Answer:
1. Merchandiser
2. Periodic inventory system
3. Perpetual inventory system
4. Cost of goods sold
5. Sales discount
6. Credit period
7. Discount period
8. FOB destination
Explanation:
1. Merchandiser: A type of business that earns income by buying and selling merchandise.
2. Periodic inventory system: Inventory is updated for purchases and sales of inventory only at the end of a period.
3. Perpetual inventory system: Inventory is updated for each purchase and each sale of inventory.
4. Cost of goods sold: The expense of purchasing and preparing the merchandise sold during a period.
5. Sales discount: Seller's description of a cash discount granted to buyers in return for early payment.
6. Credit period: The amount of time allowed by a seller before payment is due from the buyer.
7. Discount period: Time period in which a cash discount is available.
8. FOB destination: Refers to credit terms where goods in transit are owned by the seller.
Answer:
Direct material quantity variance= $6,300 unfavorable
Explanation:
Giving the following information:
Direct materials 2 grams $7.00 per gram
The company produced 4,600 units in January using 10,100 grams of direct material.
<u>To calculate the direct material quantity variance, we need to use the following formula:</u>
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (2*4,600 - 10,100)*7
Direct material quantity variance= $6,300 unfavorable
They are estimating the Nominal GDP. The Nominal GDP measures the quarterly economic output that occurred in the year. This would analyze production, employment, all the elements in the financial circulation. This is different from the real GDP because here it would include the inflation of prices that occurred. Nominal GDP only reflects on the economical changed within the current year regardless of inflation.
Answer:
393 units will need to be sold to breakeven
Explanation:
Break even point is the point where a Company makes neither makes a profit nor a loss.
Step 1 : Calculate new variables
New Sales = $250 x 1.40 = $350
Variable Costs = $250 x 30 % = $75
New Fixed Costs = $120,000 x 90 % = $108,000
Step 2 : Break even (units)
Break even (units) = Fixed Costs ÷ Contribution per unit
= $108,000 ÷ ($350 - $75)
= 393 units
Thus, 393 units will need to be sold to breakeven
Answer:
The options for this question are the following:
A. Minimal
B. Superficial
C. Low-budget
D. Excessive
The correct answer is D. Excessive.
Explanation:
In this case, it is useful to consider that cost control is the procedure that allows companies to carry out the regulatory and protection processes against what the client expects to receive. Toyota is a well-known brand, and poor cost management can have an impact on the inflation of its costs and therefore the price of its cars rises considerably. Excessive costs negatively influence the companies' results, and therefore their correct management influences optimal results for the operation.
