It is important that you are able to organize and classify
your files so that it would be fast and simple to retrieve them when they are
needed. Classify them by topics and
arranged them by date as well as by alphabetical order and create a database so
that you retrieve them quickly.
Answer: The correct answer is "a. lower wage rate and hire fewer workers than will a purely competitive employer.".
Explanation: Monopsony is generated when there are many people looking for work and there are only a few employers, who can afford to offer a lower salary than they would have to offer if there was more competition for workers.
Answer: $4,811
Explanation:
Assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible that would be,
= 6% * 98,700
= $5,922
The Allowance for Doubtful Accounts acts as a buffer for the business when bad debts are incurred.
Bad debts are taken from the Allowance as the Allowance has already been removed from the Receivables.
In cases where Bad debts exceed the buffer in the Allowance for Doubtful Debt Account we take everything in it and the remaining bad debt amount is debited to Bad Debt expense.
That would be,
= 5,922 - 1,111
= $4,811
$4,811 is the amount that should be debited to Bad Debts Expense.
Answer: The answer is given below
Explanation:
A best-cost strategy is a strategy that is used by companies as they focus on low cost in order to give their customers better value for the money spent on the purchase of goods or services from them. The goal of this strategy is to keep the prices and costs lower when compared with the other competitors that offer similar products.
This strategy can be very successful in retail stores. Retail stores offer similar products to their competitors and using this strategy could help in making the store get more customers and hence push up its income.
For this strategy to work in such industry, firstly, the company will need to study its market very well, get to know its competitors, have a good working relationship with the manufacturers of different products, and have a friendly and amazing staffs who know what is and expected of them. With all these in place, success will be achievable.
An example of a firm in Jacksonville that is following a best cost strategy is
McDonald. The company over the years, has been successful and laid s foundation of offering fast-food meals that are of low prices and affordable.
Answer: Direct materials quantity variance.
Explanation:
Direct Material quantity variance is the difference between the actual quantity of materials used in production and the standard quantity that was supposed to be used, multiplied by the standard price of the material.
It is a method that checks the company's efficiency is being able to use raw materials to produce goods. If the Actual quantity needed is greater than the Standard quantity, this will be considered an Unfavorable Variance and mean that the company was not efficient in using the materials.
Causes of this can be low quality of materials and inadequate employee training.