A company employing a product development strategy would create a new product targeted to its current customers.
What is New Product Development ?
You can get the people in your division to come up with ideas for new products by following the given things mainly which revolves around reinforcing the novel ideas:
- As employees have direct contact with the customers so they have the better ideas about the customers needs and wants.
- Employees are well aware of the changing trends so they should be encourage to come up with the new and novel ideas for the new products.
- Ideas can come from any where, from any level of the organization so each and every single employee should be motivated to participate in idea generation activities.
The importance of doing customer research is to have a drive for new product development. A research can be effective in pointing out consumer trends and fads, as well as opening a direct customer communication channel that feels prestigious for having its requests valued by a company. Through concrete data of potential customers and new customers, an organization has the ability to meet the actual demand of potential customers and make possible adjustments to the production process.
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Answer:
Dr Allowances for sales returns $600
Cr Sales refund payable $600
Being increase sales refund estimate
Explanation:
The sales refund account is liability account that should naturally have a credit balance.
In the current period the balance in the sales refund payable account should be $900 in total,but there is a balancing credit amount already in the account,intuitively, the amount needed to raise the balance in the account to $900 is $600.
The necessary entries required for the sales refund payable is shown below:
Dr Allowances for sales returns $600
Cr Sales refund payable $600
Being increase sales refund estimate
There is no adjusting entry to accounts receivable as that deals with receipt of cash from sales transactions and not the actual sales transactions.
When the refund is eventually settled with cash, a debit is posted to sales refund payable and a credit to cash account
A would be the correct answer
<u>Solution and Explanation:</u>
<u>Computation of service years
</u>
Year Jim Paul Nancy Dave Kathy Total * Cost Amortization
2014 1 1 1 1 1 5 * 3000 15000
2015 1 1 1 1 1 5 * 3000 15000
2016 1 1 1 1 1 5 * 3000 15000
2017 1 1 1 1 4 * 3000 12000
2018 1 1 1 3 * 3000 9000
2019 1 1 2 * 3000 6000
72000
<u>Future years of service </u>
Jim 3
Paul 4
Nancy 5
Dave 6
Kathy 6
24
Answer:
$9,600
Explanation:
Calculation for Bumble Bee's pretax accounting income
Using this formula
Pretax accounting income=Taxable income-Accrued warranty expense+(Tax depreciation-Book depreciation)
Let plug in the formula
Pretax accounting income=$7,000-$400+($5,000-$2,000)
Pretax accounting income=$7,000-$400+$3,000
Pretax accounting income=$9,600
Therefore Bumble Bee's pretax accounting income will be $9,600
