Answer:
Making decisions and taking actions to achieve a superior fit between the organization and its environment is. strategic management
What is strategic management?
a process that uses vision, goals and objectives, internal, and external analysis, and implementation levers that can be used to help formulate and implement strategy.
Answer with Explanation:
Requirement 1.
The US import will increase by $1,500,000 due to purchase of indian tea product and this import of tea would result in increase of capital outflow as the Net export particular to importation is negative hence capital outflow is genuine effect.
Requirement 2.
The Net exports can be calculated as under:
Net Exports = Exports - Imports = 0 - $1,500,000 = - $1,500,000
The US Net Exports would decrease by $1,500,000.
Answer:
$774 unfavorable
Explanation:
The computation of the direct material quantity variance is shown below:
= Standard Price × (Standard Quantity - Actual Quantity)
= $8.60 × (1,910 kilograms - 2,000 kilograms)
= $8.60 × 90 kilograms
= $774 unfavorable
Since it is unfavorable as it derives that actual quantity is more than the standard quantity and in the case of favorable, the actual quantity is less than the standard quantity
Answer:
D) is 20% above expectations.
Explanation:
The Augusta Division was supposed to earn a net profit of $1,000,000 (= $2,000,000 - $1,000,000). Since the division's manager and his/her team were able to cut reduce fixed costs to $900,000 and increase contribution margin to $2,100,000 (either by increasing selling price or reducing variable costs), then the division earned a net profit of $1,200,000 (= $2,100,000 - $900,000). This net profit is 20% higher than expected, therefore the manager's (and his/her team's) overall performance was 20% above expectations.
Answer:
e) All temporary accounts are closed but permanent accounts are not closed.
Explanation:
At the time of the closing entries, the temporary accounts are closed instead of all other accounts. The temporary accounts include revenues account, expenses account, dividend paid account, ultimately income summary account
These accounts are closed so that the amount of these accounts should be carried forward to the next accounting period. The amount would always be zero, And in every accounting period, these accounts are closed.
