crucial source of data for assessing the state of the US economy.
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why is it believed that japanese companies prefer the payback period over the discounted cash flow methods for evaluating capital investment alternatives? multiple choice it is consistent with their corporate strategy of investing in new technology. japanese companies compete using very short product life cycles. all of the above cash flows over a long period of time are difficult to predict with much accuracy.
None of the options provided fully explains why Japanese companies prefer the payback period over the discounted cash flow methods for evaluating capital investment alternatives.
However, one possible reason is that Japanese companies tend to have a long-term perspective on investments and focus on building stable, long-term relationships with suppliers and customers. Therefore, the payback period, which measures the time it takes for an investment to generate enough cash flows to recover its initial cost, may be more attractive to them as it allows them to evaluate the investment's profitability in the short term and make decisions accordingly. Furthermore, the discounted cash flow methods may be less relevant in a low-interest-rate environment, which is characteristic of Japan.
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managers know change is successful when it becomes part of the corporate culture. group of answer choices true false
Managers know change is successful when it becomes part of the corporate culture. This statement is TRUE.
Change is often difficult to implement in organizations, but it is necessary for the growth and development of the organization. For this reason, it is essential for managers to understand what constitutes a successful change and how to go about achieving it. A successful change is one that is sustained over time and becomes part of the organization's culture. When a change is successfully integrated into the culture, it is no longer seen as an imposition but rather as a norm that is widely accepted and embraced by employees. Employees become comfortable with the change and begin to act in ways that are consistent with it.
In order to achieve successful change, managers must take several steps. First, they must communicate the change effectively to employees, providing them with clear and concise information about what the change entails and why it is necessary. Second, they must provide employees with the necessary resources and training to implement the change effectively. Third, they must provide ongoing support and feedback to employees, helping them to navigate any challenges or obstacles that may arise.
Finally, managers must ensure that the change is reinforced over time, so that it becomes part of the organization's culture. This may involve modifying the organization's policies, procedures, and reward systems to reflect the new culture. Overall, successful change requires a concerted effort on the part of managers and employees alike to embrace and sustain change over time.
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walter enterprises expects its september sales to be 30% higher than its august sales of $220,000. purchases were $170,000 in august and are expected to be $190,000 in september. all sales are on credit and are collected as follows: 40% in the month of the sale and 60% in the following month. all merchandise purchases are on credit and are paid as follows: 30% in the month of purchase and 70% in the following month. the beginning cash balance on september 1 is $8,300. the ending cash balance on september 30 would be:
Cash balance at september 30 is 404,900$.To determine the ending balance of cash we must first have to compute for the collections and disbursements made for the month of september.
Since the collections and purchases have different timings, we have to plot both to determine the collections and disbursements made.Afterwards, we can now compute for the ending cash balance through the formula: Beginning cash balance + Collections made in september - Disbursements made in september.
step 1.compute for the timing of collection on sales
september sales
august sales($220,000*60%) $ 132,000 $
september sales($220,000*120%*40%) 105,600 $
total collection for month of September 237,600
step 2.compute for the timing of disbursements on purchases
september disbursements
october purchases($170,000*60%) 102,000 $
september purchases($190,000*30%) 57,000 $
total disbursements for month of September 159,000
step 3. compute for the cash balance on september 30
balance,september $8,300
collection in september 237,600
disbursement in september (159,000)
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which of the following is not a financial activity? question 9 options: operating management contract management financial risk management financial reporting
Out of the following, financial reporting is not a financial activity.
Financial activities refer to the monetary transactions and dealings that an entity engages in order to run its operations smoothly. Financial reporting, on the other hand, is a process of presenting and communicating financial information of an entity to its stakeholders.
It helps in assessing the financial health of an organization and making informed decisions accordingly. It includes various reports like balance sheets, income statements, cash flow statements, and other financial reports that provide an overview of the company's financial position.
Hence, financial reporting is not a financial activity as it is just a tool to analyze financial activities that have already been carried out.
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choose the correct word to complete the sentence. when sensitivity and formality are essential in a message being sent outside the organization, the best channel to use is a . business letters are a primary channel of communication for delivering messages to recipients outside of an organization. they are powerful tools that can project a positive image of your company, encourage product feedback, and promote future business. when are business letters necessary? check all that apply. persuasive, well-considered presentation is important. recipients are located in another country. sensitivity is inconsequential. confidentiality is paramount. information requires fact checking
When sensitivity and formality are essential in a message being sent outside the organization, the best channel to use is a business letter.
Business letters are a primary channel of communication for delivering messages to recipients outside of an organization. They are powerful tools that can project a positive image of your company, encourage product feedback, and promote future business.
What are some instances where business letters are necessary?Check all that apply:
A persuasive, well-considered presentation is important. Recipients are located in another country. Confidentiality is paramount.The information requires fact-checking. Business letters are used when sensitivity and formality are essential in a message being sent outside the organization.
It is important to select the right communication channel to deliver a message. Business letters can be used in situations where recipients are located in other countries , persuasive, well-considered presentation is important, confidentiality is paramount, and information requires fact-checking.
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how much can you claim for donations without receipts 2022?
The amount that can be claimed for donations without receipts is less than $250.
For donations of $250 or more, taxpayers are required to obtain a written acknowledgment(receipts) from the organization which includes amount of donation, a description of any non-cash items donated, and a statement indicating whether any goods or services were provided in exchange for the donation.
For the donations of less than $250, taxpayers are not required to obtain a receipt, but they must have some other form of written documentation which includes name of organization, date of donation, and amount of donation.
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In process costing, manufacturing overhead costs are ______.
In process costing, manufacturing overhead costs are allocated based on a predetermined overhead rate calculated by dividing estimated overhead costs by estimated production activity.
Process costing allocates or assigns manufacturing overhead costs to items based on a preset overhead rate. A specified level of production activity, such as direct labor hours or machine hours, is estimated by dividing the entire expected manufacturing overhead expenses for a particular time by the predetermined overhead rate. Based on the actual amount of production activity that each unit really consumes, this rate is then used to apportion manufacturing overhead expenses to each unit of output. This technique of allocation helps to calculate the cost of producing each unit and guarantees that production overhead expenses are properly allocated to each unit of output.
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if total liabilities increased by $15,000 and stockholders' equity increased by $5,000 during a period of time, then total assets must change by what amount and directions during that same period?
then within that same time period, the total assets must shift by $10,000 in a downward manner.
What would happen if total assets rose by $190,000 over a certain time period and liabilities fell by $100,00 over the same time period?The change in total stockholders' equity for the period would be $200,000 higher if total assets rose by $190,000 during a given time period and liabilities fell by $10,000.
How can rising liabilities affect assets and equity?Assuming all other factors remain constant, a company's equity will rise in tandem with its asset growth and vice versa. While increasing liabilities—such as by paying off debt—can reduce equity, doing the opposite will result in equity growth.
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A(n)
can administer self-assessment tools
to help you understand your personality and
preferences.
O A. legal counselor
B. nutrition counselor
C. enrollment officer
OD. guidance counselor
ITS D
A guidance counselor can administer self-assessment tools to help you understand your personality and preferences.
What are roles of a Guidance counselors?Guidance counselors are professionals who provide support and guidance to students in areas such as academic achievement, career development, and personal/social growth. They often use self-assessment tools, such as personality tests and interest inventories, to help students gain insight into their strengths, weaknesses, and preferences.
These assessments can help students make informed decisions about their academic and career paths, as well as develop strategies for personal growth and development.
While other professionals, such as legal counselors, nutrition counselors, and enrollment officers, may also use self-assessment tools in their work, it is typically the role of a guidance counselor to administer these assessments in the context of education and career planning.
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in his first state of the union speech in january 2010, president obama proposed a tax credit for small businesses and tax incentives for all businesses that invest in new plant and equipment. the anticipated effect of these proposals on aggregate demand is
In his first State of the Union speech in January 2010, President Obama proposed a tax credit for small businesses and tax incentives for all businesses that invest in new plant and equipment. The anticipated effect of these proposals on aggregate demand is an increase.
These tax incentives are designed to encourage businesses to invest more in capital goods, such as machinery, equipment, and new facilities. As businesses increase their investment spending, this leads to a direct increase in aggregate demand, as investment is one of its component . Moreover, when businesses expand their operations and enhance their productive capacities, it can lead to job creation and higher employment levels.
As more people become employed, their disposable income rises, leading to higher consumption spending. Consumption is the largest component of aggregate demand, so an increase in consumption would further contribute to the rise in aggregate demand. Additionally, increased business investment can lead to technological advancements and increased productivity, which can stimulate economic growth in the long term.
Overall, President Obama's proposals aim to boost aggregate demand by encouraging business investment and promoting job creation, ultimately leading to increased consumption and economic growth.
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if the government imposes a price floor of $55 in this market, then total surplus will be group of answer choices $187.50. $137.50. $125.00. $275.00.
If the government imposes a price floor of $55 in this market, then the total surplus will be $137.50. Therefore the correct answer of this question would be calculated by using concepts of Surplus and Trade.
A price floor is a minimum price set by the government for a particular product or service. In this case, the price floor is $55. Total surplus is the sum of consumer surplus and producer surplus. Consumer surplus is the difference between what consumers are willing to pay and what they actually pay, while producer surplus is the difference between what producers receive for their goods and what they were willing to accept.
To determine the total surplus, we first need to find the equilibrium price and quantity in the market without the price floor. This is done by equating the supply and demand curves. However, we don't have enough information to determine the specific equilibrium.
With a price floor of $55, we know that producers will receive at least $55 for their goods, so producer surplus will increase. On the other hand, consumers will pay at least $55, which may result in some consumers no longer being willing to buy the product, causing a decrease in consumer surplus.
The total surplus with the price floor will be the sum of the new consumer and producer surpluses. Based on the given answer choices, the total surplus with a price floor of $55 is $137.50.
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dallas company uses a job order costing system. the company's executives estimated that direct labor would be $3,750,000 (150,000 hours at $25/hour) and that factory overhead would be $1,450,000 for the current period. at the end of the period, the records show that there had been 130,000 hours of direct labor and $1,150,000 of actual overhead costs. using direct labor hours as a base, what was the predetermined overhead rate? (round your answer to two decimal places.)
The predetermined overhead rate for Dallas company is $9.67 per hour.
The Dallas company uses a job order costing system, where direct labor and factory overhead are estimated in advance. The company executives estimated direct labor to be $3,750,000 (150,000 hours at $25/hour) and factory overhead to be $1,450,000 for the current period.
At the end of the period, the records showed 130,000 hours of direct labor and $1,150,000 of actual overhead costs.
Using direct labor hours as a base, the predetermined overhead rate can be calculated as follows:
Predetermined Overhead Rate = Estimated Overhead / Estimated Labor Hours
Predetermined Overhead Rate = $1,450,000 / 150,000 hours = $9.67 per hour
Therefore, the predetermined overhead rate for the Dallas company's job order costing system is $9.67 per hour (rounded to two decimal places).
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if the income elasticity of demand for lard is -3.00, this means that: group of answer choices lard is an inferior good. more lard will be purchased when its price falls. lard is a substitute for butter. lard is a normal good.
If the income elasticity of demand for lard is -3.00, this means that lard is an inferior good. Option A is correct.
Income elasticity of demand is a measure of how responsive the quantity of a good demanded is to changes in income. If the income elasticity of demand for a good is negative, it means that the good is an inferior good. This means that as income increases, the demand for the good decreases, and as income decreases, the demand for the good increases.
In this case, the income elasticity of demand for lard is -3.00, which is a negative value. This means that as income increases, the demand for lard decreases at a relatively faster rate. Therefore, lard is an inferior good, and people tend to buy less of it as their income increases.
Understanding income elasticity of demand can help businesses and policymakers make decisions about pricing, marketing, and distribution strategies. For example, a business that produces an inferior good like lard may need to adjust its marketing strategy to target lower-income consumers, while a government may need to consider the impact of income changes on the consumption of certain goods when designing social welfare programs. Option A is correct.
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trade barriers are group of answer choices restrictions on exports. the lack of incentives and subsidies to stimulate exports. restrictions on imports. the lack of incentives and subsidies to stimulate imports.
Trade barriers are the restrictions on imports and exports, thus the correct answer is restrictions on imports.
What are trade barriers?Trade barriers refer to the measures and policies that restrict or obstruct international trade by controlling the flow of goods, services, and capital between countries. Trade barriers include various types of restrictions on imports and exports, such as tariffs, quotas, subsidies, embargoes, and standards.
They are designed to protect domestic industries, promote local production, and reduce imports.Trade barriers have a significant impact on international trade and can affect economic growth, employment, and consumer prices.
Therefore, countries are encouraged to reduce trade barriers and promote free trade to increase economic efficiency and competitiveness.
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what is forbidden to collect from new hampshire’s beaches at night?
In New Hampshire, it is forbidden to collect or possess marine species, such as lobsters, crabs, and certain types of fish, from the state's beaches at night.
In New Hampshire, it is forbidden to collect any of live organisms, such as clams, mussels, and lobsters, as well as any dead shellfish or other marine life that may have washed up on the beach.
The purpose of this regulation is to protect the ecosystem of the state's beaches and to ensure that marine life is not overexploited or damaged by over-harvesting.
This regulation helps to prevent disturbance to the natural habitat and breeding areas of marine species, which is especially important during the breeding season.
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Help
Subject: Seasonal Product Vendors
>
се
Hi,
The Seasonal Product Team needs a vendor who can quickly adjust to changes in product demand. The Planning Team has sent
over a table comparing how the four available vendors have been performing. Can you identify which vendor to recommend?
Thank you,
Nadia Loomis
Task
Instructions
Rank order the vendors, keeping the Seasonal Product Team's needs in mind.
Flexibility
Customer Issues
Quantity Shipped
Shipped On Time
Rank
Vendor
1
D
.
.
1
.
2
K
.
.
3
V
.
.
.
.
4
Р
O
1
Based on the provided information, it appears that the Seasonal Product Team needs a vendor who can quickly adjust to changes in product demand. Therefore, flexibility should be a top priority when ranking the vendors.
Using this criteria, the vendor rankings would be as follows:Vendor D - This vendor appears to have the highest level of flexibility, as they have the fewest customer issues and have shipped the most quantity on time.Vendor K - While they have shipped slightly fewer quantities on time than Vendor D, they have the fewest customer issues, indicating a high level of customer satisfaction.Vendor V - This vendor has shipped the most quantity overall, but has a slightly higher number of customer issues and has not shipped as consistently on time as the top two vendors.Vendor P - This vendor has the highest number of customer issues and has not shipped as much quantity or as consistently on time as the other vendors. Vendor D appears to be the best option based on the provided information, due to their high level of flexibility and ability to ship products on time with few customer issues.
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g will a country, with a lot of natural resources, certainly have a high gdp per person? no, because there are other determinants of productivity no, because natural resources do not affect productivity yes, because it is the only determinant of productivity yes, because it is the main determinant of productivity
a country, with a lot of natural resources, certainly have a high gdp per person yes, because it is the main determinant of productivity
The most commonplace indicator used to measure and examine economic overall performance is Gross domestic Product (GDP). It looks at profits, however says not anything about wealth and assets that underlie this earnings. for instance, the exploitation of mineral assets increases GDP but certainly depletes the wealth of any given united states of america.herbal assets have a double-edge effect on financial boom, in that the intensity of its use increases output, but increases its depletion rate. natural resource is a key enter within the manufacturing method that stimulates monetary increase
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a preferred stock from dlc pays $5.10 in annual dividends. if the required return on the preferred stock is 12.1 percent, what is the value of the stock?
The value of the stock = $42.14876 rounded off to $42.14
A perpetuity is an endless succession of constant-amount cash flows that happen at regular intervals. We refer to them as perpetual because there is no limit to the number of them. Because perpetual preferred stock pays a constant dividend at regular periods, it can also be considered to be in the form of a perpetuality. We employ the present value of perpetuity formula, which is, to determine the price of the preferred shares.
the required return on the preferred stock = 12.1 percent
a preferred stock from dlc pays = $5.10 in annual dividends
PV is equal to cash flow divided by r.
Where,
r is the required rate of return
PV = 5.1 / 0.065
Hence, the value of the stock = $42.14876 rounded off to $42.14
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your journal what‘s the difference between sales tax and excise tax?
Sales tax is a tax on the sale of goods and services, while excise tax is a tax on the production, sale, or use of a specific product or activity, such as gasoline or tobacco.
Sales tax and excise tax are both forms of consumption taxes, but they differ in their scope and application. Sales tax is typically a percentage of the price of goods or services that are sold to end consumers. It is collected by the seller at the point of sale and remitted to the government. In contrast, the excise tax is a tax on specific products or activities, such as gasoline, tobacco, or alcohol. It is typically a fixed amount per unit of the taxed item, and it is usually paid by the manufacturer or importer of the product before it reaches the market. Excise tax is often used to discourage certain behaviors or to raise revenue for specific government programs. Both sales tax and excise tax are important sources of revenue for state and federal governments.
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which one of the following statements is false? a. financial executives must design financial securities to meet the needs of the firm and its investors. b. financial instruments are subject to full disclosure requirements. c. the design of financial instruments is greatly constrained by law and regulation. d. financial instruments are claims against a company's cash flows and assets.
The following statements are false the design of financial instruments is greatly constrained by law and regulation. option (C) is correct.
Examples of non-financial assets incorporate substantial resources, like land, structures, engine vehicles, and gear, as well as elusive resources, like licenses, generosity, and protected innovation. Fates contracts, credit recorded agreements, and loan cost trades are completely remembered for subsidiary instruments.
Monetary instruments might be isolated into two sorts: cash instruments and subordinate instruments. Money-related instruments may in like manner be separated by an asset class, which depends upon whether they are commitment based or value-based. Unfamiliar trade instruments involve a third, interesting kind of monetary instrument. Therefore, option (C) is correct.
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barton company has beginning work in process inventory of $144,000 and total manufacturing costs of $686,000. if cost of goods manufactured is $660,000, what is the cost of the ending work in process inventory?
The cost of ending work in process inventory is $170,000.
How to determine the cost?The cost of ending work in process inventory can be determined by using the following formula:
Cost of ending work in process inventory = Beginning work in process inventory + Manufacturing costs – Cost of goods manufactured Let's plug in the given values and calculate the cost of the ending work in process inventory.
Barton Company has beginning work in process inventory of $144,000 and total manufacturing costs of $686,000.
Cost of goods manufactured is $660,000.
Cost of ending work in process inventory = $144,000 + $686,000 - $660,000
Cost of ending work in process inventory = $170,000
Therefore, the cost is $170,000.
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activities relate to specific products and typically must be carried out regardless of how many batches or units of the product are manufactured.
Activities relate to specific products and typically must be carried out regardless of how many batches or units of the product are manufactured are called Product-level activities.
What are Product-level activities?
Product-level activities are activities that are performed regardless of how many units or batches of a product are produced. A company's product line has a direct impact on these types of activities.
The direct costs of creating a product are included in product-level activities. The following are examples of Product-level activities that relate to specific products:
Creating a product design
Engineering, product planning, and design
Marketing activities that are product-specific
Handling of product orders and customer inquiries specific to the product
Development of product packaging and literature
What is a batch?
A batch is a collection of items that are produced at the same time in the same way as a set.
For example, a bakery may make a batch of 50 loaves of bread. A batch might also refer to a group of items produced during the same process, such as a batch of printed labels.
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The activity that relates to specific products and typically must be carried out regardless of how many batches or units of the product are manufactured is called "Setup activities."
Setup activities are activities that relate to specific products and typically must be carried out regardless of how many batches or units of the product are manufactured. They involve the setup of equipment, machines, and workstations to make them ready for a particular product or batch. The setup activities are incurred every time a production changeover occurs, and it can't be avoided. In manufacturing, the time and cost required to set up a machine for production are critical factors. A quicker setup time means that more items can be produced during a single production run, which increases productivity and decreases costs. Companies may lose money when they have many setup activities since they take a significant amount of time and resources to complete. Therefore, companies strive to streamline and reduce setup times by optimising setup activities to improve productivity and reduce costs.
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the auditors are concerned about source documents that reflect valid transactions that have not been recorded in the journals. which procedure would be most effective?]
Bank reconciliations and reviews of financial documents are the most effective procedures for assessing the accuracy and validity of source documents that reflect valid transactions that have not been recorded in the journals.
Source documents are a key component of any accounting system, as they provide evidence of valid transactions. Auditors are usually concerned about source documents that reflect valid transactions that have not been recorded in the journals because it could indicate a possible misstatement or error.
The most effective procedure to assess the accuracy and validity of these transactions is to perform a bank reconciliation. During this process, the auditor compares the balances in the client’s bank statements with the bank balances in the general ledger. This comparison will allow the auditor to identify any differences in the bank balances that could potentially be caused by unrecorded transactions. The auditor can then make further inquiries to determine the accuracy and validity of these transactions.
In addition, the auditor should also review the client’s financial records and documents to make sure that all relevant information has been included and recorded accurately. This includes reviewing any supporting documents for each transaction such as receipts, invoices, and bills. Furthermore, the auditor should make sure that the client has established adequate internal controls to ensure accuracy and prevent any fraud.
Overall, bank reconciliations and reviews of financial documents are the most effective procedures for assessing the accuracy and validity of source documents that reflect valid transactions that have not been recorded in the journals.
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would you rather want to take a tax deduction or a tax credit? why?
When it comes to tax deduction or a tax credit, it depends on your financial and tax situation.
A tax deduction reduces your taxable income, whereas a tax credit reduces your tax bill by a certain amount. Tax deductions and tax credits are different in many ways. Tax credits offer a dollar-for-dollar decrease in your tax bill. Tax deductions reduce your taxable income by a certain percentage, which in turn lowers your tax bill.
Tax deductions are normally worth less than tax credits, but they can still save you money. You can use tax deductions to lower your tax bill, but you can't use tax credits to reduce your taxable income. If you have a low income, tax credits can be more beneficial than tax deductions. A tax credit is a reduction in the amount of income tax you have to pay, while a tax deduction lowers your taxable income by a specific amount.
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an ethical mistake is defined as . group of answer choices an act that has immoral intent something that violates a company's code of ethics an illegal act that results in criminal prosecution a decision or action that is unintentionally unethical and that the individual or group later regrets and wishes they could somehow undo
An ethical mistake is defined as a decision or action that is unintentionally unethical and that the individual or group later regrets and wishes they could somehow undo.
An act that has immoral intent or something that violates a company's code of ethics may be considered unethical, but they do not necessarily qualify as ethical mistakes. Likewise, an illegal act that results in criminal prosecution is not an ethical mistake unless it was done unintentionally or without full knowledge of its ethical implications.
Ethical mistakes can occur in any area of life, from personal relationships to business decisions. Some common examples of ethical mistakes include lying or exaggerating the truth to make oneself look better, failing to respect the privacy or autonomy of others, or making decisions that prioritize short-term gains over long-term consequences.
In most cases, ethical mistakes are not intentional and are caused by a lack of awareness or understanding of ethical principles. To avoid making ethical mistakes, individuals and groups should take the time to educate themselves about ethical principles and consider the potential consequences of their actions.
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the japan airlines ceo's behavior has been unordinary according to usual industry practices. he doesn't have a corporate jet, as many ceo's do. he also knocked down his office walls and takes a bus to work. what device is haruka nishimatsu trying to exemplify and mold? a.work ethic b.corporate governance c.environmental awareness d.organizational culture
d. organizational culture. Former Japan Airlines CEO Haruka Nishimatsu has a distinct set of principles that represent his vision for the company's culture. His actions, which are contrary to industry norms,
an attempt to shape the company's organizational culture. Nishimatsu's choice to forego a corporate jet, break down his office walls, and go by bus demonstrates his devotion to environmental awareness and a straightforward work ethic. Nishimatsu promotes the principle of austerity and humility throughout the organization by rejecting the opulent lifestyle that is commonly associated with corporate leadership. This leadership style is likely to have a favorable influence on employees' general work ethic and productivity. Additionally, Nishimatsu's efforts show a dedication to corporate responsibility.
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Prepare a Statement of Fiduciary Net Position for the Employees’ Retirement Fund as of June 30, 2020
The Employees' Retirement Fund of Sweetwater had assets of $6,751,000 and liabilities of $944,000 as of June 30, 2020. It earned $1,435,000 in investment income and paid out $890,000 in benefits. The fund purchased $780,000 in new investments and realized a $42,000 loss on its stocks.
Based on the information provided, the Statement of Fiduciary Net Position for the City of Sweetwater Employees' Retirement Fund as of June 30, 2020 is
City of Sweetwater Employees' Retirement Fund Statement of Fiduciary Net Position As of June 30, 2020
Assets:
Cash $ 461,000
Accrued Interest Receivable 45,000
Investments, at Fair Value:
Bonds 4,528,000
Common Stocks 1,080,000
Total Assets 6,114,000
Liabilities:
Accounts Payable and Accrued Expenses -0-
Fiduciary Net Position Restricted for Pensions $6,114,000
Changes in Fiduciary Net Position for the Year Ended June 30, 2020:
Additions:
Contributions:
Member contributions $ 275,000
City's General Fund contributions 800,000
Investment Income:
Interest Income 280,000
Dividends 40,000
Total Additions 1,395,000
Deductions:
Benefit payments:
Annuity benefits 730,000
Disability benefits 160,000
Refunds to terminated, nonvested participants 79,000
Administrative expenses -0-
Total Deductions 969,000
Net Increase 426,000
Fiduciary Net Position Restricted for Pensions, July 1, 2019 5,635,000
Fiduciary Net Position Restricted for Pensions, June 30, 2020 $6,061,000.
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_____The given question is incomplete, the complete question is given below:
The City of Sweetwater maintains an Employees’ Retirement Fund, a single-employer defined benefit plan that provides annuity and disability benefits. The fund is financed by actuarially determined contributions from the city’s General Fund and by contributions from employees. Administration of the retirement fund is handled by General Fund employees, and the retirement fund does not bear any administrative expenses. The Statement of Fiduciary Net Position for the Employees’ Retirement Fund as of July 1, 2019, is below stated: CITY OF SWEETWATER Employees’ Retirement Fund Statement of Fiduciary Net Position As of July 1, 2019 Assets Cash $ 130,000 Accrued Interest Receivable 55,000 Investments, at Fair Value: Bonds 4,500,000 Common Stocks 1,300,000 Total Assets 5,985,000 Liabilities Accounts Payable and Accrued Expenses 350,000 Fiduciary Net Position Restricted for Pensions $5,635,000 During the year ended June 30, 2020, the following transactions occurred: The interest receivable on investments was collected in cash. Member contributions in the amount of $275,000 were received in cash. The city’s General Fund also contributed $800,000 in cash. Annuity benefits of $730,000 and disability benefits of $160,000 were recorded as liabilities. Accounts payable and accrued expenses in the amount of $950,000 were paid in cash. Interest income of $235,000 and dividends in the amount of $40,000 were received in cash. In addition, bond interest income of $45,000 was accrued at year-end. Refunds of $79,000 were made in cash to terminated, nonvested participants. Common stocks, carried at a fair value of $500,000, were sold for $475,000. That $475,000, plus an additional $305,000, was invested in stocks. At year-end, it was determined that the fair value of stocks held by the pension plan had decreased by $42,000; the fair value of bonds had increased by $33,000. Nominal accounts for the year were closed. Required: Prepare a Statement of Fiduciary Net Position for the Employees’ Retirement Fund as of June 30, 2020.