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3 years ago

The first step in creating a budget is to identify your expenses. true or false.

Business

2 answers:

Lerok [7]3 years ago

6 0

Answer: True

Explanation:

Yes, the given statement is true that the initial or the first step of creating a proper budget we always create a list and then identify our expenses according to the specific requirement.

We should always keep the all the financial records regularly so that we can make the proper budget list of the expenses. The budget is basically depend upon the individual living requirement, expenses and the income.

sergij07 [2.7K]3 years ago

5 0

The answer is True. Hope this helps

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XYZ Inc.'s cost formula for its supplies cost is $968 per month plus $8 per frame. For the month of November, the company planne

zaharov [31]

Answer: $528 favorable

Explanation:

The Spending variance for supplies shoes the difference between what the company thought it would spend on supplies and what it actually spends.

Spending variance on supplies = Actual costs - Budgeted costs

Budgeted cost:

= 968 + 8 * 470 frames

= 968 + 3,760

= $4,728

Spending variance on supplies:

= 4,200 - 4,728

= $528 favorable

<em>Variance is favorable when the Budgeted costs are higher than actual costs. </em>

8 0

3 years ago

With reference to product development, a _____ is defined as a set of systems and interfaces that form a common structure.

Gre4nikov [31]

Answer: product platform

Explanation: A product platform could be defined as a collection elements or specifications which may include design, pattern, formular, component or a certain technology adopted for building a certain product series. A product platform is aimed at increasing the speed and rate at which a certain product is produced, added flexibility in situations where little adjustment is required, cost effectiveness as it requures little upgrade in making new products and lessens developmental cost.

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3 years ago

Direct and Indirect Costs Kubin Company's relevant range of production is 18,000 to 22,000 units. When it produces and sells 20,

pychu [463]

Answer:

a) direct manufacturing cost $220,000

b) indirect manufacturing cost $130,000

2 a) the manufacturing department cost will be of $350,000

b) zero as direct material, labor and overhead can be determinated.

3) a) $40,000

b) $50,000 advertizement.

4) No as we can set the object cost to determinate the direct and indirect cost of the adminsitrative expenses.

Explanation:

a) The direct manufacturing cost will be the variable manufacturing cost linked to the unit cost:

Materials $7 + Labor $4 = $11 per unit

20,000 units x $11.00 = $ 220,000

b) indirect manufacturing cost will be the overhead.

20,000 x ($1.5 + $5) = 130,000

a) Materials, labor and overhead.

which totals for 350,000

2 b) all the manufacturing cost are traceable so zero.

fixed selling

20,000 x 3.5 = 70,000

less 50,000 advertizement = 20,000

variable sales:

commisions $1 x 20,000 + 20,000 = 40,000 direct cost (sales persons)

b) the indirect cost will be the advertizement as cannot be linked directly to the sales person cost.

3 0

3 years ago

Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12, and pot r

antiseptic1488 [7]

Suppose you have a dinner gift certificate for $20. You can use it to order meatloaf or pot roast. Meatloaf costs $12 and pot roast costs $14. Meatloaf and pot roast are both worth $15 to you. The dollar value of the opportunity cost of choosing meatloaf instead of pot roast is $15 EX.

<h3>What Is Opportunity Cost?</h3>

Opportunity costs represent the potential benefits that an individual, investor, or business misses out on when choosing one alternative over another. Because opportunity costs are unseen by definition, they can be easily overlooked. Understanding the potential missed opportunities when a business or individual chooses one investment over another allows for better decision making.

Opportunity cost is often overlooked by investors. In essence, it refers to the hidden cost associated with not taking an alternative course of action. If, for example, a company pursues a particular business strategy without first considering the merits of alternative strategies available to them, they might fail to appreciate their opportunity costs and the possibility that they could have done even better had they chosen another path.

Formula Of Opportunity Cost

Opportunity Cost=FO−CO

where:

FO=Return on best forgone option.

CO=Return on chosen option.

Learn more about Opportunity cost on:

brainly.com/question/12121515

#SPJ4

8 0

2 years ago

What are companies doing to respond effectively to increasing segmentation of the marketplace? Following a traditional sales mod

N76 [4]

Answer: The answer is C. Using more narrowly targeted marketing messages.

Explanation: Market Segmentation is basically the act of dividing a large market into smaller groups, which can now easily be targeted and serviced.

In an increasingly segmented marketplace, the best option for companies it so make sure that they tailor their marketing messages to the segmented market chunk.

Basically, in order for companies to retain the loyalty of their market segment, or to get new customers, they have to make sure that their marketing messages are more narrowed and specific, in order to hold the attention of their target audience.

Using more narrowly targeted marketing messages will guarantee that the target market gets the message clearly and prompt them to patronize the company.

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3 years ago