This statement is True.
When an account is closed, the balance in the revenue account is moved to the retained profits account, leaving the revenue account with a zero ending balance. The beginning balance for a revenue account will also be 0 because the ending balance from the previous period becomes the beginning balance for the subsequent period.
What is a Revenue Account?The assets made by a company's operations and business activities are its revenues. To put it another way, revenues comprise the money or receivables a business receives from the sale of its products or services.
The income account has a credit balance and is an equity account. Therefore, a credit to the revenue T-account results in a rise in the account balance. The enlarged accounting equation demonstrates how revenues raise equity. Because revenues or income are often only created, unlike other accounts, revenue accounts are rarely debited. A business rarely has its income taken away.
Only when items are returned and sales are refunded does the revenue account get deducted. The original sale is voided in this situation, so the recorded sale must be reversed.
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arrange the steps that follow the first step in the organizational buying process in the correct order of occurrence
The Required steps are as follows
Problem identificationinformation search, assessment of options, purchase choice, post-buy evaluation makes up the five phases.This is further explained below.
What is Problem identification?Generally, The process of clearly identifying the underlying source of an issue is what is meant by "problem identification."
the process of developing a thorough issue statement that includes the impact that the problem has on the health of a population.
After a variety of possibilities have been uncovered, a methodical procedure needs to be implemented in order to evaluate those options, at which point one should go from a larger list of options to a reduced list of options, and, lastly, to an option that is favored.
The process through which a company or other organization acquires the products or services it needs to meet its objectives is known as purchasing.
Even though there are various organizations that make an effort to provide standards for the buying process, individual firms' procedures might be quite different from one another.
In conclusion,
Problem identificationinformation search, assessment of options, purchase choice, post-buy evaluation makes up the five phases.Read more about Problem identification
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Which best describes a scholarship?
Hey!
A scholarship is an aid given to a student by an institution. A scholarship is the financial help provided by the institution to a student. These are a means of help to the students to encourage in further studies and researches. Financial aids and awards are given to the students who qualify the criteria. Some disabled individuals, disabled parents with children, or people who can't afford any other extra activities or advancements. Scholarship is an encouraging effort taken by the institution or government to help the students engage more on academic fields. Monetary awards and waving off the fees are the two ways by which scholarships are provided. Some people may recieve scholoships for dance or any sport, career wise, military, and many more. This is a very helpful tool for many people.
Hope this helps! Have a great day! :)
Answer: A financial award that does not need to be paid back.
Explanation:
chloe receives her first paycheck for working as a pretzel vendor. to which of the arrows does this transaction directly contribute?
The arrows show how Chloe's first earnings from her job as a pretzel vendor will directly benefit C and D.
The correct option is B.
What exactly is a business transaction?An executed contract between a seller and a buyer to exchange goods, services, or financial assets in exchange for money is known as a transaction. The phrase is also frequently used in business accounting.
What does an accounting transaction mean?Any financial business event that has an impact on a company's financial statements is referred to as a transaction in accounting. Numerous items arrear numerous items that are transactions because transactions include occurrence that has a monetary impact on one's financial records.
What sort of transaction is that?These four types of financial transactions are:
A. sales
B. purchases,
C . receipts,
D. payments.
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Chloe receives her first paycheck for working as a pretzel vendor. To which of the arrows does this transaction directly contribute?
A. A only
B. C and D
C. C only
D. A and B
bermeo, sarah blodgett. "aid allocation and targeted development in an increasingly connected world." international organization, vol. 71, no. 4, 2017, pp. 735–66
Answer:djewew
Explanation:
the owner occupies a portion of the building after the architect has deemed the project is substantially complete. the owner notices a hole in the wall that wasn't noted on the architect's punch list. who is responsible for fixing the issue?
The proprietor occupies a portion of the building after the architect has deemed the undertaking is considered whole. the proprietor notices a hollow within the wall that wasn't stated on the architect's punch list. final crowning glory occurs after the architect has tested the completion of the challenge. they'll perform a final inspection to verify the paintings. income, condo, losses of use, and financing is chargeable for fixing the issue.
An architect is someone who plans, designs and oversees the development of buildings. To practice architecture means to provide services in reference to the layout of buildings and the distance within the web page surrounding the buildings that have human occupancy or use as their predominant cause.
Architects create designs for new creation initiatives, changes, and redevelopments. They use their expert creation understanding and high-level drawing talents to lay out homes that can be functional, secure, sustainable, and aesthetically captivating. Doing an architecture diploma may be hugely worthwhile. but it's also most of the most challenging – with lengthy hours, a large workload, and awareness of detail – so it's vital to understand what you are letting yourself in for.
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john is employed in an american manufacturer of health care products and is currently working with some japanese cients
John is employed by an American manufacturer of health care products and is currently working with some Japanese clients as a cross-cultural risk.
Definition a manufacturer is a commercial enterprise or person that produces goods. The agency that makes a specific emblem of sneakers is an example of a manufacturer of footwear.
As such, synthetic goods are the alternative to number one items but encompass intermediate goods in addition to very last goods. They include steel, chemical substances, paper, textiles, equipment, garb, cars, and so on.
The USA's other top manufacturered products are prescribed drugs, airplanes, and motors. Rounding out the pinnacle 10 are iron and metallic, animal slaughtering, plastics, natural chemical compounds, and petrochemicals.
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who of the following provides approval for a project? key decision makers individuals with sign-off authority the project manager all stakeholders
The project manager Individual with sign-off authority. The project sponsor has ultimate support authority.
Who provides approval for a project?Who the Project Sponsor is: Usually an aged member from the business area in which the project is asked, with a deep understanding of that area's operations and strategic aims. The Project Sponsor has the administration approve budgets and resource requests within their business area.
What stakeholder is liable and accountable for the project scope?Who the project executive is: Provides project administration, confirms the demand within their area of responsibility, validates goals, goals, and resources, and is accountable for the overall delivery of the project.
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Defining the problem and research objectives is the __________ step in the marketing research process.
Defining the problem and research objectives is the first step in the marketing research process.
What is marketing research process?The marketing research process can be described as the six-step process which entails how the problem of the research is been defined as well as how it is being studied.
After this , the best upon, approach to take, formulation of research design, will now followed, in this case we can conclude that Defining the problem and research objectives is the first step in the marketing research process.
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If consumers view cappuccinos and lattés as substitutes, what would happen to the equilibrium price and quantity of lattés if the price of cappuccinos rises?.
If consumers view cappuccinos and lattés as substitutes, the equilibrium price and quantity would decrease if the price of cappuccinos rises.
In economics, the concept of equilibrium can be used to determine market stability. At this point, neither the buyer nor the seller wishes to deviate from their respective consumption and production points.
In economics, substitute goods are those types of goods that may be used place of one another. As a result, as the cost of a substitute good rises, so does demand for the original good, causing both the equilibrium price and quantity to rise.
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ivan, a russian fisherman, needs a permit to fish and sell a certain type of fish, the yellow perch. select the term that best fits the scenario. quota price ceiling black market license price floor
Ivan, a Russian fisherman, needs a permit to fish and sell a certain type of fish, the yellow perch is a market license.
License approach permission to do something, mainly formal permission from a central authority or other authority. The phrase frequently refers back to the proof of that permission, including a card or certificate.
A license is reputable permission or permits to do, use, or personal something. A license is granted by using a celebration to some other birthday party as a detail of a settlement among the one's parties. within the case of a license issued by a government, the license is acquired through applying for it.
In American English, the noun is spelled the same as the verb—license. however, in British English, the noun is spelled license. all the while, that means stays the same—permission, a allow a document that states you are certified or allowed to do something.
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independently owned and managed stores sign an agreement to use the same name, participate in chain promotions, and cooperate as a unified system.
Independently owned and operated stores that are a member of a wholesaler-sponsored chain have agreed to use the same name, take part in chain promotions, and work together as a single system.
Unlike corporate chains, these are associations of individual retailers. In many nations, voluntary networks of retailers that participate in collective merchandising and bulk purchasing are common. Any retail establishment with two or more locations that is part of a chain and sells the same products under the same ownership. A significant portion of retail activities are carried out by chains in the Americas, western Europe, and Japan. Chain stores constitute the first successful application of large-scale integrated procedures to a form of retailing, together with the department store and the mail-order business.
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retirement plans play a key role in making a company competitive in the marketplace because they help the employer to attract and retain employees.
True
Offering a tax-advantaged retirement plan to employees has two primary advantages: attraction and retention.
What do you mean by Retirement planning?
It refers to the distribution of savings or revenue towards retirement in a financial setting. Retirement planning is to achieve financial independence.
As a result, financial consultants frequently advise retirees to have a source of income that provides approximately 70% of their salary while working in order to live comfortably after retirement.
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a city enacts an ordinance that prohibits all advertising on the sides of trucks. a court would likely review this ordinance under the principles of
The River City passes a law banning any truck side advertising. A judge would probably examine this ordinance in accordance with due process rules.
What are the principles of due process?Due process is defined in this context as the right to be handled fairly, quickly, and successfully by the administration of justice. Due process rights set restrictions on laws and court cases in order to ensure fundamental justice and fairness. The rules applied by courts of justice in line with recognized and sanctioned legal concepts and processes, as well as protections for the protection of individual rights, are understood to be subject to due process in this context. A fair trial, the presumption of innocence, and the independence and impartiality of the judiciary are only a few of the many criteria that apply to the administration of justice. The numerous rules are divided up among several articles in the majority of Conventions.
Four aspects of due process are covered because this handbook focuses on a range of Conventions:
a) Excellence in the administration of justice;
b) Excellence in the defense of the parties' rights;
c) effectiveness;
d) efficiency.
The first three components are discussed under the heading of "fair trial," while effectiveness is covered under the "right to an effective remedy" heading because due process rights are traditionally known among human rights experts to center on the right to a fair trial and the right to an effective remedy.
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classify each cost and its amount as either product or period. the first cost is completed as an example.
The classification of each cost and its amount as either product or period costs is as follows:
Classification of Costs by Function:Product Costs Period Costs
1. Plastic for the casing— $20,000
2. Wages of assembly workers— $88,000
3. Property taxes on factory— $7,000
4. Accounting staff salaries— $36,000
5. Drum stands (1,000 stands purchased)— $38,000
6. Rent cost of equipment for sales staff— $12,000
7. Upper management salaries— $175,000
8. Annual flat fee for factory
maintenance service— $13,000
9. Sales commissions— $24 per unit
10. Machinery depreciation, straight-line— $48,000
What is the difference between product costs and period costs?Product costs are directly related to production, including direct materials, direct labor, and allocated factory overhead.
Period costs are not directly related to production, for example, general and administrative expenses, such as rent, office depreciation, office supplies, and utilities.
Thus, we can determine product costs as those that involve production, while period costs are not involved in the production but marketing, selling, and administration.
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Question Completion:Listed here are the total costs associated with the 2017 production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $493 each.
Costs
1. Plastic for the casing—$20,000
2. Wages of assembly workers—$88,000
3. Property taxes on factory—$7,000
4. Accounting staff salaries—$36,000
5. Drum stands (1,000 stands purchased)—$38,000
6. Rent cost of equipment for sales staff—$12,000
7. Upper management salaries—$175,000
8. Annual flat fee for factory maintenance service—$13,000
9. Sales commissions—$24 per unit
10. Machinery depreciation, straight-line—$48,000
what information regarding an entity's future cash flows are investors and lenders interested in? (select all that apply.)
what information regarding an entity's future cash flows are investors and lenders interested in amount, timing, uncertainty.
What is cash flows?
The net balance of money coming into and going out of a business at a particular period is referred to as cash flow. A firm constantly receives and expends cash. For instance, when a retailer buys merchandise, money leaves the company and goes to its suppliers.
Therefore,
Information regarding an entity's future cash flows are investors and lenders interested in amount, timing, uncertainty.
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1. which is listed first on a financial statement? a. revenues b. owner's equity c. liabilities d. assets
Assets is listed first on a financial statement.
What are assets?An economic resource with economic worth that is owned or under the control of a person, a company, or a government with the intention that it would someday be useful is referred to as an asset.
An organization's balance sheet lists its assets. They can be divided into four categories: current, fixed, financial, and intangible. They are obtained or developed in order to raise a company's worth or enhance its operations.
Whether it's manufacturing machinery or a patent, an asset is anything that, in the future, has the potential to increase sales, lower costs, or produce cash flow.
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asset acquisition planning is one of the earliest financial activities you undertake in life. it involves the purchase of , including tangible and financial assets, liquid assets, investments, and personal and real property.
Answer:things we own
Explanation:
ralph is buying terry's house. the buyer's loan amount is $105,580. if the buyer has agreed to pay 3 points at closing, how much will he pay for the points?
$3,167 is the amount he will pay.
The lender may charge a fee called a discount point or point in order to reduce the interest rate. the loan amount of $105,580 x 3 = $3,167 because 1 point COSTS 1% of the loan amount and the buyer is purchasing 3 points.
What is a loan?The term "loan" describes a category of credit instrument in which a sum of money is lent to another party in return for the value or principal amount to be repaid in the future. Most of the time, the lender will also add interest or finance charges to the principal amount, which the borrower will also be required to pay back along with the principal sum.
Loans can be made for a predetermined, one-time sum of money or they can be used as an open-ended line of credit up to a predetermined limit. There are many different types of loans, including secured, unsecured, business, and personal loans.
Lenders either accept or reject loan applications based on the applicant's creditworthiness. Should the loan application be rejected, the lender must explain why. Following approval of the application, a contract outlining the terms of the arrangement is signed by both parties. The proceeds of the loan are advanced by the lender, and the borrower is then responsible for repaying the full amount, along with any additional fees like interest.
Thus, the amount of loans depends on the creditworthiness of the lender.
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what should you do if you do not have or do not believe that you have the proper materials to safely perform your job?
Request the necessary equipment/materials from your VA supervising practitioner or the unit supervisor in your area when do not believe that you have the proper materials to safely perform your job.
What is Safely Perform?
There are risks in your working environment that you should be aware of whether you work outside, at a desk, or with powerful gear. To prevent workplace injuries, it's critical to be aware of any potential hazards in your surroundings. This article will define workplace safety, identify the people responsible for maintaining a safe work environment, and provide advice on how to stay safe at all times both on the job and off.
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ten years ago, you put $5,000 in a savings account. today, your investment has the purchasing power of $4,800 what is your real rate of return? (just calculate like a normal interest rate)
Answer:
-0.41%
Explanation:
(a) if profit is revenue minus cost, find an expression for the profit from the production and sale of x units.
Gross earnings represent the income or income remaining after the product prices were subtracted from sales. revenue is the quantity of income generated from the sale of a company's goods and services.
Solution:
Revenue ( R) = 335x
Cost ( C) = 80x + 18,000
a) Profit = Revenue(R) - Cost(C)
= 335x - ( 80x + 18,000)
= 335x - 80x - 18,000
= 255x - 18,000.
If 4,000 units are sold then,
Profit(P) = 255(4,000) - 18,000
= 10,20,000 - 18,000
= $10,02,000.
profit is revenue minus fees. For gross profit, you subtract a few fees. For net earnings, you subtract all fees. Gross income and working income are steps on the street to net earnings. internet income Margin additionally referred to as income Margin or net earnings Margin Ratio is an economic ratio used to calculate the proportion of earnings a company produces from its overall sales. It measures the number of internet earnings an organization obtains consistent with a dollar of revenue won.
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If the equilibrium price of solar panels is $200 per panel, but a price ceiling of $150 per panel is imposed, what happens to the market for solar panels?.
In the market for Solar Panels the quantity demanded exceeds quantity supplied and a shortage occurs.
A situation of excess demand is said to arise in the market when, at the current price level, there is a greater demand than supply. At a price lower than the equilibrium price, there is excess demand. As a result of the falling prices, consumers would be lured into the markets, which would fuel competition among them. Price increases would result from this competition. The law of supply and demand will work to reduce demand as prices rise, and customers will begin to disappear. As a result of the higher prices, suppliers may raise their output in an effort to boost earnings.
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4. if stefany's liabilities increased by $10,000 and equity decreased by $6,000, assets must have by $
If Stefany's liabilities increased by $10,000 and equity decreased by $6,000, assets must have by $4,000 increase.
In finance, equity is ownership of assets that may be associated with liabilities or other liabilities. Equity is determined for accounting purposes by subtracting liabilities from the value of assets.
What is the true meaning of equity?
Equity is defined as ,war "the state, quality, or ideal of being fair, impartial, or just." The concept of equity is synonymous with fairness and justice. It is helpful not to think of equity simply as a desirable state or a high value.
What is an example of equity?
Equity can be calculated by subtracting liabilities from assets and can refer to a single asset such as a company. B. Applies to real estate, or companies. For example, if someone owns a $400,000 house and has a mortgage of $300,000, the $100,000 difference is equity.
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a person owns one unit in a multi-unit structure together with a specified undivided interest in the common elements. the ownership interest best describes a
A condominium is an ownership interest where a person owns one unit in a multi-unit building along with a specific undivided interest in the common areas.
Definition Of An Ownership Interest In A Property
The rights that one or more owners have over their investment are referred to as ownership interests in real estate. When there are many owners, the ownership interest is typically divided according to how much money was put into the property.
If you have an ownership stake in a piece of property, you are entitled to reasonable use of it. For instance, you would be entitled to a fair portion of the earnings if you jointly own an investment property with other investors.
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list every factor you should consider when evaluating a job offer. be thorough in your answer. you may want to discuss this with a member of your support system network, a placement counselor, or both. include the factors that are specific to your personal job search, as well as general factors.
Factor that one should consider when evaluating a job offer.
1. Investigate Your Potential Employer
Your potential employer has put a lot of effort into determining your fitness for the position. But have you considered whether it's appropriate for you?
2. Income
When considering whether to accept a job offer, many people look to the salary as the most important consideration.
3. Perks and Benefits
Benefits can account for a sizable portion of your pay package, therefore it's important to carefully consider this clause of your contract as their value is frequently less clear than the salary's value.
4. Expenses and Savings
Your commute is one of the major costs to take into account when assessing a job offer. Will your travel expenses go up or down?
5. Time
The time commitment required by your new employment can be difficult to judge.
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Suppose a decrease in the supply of bottled water results in a decrease in revenue. This indicates that.
A decrease in the supply of bottled water results in a decrease in revenues. This indicates that the demand for bottled water is price elastic in the price range considered.
The quantity supplied is the amount of a product that a company intends to sell at a specific price.
The relationship between the percentage change in a product's quantity demanded and the percentage change in price is known as price elasticity of demand. It helps economists comprehend how supply and demand shift in response to changes in a product's price.
Basic economic theory states that when a good's price grows, so will it's supply. In contrast, when a good's price drops, so do its supply and revenue.
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in an erp system, what is it called when material is issued to a job in the beginning of the production process
Software for manufacturing ERP integrates tasks assigned to a job at the start of the production process.
How does manufacturing work?
Manufacturing is the process of converting raw materials into final goods. These goods can be made by hand or by machine, and after they are finished, they are sold to customers or other enterprises for a variety of uses. The produced commodities could also be components of a bigger item. Organizations utilize Manufacturing ERP software to assist manage, plan, and support these activities. They also help businesses scale, save costs, and increase productions in a timely and effective manner.
The production of your bill of materials to the automatic reordering of materials when stock is low are all managed by, for instance, the Odoo ERP software. Your items can be tracked all the way back to the component parts' lot number thanks to traceability. ERP software guarantees that your financials are precisely automatically recorded to measure cost and profitability because of its connection to sales and accounting. ERP software manages and automates crucial production tasks thanks to these and a number of other features.
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a lien that applies to all of one's real and personal property is a: select one: a. voluntary lien b. mechanic's lien c. general lien d. specific lien
A lien that applies to all of one's real and personal property is a Specific lien.
A lien placed against real or personal property to pay off a debt or duty that typically arises out of the law Our house had a lien from the bank. the security interest or lien that a mortgage creates.
Bank, real estate, and tax liens are the three basic categories of liens. Property contracts must be honoured when it comes to property. The lender has the legal authority to sell the property as well as confiscate it if the contract is not honoured.
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select all of the following contemporary work situations that show scientific management at work. more than one answer may be correct.
Contemporary work situations that show scientific management at work are
Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed. Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed.Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff training throughout the year. Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff training throughout the year.Print shop owners Wendy and LaShawn had high employee turnover last year. They know how to set a consistent set of standards for all employees and model that standard themselves.This is further explained below.
What is scientific management?Generally, Federick W. Taylor was the first to promote scientific management, sometimes referred to as Taylorism.
In conclusion, Therefore Options A B D are scientific management at work.
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Complete Question
Select all of the following contemporary work situations that show scientific management at work. More than one answer may be correct.
Check All That Apply
A. Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed. Warehouse packers are having a difficult time managing the piles of items that the robots are picking off the shelves. Managers adjust the robots’ speed to coordinate with the humans’ speed.
B. Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff trainings throughout the year.Junior high school teachers work in teams of two: one newer teacher and one seasoned teacher. The principal and assistant principal assign the teams and hold staff trainings throughout the year.
C. Instead of relying on “old hands,” a political campaign director recruits from groups who are very enthusiastic about the candidate’s ideas. The director sees training as a way to shape energy into action.Instead of relying on “old hands,” a political campaign director recruits from groups who are very enthusiastic about the candidate’s ideas. The director sees training as a way to shape energy into action.
D. Print shop owners Wendy and LaShawn had high employee turnover last year. They know now to set a consistent set of standards for all employees and model that standard themselves.
your broiled swordfish has a food cost of $7.50, and you're targeting a food cost of 33% on this expensive dish. what will the final selling price be?
Answer:
The formula for food cost percentage (FCP) given selling price (SP) and food cost (FC) is FCP = FC/SP x 100.
Explanation:If you set your par for 5 jars of mayonnaise, and you only have 2 on the shelf, you know you need to order 3 more.
FCP = FC/SP x 100 is the formula for food cost percentage (FCP) given selling price (SP) and food cost (FC)
What is the cost?A cost is the amount of money that has been spent to produce something or provide a service and is thus no longer accessible for use. In business, the cost could be one of acquisition, in which case the money spent to obtain it is recognized as cost. In this situation, money is
the input that is used to purchase the item. If you set a goal of 5 jars of mayonnaise and only have 2 on hand, you know you need to order 3 more. Private expenses are the costs borne by the buyer of a commodity or service. This is also known as the costs associated with the firm's production function. External costs (also known as externalities) are the costs borne by people other than the buyer
Therefore, the formula for food cost percentage (FCP) is given the selling price (SP) and food cost (FC).
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