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4 years ago

Develop a product service idea.

Business

1 answer:

Alex787 [66]4 years ago

4 0

Answer:

Read the following explanation.

Explanation:

1a- My products idea is the auto-home temperature control system which will benefit the customers to control the temperature of their home in winter time. this product is both automatic means customer can control this system with remote and use of internet as well as manually by changing its settings.

b- The potential customers for this product are based on geographic segmentation in which customers who live in cold countries like Canada, America, Atlanta, Russia will be targeted.

another potential custome segmentation will be based on demographic in which customers who are professionals like doctors, lawyers, or job doers and having average to high income level will be targeted like income level from $50000-above $150000.

2-the three possible way to market my product are-

a-Use of google in which customers will type the name of my product and it will list on top because of SEO and i will rank my product on top list so that customers can click and read about my product on my website easily.

the pro of this that customers will get information easily and place order. this will help to build good image of my product being top at google list.

the con is that this may cost more to put my product on top of search engine list.

b- The use of social media like Fb post, instagram etc in which my product will get advantage of being marketed to wide range of audience at low cost. also there are billions of users on social media so we can reach to them in less time.

the con of this is that use of social media involves other big brands and products already so customers tend to ignore such ads.

c- the third would be use of TV commercials in which we would use celebrity influenece to market my products. the advantage of this is that Customers will be influneced by celebrity power and will order the product. Tv commercials will have customers who are ignored by social media.

the con of this is that this may cost extra to hire celebrity also customers who are to watch Tv shows or movies tend to skip ads.

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Answer:

Explanation:

a. The computation of the ending inventory is shown below:

Inventory Quantity Cost NRV LCM Total inventory

(1) (2) (1 × 2)

Unit A 14 $38 $40 $38 $532

Unit B 22 $42 $39 $39 $858

Unit C 16 $27 $31 $27 $432

Unit D 19 $18 $17 $17 $323

Total $2,145

And total cost = Unit A × cost + Unit A × cost + Unit A × cost + Unit A × cost

= 14 × $38 + 22 × $42 + 16 × $27 + 19 × $18

= $532 + $924 + $432 + $342

= $2,230

b. The journal entry is shown below:

Income summary A/c Dr $85 ($2,230 - $2,145)

To Inventory A/c $85

(Being inventory is adjusted)

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3 years ago

Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring ser

stealth61 [152]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Toot! TiX Total

Users 17,900 24,100 42,000

Administrative costs $ 1,848,000

We need to allocate administrative costs to each product. First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,848,000/42,000

Predetermined manufacturing overhead rate= $44 per user

Now, we allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Toot!= 44*17,900= 787,600

TiX= 44*24,100= 1,060,400

Finally, the gross profit for each service:

Toot!:

Revenue= 2,200,000

Engineering cost= (1,096,250)

Administrative cost= (787,600)

Profit= $316,150

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Revenues= 2,400,000

Engineering cost= (1,213,750)

Administrative cost= (1,060,400)

Profit= $125,850

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3 years ago

As the full-time bookkeeper, your job is to make any corrections to the general ledger accounts. Each correction needs the reaso

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Answer: See explanation

Explanation:

Based on the information given, we are informed that the co-worker has recorded a cash receipt twice and wants the full time bookkeeper to record a correcting entry that will reverse the mistakes.

Before making a decision about the correcting entry, it is necessary to check the entry and cross check the balances for sales and cash. One has to also check the receipts and every other necessary details in order to make sure that the transaction is genuine and not fraudulent.

After the through check, if the person is sure and confident that everything is okay, then the correcting entry can be made.

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3 years ago

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Answer:

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3 years ago

Sunland has year-end account balances of Sales Revenue $744,020, Interest Revenue $13,110, Cost of Goods Sold $513,065, Administ

alexira [117]

Answer:

Explanation:

The closing entry for the following accounts are shown below:

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(Being revenue account closed)

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To Cost of Goods Sold $513,065

To Administrative Expenses $202,210

To Income Tax Expense $32,779

(Being expenses accounts are closed)

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To Retained earning $9,076 ($757,130 - $748,054)

(Being the difference is credited to retained earning)

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To Dividend A/c $20,221

(Being dividend account is closed)

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3 years ago