Answer:
$53,700
Explanation:
Direct manufacturing cost = (Direct material per unit + Direct labor per unit) * Units produced
=($5.20 + $3.75) * 6,000 units
=$8.95 * 6,000
=$53,700
The total amount of direct manufacturing cost incurred is closest to $53,700
The answer is Bottom-Up estimates.
Bottom-up estimating involves the estimation of work at the lowest possible level of detail.
The estimates so calculated are then aggregated to arrive at summary totals. The probability to meet the estimated amounts improves substantially by building detailed cost and time estimates for a work package.
In other words, bottom-up estimating approximates an overall value by approximating values for smaller items and using the sum of these values as the overall value.
This cost estimation tool is often used when detailed information is available about lower-level activities. It can be especially useful when estimating projects that are similar to ones that were completed in the past.
Hence, a Bottom-Up estimate is a cost estimation tool that involves estimating individual work items or activities and summing them to get a project total.
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A multidomestic strategy is the most appropriate strategy for international operations because it drives economies of scale as far as possible and provides a middle-of-the-road product that appeals to the smallest number of consumers in every market.
True / False
Answer: False
Explanation:
Middle of the road products are products which may only be returned unopened. Many are therefore with no warranty.
Economies of Scale- An economics term that describes a competitive advantage that large entities have over smaller entities. Here we observe that there are cost reductions of products because the company increased its production.
Competition of products and services in the international environment may require one or more of these four basic strategies to enter and thrive; (1) global standardization strategy, (2) localization strategy, (3) transnational strategy, and (4) international strategy.
Each of these strategies has pluses and minuses.
The question above follows under localization strategy — multidomestic strategy .
In a multidomestic strategy - we see a firm whose strategic features aims to maximise benefits of meeting local market needs through extensive customisation of its products and services to the local market. Decision-making style of this strategy is decentralised such that demands of products and feedback are exclusively theirs and thus local businesses are treated as separate businesses. Strategies for each country probably are not mutually exclusive. Example of companies with this strategy include ms NESTLE, MTV etc.
Multidomestic strategy forces a firm to emphasis on differentiating its product and service offerings to adapt to the surrounding local markets.
Multidomestic strategy thus isn't the most appropriate strategy for to drive International operations.
Answer:
1. Yields a balance sheet inventory amount often markedly less than its replacement cost. LIFO
2. Results in a balance sheet inventory amount approximating replacement cost. FIFO
3. Provides a tax advantage (deferral) to a corporation when costs are rising. LIFO
4. Recognizes (mulches) recent costs against net sales. LIFO
5. The preferred method when each unit of product has unique features that markedly effect cost. WEIGHTED AVERAGE
Explanation:
1. LIFO yields a balance sheet inventory amount often markedly less than its replacement cost. The reason is because the in a period of rising costs, since the last stock of goods bought are sold first, this will result in the remaining stock of goods to be of lower costs as they had been bought at an earlier date at a cheaper rate.
2. FIFO results in a balance sheet inventory amount approximating replacement cost because the first set of goods purchased are sold first; and if the assumption holds that costs are rising with time, then the balance stock of goods would have been bought at a later date at a higher cost, hence the value of the balance (ending) inventory will be almost equal to its replacement cost.
3. LIFO provides a tax advantage (deferral) to a corporation when costs are rising because it results in a lower ending inventory value since the more expensive inventory has been sold. Hence, the closing stock and Net income will be low and income tax will be low.
4. LIFO matches recent costs against net sales because the 'cost of sales' are made up of the recent purchases which are sold first
5. The preferred method when each unit of product has unique features that markedly effect cost is the WEIGHTED AVERAGE because it calculates the average period cost of all goods in stock and apportions the total to individual items.
Answer:
recover from Big Dig for breach of warranty.
Explanation:
I. The given instance Arnold makes a purchase of a backhoe from Big Dog Equipment, being unaware that Credit collection company is holding a lien on the equipment.
A lien is the ability of a entity to take ownership of a property pending when a debt is repaid.
The backhoe was sold without disclosing this to Arnold. So he can recover from Big Daddy because false information about the product was provided at the time of purchase
