Opportunity costs Refers to

Gymtastic was able to serve large crowds of customers and then adjust operations to serve very few customers thanks to their com

Naya [18.7K]

Gymtastic was able to serve large crowds of customers and then adjust operations to serve very few customers thanks to their competitive capability related to Flexibility.

Explanation:

The main components that decides the success of any business is the way they treat their customers. There are few important things to be kept in mind and practice while serving customers. the person dealing with the customers directly must have certain skills. These skills includes, Communication skills, listening skills, professionalism, problem solving and flexibility.

The ability of the person who is dealing with the customers to deal with different kind of situations refers to the flexibility of that person. The customers of any business has different need and their levels of satisfaction differs. It is very essential for a person dealing with the customers to be flexible with the customer's need and fulfill the level of satisfaction.Flexibility in customer service means ability to adjust to situations. Each customer has different needs and flexibility skills means being able to address effectively the dynamics of every customer encounter.

7 0

4 years ago

Write an essay corruption is the root cause of the social ills plague the society

Inga [223]

Answer:

corruption is the root of social ills because those that are in power take money for their own use and that money was supposed to buy medication for the country

6 0

3 years ago

As brett prepares to open his new business, he has identified the tasks that need to be accomplished and has assigned employees

Brrunno [24]

The scenario above depicts of Bret illustrating a division of labor in which is in lined with how he was able to identify the tasks that are to be accomplished and those things that are to be assigned to each employees in each task.

8 0

3 years ago

1) Prepare an ending 2015 Income Statement and Balance Sheet from the following information: Sales $800,000; Cost of Goods Sold

anygoal [31]

Answer:

Ending retained earning for 2015 = $345,000

Total Assets = $645,000

Shareholder's equity = $445,000

Total liabilities = $200,000

Explanation:

a. Income Statement for the year ended 2015

Details $

Sales 800,000

Cost of Goods Sold 300,000

Gross profit 500,000

Advertising Expense (1,000)

Administrative Expenses (35,000)

Depreciation Expense (40,000)

Rent Expense (5,000)

Operating income 419,000

Interest Expense (24,000)

Income before tax 395,000

Taxation (40% * $395,000) (158,000)

Net income 237,000

Dividend paid (137,000)

Retained earning for the year 100,000

Beginning retained earning 245,000

Ending retained earning 345,000

a. Balance sheet as at the year ended 2015

Details $ $ 

Assets:

Beginning Net Fixed Assets 600,000

Depreciation 40,000

Ending Net Fixed Assets 560,000

Current Assets:

Cash 20,000

Accounts Receivables 20,000

Inventory 45,000

Total Assets 645,000

Shareholder's Fund:

Common Stock 100,000

Ending retained earning 345,000

Shareholder's equity 445,000

Bonds Outstanding 160,000

Accounts Payable 20,000

Accruals 20,000

Total liabilities 200,000

Total equities and Liabilities  645,000

8 0

3 years ago

Penn Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the

PSYCHO15rus [73]

Answer:

Total unit sold = Opening balance + Purhase in march + Purchase in August - Closing balance

Total unit sold = 2000 + 5000 +3000 - 4000

Total unit sold = 6000 units

1. FIFO method:

So total cost of goods sold is (2000*$5) + (4000*$6)= $34,000

Ending inventory value is (1000*$6) + (3000*$8) = $30,000

2. LIFO method:

So total value of goods sold is (3000*$8) + (3000*$6) = $42,000

Ending inventory value is (2000*6) + (2000*$5) = $22,000

3. Average cost of inventory:

Opening inventory (2000* $5) + Purchase on Mar.21 (5000*$6) + Purchase on August 1 (3000*$8) = $64,000

Total units = 2000 + 5000 + 3000

Total units = 10,000

Average cost is $64,000/10,000 (units) = $6.40 per unit

So, Cost of goods sold is 6000*$6.40 = $38,400

Ending Inventory value is 4000*$6.40 = $25,600

8 0

3 years ago