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fgiga [73]
3 years ago
6

The marketing concept states that the social and economic justification for an organization’s existence is the satisfaction of c

ustomers’ wants and needs while meeting organizational objectives. True or False
Business
1 answer:
Goshia [24]3 years ago
7 0

Answer:

True

Explanation:

The satisfaction of customer is the key need of survival for any business.

As the customer satisfaction will result into good branding, economic support and vital performance booster for the organisation.

Customer satisfaction ensures that the organization is socially and economically viable, and equally capable of running business with the perspective of growth.

Thus the above stated statement is

True

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Budgeting material purchases budget. The Howell Company has prepared a sales budget of 42,000 finished units for a 3- month peri
tangare [24]

Answer:

The number of Gallon materials Howell company should buy is 166000 Gallons

Explanation:

Finished goods

opening inventory               11000

produced                                            

closing inventory                13000

finished goods sold            42000

using the bottom up approach to get goods produced

sold goods + closing goods - opening goods = produced =44000 goods

Direct material ( Gallons)

opening materials                  66000

purchased                             166000              

available for use                   232000

used in production                 176000

closing gallons                       56000

We use the bottom up approach to get the materials to be purchased

closing stock plus used in production to get available for use then subtract opening material to get purchased = 166000

4 0
3 years ago
Why is the cost of goods sold account part of a trading business only? The cost of goods sold account is part of a trading busin
ELEN [110]

COGS is sometimes referred to as cost of sales and refers to the production costs for products manufactured and sold or purchased and re-sold by the company. These costs are an expense of the business, and they reduce the revenue the company makes from selling its products.

For example, say your business assembles a completed widget from various inventory parts and sells it online for $15. The parts of the widget and the direct labor required to assemble them cost $10.

The $10 cost is deducted from the widget's sale price to determine the gross profit it generates, and the taxes on that profit. The IRS allows you to include a variety of costs in this calculation.  

Cost of goods sold is determined annually by showing changes in the company's balance of "goods" or inventory, from the beginning to the end of the company's fiscal (financial) year, and it is included in the company's income statement. The income statement information is included on the business tax return and used to calculate adjusted gross income as well as net income for tax purposes.

What's Included in Cost of Goods Sold

Cost of goods sold includes the direct cost of producing the product or the wholesale price of goods resold and the direct labor costs to produce the product. Specifically, it can include:

Cost of raw materials.

Cost of items purchased for resale.

Cost of parts used to construct a product.

COGS also includes other direct costs such as labor to produce the product, supplies used in manufacture or sale, shipping costs, costs of containers, freight in, and overhead costs directly related to the manufacture or production activity (like rent and utilities for the manufacturing facility).

Finally, COGS includes indirect costs such as distribution costs and sales force costs that are also directly related to the products the company sells.


8 0
3 years ago
Text Problem 5
Alik [6]

Answer:

Please find the answer in the attached image

Explanation:

Please find attached the table used in answering this question

Marginal benefit is the change in total benefit when consumption is increased by one unit

Please find attached the image used in answering this question

4 0
3 years ago
Which of the following statements about job applications is false?
Ilia_Sergeevich [38]

Answer:

I would say it is A

Explanation:

i say this because everything is virtual now so therefore there are job applications online

5 0
3 years ago
Read 2 more answers
Iz, Lauren, Odd, and Ralph started a T‑shirt company. They can produce any number of T‑shirts at a cost of $2 per T‑shirt, both
ale4655 [162]

Answer:

Market price = $2, profit = $0

Product differentiation

Increase profit

Explanation:

The market price will be $2, since the two firms will compete against each other, then the ori e falls to the marginal cost of $2

Product differentiation refers to the distinction made in a market whereby mostly similar products are produced. The variation or distinction made by different producers is usually used to influence consumer decision. The inscription of iguana made on the chest of iz and odd's t-shirt brand is to differentiate its product from that of Ralph and Lauren.

The Economic reason which could have likely sparked iz and odd's decision to put Iguana on its t-shirt brand is to give consumers something a bit more different from their usual design, thereby enticing more customers and ultimately increase profit.

5 0
3 years ago
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