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Katarina [22]
3 years ago
7

Put the steps of the decision-making process in the correct order.

Business
1 answer:
RideAnS [48]3 years ago
4 0

Identify the decision. The first step in making the right decision is recognizing the problem or opportunity and deciding to address it. Determine why this decision will make a difference to your customers or fellow employees.

Gather information. Next, it’s time to gather information so that you can make a decision based on facts and data. This requires making a value judgment, determining what information is relevant to the decision at hand, along with how you can get it. Ask yourself what you need to know in order to make the right decision, then actively seek out anyone who needs to be involved.

Identify alternatives. Once you have a clear understanding of the issue, it’s time to identify the various solutions at your disposal. It’s likely that you have many different options when it comes to making your decision, so it is important to come up with a range of options. This helps you determine which course of action is the best way to achieve your objective.

Weigh the evidence. In this step, you’ll need to “evaluate for feasibility, acceptability and desirability”

Choose among alternatives. When it’s time to make your decision, be sure that you understand the risks involved with your chosen route. You may also choose a combination of alternatives now that you fully grasp all relevant information and potential risks.

Take action. Next, you’ll need to create a plan for implementation. This involves identifying what resources are required and gaining support from employees and stakeholders. Getting others onboard with your decision is a key component of executing your plan effectively, so be prepared to address any questions or concerns that may arise.

Review your decision. An often-overlooked but important step in the decision making process is evaluating your decision for effectiveness. Ask yourself what you did well and what can be improved next time.


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Mickley Company’s plantwide predetermined overhead rate is $20.00 per direct labor-hour and its direct labor wage rate is $15.00
Crank

Answer and Explanation:

The computation is shown below;

1.

Total hours for job A - 500

= Direct labor ÷direct labor wage rate

= $150 ÷ $15

= 10

Total over head cost = overhead cost per labor hours × no. of labor hours

= $20 × 10

= $200

total manufacturing cost = Direct materials cost + Direct labor cost + Total over head cost

= $280 + $150 + $200

= $630

2.  

Cost assigned to each unit

= total manufacturing cost ÷  number of units

= $630 ÷ 70

= $9

8 0
4 years ago
Kwok Enterprises has the following income statement. How much after-tax operating income does the firm have? Sales $2,050 Costs
tester [92]

Answer:

Sales                                  2,050

Costs                                  (1,400)

Depreciation                      <u>(250)</u>

EBIT                                     400

Interest expense                <u> (70)</u>

Earnings before tax             330

Tax @ 25%                           <u>(82.50)</u>

After-tax operating income <u>247.50</u>

Explanation:

The after-tax operating income equals sales minus costs minus depreciation minus interest expense minus tax.

7 0
3 years ago
Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation fo
Kazeer [188]

Answer:

2016 =  -$67,000

2017 = $393,000

Explanation:

The income statements for company for each of its first two years under variable costing is shown below:-

                                   <u>Dowell Company</u>

                                 <u> Income statement</u>

                                  <u>Variable costing</u>

<u>Particulars                                          2016              2017</u>

Sales                                            $966,000        $1,886,000

Less: Variable cost

Direct material                             $84,000           $164,000

                                                    (21,000 × $4)   (41,000 × $4)

Direct labor                                   $168,000          $328,000

                                                    (21,000 × $8)   (41,000 × $8)

Variable overhead                          $189,000        $369,000

                                                    (21,000 × $9)   (41,000 × $9)

Variable selling and

administrative expenses              $42,000            $82,000

                                                    (21,000 × $2)   (41,000 × $2)

Total variable cost                        $483,000        $943,000

Contribution margin                      $483,000        $943,000

(Sales - Contribution margin)

Less:

Fixed expenses

Fixed overhead                              $310,000      $310,000

Fixed selling and

administrative expenses               $240,000    $240,000

Total of fixed expenses                 $550,000   $550,000

Net income (loss)                           -$67,000     $393,000

To determine the net income (loss) we simply deduct the contribution margin from total of fixed assets.

8 0
3 years ago
What is the primary role of individuals as participants in the money market?
larisa [96]

The primary role of individuals as participants in the money market is to purchase money market instruments so that their funds can be used for further investment by financial institution.

The Money markets constitutes financial institution who provides the money market instrument such as mutual funds to the Market participant.  

The Money market are essential to the economy because the excess reserves of investment with them are lend out and this boost the money supply of the economy.

Therefore, the primary role of individuals as participants in the money market is to purchase money market instruments so that their funds can be used for further investment by financial institution.

Learn more about this here

<em>brainly.com/question/14934453</em>

4 0
3 years ago
Read 2 more answers
Bob, CPA, has a client with a strong belief that he is correct about an aggressive but creative tax position. Bob thinks otherwi
yKpoI14uk [10]

Answer:

IRS ,AICPA Statements on Standards for Tax Services.

Explanation:

From the question, we are informed about Bob, that has a client with a strong belief that he is correct about an aggressive but creative tax position.

and how Bob files the tax return with disclosure on his client's included.

In the case of agreement on the disclosure of the position, then it should be disclosed to IRS. which is a form of Statements on Standards for Tax Services.they are responsible for quality control as far as tax is concerned.

5 0
3 years ago
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