All categories

3 years ago

My starbucks idea, which provides customers a location to post suggestions, is a type of g

1 answer:

7 0

The answer is open innovation
In business terms, open innovation refers to using input and knowledge from outside the company in order to accelerate the innovation process in the company. By creating my starbucks idea, starbuck will able to collect a lot of data from its customers and create a plan that will win the favor of most of its customers

You might be interested in

Prepare summary journal entries to record the following transactions for a company in its first month of operations. Raw materia

Whitepunk [10]

Answer:

Journal Entries

Raw Materials $108,000 (debit)

Accounts Payable $108,000 (credit)

Being purchase of Raw Materials on Account

Work In Process ; Direct Material Cost $44,000 (debit)

Work In Process ; Indirect Material Cost $19,800 (debit)

Raw Materials $63,800 (credit)

Being Raw Materials requisitioned for Production

Work In Process ; Direct Wages and Salaries $46,000 (debit)

Work In Process ; Indirect Wages and Salaries $24,000 (debit)

Cash $70,000 (credit)

Being Wages and Salaries Paid in Cash

Overheads $8,750 (debit)

Cash $8,750 (credit)

Being Cash paid for Overheads

Work In Process $55,200 (debit)

Overheads $55,200 (credit)

Being Overheads Applied to Work In Process at 120% of direct labor cost

Finished Goods $86,000 (debit)

Work In Process $86,000 (credit)

Being Goods transferred to Finished Goods

Trade Receivable $123,000 (debit)

Revenue $123,000 (credit)

Being Sale of Jobs on Account

Cost of Sales $86,000 (debit)

Finished Goods $86,000 (credit)

Being Cost of Jobs Sold

Explanation:

Costs incurred for Manufacturing are accumulated In the Work In Process Account.

This account is de-recognized as the goods are transferred to Finished Goods.

The Finished Goods Inventory Account is then de-recognised as the Jobs are sold to the Customers.

7 0

3 years ago

A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $0.60 per pound = $

Naddika [18.5K]

Answer:

Direct material price variance= $20,100 unfavorable.

Explanation:

Giving the following information:

Direct materials 7 pounds at $0.60 per pound = $ 4.20

During the latest month, the company purchased and used 67,000 pounds of direct materials for $.90 per pound to produce 10,000 units of output.

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (0.60 - 0.90)*67,000= $20,100 unfavorable.

7 0

4 years ago

In a multi-step Income Statement:

Anastasy [175]

Answer: B.

Explanation: The multi-step income statement is ultimately used in determining Net Income which is calculated by separately determining :

1. Gross profit( Net sales - cost of goods sold)

2. Operating income( Operating expenses - Gross profit)

3. Operating income combined with non - operating revenue, losses, profit and expenses to obtain the net income or loss.

Conclusively, Gross profit(margin) will be calculated separately, which then be used to obtain the operating income.

7 0

3 years ago

Gary is a self-employed accountant who pays $2,000 for business meals. How much of a deduction can he claim for the meals and wh

bonufazy [111]

Answer:

He can Claim a 50% deduction on the Schedule C Business Expense Deductions

Explanation:

Business Meals fall under the category of the small businesses tax deductions made available under Schedule C by the Internal Revenue Service that can small businesses can take advantage of.

The business owner or employee must be present at the meal.
The meal must not be extravagant under any circumstances.
The meal must be an ordinary and necessary part of carrying on businesses.

Gary as a self-employed accountant is a small service provider who can take advantage of this deduction.

5 0

4 years ago

In their business partnership, George has an ownership interest of 56% and Ben has an ownership interest of 44%. In the curre

SVETLANKA909090 [29]

Answer:

(D) George, Capital will increase by $6,700 and Ben, Capital will increase by $3,100.

Explanation:

Transaction for the event

Dr. Equipment (Asset) 9800

Cr. George (Capital A/c) 6700

Cr. Ben (Capital A/c) 3100

So.

George, Capital will increase by $6,700 and Ben, Capital will increase by $3,100 on the basis of their contribution in the purchase of equipment. So option D is true based on this event.

5 0

3 years ago