Interests are the specific items or terms you actually negotiate and are generally the first thing that we think of when we anticipate negotiating - False
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Explanation:</u></h3>
Interest refers to the things that we actually like to get. When we list an item in our interest list we will get that item without any negotiation. Items that are in our interest list are those that we use regularly and there will be no second item for its displacement. We will get these items even when the cost of the item is more.
When the things that are not in the list of our interest we will start negotiation. This is because these items are not mandatory for us and even when the price of the particular item is not reduced we will ignore and buy something instead of it. Thus, the specific items of our interest will not the first thing we anticipate for negotiation process.
When a customized product is manufactured separately, it is referred to as Job order production.
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Job Order Production</h3>
- Manufacturing bespoke or distinctive goods for specific clients is known as job order production.
- Because every order or job is a customized order submitted by the customer, job order production is also sometimes referred to as job order manufacturing or bespoke production. Frequently, only one copy of a custom job is made.
- Custom products made in bulk are the focus of many producers. Customers bring designs or products in mind for custom products, which the manufacturer develops and produces.
- Print shops and studios are excellent examples of custom manufacturers. With a design for 100 graduation invitations, a consumer might go to his neighborhood print shop.
To learn more about Job Order Production refer to:
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Answer:
The annuity is worth $5,000 today
Explanation:
We solve using the growing perpetuity formula for present value:
r = 0.06
g = 0.02
C = $200
$200/(0.06-0.02) = 200/.04 = $5,000
Answer:
b. debiting Accounts Receivable and crediting Sales.
Explanation:
When merchandise is sold and the perpetual system of inventory is used, the journal entry for a sale would include debiting Accounts Receivable and crediting Sales.
A perpetual system of inventory can be defined as a method of financial accounting, which involves the updating informations about an inventory on a continuous basis (in real-time) as the sales or purchases are being made by the customers, through the use of enterprise management software applications and a digitized point-of-sale equipment.
Under a perpetual system of inventory, updates of the journal entry for cost of goods sold or received would include debiting accounts receivable and crediting sales immediately as it is being made or happening. The advantage of the perpetual system of inventory over the periodic system of inventory is that, it ensures the inventory account balance is always accurate provided there are no spoilage, theft etc.
In Accounting, to record a journal entry for a sale on account, the account receivable would be debited because it is an asset and shall be increased with debits while crediting the sales account for the amount being paid by the customer.
Answer:
Total cost per year = $1,801,860
Explanation:
Given:
Annual demand = 12,000 units
Ordering cost = $30 per order
Inventory holding cost = $3 per year
Order quantity = 1000 units
Cost per unit of the item = $150
Find:
Total cost per year
Computation:
Total cost per year = Purchase cost + Order cost + Inventory holding cost
Total cost per year = [12,000 x 150] + [12,000/1000 x 30] + [1,000/2 x 3]
Total cost per year = 1,800,000 + 360 + 1500
Total cost per year = $1,801,860
