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saw5 [17]
3 years ago
15

Which of the following is a retailing business?

Business
1 answer:
inna [77]3 years ago
5 0

Answer:

B). Grocery store

Explanation:

Retailing is described as the business of selling directly to the customer. It primarily aims to sell goods as well as services to the consumer directly for their end-use, encompassing all the channels of distribution. It is described as the final stage of the distribution process where the retailer directly satisfies consumer demands. Among the given options, the grocery store would be an example of a retailing business as it sells vegetables to the final consumers personally for their consumption, after crossing different channels of distribution i.e. manufacturer(farmer), wholesaler, retailer, and finally the consumer. Thus, <u>option B</u> is the correct answer.

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In the retail industry, ABC tries to add value to their products and services so they can attract customers who are willing to p
kicyunya [14]

Answer:

A. Differentiation strategy.

Explanation:

In a market different firms try to maintain a competitive edge over others. This is achieved by using various strategies like: Differentiation strategy, Local strategy, Regional strategy, Cost-leadership strategy, Global strategy.

In the given scenario ABC tries to add value to their products and services so they can attract customers who are willing to pay a higher price.

This is a differentiation strategy where a firm tries to make their product different from.otgers in order to maintain a competitive advantage over others

5 0
2 years ago
Select all that apply Determine which of the following statements are correct descriptions of a subsidiary ledger. (Check all th
djyliett [7]

Answer:

- The balance in the subsidiary ledger will equal the balance of its supported account in the general ledger.

- The account which the subsidiary ledger supports in the general ledger is called a control account.

- It is a supporting ledger that contains detailed information about a general ledger account.

- Two of the most common subsidiary ledgers are for Accounts Payable and Accounts Receivable.

Explanation:

A subsidiary ledger is defined as a supporting ledger that contains details of an account on the general ledger.

It gives a breakdown of the single amount that reflects in a general ledger account.

For example if the accounts payable account has a balance of $50,000, the subsidiary ledger will show the individual transactions that make up the $50,000.

Therefore the balance of the subsidiary ledger will equal the amount in the general ledger account.

5 0
3 years ago
The demand curve of a monopolistically competitive firm is _________________ than that of a perfectly competitive firm. g
Hitman42 [59]
Downward sloping ; more elastic.
7 0
3 years ago
Lansing, Inc. provides the following information for one of its department's operations for June (no new material is added in De
Eddi Din [679]

Answer:

See Explanation Below

Explanation:

Given

Beginning inventory units = 15,000 units

Beginning Inventory Completed = 60% completed

Current work = 35,000 units started

Ending inventory = 5,000 units

Ending inventory completed = 20% completed

Using FIFO, the production cost report is as follows

First, we determine the physical flow of units;.

This is listed out as follows;

Beginning WIP Inventory: 15,000 units

Unit started this period: 35,000 units

Total units to account for = 50,000 units

Units completed and transferred out: 45,000 units

Ending WIP Inventory: 5,000 units

Total accounted units: 50,000 units

Unit completed and transferred out is calculated by;

Total units to account for - Ending WIP Inventory

= 50,000 units - 5,000 units

= 45,000 units

Calculating the EUP (Equivalent Unit of Production)

Equivalent Unit to complete beginning WIP Inventory

Direct Materials: 15,000 (100% - 100%) = 0 EUP (Direct)

Conversions: 15,000 (100% - 60%) = 6,000 EUP (Conversion)

Equivalent Unit started and completed: 30,000 EUP (Direct)

Equivalent Unit started and completed: 30,000 EUP (Conversion)

Equivalent Unit in ending WIP Inventory:

Direct: 5,000 units * 100% = 5,000 EUP (Direct)

Conversion: 5,000 * 20% = 1,000 EUP (Conversion)

Total Equivalent Unit of Production: 0 EUP + 30,000 EUP + 5,000 EUP = 35,000 EUP (Direct)

Total Equivalent Unit of Production: 6,000 EUP + 30,000 EUP + 1,000 EUP = 37,000 EUP (Conversion)

Note that;

Equivalent Unit started and completed is calculated as follows;

Total Units account for (45,000) - Beginning Unit (15,000) = 30,000 EUP

3 0
3 years ago
Parsons Company is planning to produce 2,900 units of product in 2020. Each unit requires 2.00 pounds of materials at $7.00 per
olga55 [171]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the total cost of producing 2,900 units:</u>

Total cost= direct material + direct labor + allocated overhead

Total cost= (2*7)*2,900 + (0.5*16)*2,900 + [(0.5*16)*0.6]*2,900

Total cost= 40,600 + 23,200 + 13,920

Total cost= $77,720

<u>Now, the unitary standard cost:</u>

Unitary cost= total cost/number of units

Unitary cost= 77,720 / 2,900

Unitary cost= $26.8

3 0
3 years ago
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