a review of the accounting records of solomon manufacturing indicated that the company incurred the following payroll costs during the month of march. assume the company's financial statements are prepared in accordance with gaap. salary of the company president—$31,000. salary of the vice president of manufacturing—$16,200. salary of the chief financial officer—$19,600. salary of the vice president of marketing—$15,200. salaries of middle managers (department heads, production supervisors) in manufacturing plant—$199,000. wages of production workers—$931,000. salaries of administrative personnel—$110,000. salaries of engineers and other personnel responsible for maintaining production equipment—$173,000. commissions paid to sales staff—$259,000.
Answers
Part A: Selling, general, and administrative expenses are those that are not directly related to the sale of each product. In other words, these expenditures are not included in COGS.
When an SG&A cost is deemed a direct cost, it is allowed to classify the cost as cost of goods sold on the income statement.
It is also allowed in the provided Question to shift commission paid to sales employees to COGS because it may be directly tied to product sale. The attached payroll expenses X would be classed as SG&A. Hence the total SG&A cost is $ 434,800.
Part B: Payroll Costs that are classified as Cost of Goods Sold
COGS are the costs involved in the process of manufacturing or producing products.
It covers direct labor expenses of employees who manufacture the items as well as manufacturing overhead, which are expenditures associated with producing the commodities. Hence, the Payroll Costs that are included in the cost of goods sold are: $ 1, 319, 200
For computation see the attached image.
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Related Questions
starbucks has $1 billion to invest. it can either purchase a rival coffee shop chain or build additional starbucks shops. if starbucks chooses to purchase the rival chain, we can conclude that starbucks' management team determined that the relative profitability of purchasing and owning the rival's existing shops is (click to select) the expected profitability of using the money to build additional starbucks shops.
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The management team of Starbucks' have determined that the relative profitability of purchasing and owning the rival's existing shops is greater than the expected profitability of using the money to build additional Starbucks shops.
What is the relative profitability?The main aim of most organisations excluding not for profit organisations is to make profit. Profit can be earned either by reducing cost or by increasing revenue.
If it is determined that purchasing the existing shops of rivals would be cheaper than building new shops, management would decide to purchase existing rivals' shops.
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the u.s. department of agriculture predicted that the quantity of oranges produced would be 21% lower than the previous year. if the price elasticity of demand for oranges is -1.5, what impact would hurricane irma have on the price of oranges?
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The price elasticity the impact would hurricane Irma have on the price of oranges is a change in price is 16.15%.
Elasticity is, the capability of a deformed fabric frame to go back to its authentic form and length whilst the forces causing the deformation are eliminated. A frame with this ability is said to behave (or reply) elastically.
Elasticity is, the ability of a deformed cloth body to go back to its original shape and length whilst the forces causing the deformation is eliminated. A frame with this capability is said to act (or reply) elastically.
Elasticity is a monetary degree of how touchy one monetary component is to changes in every other. as an example, changes in supply or call for the exchange in price, or adjustments in demand to modifications in earnings.
The price elasticity of demand is calculated as the % change in quantity demanded divided by a % change in price.
As per the information provided in a question
price elasticity =-1.3
% change in quantity = 21%
% change in price=?
therefore -1.3= 21%/ % change price
% change in price= 21/-1.3
=16.15%
% change in price= 16.15%
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milton friedman's standard for business social responsibility is one that requires a company to do all that it can for its community. group of answer choices true false
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False-Milton Friedman's standard for business social responsibility is one that requires a company to do all that it can for its community.
What is business ?Making a living or earning money via the production, acquisition, and sale of items is known as business (such as goods and services). "Any activity or enterprise undertaken into for profit" is also included.
Having a business name does not make the owner of the business any less responsible for obligations that the business incurs. If the company accrues debts, the creditors may seize the owner's personal belongings. Corporate tax rates cannot be used in a business structure. All business profits are subject to personal taxation for the proprietor.
The phrase is frequently used informally to refer to a business, such as a corporation or cooperative (but not by lawyers or government authorities).
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a colleague from the plant in germany has arrived at the chicago plant to share insights on a recent product line changeover implemented in germany. this c
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The barriers that have been identified here are:
Psychological barriersNonverbal distractionFaking attentionWhat are the barriers?The barriers can be seen in the fact that James is not really listening to this colleague as he makes his speech,. Instead he is more concerned on things like his dress sense.
A better way to get him to listen would be:
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Complete quesation
A colleague from the plant in Germany has arrived at the Chicago plant to share insights on a recent product line changeover implemented in Germany. This changeover has saved thousands of euros at the German facility, but Jim does not think it will work in the United States. Jim feels that there is a completely different attitude towards work and innovation in the U.S., and in fact, thinks the German facility is technologically behind his plant. Additionally, the colleague often mispronounces words when he speaks English, and doesn't dress appropriately for the U.S. office. He showed up to work on the plant floor in a formal suit and tie, with dress shoes that had a slippery sole. However, the colleague is a guest, and it is important that Jim pretends to be interested.
Identify the listening barriers. Check all that apply.
Psychological barriers
Thought speed
Grandstanding
Nonverbal distractions
Faking attention
Identify tips that would help Jim listen more effectively to what his international colleague has to say about the production process. Check all that apply.
Control his surroundings
Provide feedback
Focus on nonverbal signals
a study by university of minnesota economist, joel waldfogel, estimated the difference in the actual monetary value of gifts received and how much the recipients would have been willing to pay to buy them on their own. the study suggested that the average recipient’s valuation was approximately 90% of the actual purchase price.
Answers
The deadweight loss is $90.6.
How to calculate the loss?The study suggested that the average recipient's valuation of the gift received was approximately 90% of the actual purchase price of the gift.
This means there's a loss of 10% in value constitute the deadweight loss.
Average amount spent on gift = $906
Percentage loss in value = 10% or 0.10
Calculate the deadweight loss -
= Average amount spent on gifts * Percentage loss in value
DWL = $906 * 0.10
The deadweight loss would be $90.6.
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A study by university of minnesota economist, joel waldfogel, estimated the difference in the actual monetary value of gifts received and how much the recipients would have been willing to pay to buy them on their own. the study suggested that the average recipient’s valuation was approximately 90% of the actual purchase price.
Calculate the deadweight loss if the average amount is $906.
abc corp has a larger debit balance than credit balance under assets. if the accounting equations must always be in balance, why would this occur?
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ABC corp has larger debit stability than credit score balance underneath belongings. if the accounting equations need to always be in balance, debits growth the left facet of the balance sheet and accounting equation, even as credits grow the proper aspect.
Accounting is the procedure of recording monetary transactions touching on a business. The accounting technique includes summarizing, analyzing, and reporting these transactions to oversight companies, regulators, and tax collection entities. the machine for recording and summarizing business and financial transactions and reading, verifying, and reporting the results. also: the principles and procedures of this system. studied accounting as a freshman. : paintings are done in accounting or by accountants.
Accounting, additionally called accountancy, is the measurement, processing, and communication of economic and nonfinancial records approximately economic entities inclusive of companies and groups. Accounting performs an important position in walking an enterprise as it enables you to song income and costs, make sure statutory compliance, and provide investors, management, and authorities with quantitative monetary statistics which may be used in making enterprise decisions.
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choose the best answer to fill in the blank: supply is the and the willingness to produce and sell specific quantities of a good or service at different prices in a specific time period, all things remaining the same.
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Supply is the ability and the willingness to produce and sell specific quantities of a good or service at different prices in a specific time period, all things remaining the same. Ability is the talent, skill, or proficiency in a particular area.
What is supply..?"Supply is known to be the amount of goods (products) and services which a producer is willing and able to supply to the market at various prices over a specified period of time. Thus, producers tend to produce and supply more goods (products) and services as the prices go higher in order to get more profits and revenue."
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when the incentives of employees are not aligned with the goals of the company what potential problems could be caused by goal misalignment ? suggest strategies that would address those problems.
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One of the most important aspects of engagement is aligning employees with organizational goals. I need to know about employee placement.
Employee Integrity means a little different thing to different people. At the most basic level, a federated organization is an organization where everyone is on the same page. But most people go further to see how well employees understand their place in the company and how they contribute to broader goals.
Problems related to IT service management are problems that can lead to incidents. Incidents are events that must be addressed, or at least addressed with workarounds, to ensure that affected or potentially affected systems continue to function properly.
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one of the most significant principles of business is that the primary objective of the executive management of a corporate entity is to engage in strategic actions that increase shareholder value.
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Economic dimension is the most significant principles of business
The economic component deals with all of the event firm's and the specific event's economic outputs and externalities. Event researchers are very interested in measuring values that vary from the simpler indirect benefits to the more difficult direct economic repercussions on the host community and the global economy. In the Baseline Evaluation, the organizational processes that have an impact on these values are examined.
Direct effects include observable values like money made from tourism revenues and employment created by the event's organizer. The necessity for a research-based approach to event evaluation is supported by the frequently contested nature of indirect impacts. Measurements of the catalytic or multiplier effects pertinent to the larger region hosting an event are among them.
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to attend a winter concert presented by the community chorus, every attendee was asked to donate one unwrapped toy at the concert hall door. the donation is most closely related to the element of the marketing mix.
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In the given statement the Pricing is the element of the marketing mix.
Pricing is one of the four main principal components of the marketing mix. It is the main income producing component in the marketing mix. It is firmly connected to the plan of action.
Pricing ought to achieve three objectives:
Accomplish the organization's monetary objectives
Fit inside the real factors of the commercial center
Support an item's situating and be predictable with different factors in the showcasing blend.
The plan of action is a reasonable portrayal of the organization's income streams. Any massive changes in the price will influence the suitability of a specific plan of action.
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What is product positioning?
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Answer:
Product positioning is the process of deciding and communicating how you want your market to think and feel about your product.
Explanation:
When a product is positioned, it means that its target market's perception of it has been ascertained and communicated. It entails identifying the special qualities and advantages of the product and differentiating it from rivals.
A strategic exercise called "product positioning" seeks to explain how a product fits into the market and why it is superior to complete products. It aids companies in developing a strong and distinctive market position for their goods, which ultimately promotes client preference and loyalty.
Understanding the customer's issue and demonstrating how your product can address it more effectively than rivals are part of this.
As a result, the significance of the product positioning are the aforementioned.
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What does it mean to follow ethical principles?
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desert corporation reports the following information: correction of understatement of depreciation expense in prior years, net of tax645,000 dividends declared480,000 net income1,500,000 retained earnings, jan 1, 20x1, as reported6,000,000 desert should report retained earnings, jan 1, 20x1, as adjusted at group of answer choices $5,355,000 $6,000,000 $6,645,000 $7,665,000
Answers
Moormoon correction of understatement of depreciation expense in prior years, net of tax645,000 dividends declared480,000 net income1,500,000 retained earnings, jan 1, 20x1, as reported3,000,000 desert should report retained earnings is $3,375,000.
Retained earnings is an equity account that accumulates the profits generated via the entity and the give up of the accounting cycle. it is elevated by using the amount of income generated for the 12 months and any understatement in retained profits in the earlier yr. it's miles reduced with the aid of affirming dividends and any overstatement in retained income inside the earlier 12 months.
Retained profits are the number of earnings an organization has left over after paying all its direct fees, indirect prices, income taxes, and dividends to shareholders. This represents the portion of the enterprise's equity that may be used, for instance, to put money into a new device R&D, and advertising. Retained income is an accumulation of a business enterprise's net earnings and internet losses over all the years the business has been operating.
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when the fed increases the money supply, short-term interest rates tend to decline. when the economy is weakening, the fed is likely to increase short-term interest rates. foreign investments fuel growth in a country. however, this investment is based on factors that affect the business environment and increase riskiness, such as macroeconomic policies, political changes, labor issues, tax rates, and regulations. when the economy is weakening, the fed is likely to decrease short-term interest rates.
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Statement 1: This statement is untrue because inflation would rise if the Fed injected a large amount of money into the economy.
Statement 2 is accurate because foreign investment in the economy is highly erratic and depends on a number of variables.
Statement 3 is accurate since a stronger national balance sheet makes credit easier to get, which lowers interest rates.
Statement 4: This statement is accurate because the Fed lowers short-term interest rates to boost credit growth, which is necessary to fuel economic expansion.
What do short and long-term interest rates mean?The interest rate levied on a short-term loan is known as the short-term interest rate. The interest rate levied on a debt with a long period is known as the long-term interest rate. The time it takes to repay the loan is the main distinction between a short-term interest rate and a long-term interest rate.
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given that jacob's chocolates had owner investments of $4,000; net income during the period of $10,000; and owner withdrawals of $300 calculate the ending balance in the owner's capital account.
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Based on the owner investments, the net income and the owner withdrawals, the ending balance in the owner's capital account for Jacob's Chocolates is $13,700
What is the ending balance in owner's capital?The ending balance in the owner's capital can be found by the formula:
= Beginning owner investments + Net income during the period - Owner withdrawals
This is because net income increases the capital account but any withdrawals by the owner decreases it.
Solving for the ending balance gives:
= 4,000 + 10,000 - 300
= 14,000 - 300
= $13,700
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what is the present value of the following cash flow stream at a rate of 10.0%? years: 0 1 2 3 cfs: $750 $2,450 $3,175 $4,400
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The present value of the given cash flow stream at a rate of 10.0% for all the years that is from year zero to year three is $10,777.50. Hence, Option B is correct.
What is a cash flow stream?For describing any business proposal, there are very specific requirements, but the two things that are majorly required are cash flow instances and cash flow stream.
A cash flow stream is basically a kind of specific amount that sometimes flows into or sometimes flows out of an organization. It is basically for a particular time period, which can be calculated with the help of some proposal.
Therefore, the given data after doing these required calculations when the cash flow is calculated at a rate of 10.0%, the amount is $10,777.50. Option B is correct.
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The complete question is attached in text form:
What is the present value of the following cash flow stream at a rate of 10.0%?
Years: CFs:
0 $750
1 $2,450
2 $3,175
3 $4,400
a. $8,283.53
b. $10,777.50
c. $10,866.57
d. $7,749.11
e. $8,907.02
jacob owns a policy that pays a death benefit only if he dies within the 20-year policy period. if jacob dies anytime that the policy is in force, his beneficiary will receive $100,000. the premium that jacob pays for this policy will be the same throughout the 20-year policy period. jacob owns:
Answers
Jacob owns a policy that pays a death benefit only if he dies within the 20-year policy period. if jacob dies anytime that the policy is in force, his beneficiary will receive $100,000. the premium that jacob pays for this policy will be the same throughout the 20-year policy period. jacob owns A level term policy.
A purposeful set of rules designed to direct behavior and produce logical results is called a policy. A policy is a declaration of intent that is carried out through a method or protocol. Typically, a governance board inside a company adopts policies. Both subjective and objective decision-making can benefit from policies.
A government or other institution's policy may be a legislation, rule, process, administrative decision, inducement, or voluntary practice. Resource allocations frequently reflect policy decisions. Policies in many different industries can affect health.
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as the industrial revolution came to the united states, most firms operated in a(n) orientation. a. evolutionary b. societal c. sales d. market e. production
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As the industrial revolution came to the united states, most firms operated in a production orientation. The United States' transition to new industrial techniques between around 1760 and some time between 1820 and 1840 is known as the Industrial Revolution.
This transition encompassed the switch from manual to mechanical production methods, the invention of new ways for producing chemicals and iron, the expansion of steam and water power, the creation of machine tools, and the growth of the mechanized factory system. As a result of the significant increase in output, both the population and the pace of population growth saw previously unheard-of increases during industrial revolution.
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ethan allen interiors inc is a leading manufacturer and retailer of furniture and home decorating accessories
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Ethan Allen Interiors, Inc. is a main producer and retailer of fixtures and home decorating accessories. Its organization-owned operations include direct materials.
These home decorating accessories as curtains, couch units, cushions, tablecloths, decorative craft products, decorative wrought iron, and so on. those gadgets are commonly utilized in indoor furnishings and formats and might consist of cloth items, paintings, and vegetation.
ornamental accents are a terrific way to add style and beauty to your own home. They may be utilized in any room of the residence, from the living place or bedroom to the toilet and kitchen. From sconces on the wall to candles for the environment, ornamental accents beautify every space with their splendor.
Decorating accessories method any disposable product (i.e., product for unmarried or confined time use) or software which, at the same time as no longer itself a PATENT PRODUCT, is TRANSFERRED to be used along with a PATENT PRODUCT or performance of a PATENT method.
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choose the response that accurately completes the following sentence. claiming the child and dependent care credit is not allowed for taxpayers who:
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The statement "Lived with their spouse for the entire year, but will file a separate return?" is the accurate response.
If you paid for the care of a qualifying person so that you (and your spouse, if filing a joint return) could work or actively hunt for work, you might be eligible to claim the child and dependent care credit. In general, if you are married filing separately, you cannot claim this benefit.
You're not qualified for the child and dependent care credit, why?
Child and dependent care expenses had to have been spent for care to be provided so that you (or you and your spouse, if filing jointly) could work or look for work in order to qualify for the credit. You often cannot claim the credit if neither spouse has "earned income" (W-2s, company revenue, etc.).
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is the relative ease and speed with which an asset can be converted into a medium of exchange. quilet
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Liquidity is the relative ease and speed with which an asset can be converted into a medium of exchange. Thus the correct option is B.
What is Asset?An asset is regarded as a resource of the company that will be economically valuable in the future and helps with the efficient administration of company operations.
Liquidity is the relative ease and speed with which an asset can be converted into a medium of exchange. Assets like cash and accounts receivable are regarded as being more liquid than stock and infrastructure.
Therefore, option B is appropriate.
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The incomplete question is
________ is the relative ease and speed with which an asset can be converted into a medium of exchange.
A) Efficiency
B) Liquidity
C) Deflation
D) Specialization
determine the fixed cost given the following information highest level of activity 850 units 5100 lowest 220 1950
Answers
Determine the fixed cost given the following information highest level of activity is $ 200.
If you are trying to get more full of life along with your exercise, strive for swimming laps, walking, or jumping rope. playing singles tennis or cycling quicker than 10 miles per hour additionally qualifies as an excessive-depth pastime. An excessive-stage assessment is one that does not cowl information. It provides a very fundamental and well-known rationalization or presentation of the cloth subject.
In case you're up in a plane, what you spot are only the massive matters, you've got a perspective from an excessive stage. moderate depth sports are described as activities ranging between 3 - 6 METS. these activities require more oxygen consumption than light activities. some examples of slight physical activities consist of: sweeping the floor, on foot briskly, gradual dancing, vacuuming, washing windows, and taking pictures of a basketball. Creativity is the best stage of information. someone who can create new expertise is equipped with present information on a subject.
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10.0% complete question one aspect of threat modeling is to identify potential threat actors and the risks associated with each one. when assessing the risk that any one type of threat actor poses to an organization, what are the critical factors to profile?
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When assessing the risk that any one type of threat actor poses to an organization, then the most critical factors to the profile are the intent and motivation.
What is the significance of threat modeling?Threat modeling refers to the process that works to identify, communicate, and understand the threats and mitigations that may impact a particular system or network.
Threat modelling plays a very significant role as it reduces the risk exposure by minimizing and mitigating vulnerabilities.
Basically, threat modeling is a systematic and structured process that helps to identify the security requirements of a system or process.
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X
8 minutes remaining
crazy
Question 14
3 OF 15 QUESTIONS REMAINING
Question 14
1 Point
means that, given the available inputs and technology, it is impossible to produce more of one good without
decreasing the quantity that is produced of another good.
(A) Allocative efficiency
(B) Productive efficiency
(C) Opportunity cost
(D) The law of diminishing returns
1 Point
Las
Answers
Answer:
c. opportunity cost
Explanation:
because when the price of quantity increase
clara is the ceo of an online retail store. her business saw a 40 percent increase in profits in the current year owing to her instant adaptation to current and upcoming trends. this shows that:
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Given that Clara is the CEO of an online retail store. her business saw a 40 percent increase in profits in the current year owing to her instant adaptation to current and upcoming trends. this shows that Clara is a flexible leader.
Who is a flexible leader?This is the term that is used to refer to the type of leader that is able to have a modification of their style and their approach so as to make it suitable to the unpredicted circumstances and other forms of uncertainties that may arise in the environment.
Such a leader is one that has the ability of trying to make revisions to what is already in existent in order to incorporate new things. This is the type of leader that Clara is showing herself to be because she is said to be adapting instantly to new and upcoming trends.
Hence we would conclude by saying that Given that Clara is the CEO of an online retail store. her business saw a 40 percent increase in profits in the current year owing to her instant adaptation to current and upcoming trends. this shows that Clara is a flexible leader.
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methodologies emerged out of frustration with using traditional project management processes to develop software.
Answers
Agile Project Management emerged out of frustration with using traditional project management processes to develop software.
What is Agile Project Management?Throughout a project's life cycle, agile project management is an iterative delivery method.
The several iterations or incremental phases that go into finishing a project make up iterative or agile life cycles. Since the benefit of iteration is that you may make adjustments as you go along rather than following a linear path, iterative approaches are widely employed in software development projects to promote velocities and adaptability.
Rather than releasing advantages solely at the conclusion of the process, an agile or iterative method releases them periodically. Agile initiatives should, at their heart, demonstrate the fundamental beliefs and conduct of cooperation, trust, and adaptability.
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classify the economic factors according to whether or not they encourage investment and economic growth in a country.
Answers
Economic factors based on whether they encourage investment and economic growth in a country include:
Encourage economic growth:
Property rights Competitive markets Dependable legal systemDiscourage economic growth:
Corrupt government Political instability Trade restrictions What leads to economic growth?When there are property rights in an economy, people are more likely to invest in the economy because they can own things that will bring profit. Competitive markets ensure that efficiency is the order of the day which leads to more growth and a dependable legal system gives investors confidence.
Corrupt governments on the other hand will not inspire confidence in investors because such nations are risky. Especially the nations that have political instability. Trade restrictions also discourage economic growth as they make it difficult to trade and get better goods.
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all of the following are examples of environmental actors in an information system except: group of answer choices sales force. competitors. customers. regulatory agencies. suppliers.
Answers
All of the following are the actors that exists in the information systems except the sales force.
What is meant by environmental actors?The environmental actors are the people or the forces that would have the roles that they have to play in the business. They are the ones that have to act as the business actors in the demand and supply and other forms of distribution in an economy.
The actors are the players that are in the business that they organization and the business are going to interact with. These are the people such as the customers, the suppliers, the shareholder, the competitors and other forces. The action of the environmental actors keeps businesses alive and are of crucial importance to any economy.
Hence we can say that All of the following are the actors that exists in the information systems except the sales force.
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following is selected financial information of kia company for the current year ended december 31. cash used by investing activities $ (3,000) net increase in cash 750 cash used by financing activities (3,800) cash from operating activities 7,550 cash, december 31, prior year 3,500 required: prepare the statement of cash flows for kia company for the current year ended december 31. (cash outflows should be indicated with a minus sign.)
Answers
After making the cash flow statements for the year ended December 31, the Kia company's financial positions show a net increase in its cash by $750.
What is the significance of cash flow statements?Cash flow statements can be referred to or considered as the statements that show the increase or decrease in the cash reserves of a company after making the inflows and outflows throughout the financial period, as the case may be.
Therefore, the significance regarding the cash flow statements for the above situation of the yea ended December 31, has been aforementioned.
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The cash flow statements have been attached as an image for better reference.
a company that seeks to provide free bikes to underprivileged kids might put flyers in bike stores, asking for customers to donate their old bikes. this is an example of . select one: a. bribery b. fundraising c. non-profit marketing d. for-profit marketing
Answers
A company that seeks to provide free bikes to underprivileged kids might put flyers in bike stores, asking for customers to donate their old bikes. this is an example of Non profit marketing.
A promotional pricing strategy is one of the best ways to generate quick demand for your products or services. In most cases, promo pricing is confined to a tight time frame, creating a sense of urgency and giving the impression that consumers will be missing out if they don't buy soon. A marketing plan is a document that lays out the marketing efforts of a business in an upcoming period which is usually a year.
It outlines the marketing strategy promotional and advertising activities planned for the period . A good place to start is by defining your marketing mix which includes the four Ps Product Price, Place and Promotion. Your marketing strategy will also identify your target audience. This is a smart way for a small business on a limited budget to focus its marketing efforts.
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