Answer:
Telephone bill
Sales ticket
Invoice from supplier
Bank statement
Prepaid insurance
Explanation:
Source documents in accounting are defined as the original record of a transaction that contains transaction details and provides evidence that a transaction occurred.
It is source of information entered into the accounting system. They can be printed on paper or electronic in nature.
From the given list the following are source documents: Telephone bill, Sales ticket, Invoice from supplier, Bank statement, Prepaid insurance.
They are sources from which transaction information can be obtained for entry into the accounting system
Answer:
$3,180
Explanation:
Monthly salary would be the base salary = $2500
Since he would earn 2% of all orders, calculate the dollar value of the commission when total orders amount to $34000;
Commission = 2% *34000 = $680
His total pay would be calculated by adding the base salary to the commission amount;
Total pay = base salary + commission
Total pay = $2500 + $680
Total pay = $3,180
Answer:
The statement is: False.
Explanation:
The product orientation of marketing places special attention in the products firms want to offer. According to this approach, consumers buy products more than solutions, they are interested in product quality, and choose between one product and another according to the best quality they can acquire for the price they pay.
Answer:
D. $1,344 unfavorable
Explanation:
We know,
Direct materials quantity variance = (Standard Quantity - Actual Quantity) × Standard price
Given,
Standard Quantity = 4,440 pounds of material
Actual Quantity = 4,650 pounds of material
Standard price = $6.40
Putting the values into the above formula, we can get,
Direct materials quantity variance = (4,440 - 4,650) pounds × $6.40
or, Direct materials quantity variance = -210 pounds × $6.40
Therefore, Direct materials quantity variance = $1,344
As the actual quantity is higher than standard quantity, the situation is unfavorable. Therefore, option D is the answer.
Answer:
production of individually customized products
Explanation:
Mass customization can be described as when a company produces and delivers market goods and services that are suited to meet the needs of individual customers
It combines the benefit of low cost associated with mass production with the customization of goods.
An example of a product that is mass customized is the mobile phone. A mobile phone is mass produced but due to its software, users are able to modify or customize their phone to suit their needs
Types of Mass customization
- Collaborative customization: In this type of Mass customization, customers and the company work together to create a good or service that meets the unique needs of the consumer.
- Adaptive customization: the good or service created can be further customized by the consumer to suit their needs.
- Transparent customization: unique products are made for each consumer .
- Cosmetic customization: different types of standardized products are made for various groups of customers.
Advantages of Mass customization
- Customer satisfaction increases
- Goods are produced at lower costs
Disadvantages of Mass customization
- It would be difficult for the company to build up stock ahead of time due to the unique needs of the customers
- there would be an increased wait time from the time the order is made till when it is delivered
