Answer:
Given that,
Total prepaid insurance = $6,700
Monthly insurance:
= Total prepaid insurance ÷ 4 months
= $6,700 ÷ 4 months
= $1,675
Insurance expense for two months:
= $6,700 - $1,675
= $5,025
Therefore, the adjusting entry required on December 31 is as follows:
Insurance expense A/c Dr. $5,025
To Prepaid insurance $5,025
(To record the adjusting entry for the insurance)
Answer:
D) Susie would buy more massages and fewer rounds of golf,as predicted by the substitution effect.
Explanation:
Let's check the utility that Susie gets from consuming these products.
The second round of golf gives her 20 units of satisfaction at $20 = 20/20 = 1
The third massage gives her 30 units of satisfaction at $30 = 30/30 = 1
But now the price the price for massage has come down to $15. The ratio of their prices would be
20/15 = 1.333
1.3 is greater than 1
So she should substitute golf for massages
Answer:
The correct answer is letter "D": Traceable to a single cost object.
Explanation:
Direct Cost for finished goods is referred to the costs of the items and services directly used in production that can be allocated to a single cost object. Other costs including rent and production site insurance are indirect costs. The cost of the finished goods may be assigned to indirect costs, but they are not direct costs because they do not change with production levels.
Answer:
d. Supply chains should consider the needs of consumers provided those needs are consistent with marketing strategies.
Explanation:
In order for supply chain customer service to be effective, it is necessary to focus on customer needs and these needs must be aligned with the company's marketing strategies.
In other words, each stage of the supply chain must operate in an integrated manner, so that each process is synergistic and so that the final consumer can receive the product at the right time, in the right quantity and in the right quality. Therefore, supply chain management will improve each step of the process, guaranteeing the quality of the processes, the reduction of time, the reduction of costs and waste and ensuring the continuous improvement of the process, which will make the product go through each channel effectively, generating value and strengthening the relationship between the company and the consumer.
This kind of reasoning is said to be DEDUCTIVE REASONING.
Deductive reasoning is the process of reasoning based on multiple premises that are generally believed to be true. Deductive reasoning usually moves from the general to the specific. For instance, in the question given above, Jason reasoned that if other products are sold at discounted prices, then the items that are newly available will also be sold at discounted prices.
