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Ne4ueva [31]
4 years ago
7

Jane and Sarah were watching the evening news when viewers were asked to weigh in on the city's proposed tax increase. Later in

the broadcast, these results were posted. Both Jane and Sarah were skeptical: 68 percent of the viewers supported the tax increase. They wondered how well the type of people who chose to participate would represent the views of all the city's citizens. Jane and Sarah are demonstrating:
Business
1 answer:
lilavasa [31]4 years ago
5 0

Answer:

Critical thinking

Explanation:

Critical thinking refers to gathering information, analyzing it in depth so as to arrive at a conclusion which guides an individuals actions.

Critical thinking requires precision as a trait coupled with high observation skills. Such an activity requires impartial thoughts, an objective mind, not influenced by personal bias or prejudice.

In the given case, Jane and Sarah are assessing the views of the viewers with regard to proposed tax increase, based upon the results announced by the broadcaster. Skepticism is one of the traits required for critical thinking as it makes an individual probe further.

Jane and Sarah are demonstrating critical thinking.

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Kelly has a meeting with mark. when she arrives, mark is on the phone. mark tells the caller that his meeting appointment has ar
777dan777 [17]
Mark's action on the given scenario above is that he is showing courtesy. Courtesy is a way of showing politeness towards other people. This is shown where Mark ended the call because Kelly already arrives. He prioritizes Kelly first because he does not want to make her wait and she's already there to see him. 
4 0
3 years ago
Consider the market for pens. Suppose that increased medical concerns over lead pencils have led schools to steer away from penc
LiRa [457]
Answer: False

Explanation:
Being able to determine the effect on price would have to be circumstantial
4 0
3 years ago
Sage Hill Inc. Issues $254,000, 10-year, 10% bonds at 97. Prepare the journal entry to record the sale of these bonds on March 1
Mamont248 [21]

To record final annual interest and bond repayment:

2017

Mar 1

Bonds interest expense       $25,400

Bonds payable                      $254,000

          Cash                                                  $279,000

On March 1, 1997, the date of issuance, the entry is:

1997

Mar 1

Cash                                        $254,000

          Bonds payable                                  $254,000

On each March 1 for 10 years, beginning March 1, 1997 (ending March 1, 2017), the entry would be (Remember, calculate interest as Principal x Interest Rate x Time)

Mar 1

Bond Interest Expense ($100,000 x 12% x 1)          $25,400

          Cash                                                                                  $25,400


8 0
3 years ago
Assume that Beaver uses the periodic system, and the end of period ending inventory for January is 110 units. a. Prepare all nec
aleksandr82 [10.1K]

Answer:

<u>Part 1 a</u>

jan 4

Debit ; Accounts Receivable (80 x $8.00) $640

Credit : Revenue $640

jan 11

Debit ; Purchases (150 x $6) $900

Credit : Accounts Payable $900

jan 13

Debit ; Accounts Receivable (120 x $8.75) $1,050

Credit : Revenue $1,050

jan 20

Debit ; Purchases (160 x $7) $1,120

Credit : Accounts Payable $1,120

jan 27

Debit ; Accounts Receivable (100 x $9.00) $900

Credit : Revenue $900

jan 31

Debit ; Cost of Sales (100 x $5 + 150 x $6 + 160 x $7) $2,520

Credit :  Inventory $2,520

<u>Part 1 b</u>

<em>Gross Profit = Sales - Cost of Sales</em>

Sales = ( 80 x $8.00 + 120 x $8.75 + 100 x $9.00) = $2,590

Cost of Sales = (100 x $5 + 150 x $6 + 160 x $7) = $2,520

Therefore,

Gross Profit = $2,590 - $2,520

                   = $70

<u>Part 2 a</u>

jan 4

Debit ; Accounts Receivable (80 x $8.00) $640

Debit : Cost of Sales (80 x $5.00) $400

Credit : Revenue (80 x $8.00)  $640

Credit : Inventory (80 x $5.00) $400

jan 11

Debit ; Purchases (150 x $6) $900

Credit : Accounts Payable $900

jan 13

Debit ; Accounts Receivable (120 x $8.75) $1,050

Debit : Cost of Sales (20 x $5.00 + 100 x $6) $700

Credit : Revenue (120 x $8.75) $1,050

Credit : Inventory (20 x $5.00 + 100 x $6) $700

jan 20

Debit ; Purchases (160 x $7) $1,120

Credit : Accounts Payable $1,120

jan 27

Debit ; Accounts Receivable (100 x $9.00) $900

Debit : Cost of Sales (50 x $6.00 + 50 x $7) $650

Credit : Revenue (100 x $9.00) $900

Credit : Inventory (50 x $6.00 + 50 x $7) $650

<u>Part 2 b</u>

<em>Gross Profit = Sales - Cost of Sales</em>

Sales = ( 80 x $8.00 + 120 x $8.75 + 100 x $9.00) = $2,590

Cost of Sales = ($400 + $700 + $650) = $1,750

Therefore,

Gross Profit = $2,590 - $1,750

                   = $840

Explanation:

<em>Hie, see the attached the full question as images below</em>

<u>Part 1</u>

Note that the question in this part requires us to use the Periodic Inventory System. In Periodic Inventory system, Inventory Valuation and calculation of Cost of Goods Sold is done at the <em>end of the Period</em>, in this case at the end of the month of January.

<u>Part 2 </u>

Again it is important to note that the question in this part requires us to use the Perpetual Inventory System. In Perpetual Inventory system, Inventory Valuation and calculation of Cost of Goods Sold is done at the <em>after each and every transaction made</em>.

<u>Overall Comment</u>

The Company use of FIFO should be considered in both the Periodic Inventory System in Part 1 and Perpetual Inventory System in Part 2. FIFO method assumes that the first goods received by the business will be the first ones to be delivered to the final customer.

That said, Cost of Sales for Part 1 are determined and recognized at the end of the period and Cost of Sales for Part 2 are determined and recognized after every sale transaction made

4 0
3 years ago
Porter Company uses standard costs for its manufacturing division. Standards specify 0.1 direct labor hours per unit of product.
kkurt [141]

Answer:

1,370.85 Unfavorable

Explanation:

Standard rate :

= Budgeted variable overhead costs ÷ Budgeted direct labor hours

= $13500 ÷ 640

Direct labor hours = $21.09 per direct labor hour

Standard time to produce goods :

= Budgeted direct labor hours  ÷ Production volume

= 640 ÷ 6,400

= 0.10 hours

VOH Efficiency Variance

= ( SH − AH ) × SR

where,

SH are standard direct labor hours allowed

AH are the actual direct labor hours

SR is the standard variable overhead rate

(SH − AH ) × SR

= [(4,200 × 0.10) - 485] × $21.09

= (420 - 485) × $21.09

= 1,370.85 Unfavorable

5 0
3 years ago
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