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2 years ago

According to the enotes, what do you call inventory that is readily available on the retail shelf?

1 answer:

8 0

Market Inventory is the inventory that is readily available on the retail shelf. Both the products that are on hand for sale and the raw materials required to make those products are considered inventory. On the balance sheet of an organization, it is categorized as a current asset. A business should generally avoid keeping a large volume of inventory on hand for an extended period of time.

The three different categories of inventory are raw materials, finished commodities, and work-in-progress. The first-in, first-out method, the last-in, first-out method, and the weighted average method are the three methods used to value inventory. As items are produced or acquired as needed, inventory management enables organizations to reduce inventory expenditures.

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Ahmed Company purchases all merchandise on credit. It recently budgeted the following month-end accounts payable balances and me

Vitek1552 [10]

Answer:

1. Computation of Budgeted amount of Merchandise Purchases

Particulars June July August

Ending Accounts Payable $130,000 $300,000 $120,000

Payments on account $1,500,000 $1,400,000 $1,400,000

$1,630,000 $1,700,000 $1,520,000

Beginning Accounts Payable $150,000 $130,000 $300,000

Purchases $1,480,000 $1,570,000 $1,220,000

2. Computation of Budgeted amount of Cost of Goods Sold

Particulars June July August

Beginning inventory $260,000 $500,000 $300,000

Purchases $1,480,000 $1,570,000 $1,220,000

Cost of goods AFS $1,740,000 $2,070,000 $1,520,000

Ending Inventory $500,000 $300,000 $330,000

Cost of goods sold $1,240,000 $1,770,000 $1,190,000

8 0

2 years ago

Rhed Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day

REY [17]

Facility expenses in the flexible budget comes out to be $24,260.

<h3>What is flexible budged?</h3>

A flexible budget is one that is based on various sales volumes. For each projected level of production, the static budget is adjusted by a flexible budget. Due to this flexibility, management is able to predict how the budgeted figures will change as sales volume changes.

Calculation for the facility expenses in the flexible budget for December:

The table of the data used in budgeting: Fixed Element per Month Variable element per tenant-day Revenue is in attachment-

Facility expenses in the flexible budget = Variable + Fixed

= (3650*4.40) + 8200

= 16,060 + 8200

= 24,260

The wages and salaries in the planning budget for December would be closest to $24,260.

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6 0

2 years ago

Harvey quit his job at State University, where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrep

son4ous [18]

Answer:

The options are wrong,find below correct multiple choices:

$605,000

$825,000

$655,000

$150,000

The correct option is $605,000

Explanation:

Explicit costs are costs incurred that require actual cash settlement not costs of alternative forgone as in the case of implicit costs.

There is only example of explicit cost for Harvey Business in the first year of operation,which is the cost of production,packaging,marketing,employee wages and benefits and rent on a building.

In other words,the explicit costs incurred in year one =$55*11,000 units

=$605,000

The correct option is the of those ones provided above.

3 0

3 years ago

The American Red Cross and the American Medical Association are nonprofit businesses. This is because they: A. plan to make a pr

MrRa [10]

Answer:B exist to benefit a cause but not to make a profit.

Explanation:

They are to provide services which are useful to the members of the society at large. They exist to promote the interest of members of the public which are social in nature. With a view to ensure the smooth running of the organisation some individuals are elected to run the organisation in the position of chairman, secretary, and treasurer. They do prepare receipt and payment account which is similar to cash account while some do prepare income and expenditure account which is similar to profit and loss account.

5 0

3 years ago

In a ____________, all functional activities are controlled by a product group at headquarters; local managers do not usually pr

german

Answer:

Global product division structure.

Explanation:

A Global product division structure is a business structure where the central headquarters controls the activities of it's branches which are located in different countries, especially when it involves key decision making process in the business.

The various member branches of the global product division structure has a manager who supervises the daily runnings of the business and gives a report back to it's central headquarters.

4 0

3 years ago