Knowledge Check 01

Paul subscribes to an Internet service that alerts him whenever other firms in his industry are quoted in the media. This allows

Natalka [10]

<h2>Paul is using this type of marketing research primarily to <u>monitor his competitors</u></h2>

Explanation:

One way the industry gets success is by keeping track of the activities of their competitors. One must stay updated about their industry and competitors to get the top position and to stay on top position for longer duration.

Now it is internet world, so, the internet allows the user to enable notification to keep the user updated. So in the same way Paul uses the technology in a right way to stay updated and to"monitor his competitors".

7 0

3 years ago

At the luxury hotel in miami, florida, three hotel employees serve the needs of each guest. in every room, a guest can summon a

omeli [17]

The answer is: C. focus differentiation strategy

Focus differentiation strategy refers to the strategy made to make the products of certain business become distinguishable from other products on similar market. To highlight the difference, focus differentiation stratefy would mentioned specific details about the product or advantages that the product have over other competitors.

3 0

3 years ago

Bibby Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Bibby

Drupady [299]

Answer:

Answer:

1.) Overhead Absorption rate= $30 per hour

2) Absorbed overhead= $70,500

Over-absorbed overhead=$4700

3) Journal entry:

Debit Manufacturing overhead expense $4,700

Credit Cost of goods sold $4,700

Explanation:

Overhead Absorption rate = Budgeted overhead /Budgeted labour hours

= 72,000 /2,400 hours = $30 per hour

Absorbed overhead = OAR × Actual labour hours

=$30 × 2350 = $70,500

Over-absorbed overhead = Absorbed overhead - Actual overhead

= $70,500 - $65,800 = $4700

Journal entry:

Debit Manufacturing overhead expense $4,700

Credit Cost of goods sold $4,700

Answer:

Overhead Absorption rate= $30 per hour

Absorbed overhead= $70,500

Over-absorbed overhead=$4700

Journal entry:

Debit Manufacturing overhead expense $4,700

Credit Cost of goods sold $4,700

3 0

3 years ago

Savings Mart is a national retail chain. To entice the company to open a mega store in its jurisdiction, the city of Populationv

vazorg [7]

Answer:

$300,000

Explanation:

As per the Internal service revenue (IRS) and Generally accepted accounting principles (GAAP), when the entity who is profit making received any fixed asset as a donation than the same assets should be recorded at the fair value amount

Here the purchase price is $250,000 and the appraisal value i.e. fair value is $300,000

So the amount of donating the land should be recorded at $300,000

3 0

4 years ago

Your client, Brooke, decides to start saving for her son's college tuition. Her son was born today and will go to college at age

oksian1 [2.3K]

Answer:

The present value of the total amount that Brooke needs to have saved at the beginning of her son's first year of college is 31.959,13

Explanation:

Tuition Fees after inflation at

Year 18 = 15000* ( 1+6.5%)18 = 46599.8157

Year 19 = 15000* ( 1+6.5%)19 = 49628.8037

Year 20 = 15000* ( 1+6.5%)20 = 52854.6759

Year 21 = 15000* ( 1+6.5%)21 = 56290.2299

Since discount rate = 10%

So discount factor = 1+r = 1+10% = 1.1

Since fees are paid at beginning of period hence

Present Value of Fees = Fees (year 18)/1.1^18 +Fees at Year 19/1.1^19 +Fees at Year 20/1.1^20 + Fees at year 21/1.1^21 = 46599.8157/1.1^18 + 49628.8037/1.1^19 + 52854.6759/1,1^20 + 56290.2299^21 = 31959.13

3 0

4 years ago