Rimary marketing research is more expensive than secondary market research

Wilturner Company incurs $90,000 of labor related directly to the product in the Assembly Department, $39,000 of labor related t

Marina CMI [18]

Answer:

Wilturner Company

The journal entries to record the labor for the Assembly Department would include:

Debit Work in Process $155,000

Credit Direct labor $90,000

Credit Variable factory overhead $39,000

Credit Fixed factory overhead $26,000

To record the direct and indirect labor costs of the assembly department.

Explanation:

a) Data and Analysis:

Direct labor $90,000

Variable overhead (labor) $39,000

Fixed overhead (labor) $26,000

b) The direct labor cost = $90,000 and Factory overhead costs = $65,000 ($39,000 + $26,000)

7 0

2 years ago

Capri Company began the current period with a $20,000 credit balance in the K. Capri, Capital account. At the end of the period,

Triss [41]

Answer:

1. $26,400

2. $34,400

Explanation:

The closing entry for the following accounts are shown below:

1. Service fees earned A/c Dr $70,000

Interest revenue A/c Dr $7,000

To Income Summary $ 77,000

(Being revenue account closed)

2. Income summary A/c Dr $50,600

To Depreciation Expense $8,000

To Salaries Expense $38,000

To Utilities Expense $4,600

(Being expenses accounts are closed)

3. Income summary A/c Dr $26,400 ($77,000 - $50,600)

To K. Capri, Capital A/c $26,400

(Being the difference is credited to the capital account)

4. K.Capri capital $12,000

K.Capri withdrawals $12,000

(Being K.Capri withdrawals account is recorded)

Now the balance in the income summary is shown above i.e $26,400

And, the balance of the K. Capri, Capital account would be

= Credit balance + net income - withdrawals

= $20,000 + $26,400 - $12,000

= $34,400

5 0

3 years ago

Prepare the journal entries to record these transactions on blossom company's books using a periodic inventory system. (if no en

Mariana [72]

Since the company is following a periodic inventory system, it has to use temporary accounts to record sales and purchases.

Transaction A

Purchases – Dr 860500

Accounts payable 860500

Transaction B

Accounts payable - Dr $111,600

Purchase returns $111,600

Transaction C

Accounts payable - Dr 748900

Discount received 14,978

Cash 733,922

6 0

3 years ago

1. Descriptive research is conducted for all of the following reasons except ________. a. to describe the characteristics of rel

Softa [21]

Answer: c. To understand which variables are the cause and which variables are the effect of a phenomenon

Explanation:

The options include:

a. To describe the characteristics of relevant groups, such as consumers, salespeople, organizations, or market areas

b. to determine the degree to which marketing variables are associated

c. to understand which variables are the cause and which variables are the effect of a phenomenon

d. to determine the perceptions of product.

Descriptive research simply refers to a research type that is used in the description of a population that the researcher is studying.

It simply answers questions such as when, what or how in the research. The subject of the research is being described here.

From the options given, we should note that the descriptive research isn't conducted to understand which variables are the cause and which variables are the effect of a phenomenon.

5 0

2 years ago

State, in brief, with reasoning, whether following statement is correct/incorrect: “One cannot be everything to everyone, but ca

Olenka [21]

Answer:

Yes the statement is correct.

Explanation:

The statement is given by Matt Cheuvrant. In business the statement is absolutely correct that you can not satisfy the need of all the customers. A business cannot offer a product at less than its cost if a customer cannot afford it. Also an organization cannot start manufacturing a product because one customer demands it. If the company decides to satisfy all his customers by offering a large variety of products it may result in establishing in-house competition resulting in declining profits from both the products. If the company tries to give everything to every one this enhances its risk of failure resulting nothing in its own hands.

Businesses should focus on a single product and try to create a niche market. The product should be unique and its features should be extensively different from the other competitive products available in the market. This creates heavy switching cost to customers which ensures the business that customers will retain loyal to it. You can everything for few customers. They will not want to leave you because of your product specific features that are not available in the market.

8 0

3 years ago