The contingency approach to management is based on the idea that there is no single best way to manage. Contingency refers to the immediate contingent circumstances. Effective organizations must tailor their planning, organizing, leading, and controlling to their particular circumstances.
Answer:
$16.9 per widget
Explanation:
Given that,
Beginning inventory = $2,500
Purchases = $156,000
Ending inventory = $38,200
Sales Revenue = $783,000
Selling and Administrative Expenses = $5,400
Total cost of the 7,100 widgets:
= Beginning inventory + Purchases - Ending inventory
= $2,500 + $156,000 - $38,200
= $120,300
Therefore,
Cost of one widget = Total cost of the 7,100 widgets ÷ Number of widgets
= $120,300 ÷ 7,100
= $16.9 per widget
Answer:
The question is incomplete, find complete question in the attached.
The receivables turnover for the current year is 9.02 times while average days sales in receivable is 41 days
Explanation:
The formula for computing receivables turnover ratio is given as:
Net credit sales/average accounts receivable,where average receivables is the opening plus closing receivables divided by two.
Net credit sales=$35,657
Average receivables =($3495+$4415)/2=$3955
Receivable turnover ratio=$35657/$3955
=9.02
Average days sales in receivable=number of days in the year/receivable turnover ratio
Average days sales in receivable=365/9.02
=40.47 days approx 41 days
The average days sales in receivable implies the average number of days it takes receivables to settle their accounts
Answer:
In the restaurant business, self inspections can help you ensure that the food is always safe for your customers (better quality food) , lower the overall costs of the restaurant and helps to increase your reputation (a clean restaurant is always seen as a better restaurant).
Self inspection doesn't mean that the manager herself has to carry out the inspection, another employee can. Self inspection refers to making sure you comply with all regulations without having an inspector come and evaluate your restaurant. Self inspections will help the restaurant get higher inspection scores, and that was one of Brianna's major accomplishments.
Answer:
a. its greater flexibility
Explanation:
A sole proprietorship is A form of legal business structure owned by only one person. The liabilities of the owner is unlimited. It is usually flexible as decisions are made and approved by the owner.
A sole proprietorship doesn't usually have perpetual existence. It usually ends when the owner dies. It is not easy to transfer shares to other family members.
A sole proprietorship gives the owner the opportunity to be involved in the day to day running of the business.
I hope my answer helps you.
