Answer:
The unit value os $20 which Ross should use
Explanation:
LCM stand for or termed as Lower of Cost or Market approach- This approach is described as the inventory values at the historical cost or lesser than the replacement cost of market.
NRV stands for or termed as Net Realizable Value- This rule or method is defined as the estimated selling price, which the company expects to gather in the cash form from the customer through the sale of the inventory.
Computing the unit value as:
Given,
Cost price per unit is $20
Selling price per unit is $30
Selling cost per unit is $4
Using the NRV method:
NRV = Selling Price - Selling Cost
= $30 - $4
= $26
Using the lower of cost rule:
Cost = Cost of product
Cost = $20
Therefore, the $20 is the unit value which Rose should use.
Answer:
$10,000 unfavorable
Explanation:
The computation of the total variable overhead variance is shown below:
Total variable overhead variance is
= (Actual variable overhead cost - (manufactured units × standard variable overhead rate × required standard direct labor hours))
= ($40,000 - (2,500 units × $4 × 3)]
= $40,000 - $30,000
= $10,000 unfavorable
Since actual cost is more than the standard cost so it would be unfavorable variance
Answer:
Yes, this proces is called co-creation
Explanation:
Nowadays there are several organizations that involve the clients in the design, creation of a product or problem solving. E.g. bands asking for album titles to their fans. Bands letting the fans create the playlist for a given concert. Household consumers voting or giving insides in re branding campaigns.
Answer and Explanation:
The adjusting entry is given below:
On Dec 31,2017
Unearned Rent Revenue $25,000 ($75,000 × 4 months ÷ 12 months)
To Rent Revenue $25,000
(Being revenue earned is recorded)
Here unearned rent revenue is debited as it decreased the liability and credited the rent revenue as it increased the revenue
Connection
Marketing communication connects your small business to your customers. Whether it’s communicating through an informational newsletter or through a social media forum where you exchange ideas, communication vehicles keep you in contact with consumers. This helps you build your business, establish a sense of trust and familiarity, and encourage repeat and referral business.
Input
You can solicit feedback from your customers through marketing communication tools such as surveys, questionnaires and focus groups. Asking for customer input makes consumers feel invested in your business, because you’re demonstrating to them that their opinion matters. The input you receive can help you improve services, differentiate product lines and better serve your customer’s needs.